SAN FRANCISCO, Jan. 31, 2023 /PRNewswire/ -- The global enterprise data management market size is anticipated to reach USD 221.58 billion by 2030, registering a CAGR of 12.1% from 2023 to 2030, according to the recent reports of Grand View Research, Inc. An increased use of data quality tools for data management, a surge in cloud deployment for master data management, and rising need for compliance are key driving factors for the growth of the industry. Enterprise data management solutions help in ensuring that the data is highly secured and protected against data loss. Given the rising instances of data breaches, companies not being alert enough to safeguard their assets could be exposed to data threats and may end up with data breaches, tarnished reputations, and financial losses. These factors are driving the adoption of EDM solutions. These solutions help organizations in ensuring that all types of data are organized and easily accessible for future use.

Key Industry Insights & Findings from the report:

• The software segment is anticipated to observe the fastest CAGR during the forecast period. The increasing adoption of EDM solutions, their flexible costs, and rising deployment among organizations are likely to contribute to the segment growth over the forecast period.
• The professional services segment is anticipated to observe a considerable CAGR during the forecast period.
• The segment growth can be attributed to the increasing adoption of EDM services for data storage and data management of customers.
• Factors, such as secure storage, 24x7 uptime, and interoperability, have led professional services providers to focus on the digitalization of data.
• The on-premise segment is anticipated to observe a steady CAGR during the forecast period.
• Factors, such as flexibility and scalability of software customization, control over the data center, and security aspects, are expected to contribute to the segment growth over the forecast period.
• The large enterprise segment accounted for the highest revenue share in 2022 due to the increased data volume coupled with the growing need to effectively access, manage, and adopt data approaches across the large enterprise segment.

Read 120-page market research report, "Enterprise Data Management Market Size, Share & Trends Analysis Report By End-use (BFSI, Healthcare), By Component (Software, Services), By Deployment, By Enterprise Size, By Services, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Enterprise Data Management Market Growth & Trends

EDM solutions aid in the creation of a structure for delivering actionable insights from unstructured or duplicated data. These solutions also aid in the management of data across departments and provide qualified information. Master data management solutions, on the other hand, consolidate data into a single master reference source to provide accurate, consistent, and complete data across the enterprise. Enterprises' strong emphasis on ensuring timely qualified information is anticipated to drive the growth of the industry during the forecast period. Large enterprises with multiple departments that are constantly processing large amounts of data may end up with a jumbled data set if they fail to implement or choose the appropriate data management solutions. Furthermore, address data are missing key elements that cause issues with route optimization.

Difficulties with address structures and varying validation rules from country to country are proving to be significant issues. Address validation is a component of address data management. However, EDM solutions can aid in data management, data quality, and data address validation but are emerging as potential roadblocks to industry growth. The Asia Pacific region is expected to have significant growth from 2023 to 2030 due to the growing popularity of cloud computing and the rising need to improve operational efficiency in large enterprises and SMEs. The healthcare segment is anticipated to observe significant growth during the forecast period. EDM systems are widely used to plan energy supply and meet the continuous energy demand of hospitals without any interruption. It also helps in integrating and analyzing medical data to make patient care well-organized and extract insights that can give better results while protecting the privacy and security of the data.

Enterprise Data Management Market Segmentation

Grand View Research has segmented the global enterprise data management market based on component, services, deployment, enterprise size, end-use, and region

Enterprise Data Management Market - Component Outlook (Revenue, USD Billion, 2018 - 2030)

• Software
• Services

Enterprise Data Management Market - Services Outlook (Revenue, USD Billion, 2018 - 2030)

• Managed Services
• Professional Services

Enterprise Data Management Market - Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

• Cloud
• On-premise

Enterprise Data Management Market - Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

• Small & Medium Enterprise (SME)
• Large Enterprise

Enterprise Data Management Market - End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• IT & Telecom
• BFSI
• Retail & Consumer Goods
• Healthcare
• Manufacturing
• Others (Government, Transportation, Education, Real Estate, and Media & Entertainment)

Enterprise Data Management Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• Thailand
• South Korea
• Latin America
• Brazil
• Mexico
• MEA
• UAE
• Saudi Arabi

List of Key Players of Enterprise Data Management Market

• International Business Machines Corp.
• Oracle Corp.
• SAP SE
• Cloudera, Inc.
• Amazon Web Services, Inc.
• Teradata
• MindTree Ltd.
• Broadcom (Symantec)
• Informatica
• Mind Focus

Check out more related studies published by Grand View Research:

• Metadata Management Tools Market - The global metadata management tools market size is projected to reach USD 36.44 billion by 2030, registering a CAGR of 20.8% from 2022 to 2030, according to a new study published by Grand View Research, Inc. Factors such as the increasing prominence of centralized data administration, the rising demand for metadata management in data security, and the high demand for greater data quality and trustworthy analytics are expected to propel the growth of the market during the forecast period.
• Drone Data Service Market - The global drone data service market size is expected to reach USD 8.15 billion by 2025, expanding at a CAGR of 57.3%, according to a new report by Grand View Research, Inc. The growth can be attributed to the growing usage of information acquired by drones in operational and big data analytics. The increasing need for UAV imagery analysis is presumed to impact the global drone imagery processing software industry positively and add a new horizon in imagery storage technologies.
• Data Center UPS Market - The global data center UPS market size is anticipated to reach USD 5.67 billion by 2020, at a registering a CAGR of 7.3% over the forecast period, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.3% during the forecast period. Increasing adoption of cloud computing services and soaring need for uninterrupted power to ensure efficient operations in banks, financial institutions, and businesses are expected to propel the data center uninterruptible power supply market.

Browse through Grand View Research's  Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.