Master Data Management Market To Rise Swiftly Based On Growing Need For Security Of Enterprise Sensitive Data

The global master data management (MDM) market is predicted to witness a healthy CAGR during the forecast period (2013 to 2028), according to a report available on Radiant Insights, Inc. Master data management (MDM) refers to a method that is used by enterprises to link their critical data to common point of reference. It ensures availability of accurate and consistent data from one single point for various businesses processes. Thereby, MDM helps organizations to improve business processes, reduce risks, ensure timely recall of products, cut labor costs, and execute customer care programs. In addition, it also improves profitability and improves operational efficiency of enterprises.

Growing need for security of enterprise sensitive data such as product data, customer details, asset details, and supplier data is anticipated to propel market growth. On-premises deployment of master data management makes it possible for organizations to separate sensitive data from other business data. Growing adoption of advanced master data management solutions by financial institutes such as insurance companies and banks is driving the market. Such financial institutes generate huge amount of financial data from transactions, which comprise sensitive information regarding clients.

To cater to rising demand, manufacturing companies are investing in R&D to develop advanced solutions. For instance, in August 2018, Informatica launched new product innovations in Master Data Management, Intelligent Cloud Services, and Data Privacy and Protection. New MDM capabilities will allow businesses to curate, manage, and consume data containing relevant and contextual information. 

Access "130" page research report with TOC on "Master Data Management (MDM) Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/2013-2028-report-on-global-master-data-management-mdm-market

The master data management market can be segregated on the basis of component type, data type, deployment type, organization size, application, and region. Based on component, the market can be bifurcated into services and solutions. In terms of data type, the market can be categorized into product, consumer, supplier, location, and asset. On the basis of deployment type, the market can be divided into on-premises and cloud. Based on organization size, the market can be segmented into small medium enterprises (SMEs) and large enterprises. On the basis of application, the market can be classified into healthcare, government, BFSI, retail, IT & telecom, energy & utilities, and others.

Regional segmentation includes Asia Pacific, Europe, North America, South America, and Middle East and Africa. North America is anticipated to hold largest market share over the forecast period. This is attributed to presence of majority of key players in the region offering advanced master data management solutions to consumers. Increasing R&D investments by these key players to develop new technologies in MDM will drive regional market growth over the forecast period. US is expected to be the largest consumer of MDM as compared to Canada.

Some of the key players in the master data management market are Oracle Corporation, IBM Corporation, Informatica, SAP SE, and Orchestra Networks.