Enterprise Data Management Market Growth & Trends

The global enterprise data management market size is expected to reach USD 135.88 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to exhibit a CAGR of 9.7% from 2020 to 2027. The increasing need for on-time data with accuracy is the major driving factor for the overall market. North America held the largest share owing to the presence of the key vendors such as SAS Institute, Teradata Corporation, Cloudera, IBM, Talend, Informatica, and MuleSoft LLC in the region. Enterprise Data Management (EDM) is a data management platform wherein the data is pulled along from multiple locations to a central hub. Therefore, it integrates with any database to store as well as fetch multiple source data.

Adoption of EDM has various benefits as it has no definite structure, flexible, leverage industry standards, robust quality controls, easy distribution, and have options to choose multiple deployment modes. EDM generates a stable version of the data in a visible and examined environment. It profits SMEs and large enterprises by offering unified integration with consuming applications, control of their data, augmented transparency, and support for ongoing regulations and compliances. EDM addresses the concerns and data dispute by procuring data from multiple locations and sources, and storing is in a single common platform. EDM allows organizations to implement data governance and data quality rules which in turn helps in decision making for an organization.

BFSI industry vertical held the largest share of the overall market, owing to the massive data collection and retrieval daily. Similarly, EDM in IT and Telecom and healthcare industry verticals are projected to grow at the highest compound annual growth rate from 2020 to 2027 owing to the occurrence of COVID-19 pandemic. Also, companies such as Amazon, Facebook, Netflix, and Spotify, hold a large amount of data and have transformed the traditional data strategy models and their deployment.

Enterprise Data Management Market Report Highlights

  • The enterprise data management market accounted for USD 61.95 billion in 2019 and is expected to grow at a CAGR of 9.7% from 2020 to 2027.
  • On-premise emerged as the largest segment in 2019 and is estimated to generate revenue of over USD 69.56 billion by 2027.
  • The managed services segment is expected to grow at a CAGR of 11.9% from 2020 to 2027.
  • The enterprise data management software segment is expected to account for the largest market share of 72% by 2027.
  • The IT & Telecom industry is expected to grow at the fastest CAGR of 10.5% over the forecast period.
  • The North American market held the largest share in the enterprise data management market in 2019. The increasing need for risk management and growing startups in the region are anticipated to drive the market.