Master Data Management Market - The Cost of Installation of On-Cloud Deployment of MDM Solutions

A newly compiled business and commerce study by Transparency Market Research (TMR) has detected that the shares in the global master data management market are fairly consolidated among a few major players, although new entrants are making a moderate mark too. While IBM Global Business Services, Oracle Corporation, SAP SE, and Informatica have been rated as leaders, holding a considerable chunk of shares, promising players such as Stibo Systems, EnterWorks Acquisition, Inc., and Riversand Technologies are carving a niche for themselves via innovative solutions.

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The analyst of this research report has observed that InfoSphere version 11.6.0.2 by IBM Analytics entered commercialization in May 2017 and has already become a highly popular product that is capable of managing master data for single as well as multiple domains. IBM serves this information integration and management platform in both stand-alone and bundled workflow, data quality, and integration modes. IBM’s data-match engine is considered to be one of the best in class.

Master Data Governance v.9.0 by SAP has been available since September 2016 and then the company added Hybris Product Content Management v.6.4 to its portfolio in May 2017. The Germany-based software company is catering to a range of industries and also offers customized solutions to the retail and oil and gas industries. Oracle oozes from a vast family of master data management products, with Oracle Customer Hub (Siebel UCM) v.IP2017 and Oracle Customer Data Management Cloud Service v.R12 being among the most recent ones. On the other hand, Riversand Technologies has developed an enterprise MDM solution that centralizes all the processing related to master data.

Global MDM Market to Breach 20 Billion Dollar Mark by 2024

Going forward, major companies of the global MDM market are expected to indulge into strategic acquisitions and partnerships to expand their business geographically as well as add to their portfolio of solutions. As per the projections of this industry research report, the demand in the global master data management market will propagate at an exponential CAGR of 27.3% during the forecast period of 2017 to 2024. Revenue-wise, the analyst of the report has estimated the global MDM market to be worth US$20,554.87 million by 2024. Segmenting the market on the basis of solution, this report has identified product data solution as the one that is in higher demand, although multi-domain MDM solution is rated as the fastest growing solution segment. The report has also gauged the potential of demand for MDM software and services that can be expected out of several industries and regions. Banking, financial services, and insurance (BFSI) and North America are the two leading categories, respectively.

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Cloud-based MDM on the Rise

On-cloud deployment of data, applications, services, and processes offers several benefits to business enterprises, such as fast deployment, security, flexibility, and overall lowered cost of operations. Currently, the on-premise MDM solutions are integrated with software-as-a-service (SaaS). However, the master data management market has already began the transformation onto cloud, which has proven its worth in increasing productivity and helping diverse industry players to offer improved customer service. The TMR report has estimated cloud-based MDM to generate a demand worth of US$9,074.48 million by 2024, exhibiting a phenomenal CAGR of 34.2% during the forecast period of 2017 to 2024.

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

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