Master Data Management Market Rising at 15.7% CAGR to Hit US$ 78,632.1 Million by 2034: Fact.MR Report
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Increasing Size of Enterprises Leads to Accumulation of Data, Driving Demand for Master Data Management
Rockville, Jan. 22, 2024 (GLOBE NEWSWIRE) — According to a new study by Fact.MR, a market research and competitive intelligence provider, the global Master Data Management Market is estimated to be valued at US$ 8,121.6 million in 2024. The market is projected to grow at a CAGR of 15.7% through 2034. The master data management market is forecasted to reach US$ 78,632.1 million by 2034.
The number of companies and the data-handling requirements are increasing by the day. This creates lucrative opportunities for market players of data management solutions. Multiple variations of master data in the same organization also lead to demand for master data management.
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Key Segments of Master Data Management Market Research Report
| By Deployment | By End-use Sector | By Component | By Region |
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The need to manage master data gets even more pronounced when there is involvement of more than one organization. A significant amount of master data is accumulated with the mergers and acquisitions of companies, which generates the need for master data management solutions to streamline of data processes. Firms are increasingly opting for master data management services to deal with redundant data, which is expected to drive the market’s growth over the forecast period.
“Companies are increasingly opting for cloud systems for data management solutions. Master data management is one such solution that is becoming popular due to its cloud-based capabilities, creating market opportunities,” says a Fact.MR analyst.
Key Takeaways from the Market Study
- The global master data management market is projected to expand at a CAGR of 15.7% through 2034.
- The East Asia master data management market is expected to grow at a CAGR of 16.3% from 2024 to 2034.
- The master data management industry is expected to register a CAGR of 16.9% in Japan over the forecast period.
- The master data management industry in the United States is expected to rise at a CAGR of 16.5% through 2034.
- Based on deployment, the on-premise segment leads the market, with an expected share of 76.3% in 2024.
Partnerships Between Rival Market Players Not an Uncommon Sight in the Market
The market for master data management is highly competitive, with only a few giants having a stronghold. Market players are indulging in collaborative strategies, even with competitors, especially when it comes to tapping the lucrative Asian market. Some of the prominent companies in the market are SAP SE, SAS Institute Inc., IBM Corporation, and Tibco Software Inc.
Recent Developments
- In November 2023, IBI released Data Intelligence, a collaborative data platform with master data management among the offerings.
- In June 2023, Reltio released the AI and Machine Learning (ML) data management platform Reltio Connected Data Platform.
Key Companies Profiled:
- SAP SE
- SAS Institute Inc.
- IBM Corporation
- Tibco Software Inc.
- Informatica Corporation
- Oracle Corporation
- Teradata Corporation
- Orchestra Networks
- Riversand Technologies Inc.
- Talend
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“Implementation of Master Data Management in the Banking and Healthcare Industries in the United States”
The projected value of the master data management market in the United States for the year 2024 is approximately US$ 3,618.0 million. Anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 16.5% from 2024 to 2034, the market is foreseen to reach a substantial valuation of US$ 16,599.6 million by the year 2034.
In the United States, there is a growing focus on data protection, with industries such as banking and healthcare expressing a strong interest in data solutions that not only ensure security but also comply with regulations. Consequently, there is a heightened demand for secure data management solutions like master data management in the United States.
| Report Attribute | Details |
| Value Projection (2033) | US$ 78,632.1 Million |
| Growth Rate (2023-2033) | 15.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 40 Tables |
| No. of Figures | 200 Figures |
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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