The global enterprise data management market size was valued at USD 61.95 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.7% from 2020 to 2027. Increased adoption of parallel processing architecture, increasing the need for on-time information, and the need for risk management are the major factors driving the market. Enterprise data management (EDM) helps organizations with the issues, which may result in mismanagement of data and implements a structured process for data delivery from the producer to the data user. It uses various software, network infrastructure, business judgment, and regulations to manage the flow of data.
Organizations follow certain aspects and collaborations of inter teams such as finance, IT, and operations for the implementation of EDM. It is a vital function in big data for the measurement of the financial and other data in any organization. It is a broad approach used for defining, prevailing, acquiring, and preserving the quality of complete data related to the business processes of an organization. It creates the policy and proprietorship of data types and their sources. It also helps in creating a strategic framework for the technology foundations of data life cycle management.
Currently, many organizations across industries have offices across the globe. The data changes according to the location of the organizations, which acts as a challenge for data procurement. Therefore, enterprise data management solutions help in single-source reporting and allow multi-user capability, which further provides clients with unchanging data in every location. EDM caters to various industry verticals such as banks and insurance companies, finance, manufacturing, among others, the capability to achieve valuable insights in the historical, current, and forecast market changes that may affect the needs of their clients. Reshuffling the workflows at such a point of time has a massive influence on an organization’s baseline. Thus, EDM proves beneficial to such organizations and provides risk management and accuracy of information.
Data quality, data governance; data warehousing; data migration; data integration; data management, and data security are the pillars of enterprise data management. The flow of the data depends on the start to end or end to end management strategy adopted by the organization to ingest, store, transform, report, and analyze the data. Therefore, Business Analytics or ETL tool, data pipeline, data warehouse, and data visualization tools help the organization to design its EDM tool.
The software segment accounted for the largest revenue share of around 74% in 2019. The software segment includes data quality, data governance, data warehousing, data migration, data integration, data management, data security, and others. Organizations are increasingly adopting these solutions to manage the data. The companies such as Oracle Corporation, IBM, SAP SE, Informatica, among others, offer these solutions to the end-user industries to manage the data.
The services segment of the enterprise data management market accounted for significant share and thus expected to register a CAGR of 10.6% from 2020 to 2027. The services segment includes managed services and professional services. The managed services segment is expected to expand at a CAGR of 11.9% from 2020 to 2027 owing to the organizations aiming at improving their customer experiences and speeding up their critical and transactional operations.
The large enterprise segment accounted for the largest revenue share of around 69% in 2019. Large enterprises across BFSI, telecom, retail, among others, generate, create, and receive massive data daily. This data needs to be stored in such a way that it can be accessed and utilized. Thus, they aim at adopting significant data approaches to forecast or classify probable threats. Therefore, it allows enterprises to make faster business decisions through this data.
The small and medium enterprise segment accounted for a significant revenue share and is expected to expand at a CAGR of 10.1% from 2020 to 2027. The increase in regulatory compliances and regulations, such as the Sarbanes-Oxley Act of 2002, Payment Card Industry Data Security Standard, General Data Protection Regulation, The International Organization for Standardization 27001, among others, are expected to impose data management in the organizations.
The on-premise segment accounted for the largest revenue share of around 62% in 2019. Currently, many organizations still believe in storing the data regularly on a local server, which can be accessed anytime. Data storage on the local servers has been a traditional and costlier method of data management.
The cloud deployment segment is expected to register a significant CAGR of 13.1% from 2020 to 2027. Cloud deployment is the cheapest form of storage as compared to on-premise storage. This data stored on the cloud can be accessed from multiple locations, with minimum support and low maintenance, thus driving the adoption of cloud deployment. In addition, cloud deployment allows substantial data storage through different parallel processing architecture. Cloud deployment mode also provides financial benefits to the enterprises as they require minimal capital investment, flexible payment options, and no dedicated hardware requirement.
The BFSI segment accounted for the largest revenue share of around 31% in 2019. BFSI industry accumulates a variety of consumer finances. This data needs to be managed with the accuracy and emphasizes on making efficient business decisions. Adoption of enterprise data management in the BFSI helps to handle information efficiently and fulfilling the regulatory obligations and set out predictive models for risk assessment.
The IT and telecom industry segment accounted for significant revenue share and is expected to expand at the compound annual growth rate of 10.5% from 2020 to 2027. The growth is attributable to the presence of OTT providers and 5G rollout. Data security is a critical concern for these OTT providers, which hold large data. In addition, they need to maintain data quality and ensure business continuity. Therefore, they develop a data quality framework.
The North American market for enterprise data management accounted for the largest share of around 39% in 2019. The region has the highest adoption owing to the presence of the small, medium, and large enterprises in the region. In addition, the region has the appearance of key companies such as SAS Institute, Microsoft, Teradata Corporation, IBM, Cloudera, Talend, Informatica, GoldenSource Corporation, Amazon, and MuleSoft LLC.
The Asia Pacific region is anticipated to expand at the highest CAGR of 10.7% from 2020 to 2027 owing to the increasing industry verticals and adoption of big data in the region. The growing industrialization has resulted in the production of numerous data, therefore driving the need for enterprise data management in the region.
The key players that dominated the global market in 2019 include Oracle Corporation, AWS, IBM, SAS Institute, Symantec, SAP SE, Talend, Teradata Corporation, among others. These players offer a wide range of data management services and cater to industries such as retail, BFSI, healthcare, manufacturing, and others. The barriers to the new entrants are high as the key players dominate the market. New product launches and upgrades remain the key strategy adopted by these players. In February 2018, Oracle announced the Oracle Enterprise Data Management Cloud, which provides a single platform for easy management of critical enterprise data assets and enhanced data integrity and placement. In January 2020, Oracle launched a new Oracle Enterprise Manager, which automates database migration and streamlines the hybrid cloud environments. Some of the prominent players in the enterprise data management market include:
- Oracle Corporation
- SAS Institute
- SAP SE
- Teradata Corporation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Grand View Research has segmented the global enterprise data management market report by component, services, deployment, organization, industry vertical, and region:
- Component Outlook (Revenue, USD Billion, 2016 – 2027)
- Services Outlook (Revenue, USD Billion, 2016 – 2027)
- Managed Services
- Professional Services
- Deployment Outlook (Revenue, USD Billion, 2016 – 2027)
- Organization Outlook (Revenue, USD Billion, 2016 – 2027)
- Large enterprise
- Industry Vertical Outlook (Revenue, USD Billion, 2016 – 2027)
- IT & Telecom
- Retail & Consumer Goods
- Regional Outlook (Revenue, USD Billion, 2016 – 2027)
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Latin America
- Middle East & Africa
- North America