Enterprise Data Management Market

Global Enterprise Data Management Market Size:

The global enterprise data management market size reached US$ 77.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 182.5 Billion by 2032, exhibiting a growth rate (CAGR) of 9.95% during 2024-2032. The market is driven by the rising volume of complex data generated and the increasing need to mitigate security risks and ensure compliance with data regulations.

Global Enterprise Data Management Market Analysis:

• Major Market Drivers: The increasing shift from manual to automated systems to carry out business operations, along with the increasing volume of data generated, is positively influencing the current market. In addition to this, the growing need for enterprise data management (EDM) solutions to ensure the quality and accuracy of data by providing data cleansing, validation, and enrichment capabilities is further catalyzing the market growth.
• Key Market Trends: The rising popularity of cloud-based data management solutions is acting as a significant growth-inducing factor for the market. Cloud-based data management solutions provide better opportunities for collaboration and integration with other cloud services and applications. Additionally, advancements in cloud technology, such as enhanced security measures and data encryption, are further making businesses more confident in migrating their sensitive data to the cloud.
• Competitive Landscape: Some of the major market players in the enterprise data management industry include Actian Corporation (HCL Technologies Limited), GoldenSource Corporation, Informatica Inc., International Business Machines Corporation, LTIMindtree Limited (Larsen & Tourbo Ltd.), Oracle Corporation, Qlik, Salesforce Inc., SAP SE, Sas Institute Inc., Talend S.A., Teradata Corporation, etc., among many others.
• Geographical Trends: North America accounted for the largest market share due to the presence of major technology companies, including Amazon Web Services, Oracle, and IBM. Moreover, significant investments have been made by these key market players in data management infrastructure, along with the implementation of stringent regulatory requirements. Apart from this, North America is among the early adopters of advanced technologies like IoT, big data analytics, AI, and machine learning, which is further catalyzing the demand for data management solutions in the region.
• Challenges and Opportunities: Maintaining a large volume of accurate and consistent data across diverse sources can be quite difficult, resulting in issues like decision-making and operational efficiency. However, various organizations are increasingly establishing robust data governance frameworks to improve data quality, ensure compliance, and enhance decision-making processes, which is expected to offer significant growth opportunities to the market players.

Global Enterprise Data Management Market Trends:

Increasing Volume and Complexity of Data

One of the primary factors driving the growth of the market is the increasing volume of data generated by numerous organizations across the world. With the advent of next-generation technologies and the proliferation of connected devices, businesses are producing vast amounts of data from various sources, including social media, customer interaction, IoT devices, transactions, and cloud computing. As a result, companies are increasingly integrating EDM solutions to drive valuable insights from the data and ensure the security, and accuracy of their data by providing data cleansing, validation, and enrichment capabilities. For instance, the U.S Securities Exchange Commission (SEC) is increasingly utilizing services like Big Data and AI to monitor financial market activities. They are currently using network analytics and natural language processors to catch illegal trading activity in the financial markets.

The Rising Focus on Data Privacy and Compliance

The rising concerns regarding data privacy and cyberthreats are further propelling the growth of the enterprise data management market. Moreover, the government authorities of various nations are taking initiatives and imposing regulations regarding cyber security to reduce the incidence of data breaches. Additionally, with the implementation of regulations such as the General Data Protection Regulation (GDPR) and California’s Consumer Privacy Act (CCPA), organizations are required to have robust data management practices in place. For instance, in 2023, violations of GDPR costed companies, including Meta, TikTok, and X (formerly Twitter), over 3 billion USD. As a result, numerous companies are increasingly integrating enterprise data management solutions into their operations to establish data governance frameworks, implement data privacy controls, and ensure compliance with regulatory requirements.

The Emergence of IoT Data Management Solutions

The modernization of data warehouse infrastructure, the escalating need for data traffic management, and ongoing technological advancements in wireless technologies are contributing to the adoption of IoT-based enterprise data management solutions. A survey by the Ponemon Institute and the Shared Assessments Program also shared that at least 81 percent of risk oversight and corporate governance professionals believe data breaches will happen by an unsecured IoT device within their company. Consequently, the need to manage, sort, and analyze data is becoming crucial, which in turn is bolstering the market for advanced IoT data management software and solutions. Furthermore, this situation has led to the possibility of new laws to regulate IoT. For instance, the IoT Cybersecurity Improvement Act was introduced by members of the U.S. Senate and House of Representatives and mandates the checking of minimum-security standards for connected devices the federal government uses.

Adoption of Cloud Based Data Management Solutions

Organizations are increasingly adopting cloud-based data management solutions to manage their data. Cloud-based data management solutions allow enterprises to easily scale their data storage processes and process more volumes of data eventually. In addition to this, cloud-based data management solutions provide flexibility to organizations to access and manage their data remotely. Moreover, the increasing demand for cost-effective data management solutions, such as cloud-based data management, which eliminates the need for on-premises infrastructure, is also contributing to a positive outlook for the overall market. For instance, according to the Cloud Security Alliance, about 80% of organizations in North America are implementing cloud strategies for modernizing the technology stack and infusing intelligence into business applications.

Enterprise Data Management Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on the component, deployment, enterprise size, and industries.

Component Insights:

• Software
  • Data Security
  • Master Data Management
  • Data Integration
  • Data Migration
  • Data Warehousing
  • Data Governance
  • Data Quality
  • Others
• Services
  • Managed Services
  • Professional Services
     

The report has provided a detailed breakup and analysis of the enterprise data management market based on the component. This includes software (data security, master data management, data integration, data migration, data warehousing, data governance, data quality, others) and services (managed services, professional services). According to the report, software represented the largest segment. This can be attributed to the increasing adoption of software-as-a-service (SaaS) by numerous companies to manage their complex data. Moreover, software deployment often involves upfront licensing or subscription fees, which can be more cost-effective in the long run, especially for organizations with ongoing data management needs.

