Predictions 2017: Master Data Management Market on Cusp of Unprecedented Growth!

The master data management market has undergone tremendous advancement in the past few years. With the advent of the Internet of Things (IoT) the penetration of information technology across various industries has increased. Organizations have ramped up their investments in IoT technology. IoT offers a range of benefits to organizations in the sectors of cloud computing, big data analytics, and global networks. The global start up industry has grown hugely in the IoT sector. Also there has been a significant rise in the number of businesses conducted over the web over the past few years.

As the amount of data generated by organizations multiples rapidly, organizations can no longer afford to delay investments in master data management solutions. This will help the opportunity in the global master data management market to spiral to US$37.97 bn by 2024, rising at a 27.25% CAGR from 2016 to 2024. The market had a valuation of US$4.35 bn in 2015. Consolidation among companies is helping this market blaze ahead, says TMR.

Download exclusive Sample of this report:
http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=4622

In economies that are racing toward industrialization and urbanization, the amount of data continues to rise exponentially, making investments in product and customer data management an imperative. TMR expects this factor to act as a high-impact driver for the global master data management market. This puts the Asia Pacific region at the forefront of growth in the global MDM market. However, in terms of revenue generation, traditional economies in North America and Europe will still remain vital.

Unstoppable Data Generation Throws up Both Opportunity and Challenge for Companies in MDM Market

“As organizations worldwide contend with massive volumes of data and find ways to make sense of it all, many will look at master data management software for an answer. The increasingly data-driven nature of operations across virtually every industry sector will thus drive many to invest in MDM solutions,” notes a TMR analyst.

As such, with an increase in the overall IT spending globally, the master data management market is expected to rake in a healthy share of the pie. With the risk and liabilities associated with incorrect data processing having great economic implications, the future of the global MDM market looks bright.

However, companies, on their part, have to invest both time and talent in spotting challenges that are unique to each industry and formulate MDM solutions to cater to disparate needs. This capability will decide how efficiently companies are able to establish their superiority in the market.

Shift Toward Multi-domain MDM Solutions Will Create Ripples in the Global Market

Basis component, the report segments the master management market into software and services. While software is further sub-segmented into on-cloud and on-premise software deployment, the services segment is split into consulting, operations and maintenance services, and system integration. The demand for on-cloud deployment of MDM solutions is on pace to show promising growth during the report’s forecast period.

Press Release: http://www.transparencymarketresearch.com/pressrelease/master-data-management-market.htm

Likewise, the report segments the master data management market on the basis of solutions into: Product data, multi-domain, and customer data MDM. Of these, the multi-domain MDM segment had a valuation of nearly US$3.5 bn in 2015, making it the largest segment in terms of revenue. Organizations are increasingly investing in MDM software can manage multiple master data domains. This sentiment will drive investments in MDM products and have a far reaching impact on the overall performance of the MDM market as a whole.

About Us

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 business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.