According to the new market research report “Master Data Management Market by Component (Solutions & Services), Data Type, Deployment Type (Cloud & On-Premises), Organization Size (SMEs & Large Enterprises), Vertical (BFSI, Retail, Manufacturing, Healthcare), and Region – Global Forecast to 2023″, The master data management market size is projected to grow from USD 9.5 billion in 2018 to USD 22.0 billion by 2023, at a CAGR of 18.3% from 2018 to 2023. The major growth drivers for the market include the increasing use of data quality tools for data management and the rising need for compliance.

Report Objectives

  • To determine and forecast the size of the master data management market based on component, deployment type, organization size, data type, vertical, and region during the forecast period from 2018 to 2023
  • To analyze various macroeconomic and microeconomic factors that affect the growth of the market across the globe
  • To forecast the size of the market and its segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America
  • To analyze each submarket with respect to individual growth trends, prospects, and contribution to the overall market
  • To provide detailed information about major factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe

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Recent Developments

  1. In December 2018, TIBCO Software acquired Orchestra Networks Inc. (France), a recognized leader in MDM solutions and a pioneer in data asset management.
  2. In August 2018, Informatica introduced updates to its Informatica Master Data Management (MDM), Informatica Intelligent Cloud Services (IICS), and Data Privacy & Protection, to enable enterprises with intelligent hybrid data management to transform the customer experience.
  3. In January 2018, SAP launched a series of operations in France to accelerate the company’s digital strategy and support France’s growing position as an innovation hub.
  4. In December 2017, IBM introduced IBM InfoSphere Master Data Management Standard and Advanced Edition v11.6.0.4. This new release included MDM Functional Dashboard, which is designed to enable users to quickly understand MDM key business parameters, system performance, and patterns.
  5. In January 2017, Teradata and Information Builders (US), a leading provider of business intelligence & analytics, data integrity, and integration solutions, signed a global resell agreement.

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The North American region has sustainable and well-established economies, which empower it to invest significantly in R&D activities, thereby contributing to the development of new technologies in master data management. The presence of the majority of key players is expected to be the major factor driving the growth of the market in North America. Key players such as IBM (US), Oracle (US), SAS Institute (US), Teradata (US), Informatica (US), Talend (US), TIBCO Software (US), and Riversand (US), along with several start-ups in the region are offering enhanced master data management solutions & services to cater the needs of customers.

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