At the high level, a master data management solution provides a central repository of data that is critical to the organization along with the policies, processes, and tools to manage this data. Typical examples of master data would include things like customer or product data. The biggest benefit of a master data management solution is that it provides a centralized, consolidated repository that serves as the authoritative source of master data. Data in the MDM repository is consolidated from multiple sources, cleansed, and de-duplicated. An organization’s critical requirement to have a centrally managed data is driving the need for master data management globally. However, data ownership and security of data stored over the cloud is hampering the growth of the market.
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Companies Profiled in this report includes are, Oracle, TIBCO Software Inc., Informatica Corporation, IBM, SAP, SAS Institute, Inc., Talend, Inc., SyncForce, Teradata Corporation, Orchestra Networks, Riversand Technologies, Inc., amongst others.
Amongst the industry type, BFSI is a dominant segment holding the largest market share. It is also anticipated to be the fastest growing market during the forecast period. Financial institutions located all over the world generate a large amount of customer, trade, and other financial data. These banks have a variety of systems installed and the need to have a consolidated, centralized managed data is driving the master data management market in industry.
Stringent Government Rules with Respect to Customer Confidentiality Management to drive the Market in North America.
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Global Master Data Management Industry Background
North America has the presence of large enterprises and large capital industries, generating a tremendous volume of data from diverse IT system set up. The strict government rules regarding data protection and data storage, has led to the adoption of master data management solution in the organizations.
In December 2017, Oracle Corporation acquired Aconex Limited for US$ 1.2 billion. Aconex’s software is used by infrastructure and building projects, providing management of data, documents and cost across all stages of a construction project life cycle.
Master Data Management Market – By Application (Customer Data,Product Data,Supplier Data,Site,Others)
Market By Deployment, Cloud,On Premise
Market By Service Type, Consulting, Implementation, Training and Support
Market By User Type, SMBs, Large Enterprises
Market By Industry, BFSI, Government, Retail, IT and Telecom, Manufacturing, Energy and Utilities, Healthcare, Transportation and Logistics, Media and Entertainment, Others
Market By Region, North America, U.S., Rest of North America, Europe, France, The UK, Spain, Germany, Italy, Rest of Europe, Asia Pacific, China, Japan, India, Southeast Asia, Rest of Asia Pacific, Middle East and Africa, GCC Countries, Southern Africa, Rest of Middle East and Africa, Latin America, Brazil, Rest of Latin America
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