Enterprise Data Management Market Size, Share & COVID-19 Impact Analysis, By Deployment (Cloud and On-premise), By Enterprise Size (Small & Medium Enterprises (SMEs), and Large Enterprises), By Industry (BFSI, Retail, Healthcare, IT & Telecom, Manufacturing, Government, and Others), By Function (Data Warehouse, Data Governance, Data Integration, Data Security, Master Data Management, and others) and Regional Forecast, 2022-2029

The global enterprise data management market size was valued at USD 78.01 billion in 2021 and is projected to grow from USD 84.55 billion in 2022 to USD 170.46 billion by 2029, exhibiting a CAGR of 10.5% during the forecast period (2022-2029). North America accounted for a market value of USD 22.22 billion in 2021. Based on our analysis, the global market exhibited an average growth of 0.9% in 2020, as compared to 2019. In the scope of the study, we have included companies such as IBM Corporation, Sap SE, Oracle Corporation, Teradata Corporation, and others that offer innovative and advanced on-premises and cloud-based solutions. The enterprise data management solutions is a hybrid data management platform designed for any cloud computing and analytics solutions. Various functions of EDM include data warehouse, data governance, data integration, data security, and master data management, which support businesses in quickly accessing data and enhancing customer experience.

A huge amount of data generated from social media platforms, websites, and connected devices is driving the demand for the market. Globally, as per the CloudTweaks Organization in 2020, around 44 zettabytes of data were generated and is expected to reach 463 exabytes by 2025. Such an increase in the data generated from websites and social media platforms is expected to create ample opportunity for market growth. The enterprise data management solution is used for accessing high-quality unstructured data for accurate analysis. This EDM solution offers compliant and secure solutions under certain regulations and is used to consolidate data across various sources to increase efficiency.

COVID-19 IMPACT

Increased Demand for Data Management from Several Industries to Fuel Market Growth

Government pandemic restrictions such as lockdowns and social isolation have emphasized the importance of experimenting with remote work without prior preparation.

• According to a March 2020 Mercer Pulse survey, only 22% of companies were ready for remote work before the COVID-19 epidemic. According to the report, 37% of employers have implemented mandatory work-from-home (WFH) policies by March 2020, with another 17% required to work remotely for specific departments.

When it comes to large projects, initiatives or portfolios, large enterprises face obstacles. As a result, the need for real-time portfolio and project monitoring dashboards is expected to increase in response to the growing need to monitor critical assets and enterprise data remotely.

Companies are rethinking on their long-term strategy. Organizations are adjusting the composition of product portfolios, mergers and acquisitions, R&D initiatives, and other growth policies in response to a variety of problems they suffered in 2020, comprising demand swings, supply chain disruption, and other pressing issues. For instance,

• Cloudera is making substantial investments in developing its operations in India and has planned to spend around USD 63.3 million in the coming two years. This investment is aimed at expanding the implementation of hybrid data solutions for Indian companies.

Thus, the factors mentioned above indicate that enterprise data management solutions and services are projected to gain traction in the upcoming years.

LATEST TRENDS

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Increasing Adoption of Enterprise Database Management is Likely to Fuel the Market

The escalating application of data management tools in the transportation and logistics industry is boosting the market. The industry has been amplified by the growing use of cloud-based data management tools in transportation and logistics organizations.

Data management in transportation and logistics enhances performance management, processing abilities, visibility, and forecast accuracy. Shipping tasks are complex since huge amounts of data are involved. The rising adoption of refined data tracking technology, as well as a growing requirement for data safety, are anticipated to fuel market growth further.

Increasing implementation of enterprise database management worldwide is a crucial factor influencing market growth. In addition, the increasing awareness towards a more simpler and effective data handling system is also likely to stimulate demand.

Countries have been progressively adapting enterprise database management to aid their employees in handling their vast data sets to increase their productivity. This data is critical, and organizations cannot afford to lose such data.

Application of enterprise databases in aerospace, healthcare, government, military, along with IT and Telecom, is fueling the development of the market. Enterprise database utilization in ITs has grown over time due to the need to manage a large amount of data produced each year.

Rising attentiveness toward benefits related to enterprise data management has encouraged companies to implement it more readily. Manufacturing organizations are coming up with new and more progressive ways to aid enterprises in managing their data.

Thus, the aforementioned factors are likely to propel the enterprise data management market growth during the forecast period.

DRIVING FACTORS

Rise of Data Management and Risk Management Solutions to Boost the Demand for the Market

The organizational risk of the data is growing at a high amount. Poor data management might lead to privacy concerns. In order to minimize the risk, enterprises are using an effectual risk management tool that prevents data breaches. Hence, the need to manage the data as well as reduce the risk of privacy concerns is raising the demand for risk management solutions.

Maintaining the data is quite important to enterprise data management (EDM), as it can considerably affect the productivity and decision-making of the enterprises. Moreover, enterprises' growing need for real-time data management is positively influencing the market growth.

