The leading firms in the global master data management market are Tibco Software Inc, IBM Corporation, Oracle Corporation, SAP AG, Riversand Technologies, SAS Institute Inc, SyncForce, Informatica Corporation, Orchestra Networks, and others. These players are set to bolster the growth of the global master data management market.
According to the analysts at Zion Market Research, the global master data management market was capitalized at USD 11,517.3 Million in 2016 and is likely to cross almost USD 37,976.0 Million by end of 2022, at a CAGR of 22% between 2017 and 2022.
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Technical Advancements To Boost The Master Data Management Market In The Future
The master data management market has encountered various improvements in the last couple of years. With the beginning of the IoT (Internet of Things), the penetration of information technology all over different sectors have elevated. Various organizations have lifted up their investments in IoT tech. The IoT technology provides a broad range of advantages to organizations in the industries of big data analytics, cloud computing, and global networks, thereby powering the master data management market. The master data management market is likely to extend at a CAGR of almost 22% in the years to come and the master data management market is likely to cross almost USD 37,976.0 Million by 2022 in terms of income.
Various M&A by the market players are set to power the development of the master data management market. For example, in December 2017, Iron Mountain Inc. concluded the acquirement of IO Data Centers LLC, the U.S. operations for Phoenix-located. It purchased IO for $1.34 Billion. The acquirement comprises almost an extra $60 Million on the basis of future performance
The master data management market companies have been aiming at the innovations in terms of tech improvements and to elevate the durability & safety. Mounting requirements for operational excellence and data quality are some of the drivers that power the development of the master data management market. Current data ownership issues can be one of the limitations of the master data management market. The up-and-coming nations are likely to boost the lucrative growth opportunities of the global master data management market in comparison to the developed nations with improved tech.
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The global master data management market is divided into application, types, regions, and industries. The type section in the master data management market comprises consulting, implementation, and training & support. In addition to this, based on application the master data management market is divided into customer data, product data, and supplier data. Government, BFSI, IT & telecom, retail, healthcare, and manufacturing among others are the sectors that are included in the classification of the master data management market. The master data management market is examined on the basis of 5 regions such as Europe, North America, Latin America, Asia-Pacific, and the Middle East & Africa. The regional categories are divided into different nations such as the U.K., the U.S., Germany, France, Japan, China, Brazil, and India.
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