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Enterprise Metadata Management Market Size, Share, Industry Analysis, Segments And Forecast To 2033
Enterprise Metadata Management Market Size
According to The Business Research Company's, The enterprise metadata management market size has grown exponentially in recent years. It will grow from $7.29 billion in 2023 to $8.81 billion in 2024 at a compound annual growth rate (CAGR) of 21.0%. The growth in the historic period can be attributed to regulatory compliance requirements, data integration challenges, digital transformation initiatives, master data management (MDM) projects, data governance programs.
The enterprise metadata management market size is expected to see exponential growth in the next few years. It will grow to $19.07 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%. The growth in the forecast period can be attributed to real-time metadata processing, enhanced data privacy and security, data fabric solutions, augmented data catalogs, quantum computing impact. Major trends in the forecast period include Integrating hyper-automation technologies, data mesh adoption, semantic metadata integration, privacy-preserving metadata management, dataOps and metadata.
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Market Drivers and Trends:
The rapid data growth within an organization is expected to propel the growth of the enterprise metadata management market going forward. Data growth is the exponential increase in digital information generated, stored, and processed over time. The increase in data growth is attributed to expanding internet usage, digital transformation initiatives, and widespread digitization. Enterprise metadata management offers the oversight and control to effectively handle the changes frequently encountered in intricate enterprise data ecosystems. For instance, in December 2022, according to reports published by the Soda Foundation, a US-based non-profit organization, for the average end-user organization, the upper limit of data storage reached 25 TB, with annual data growth soaring from 700 TB in 2021 to 2,208 TB in 2022. Therefore, rapid data growth within an organization drives the growth of the enterprise metadata management market.
Major companies operating in the enterprise metadata management market are focusing on developing blockchain technology, such as UNIIEQ, to improve equipment metadata's organization, flow, and quality. UNIIEQ is a master data management platform that operates transparently and is decentralized. It utilizes blockchain technology to provide businesses with a simple means of improving the organization, flow, and quality of equipment metadata. For instance, in September 2023, ENP Technologies, a US-based information technology (IT) service provider, launched UNIIEQ, a transparent and decentralized master data management platform fortified by blockchain technology. It aims to streamline equipment metadata organization and flow. UNIIEQ's Pilot Program targets manufacturers and suppliers to maximize operational potential.
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Major Key Players of the Market:
International Business Machines Corporation, Oracle Corporation, SAP SE, Informatica LLC, Varonis Systems Inc, ASG Technologies Group Inc, MuleSoft LLC, Talend SA, Idera Inc, Collibra NV, Alation Technologies Inc, Erwin Inc, Global IDs Incorporation, Smartlogic Semaphore Inc, Alex Solutions Pty Ltd, TopQuadrant Inc, CentricMinds Pty Ltd, Data Advantage Group LLC, Trillium Software Inc, Information Builders Inc, Datum LLC, Adaptive Insights LLC, Amazon Web Services Inc, Infogix Inc, Orchestra Networks SA
Enterprise Metadata Management Market 2024 Key Insights:
• The enterprise metadata management market size is expected to see exponential growth in the next few years. It will grow to $19.07 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%.
• The Impact Of Rapid Data Growth On The Enterprise Metadata Management Market
• Technological Advancements To Offer Transparency
• North America was the largest region in the enterprise metadata management market in 2023
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