Currently, enterprises have a huge amount of unstructured data. Creating and extracting valuable information from them in real-time is a vital need for any company. The EDM can offer available data for organizations. Due to this, the demand for this accessible data is rising from IT, finance, and other industries, which will significantly impact enterprise data management businesses.

Moreover, the increasing technological advancements, the introduction of new solutions & services, and other strategic alliances by the key player create a lucrative demand for this market. For instance,

• In February 2020, Vodafone Idea collaborated with IBM Corporation to release data security device management solutions for various business functions to manage their workflow.

Therefore, the rise of data management and risk management solutions is expected to boost market growth.

RESTRAINING FACTORS

Costly System Installation Procedures and Lack of Awareness about the Technology May Impede Market Growth

The demand from small-medium enterprises can offer high growth opportunities for the market. However, poor implementation of this tool in SMEs as well as lesser obtainability of resources in small firms lacks the implementation of this high-end technology. Most SMEs are affected by legacy systems and software, which restricts the adoption of contract management technology.

Enterprise software can automate the complete enterprise operations. It can manage countless data with beneficial modifications through this technology. The features and benefits of contract management are immense. However, a lack of awareness about the technology is expected to hamper the pace of adoption. Furthermore, the accessibility of data Silos is likely to restrict the market’s growth during the anticipated period.

Thus, the aforementioned factors are likely to restrict market growth.

SEGMENTATION

By Deployment Analysis

Cloud to Capture Major Market Share Owing to Swift Digital Transformation

By deployment, the market is fragmented into cloud and on-premise. The cloud holds the highest market share and is also expected to grow at the highest CAGR in the forecast period due to its several applications, such as cloud-based deployment enables quicker distribution, a decrease in cost, minimal maintenance, and an increase in scalability. Also, rising adoption of cloud-based services among developed countries such as the U.S., Germany, France, and the U.K is expected to increase the demand for the EDM solutions. According to the European Commission Organization Report in 2021, in Europe, cloud services adoption increased by 43% amid the COVID-19 pandemic.

Though, the on-premise execution augmented the software deployment charge along with up-gradation charges, the on-premise installation witnessed a noteworthy share in the market in 2021. Many companies are adopting on-premise deployment owing to enhanced security features. In addition, few EDM solutions do not need an internet connection and can be simply customized to the business needs.

By Enterprise Size Analysis

Large Enterprises is Expected to have Largest Share Owing to Rising Data Generation and Surge in Demand for the Data Storage

Based on enterprise size, the market scope includes SMEs and large enterprises. Among these, large enterprises are expected to hold the largest share in 2021. This is primarily attributed to rising investment by key players for the adoption of EDM and cloud computing-based solutions. Also, large-scale enterprises are investing a considerable amount in the digital transformation of business processes. According to the Digital Investment Index, in 2022, large-scale companies are making considerable investments in digital transformation, increasing by up to 65% compared to 2020.

SMEs are growing at a moderate pace owing to the rising shifting trend from the on-premises to the cloud among enterprises. Also, leading players are acquiring SMEs to promote digital transformation, which will increase the enterprise data management market share.

By Industry Analysis

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IT & Telecom to Generate High Revenue Owing to Increase in Need for Data Management

Based on industry, the market scope consists of BFSI, retail, healthcare, IT & telecom, manufacturing, government, and others (media & entertainment and education, among others). IT & telecom to gain maximum market share during the forecast period. This is primarily attributed to the rising demand for data storage and data management across leading IT firms around the globe. Furthermore, IT and telecom companies continue to extend innovation activities to assist long-term projects in potential strategic areas. For instance,

• In July 2021, Informatica launched Intelligent Data Management Cloud on Azure for the Asia Pacific. The system is an end-to-end AI-driven cloud solution providing availability on Microsoft Azure for Asia Pacific and Southeast Asia.

The BFSI sector is growing at a moderate CAGR during the forecast period. In the BFSI sector, the EDM is used for validating, acquiring, validating operational risk, analysis, and customer and financial data management. It builds a single version of the truth in a transparent, consistent, and fully audited environment.

By Function Analysis

Data Warehouse is expected to have Largest Share owing to Rising Demand for the Data Storage among the Enterprises

Based on function, scope of the study includes data warehouse, data governance data integration, data security, master data management, and others (quality, data synchronization, etc.). Data warehouse is expected to dominate the revenue share during the forecast period. This is owing to a surge in demand for data storage among enterprises, with soaring investment in cloud technology. According to Gartner Study in 2022, cloud IT infrastructure spending is anticipated to grow to USD 90 billion from USD 66.8 billion in 2019.

Master data management function is growing with the highest CAGR during the forecast period. Organizations around the world have shifted to EDM suppliers for a range of solutions and services. The trend is expected to remain strong in the anticipated period as it aids enterprises by providing them with complete solutions, including enhanced features such as increased visibility, control over their data, and support for ongoing regulations and compliance.

REGIONAL INSIGHTS

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In terms of region, the market is divided into five key regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. They are further segmented into countries.

