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How will COVID-19 impact Master Data Management Market - Exclusive Report by Transparency Market Research
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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.
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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.
North America dominance of the master data management market projected to continue
In terms of geography, the master data management market has been segmented into five regions namely, North America, South America, Middle East & Africa, Asia Pacific, and Europe. Among these, North America is expected to hold a major share of above 50% of the market, in terms of revenue, by 2026. Also in the coming years, the master data management market is expected to grow significantly in the Asia Pacific region due to the anticipated increase in IT and IT infrastructure spending in the region. The growth of IoT in Asia Pacific is also a key factor driving the growth of the master data management market in this region.
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.
Market Segmentation
Master Data Management Market Analysis, by Solution
Product MDM
Customer MDM
Supplier MDM
Multi-domain MDM
Master Data Management Market Analysis, by Deployment Type
On-premise
Cloud based
Master Data Management Market Analysis, by Enterprise
Large Enterprises
Small and Medium Enterprises (SMEs)
Master Data Management Market Analysis, by Industry
Government
BFSI
IT and Telecommunications
Healthcare
Energy and Utility
Transportation and Logistics
Manufacturing
Retail
Others
Master Data Management Market Analysis, by Country/Region
North America
U.S.
Canada
Rest of North America
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
Japan
China
India
Rest of Asia Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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