With 10.5% CAGR, Enterprise Data Management Market Worth USD 170.46 billion by 2029
According to Fortune Business Insights, the global Enterprise Data Management Market size is projected to reach USD 170.46 billion by 2029, at a CAGR of 10.5% during the forecast period, 2022-2029
Pune, India, Dec. 01, 2022 (GLOBE NEWSWIRE) — The global enterprise data management market size was valued at USD 78.01 billion in 2021. The market size is expected to rise from USD 84.55 billion in 2022 to USD 170.46 billion by 2029 at a CAGR of 10.5% during the projected period. Fortune Business Insights™ publishes this information in a report titled, “Global Enterprise Data Management Market Forecast, 2022-2029”.
According to the report, the market is expected to rise during the forecast period due to several reasons, such as a growing requirement for data safety and the rising adoption of refined data tracking technology.
Key Industry Development:
July 2021: Zerto announced an agreement with Hewlett Packard Enterprise to boost HPE GreenLake as-a-service cloud services.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 10.5% |
| 2029 Value Projection | USD 170.46 Billion |
| Base Year | 2021 |
| Enterprise Data Management Market Size in 2021 | USD 78.01 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 150 |
| Segments covered | Deployment, Enterprise Size, Industry, Function and Geography |
| Enterprise Data Management Market Growth Drivers | Growing Use of Cloud-Based Data Management Tools to Augment Growth |
Growing Adoption of EDM Services & Solutions to Bolster Market Growth
The COVID-19 pandemic has had a positive impact on the global enterprise data management (EDM) system. The growth of the market is attributed to the growing adoption of EDM services & solutions by several firms to manage their workflow. The sudden lockdown and social isolation norms tend organizations to switch to remote work policies, which supported the online market growth for enterprise data management during the pandemic period.
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Drivers & Restraints:
Growing Use of Cloud-Based Data Management Tools to Augment Growth
The enterprise data management market for EDM is likely to witness impressive growth during the forecast period. The market growth is attributed to the growing use of cloud-based data management tools in the logistics and transportation industry, and the effective use of risk management tool that prevents data breaches has spurred the market growth. Also, its capability of handling the data from security breaches is expected to augment the market growth. Meanwhile, a decline in poor implementation of this tool in SMEs may hamper the market growth.
Segments:
Rising Applications of Cloud Segment Will Augment Market Growth
On the basis of deployment, the market is bifurcated into on premise and cloud. The cloud segment is anticipated to hold the highest share due to its various applications, such as minimal maintenance, and an increase in scalability, and cloud-based deployment enables quicker distribution.
Large Scale Enterprise Segment to Witness Growth Due to Rising Adoption of EDM and Cloud Computing-Based Solutions
In terms of enterprise size, the enterprise data management market scope includes large scale enterprise and SMEs. The large scale enterprise segment is anticipated to hold the highest market share due to the adoption of EDM and cloud computing-based solutions.
Rising Demand for Data Storage in the IT sector Propel Segment Growth
Based on industry, the enterprise data management market is divided into healthcare, IT & telecom, manufacturing, government, BFSI, retail, and others. IT & telecom segment to gain prominent market share due to the rising demand for data storage and data management across leading IT firms.
Soaring Investment in Cloud Technology Spurs Data Warehouse Segment
With respect to function, the market is fragmented into data governance, data integration, data security, master data management, data warehouse, and others. The Data warehouse will gain traction due to the soaring investment in cloud technology.
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Report Coverage:
The report sheds light on recent developments and current market trends. Also, drivers and restraints affecting the market growth are highlighted further in this report. The impact of the COVID-19 pandemic on the global market share is discussed along with the business development strategies adopted by the key market players. Furthermore, regional market insights and recent launches by prominent players are given in this report.
Regional Insights:
North America will dominate in the Market Due to Emerging Technologies
North America dominates the global enterprise data management market share due to the increasing adoption of technological advancements such as artificial intelligence, cloud, and analytics across business operations in various industries. The regional market stood at USD 22.22 billion in 2021.
Europe holds the second-largest market share due to the implementation of data management tools across various businesses to plan future strategies and gain insights and analysis of the customers to better hold their position in the marketplace.
Competitive Landscape:
Key Players Focuses on Acquiring Supportive Organizations to Strengthen their Market Position
The key market players are focusing on acquiring supportive organizations and forming strategic alliances to expand their business scope and profitability. Also, the growing adoption of technological advancements in the IT industry allows prominent market players to boost their product portfolios. Also, innovative product development strategies allow key market players to launch effective products that meet the business requirement.
List of Key Players Profiled in the Report:
- Oracle Corporation (U.S.)
- IBM Corporation (U.S.)
- SAP SE (Germany)
- Amazon.com Inc. (U.S.)
- Cloudera, Inc. (U.S.)
- Commvault (U.S.)
- Mindtree Ltd. (India)
- Teradata Corporation (U.S.)
- Talend (U.S.)
- Informatica Inc. (U.S.)
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Table of Contents
- Global Enterprise Data Management Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Deployment (USD)
- Cloud
- On-premise
- By Enterprise Size (USD)
- Small & Medium Enterprises (SMEs)
- Large Enterprises
- By Industry (USD)
- BFSI
- Retail
- Healthcare
- IT & Telecom
- Manufacturing
- Government
- Others
- By Function (USD)
- Data Warehouse
- Data Governance
- Data Integration
- Data Security
- Master Data Management
- Others
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Enterprise Data Management Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Deployment (USD)
- Cloud
- On-premise
- By Enterprise Size (USD)
- Small & Medium Enterprises (SMEs)
- Large Enterprises
- By Industry (USD)
- BFSI
- Retail
- Healthcare
- IT & Telecom
- Manufacturing
- Government
- Others
- By Function (USD)
- Data Warehouse
- Data Governance
- Data Integration
- Data Security
- Master Data Management
- Others
- By Country (USD)
- United States
- Canada
- Mexico
- South America Enterprise Data Management Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Deployment (USD)
- Cloud
- On-premise
- By Enterprise Size (USD)
- Small & Medium Enterprises (SMEs)
- Large Enterprises
- By Industry (USD)
- BFSI
- Retail
- Healthcare
- IT & Telecom
- Manufacturing
- Government
- Others
- By Function (USD)
- Data Warehouse
- Data Governance
- Data Integration
- Data Security
- Master Data Management
- Others
- By Country (USD)
- Brazil
- Argentina
- Rest of South America
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