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Global Data Management Software Market Value is probable to reach US$263.68 billion by 2028
Data Management Software Market
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Enterprises want to extract insights from the explosion of data, but are challenged with siloed data, lack of real-time analytics, and skills gaps. Thus, arising the need for data management solutions. Data Management Software refers to a set of tools and applications that are designed to help organizations and individual's store, organize, process, and manage data efficiently. This software can include database management systems, data integration tools, data quality tools, data governance software, data warehousing tools, and more. In 2022, the global data management software market was valued at US$110 billion, and is probable to reach US$263.68 billion by 2028.
The growing need for organizations to manage their data assets more effectively and the increasing adoption of cloud-based solutions are expected to be key drivers of this growth.
Some of the key players in the data management software market include
Amazon.com, Inc. (Amazon Web Services, Inc.)
Microsoft Corp. (Microsoft Azure)
International Business Machines Corporation (IBM)
Oracle Corporation
Teradata Corporation
SAP SE
Alphabet Inc. (Google Cloud Platform)
Informatica Inc.
MongoDB, Inc.
Snowflake Inc.
Confluent, Inc.
SAS Institute
Qlik
Talend
The key players are constantly investing in strategic initiatives, such as new product launches, introducing their products to emerging markets and more, to maintain a competitive edge in this market. For instance, in March 2021, IBM Corporation launched IBM OpenPages Data Privacy Management based on advanced technologies to meet data privacy policies and challenges. The solution is based on an AI platform to mitigate, verify, and classify data as the regulations. Also, in April 2021, TrustArc, LLC announced the launch of Audience rate, an international privacy verification of the company. The verification system assists organizations in managing and protecting personal data as per the industry-specific standards.
Get a 25% Discount on Direct Purchase of the Global Data Management Software Market Research Report at https://www.reportsnreports.com/purchase.aspx?name=6914424
The data management software market is highly competitive, with many vendors competing for market share. However, as organizations continue to generate more and more data, the demand for effective data management solutions is only expected to grow, providing ample opportunities for vendors in this space.
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