The Business Research Company’s report on the Master Data Management Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
#How have key drivers contributed to the rapid growth of the master data management market?
The rising adoption of artificial intelligence is expected to propel the growth of the master data management market going forward. The rising adoption of artificial intelligence is due to streamlining processes and enhanced productivity, data availability, flexibility and integration, and support for innovative business practices. AI-driven algorithms can intelligently identify duplicate records and match similar data entries across different systems, ensuring a single, clean source of truth for master data. For instance, in May 2022, according to the International Business Machines Corporation (IBM), a US-based company, in 2022, 35% of businesses globally utilized artificial intelligence (AI), which is an increase of 4% from 2021. Furthermore, the number of organizations adopting artificial intelligence (AI) increased by 13% in 2022 compared to 2021. Therefore, the rising adoption of artificial intelligence drives the master data management market.
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How has the master data management market size evolved, and what are the latest forecasts for its expansion?
The master data management market size has grown rapidly in recent years. It will grow from $17.64 billion in 2024 to $20.5 billion in 2025 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to data proliferation, legacy system integration challenges, data quality concerns, mergers and acquisitions, customer-centric focus, digital transformation initiatives.
The master data management market size is expected to see rapid growth in the next few years. It will grow to $37.84 billion in 2029 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to data democratization initiatives, industry-specific MDM solutions, hybrid and multi-cloud environments, data governance and security, real-time data management. Major trends in the forecast period include product innovation, self-service data access, data quality improvement initiatives, hybrid data environments, customer-centric MDM.
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Which major companies dominate the master data management market?
Major companies operating in the master data management market are International Business Machines Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., TIBCO Software Inc., Informatica, Talend Data Integration Services Pvt. Ltd., Cloudera Inc., Broadcom Inc., SyncForce, Stibo Group, Teradata Corporation, Profisee, Reltio Inc., Magnitude Software Inc, Ataccama Corp., Winshuttle LLC, Azure Data Catalog, Clear Analytics, Collibra, Semarchy, Pimcore, Riversand (Syndigo) Technologies India Private Limited, EnterWorks, Agility Multichannel Limited, SAP Master Data Governance, Syniti, Contentserv Technologies Private Limited, Clearview AI, Orchestra Networks
What trends will shape the future of the marine interiors market?
Advancing technology resulted in more Agile and Cloud-based MDM is a key trend gaining popularity in the master data management (MDM) market. Major companies operating in the master data management market are focused on developing new technological solutions to strengthen their position. For instance, in March 2022, Informatica, a US-based company operating in master data management, introduced its advanced cloud-native intelligent multi-domain master data management (MDM) solution. It aids in enhancing business operations in many sectors by providing analytics and operational procedures throughout the business value chain, from producer to consumer and places. It helps to manage the relationships between multiple domains in business, such as customer, product, supplier, and locations and assets, including IoT devices or sensors for customer service and relevant communications, by accelerating business outcomes while managing various business risks in signal master records.
Which region dominates the master data management market, and what factors contribute to its leadership?
North America was the largest region in the master data management (MDM) market analysis in 2024. The regions covered in the master data management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How is the master data management market segmented, and which segment holds the largest share?
The master data management market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Mode: Cloud, On-premises
3) By Organization Size: Small And Medium Enterprises(SMEs), Large Enterprises
4) By Application: Supplier Data, Product Data, Customer Data, Other Applications
5) By Verticals: Banking, Financial Services And Insurance(BFSI), Government, Retail, IT And Telecom, Manufacturing, Energy And Utilities, Healthcare, Other Verticals
Subsegments:
1) By Solution: Data Integration Tools, Data Quality Management, Master Data Hub, Data Governance
2) By Services: Consulting Services, Implementation Services, Support And Maintenance, Training And Education
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What defines the structure and scope of the master data management market?
Master data management (MDM) refers to a practice that collects and creates a single record from each person, place, and thing in an organization from internal and external data sources and apps in order to improve business processes. It is used to improve the consistency and quality of data assets to carry out knowledge business decisions.
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