Geographically, North America has been identified as the region that is most profitable for the vendors of master data management software and services.
Proliferation of digital transformation has witnessed significant rise, enabling companies across industries to implement master data management to streamline operations and management of data related to resources and clients. Surge in adoption of IoT generated data has contributed significantly towards the growth of master data management market.
In its recently added report titled, ‘Master Data Management Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2024’, Market Research Hub (MRH) offers significant insights on the impact of current trends and developments on the growth of the market.
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Data Security and Data Governance, Recent Trends in Master Data Management
Data augmentation across various business ecosystems has triggered the need to manage and govern data in order to retain flexibility to access and security of data.
Companies are aiming to provide industry specific features in their products to deliver enhanced user experience and attain end-user satisfaction.
For instance, Informatica, a leading cloud data management vendor for enterprises, has introduced AI driven master data management system (MDM) for Amazon Web Services (AWS). The enhanced MDM solutions is dedicated to provide prompt and secure data management operations and boost advanced analytics on AWS.
Further, Informatica, to align with the objective of delivering optimum services to the industry, has lately introduced new features to its Integration Platform as a Service (iPaaS). With this innovation, Informatica will be a pioneer in providing absorption and connectivity of big data sources into hybrid data pools.
It will enable enterprises to carry out AI driven management systems in hybrid environments and create data assets.
Further, to integrate advanced and autonomous features to its Platform as a Service (PaaS), Oracle has introduced AI based operational features to data management and security systems, with an intent to automate process and eliminate manual operations.
Comprehensive insights compiled in the report provides valuable information related to the influence of growth of different segments on the market. In this section, the report portrays important segments of the market, which include, deployment, solution, end-use industry, and region.
On the basis of deployment the market is split as on-cloud and on-premise. Based on solution, the market is segmented as product data solution, customer data solution, and multi-domain MDM Solution.
Based on end-user industry the market is split as government, banking, finance and insurance (BFSI), IT and telecommunications, health care, energy and utility, transportation and logistics, manufacturing, retail, and others. Based on the summary of perspectives summarized in the report, readers can comprehend and recognize the segments that are major revenue generators in the market, as well as their influence on the growth of the market.
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In addition to the segmentation, the report is further fragmented in terms of various regions. Based on region, the market is split as Europe, North America, Latin America, Asia Pacific, Middle East and Africa.
Exhaustive summary outlined in the report enlightens the readers on the impact of different policies and tactics followed by various companies in different regions. On the basis of these insights, leading players can identify the current developments and trends prevalent in the market and curve thorough strategies that are profit oriented.
Key Players Identified in Master Data Management Market
Valuable information summarized in the report provides vital data on various strategies followed by leading companies and its influence on the purchase journey of customers. Based on these perspectives highlighted in the report, leading companies and new market entrants can design thorough analysis and core decisions pertaining to business.
Leading companies identified in the market include, Informatica, IBM Global Services, Oracle Corporation, SAP SE, Stibo Systems, Riversand Technologies, Tibco Software, Agility Multichannel, and EnterWorks Acquisition Inc.
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