Master data management (MDM), a technology-enabled discipline facilitates the collaboration of business and IT, ensuring the uniformity, accuracy, stewardship, semantic consistency and accountability of the enterprise’s official shared master data assets. Master data is the consistent and uniform set of identifiers and extended attributes that describes the core entities of the enterprise including customers, prospects, citizens, suppliers, sites, hierarchies and chart of accounts. Master data management (MDM) is a comprehensive method of enabling an enterprise to link all of its critical data to a common point of reference. The master data management market, in terms of revenue, was valued at US$ 11,653.7 Mn in 2017 and is expected to reach US$ 28,053.9 Mn by 2022.
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Master Data Management Market, By Industry Type
This market by industry type is segmented into BFSI, retail, manufacturing, healthcare, media and entertainment, government, IT and telecom, energy and utilities, transportation and logistics, and others. Amongst these segments, the BFSI industry held the largest market share in 2017 and is also anticipated to be the fastest growing market in terms of CAGR. The mandating of regulatory bodies for data protection and the resultant need to protect the large amount of transaction, financial and trading data generated in the BFSI industry has fueled the demand for master data management in this industry.
Master Data Management Market, By Region
On the basis of geographical segmentation, North America occupies the largest market share in master data management in terms of revenue. The presence of large number of enterprises and capital industries have boosted the demand for the market in this region. U.S. is the leading country in North America master data management market. The stringent regulations regarding data storage and data have led to widespread adoption of master data management in U.S.
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Competitive Market Share
The report provides both, qualitative and quantitative research of the market, as well as it helps to gain important insights of current and future market and trending technologies adopted by the key players. The report also offers extensive research on the key players in this market and detailed insights on the competitiveness of these players. The key business strategies such as mergers and acquisitions(M&A), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their headquarter, competitors, product/service type, application and specification, pricing, and gross margin.
Some of the key participants of global master data management market are Oracle, TIBCO Software Inc., Informatica Corporation, IBM, SAP, SAS Institute, Inc., Talend, Inc., SyncForce, Teradata Corporation, Orchestra Networks, Riversand Technologies, Inc., amongst others.
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