North America accounted for the highest market share in 2021, owing to the increased adoption of cloud, artificial intelligence, and analytics across business operations in various industries in the U.S. and Canada. Mexico is expected to create new market opportunities. For instance,

• In March 2020, a report published by Congressional Research Service stated that, since 2009, the Federal Government had transferred its data storage from in-house data centers to cloud-based. The shift in data storage aims to accomplish major goals include, lower the Federal Government IT investment and leveraging cloud adoption benefits such as reliability, security and accessibility.

Furthermore, many companies in the region, such as Oracle Corporation, Amazon.com Inc., and IBM Corporation are present in this region. Further, the rising adoption of next-gen technologies, such as big data analytics, IoT, AI, and machine learning, aids the market growth.

Europe is growing at a moderate pace for the global market during the forecast period. This is owing to the companies across European countries such as France, Germany, and the U.K. are implementing data management tools to gain insights and analysis of the customers and their business to plan future strategies. For instance,

• In March 2021, Microsoft Corporation collaborated with London-based Schlumberger Limited to implement EDM solutions in the energy industry. The company aims to support the digital transformation of the energy industry by providing access to its data and offering integrated AI to boost data management.

Europe is also witnessing significant adoption of advanced technologies such as artificial intelligence, machine learning, and the internet of things to boost business operations and enhance customer relationships.

Asia Pacific is projected to witness notable growth in the forecast period due to rising government investments in developing IT infrastructure and a surge in cloud infrastructure investments. For instance, in September 2022, ThoughtSpot Cloud Analytics Company invested around USD 150 million in IT infrastructure development. The investment is made to increase the research and development regarding the next-generation IT technologies such as cloud computing AI and others.

In South America, growing investments by Chile, Argentina, Brazil, and Columbia governments are improving the adoption of digitalization, thereby driving the market growth. The COVID-19 pandemic surged the adoption of digital technologies in the region. For instance,

• In October 2020, IT spending in Latin America is anticipated to rise by 7.7% in 2021, which is expected to fuel the market growth in the region.

The Middle East and Africa countries, such as GCC, Turkey, and South Africas are allotting dedicated funds for digital transformation through the adoption of advanced technologies. This is expected to boost the adoption of EDM in the region. For instance,

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• In March 2020, Dubai-based StarLink announced a partnership with Commvault to empower companies with EDM capabilities. The companies aim to offer on-premises and cloud-based enterprise data management with a major focus on the data security landscape.

KEY INDUSTRY PLAYERS

Key Players Emphasize Advanced Enterprise Data Management to Strengthen their Positions

The global market comprises a vibrant startup ecosystem. Over 100 startups are anticipated to develop and innovate EDM solutions for customers in the market. Such a market is projected to build robust competition, imposing current organizations to update and implement new advances in product offerings continuously. The companies are offering managed services for data transmission and management among enterprises.

List of the Key Companies Profiled:

• Oracle Corporation (U.S.)


• IBM Corporation (U.S.)


• SAP SE (Germany)


• Amazon.com Inc. (U.S.)


•  Cloudera, Inc. (U.S.)


• Commvault (U.S.)


• Mindtree Ltd. (India)


• Teradata Corporation (U.S.)


• Talend (U.S.)


• Informatica Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• In July 2021: Informatica launched Intelligent Data Management Cloud on Azure for Asia Pacific. The system is an end-to-end AI-driven cloud solution offering availability on Microsoft Azure for Asia Pacific and Southeast Asia.


•  In July 2021: Hewlett Packard Enterprise declared that it signed an agreement to purchase Zerto, a cloud data management & Protection Company valued at USD 374 million. This purchase develops HPE GreenLake and endures HPE Storage's transition to a cloud-based, software-defined data services business.


• In December 2020: Mindtree collaborated with Databricks, an AI and data firm to aid customers employ cloud-driven data solutions for advanced analytics. This service will aid Databricks platform implementing it throughout their customer journey.


• In January 2020: Oracle collaborated with Innovative Routines International (IRI), where the data management solution IRI Voracity runs on Oracle Cloud Infrastructure (OCI). Voracity on OCI enables modern SaaS and PaaS options for small to medium-sized business and customers looking for cheaper, faster, and extremely secure execution in the cloud for extraction, transformation, and load (ETL) jobs.


• In November 2019: SAP partnered with SnapLogic to aid companies easily and quickly prepare and deliver data from hundreds of data sources and applications to the SAP Data Warehouse Cloud solution, the newest addition to SAP HANA Cloud Services.


• In September 2019: IBM modified its z15 enterprise platform which has been engineered for managing the privacy of customer data across hybrid multi-cloud environments.

REPORT COVERAGE

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The study on the market includes prominent areas worldwide to get a better knowledge of the industry. Furthermore, the research provides insights into the most recent industry and market trends, as well as an analysis of technologies that are being adopted quickly worldwide. It also emphasizes some of the growth-stimulating restrictions and elements, allowing the reader to obtain a thorough understanding of the industry.

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