May 20, 2020
According to the research report titled ‘Global Enterprise Data Management Market Size study, by Component (Software and Services), Deployment Mode (Cloud and On-Premises), by Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), by Industry Vertical (Healthcare And Life Sciences, Banking, Financial Services, and Insurance, Telecom and Information Technology, Retail and Consumer Goods, Media and Entertainment, Manufacturing, Energy and Utilities, Transportation and Logistics, Government & Defense and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global enterprise data management market generated revenues worth USD 71.1 billion in the year 2019 and is expected to grow with a CAGR of 9.5% during 2020-2026.
For the record, EDM (Enterprise Data Management) is the ability to efficiently manage, disseminate, integrate, and generate data for enterprise processes. The platform provides with transparent, consistent, and accurate content pertaining to business processes of the organization. EDM remotely acquires information from third-party cloud services, enterprise systems and applications, which further allows firms to remove administrative data issues and conflicts.
Rising adoption of large processing architectures and columnar databases is a major factor driving the enterprise data management market. The market is expected to further expand owing to growing demand for risk management systems and technological advancements in EDM services. Citing a recent instance, Vodafone Idea collaborated with IBM Corp. in order to introduce a data security device management solution for businesses. However, factors such as presence of data Silos may act as a hindering factor to the overall market growth.
In terms of component type, the enterprise data management industry is split into services and software. As per deployment model, the market is divided into on-premise and cloud segments. By organization size, the industry is categorized into large enterprises and small & medium-sized enterprises. Citing the industry vertical, the EDM market is bifurcated into government & defense, transportation & logistics, energy & utilities, manufacturing, media & entertainment, retail & consumer gods, telecom & information technology, BFSI, and healthcare & life sciences.
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The enterprise data management industry in North America is anticipated to record robust growth during the forecast period, primarily due to rising adoption of real-time authentic information solutions and risk management systems. Meanwhile, the Asia-Pacific market is expected to showcase appreciable growth in the subsequent years.
Ataccaman Corp., Cloudera Inc., Symantec, Talend, SAP SE, Oracle Corp., Teradata Corp., SAS Institute, and IBM Corporation are the major players in worldwide enterprise data management industry.