According to the research, the global enterprise data management market will be worth US$ 208.9 billion by the end of the forecast period, with a CAGR of 8.4%. In 2022, the market is expected to be worth US$ 93.5 billion. The market’s expansioEnterprise Data Management Marketn can be attributed to the growing need to manage the massive amounts of data generated by businesses on a daily basis. Furthermore, the growing need for on-time delivery and rising demand for data management among organisations are expected to boost the market during the forecast period.
Furthermore, the growing proclivity of organisations toward data integration is expected to drive demand for enterprise data management over the forecast period. Organizations are implementing various data integration tools to aid in digital transformation. Furthermore, the emergence of the Industrial Internet of Things (IIoT) is expected to benefit the industry during the evaluation period.
According to the Analytics Insight Report 2020, the growing popularity of IIoT has increased the demand for data integration significantly. On the contrary, rising concerns about data security are expected to stifle market growth during the forecast period. Rising demand for risk management and software among organisations, on the other hand, is expected to act as a significant counter-force to the impeding cause and expand market reach.
The Market Study’s Key Findings
- By 2032, the market in the United States will be worth $72.8 billion.
- The industry in the United States is expected to grow at an 8.1% CAGR during the forecast period.
- The cloud deployment type is expected to grow at a 7.7% CAGR from 2022 to 2032.
- Japan’s market will be worth $11.8 billion by 2032.
- The South Korean market will grow at a CAGR of 6% during the assessment period.
- From 2022 to 2032, the UK industry is expected to grow at a 7.4% annual rate.
Analysis of Competitors
SAS Institute Inc., IBM Corporation, Oracle Corporation, Teradata Corporation, and SAP SE are among the key players in the global enterprise data management market. Recent industry developments include:
- Informatica, a provider of data integrity software solutions, will launch Intelligent Data Management Cloud on Azure for APAC in July 2021. The system is an AI-powered cloud platform that provides APAC and SE Asia access to Microsoft Azure.
- IQGeo, a well-known developer of geospatial productivity and collaboration software, will release Network Manager Electric and Network Manager Gas software solutions in December 2021. The software aims to provide electric and gas network operators with efficient workflow solutions.