Press release
Master Data Management Market - Exhibit a Very Strong CAGR of 27.3% - 2024
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.
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.
Though big data management and cloud adoption are becoming critical to enterprises across the world, this trend is particularly strong in North America. Companies in the master data management market thus been quick in introducing solutions master data management solutions that will help clients enhance the value of big data and integrate MDM solutions seamlessly with their overall cloud policy.
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A similar trend is prevalent in Europe. Consequently, North America and Europe dominated the global master data management market in 2015, TMR finds.
The Asia Pacific master data management market is on the cusp of unprecedented growth, the report further finds. This will occur as a result of an increase in the spends on IT infrastructure by enterprises operating in the region. Moreover, with IoT sure to be a transformational force for the overall IT industry here, the MDM market will be no exception.
The APAC MDM market will exhibit a 29.4% CAGR from 2016 to 2024. TMR expects the Middle East and Latin America to display moderate growth through the report’s forecast period.
About TMR
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend 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.
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