Deployment Insights:

• Cloud-based
• On-premises
   

A detailed breakup and analysis of the enterprise data management market based on the deployment has also been provided in the report. This includes cloud-premises and on-premises. According to the report, cloud-based accounted for the largest market share. This can be attributed to the benefits offered by cloud-based deployment, such as scalability, flexibility, and reduced upfront costs. It also allows for easier integration with other cloud services and applications. Moreover, various leading companies are collaborating to seamlessly integrate cloud-based solutions with complex organizational structures. For instance, Hewlett Packard Enterprise has announced the collaboration with Nokia to provide an open and competitive Cloud RAN solution to Communication Service Providers (CSPs) and organizations globally.

Enterprise Size Insights:

• Small and Medium-sized Enterprises
• Large Enterprises
   

The report has provided a detailed breakup and analysis of the enterprise data management market based on the enterprise size. This includes small and medium-sized enterprises and large enterprises. According to the report, large enterprises represented the largest segment. Large enterprises generally have more complex data management requirements on account of their scale and diverse operations, which may require a combination of on-premises solutions, cloud-based services, and hybrid deployments to meet their complex business needs. Large enterprises also need more customization, integration with existing systems, and advanced features such as data governance, analytics, and security. However, the rising number of startups is also augmenting the demand for efficient data management solutions for small and medium enterprises. For instance, in November 2020, Tally Solutions Pvt. Ltd. launched enterprise software, Tally Prime, to help small- and medium-sized enterprises in managing various finance-related services, such as payrolls, banking, taxation, and accounting.

Industries Insights:

• IT and Telecom
• Banking, Financial Services, and Insurance
• Retail and Consumer Goods
• Healthcare
• Manufacturing
• Others
   

A detailed breakup and analysis of the enterprise data management market based on the industries has also been provided in the report. This includes IT and telecom, banking, financial services, and insurance, retail and consumer goods, healthcare, manufacturing, and others. According to the report, IT and telecom accounted for the largest market share. The deployment of data management solutions in both IT and telecommunications (telecom) sectors is crucial for optimizing operations, preventing data breaches, enhancing customer experiences, and efficiently storing, organizing, and retrieving vast amounts of data generated from various sources.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America is the largest market for enterprise data management.  North America accounted for the largest market share due to the presence of major technology companies, including Amazon Web Service, Oracle, and IBM. Moreover, significant investments made by these key market players in data management infrastructure are also making North America as the largest market share holder for enterprise data management solutions.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the major market players in the Enterprise Data Management industry includes Actian Corporation (HCL Technologies Limited), GoldenSource Corporation, Informatica Inc., International Business Machines Corporation, LTIMindtree Limited (Larsen & Toubro Limited), Oracle Corporation, Qlik, Salesforce Inc., SAP SE, Sas Institute Inc., Talend S.A., Teradata Corporation, etc.
• Top market players in the enterprise data management market often involve continuous research and development efforts to introduce novel products that offer enhanced benefits. Companies also focus on expanding their global footprint through mergers, acquisitions, and collaborations with other entities to leverage new markets and technologies. For Instance, in November 2022, IBM Corp., a software solutions provider, launched Business Analytics Enterprise. This suite offers business intelligence features such as planning, forecasting, budgeting, and dashboards, empowering enterprises to dismantle data and analytics silos for faster data-driven decision-making amidst unpredictable disruptions. Additionally, the suite incorporates IBM Analytics Content Hub, simplifying how organizations access analytics and tools from various service providers through a personalized dashboard view. These companies play a pivotal role in shaping the trends and directions of the enterprise data management market, driven by their commitment to offer enhanced data management solutions.

Global Enterprise Data Management Market News:

• February 2023: Alation Inc. has introduced Alation Marketplaces, a new product designed to enrich the data within the Alation Data Catalog by incorporating third-party datasets. Unlike conventional methods, Alation Marketplaces empowers users to delve into external data from vendors such as Snowflake, Amazon Web Services (AWS), and data.gov, enhancing the existing data in the Alation Data Catalog. Users can efficiently explore and uncover data across various solutions within a unified, well-structured environment, with readily accessible sample data for quick assessment.
• February 2023: SAP announced its support for Dimexon, a top diamond manufacturer, in their goal to offer sustainable luxury worldwide. This collaboration involves migrating Dimexon's digital operations to the SAP cloud to create a smart, eco-friendly enterprise. As part of its 'transparency through digital' strategy, Dimexon will use SAP's cloud solutions to automate and optimize operations, including customer analysis, raw material sourcing, inventory management, and meeting stakeholder needs.

Enterprise Data Management Market Report Scope:

Key Questions Answered in This Report:

• How has the global enterprise data management market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global enterprise data management market?
• What is the impact of each driver, restraint, and opportunity on the global enterprise data management market?
• What are the key regional markets?
• Which countries represent the most attractive enterprise data management market?
• What is the breakup of the market based on the component?
• Which is the most attractive component in the enterprise data management market?
• What is the breakup of the market based on the enterprise size?
• Which is the most attractive enterprise size in the enterprise data management market?
• What is the breakup of the market based on the deployment?
• Which is the most attractive deployment in the enterprise data management market?
• What is the breakup of the market based on industries?
• Which is the most attractive industry in the enterprise data management market?
• What is the breakup of the market based on the region?
• Which is the most attractive region in the enterprise data management market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global enterprise data management market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the enterprise data management market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global enterprise data management market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the enterprise data management industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.