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Master Data Management Market – Growing Need for Regulatory Compliance within Enterprises to Drive Demands

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Global Master Data Management Market: Overview

The report on the global master data management market provides analysis for the period between 2016 and 2026, wherein 2017 is the base year, and 2018 to 2026 is the forecast period. Data for 2016 has been included as historical information. The study provides a comprehensive analysis of the expansion of the market during the forecast period, in terms of revenue estimates (in US$ Mn), across different geographies.

The report covers market dynamics including drivers, restraints, opportunities, and trends expected to influence the expansion of the global master data management market during the said period. Technologies that are playing a major role in driving the market have also been considered in the study.

The global master data management market was valued at US$ 4,677.6 Mn in 2017 and is expected to expand at a CAGR of 15.7% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Master Data Management Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” North America is expected to hold the dominant revenue share, with the market in the region expanding at a CAGR of above 10%. The global master data management market is mainly driven by rising strict regulatory compliances within enterprises.

MDM in cloud computing and adoption of multi domain master data management globally driving the market

Master data management is an essential part of data management in organizations. Appropriate master data management helps users access accurate data related to products and customers, which further facilitates organizations to carry out business operations. The Internet of Things (IoT) revolution has been vital in supporting the growth of the master data management market since governing master data has become a critical and essential part of data management. Rapid growth in businesses being conducted online has fuelled the demand for master data management solutions globally.

The rapidly growing e-commerce industry relies largely on accurate management of master data. E-commerce industry revenues have grown exuberantly during the past five years. This has led organizations operating in this sector to ramp up investments in upgrading their IT infrastructure.

Integration of Artificial Intelligence and machine learning in master data management playing a crucial role in the expansion of the market

The master data management market by solutions has been segmented into product data, customer data, and multi-domain MDM. In 2015, the product data solution segment accounted for the largest share in the master data management solution market. Based on the mode of deployment, the master data management market is segmented into on-premise and cloud deployment.

The market for cloud deployment is expected to increase during the forecast period. The master data management market is further segmented by application into government, BFSI, IT and telecommunications, health care, energy and utility, transportation and logistics, manufacturing, retail, and others. The amount of product and customer data that industries have to handle has increased significantly. Regulatory compliance in the healthcare and pharmaceutical industries makes master data management essential.

In the government and BFSI sector, the need for correct master data is highly critical. Circulation of incorrect product and customer data in organizations can affect business operations if incorrect data is accessed and processed by the system. Thus, the necessity of deploying efficient master data management solutions across industries is vital.

Major players operating in the global master data management market include IBM Corporation, Oracle Corporation, SAP SE, Informatica LLC, Stibo Systems A/S, Riversand Technologies, Inc., Orchestra Networks, Talend Inc., EnterWorks Acquisition, Inc., and TIBCO Software Inc. These players are focusing on acquisitions and new strategic collaborations in order to increase their market share in the global master data management market.

For More Industry Insight, Ask an Analysts @  https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=4622

North America expected to hold a substantial share in the overall market

Based on geography, the global master data management market has been divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to hold a prominent share and account for more than 50% of the global market in 2026, followed by Europe. The U.S. master data management market accounted for the largest share compared to the Canada market dueto greater spending on IT solutions in the region.

In Europe, the rising cloud spending by governments of countries such as the U.K., Germany, and France is observed to be one of the major reasons for massive cloud adoption in both the public and private sectors of Europe. As a part of the strategy, several vendors are investing in tools development specific to a particular application and are focused on new product developments, partnerships, and mergers and acquisitions in order to increase geographical reach in the global master data management market.

Major players operating in the global master data management market include IBM Corporation, Oracle Corporation, SAP SE, Informatica LLC, Stibo Systems A/S, Riversand Technologies, Inc., Orchestra Networks, Talend Inc., EnterWorks Acquisition, Inc., and TIBCO Software Inc. These players are focusing on acquisitions and new strategic collaborations in order to increase their market share in the global master data management market.

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