Zion Market Research has published a new report titled “Master Data Management Market by Types (Implementation, Consulting, and Training) by Application (Product Data, Customer Data Supplier Data and Others) for BFSI, Government, Retail, IT & Telecom, Manufacturing, Healthcare and Other Industries. Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, the global master data management market was valued USD 11,517.3 million in 2016 and is expected to reach around USD 37,976.0 million by 2022, at a CAGR approximately 22% for the forecast period from 2017 to 2022.
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The master data management market has undergone tremendous advancement in the past few years. With the initiation of the internet of things (IoT), the penetration of information technology across various industries have increased. The Enterprises and the organizations have raised up their investments in IoT technology. The technology of IOT offers a wide range of benefits to organizations in the sectors of cloud computing, big data analytics, and global networks. The market for master data management is anticipated to expand at a CAGR of approximately 22% during the forecast period from 2017 to 2022 and market is expected to reach approximately USD 37,976.0 million in terms of revenue by 2022.
The master data management market players have been focusing on the innovations in terms of technological advancements and to increase the safety and durability. Mounting demands for operational excellence and data quality is one of the drivers which drive the growth of the master data management market. Ongoing data ownership concerns can be one of the restraints for the market. The emerging economies are expected to present lucrative growth opportunities to the global master data management market than developed countries with advanced technology.
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The global master data management market is segmented into types, application, industries, and regions. The type segment for the master data management market includes implementation, consulting and, training & support. Further, on the basis of application the market for master data management is segmented into product data, customer data and, supplier data among others. BFSI, government, retail, IT & telecom, manufacturing and, healthcare among others are the industries which are included as a segmentation for the master data management market. The market is analyzed based on five regions namely North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. The regional segment is bifurcated into various countries such as US, UK, France, Germany, China, Japan, India, and Brazil.
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The leading companies in the global master data management market are IBM Corporation, Tibco Software Inc, SAP AG, Oracle Corporation, SAS Institute Inc, Riversand Technologies, Informatica Corporation, SyncForce, and Orchestra Networks among Others.
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