Trends and Forecasts in the Enterprise Data Management Market: Future Market Insights, Inc. - FMIBlog
Due to the rising utilization of Internet of Things (IoT) gadgets, the worldwide enterprise data management industry is projected to expand to a value of US$ 208.9 billion by 2032, with a compound annual growth rate (CAGR) of 8.4%. Anticipated revenue for the market in 2022 is US$ 93.5 billion, indicating a 1.1x increase compared to the sales of US$ 85.4 billion in the previous year.
Moreover, the growing tendency of companies towards incorporating data together is predicted to generate a need for managing corporate data in the foreseeable future. Companies are adopting various data integration methods to assist in their journey towards digital transformation. Additionally, the Industrial Internet of Things (IIoT) is anticipated to elevate the sector throughout the evaluation timeframe.
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Based on the 2020 Analytics Insight Report, the growing trend of IIoT has led to a significant increase in the need for data integration. However, worries about data security are predicted to hinder market growth in the future. Nevertheless, the rising demand for risk management and software by companies is anticipated to offset this setback and expand the market's scope.
Important Points from the Market Analysis
Prominent participants in the worldwide enterprise data management sector consist of SAS Institute Inc., IBM Corporation, Oracle Corporation, Teradata Corporation, and SAP SE, amongst other notable entities. The latest advancements in this field are outlined below:
In its latest release, Future Market Insights provides an objective evaluation of the worldwide enterprise data management market. This report offers insights based on past performance from 2015 to 2021, as well as projected statistics for the period of 2022-2032.
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Major Sections Featured in the Market Analysis of Enterprise Data Management
The market for managing enterprise data based on components:
The market for managing enterprise data based on the way it is implemented:
The market for managing enterprise data according to the size of the organization:
The market for enterprise data management categorized by industrial sector: In today's digital age, the demand for effective management of enterprise data is increasing across different industries. Organizations are realizing the importance of properly handling and utilizing the massive amounts of data they generate. The enterprise data management market is witnessing significant growth in various industrial verticals including healthcare, retail, banking, manufacturing, and more. Each sector has its unique data requirements and challenges. In the healthcare industry, managing patient records, medical histories, and test results is crucial for providing quality care. Enterprise data management solutions help healthcare providers efficiently store, retrieve, and analyze this valuable information. The retail sector heavily relies on customer data to deliver personalized experiences and improve sales. By effectively managing customer data, retailers can gain insights into consumer behavior, preferences, and buying patterns, facilitating targeted marketing campaigns. For the banking industry, data management is critical in ensuring the security and privacy of customer information while complying with regulatory requirements. Enterprise data management technologies enable banks to securely store and process financial data, detect fraudulent activities, and monitor transactional behavior. Manufacturing companies generate vast amounts of data throughout the production process. Efficient data management solutions assist in optimizing production, tracking inventory, and identifying areas for improvement. Other industrial sectors, such as telecommunications, energy, and transportation, also benefit from enterprise data management solutions tailored to their specific needs. As the amount of data continues to grow exponentially, organizations in various verticals are investing in advanced enterprise data management solutions to unlock the potential of their data assets.
Regional Analysis of the Enterprise Data Management Market: The market for enterprise data management is analyzed based on different regions.
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Future Market Insights is a highly respected market research company that has been recognized for its excellence with the prestigious Stevie Award. Certified by ESOMAR and a member of the Greater New York Chamber of Commerce, our organization is dedicated to providing valuable insights into the market and the factors that drive demand. We are committed to uncovering opportunities that will contribute to the growth of the market in different areas such as source, application, sales channel, and end use. Our analysis looks ahead to the next 10 years, allowing businesses to anticipate and prepare for future developments.
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