PUBLISHER: Allied Market Research | PRODUCT CODE: 1266365
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266365
The global enterprise data management market is envisioned to garner $224,520.1 million by 2031, growing from $79,733.8 million in 2021 at a CAGR of 10.8% from 2022 to 2031.
The growing number of small and medium enterprises backed by massive investments from government and regulatory bodies and alliances is fueling the global enterprise data management market. Many enterprises have implemented enterprise data management (EDM) to govern and monitor their operations and ensure a seamless flow. Furthermore, an increase in the demand for risk management is expected to drive the enterprise data management market during the forecast period. The organization manages its risk and maximizes opportunities for database management in all aspects with the help of risk management systems, which causes the organization to adopt enterprise data management to a large extent. This factor is expected to boost overall market growth over the forecast period.
It is anticipated that the biggest barrier to the market for enterprise data management will be the growing accessibility and ease of availability of open source solutions. Furthermore, most platforms that are readily available as open sources are user-friendly. For backend programmers, these open-source platforms are simple to attack, which can lead to a simple data breach. Data breaches may be seen as the main hindrance to the enterprise data management market's growth over the forecast period.
Several enterprises and corporations' profit from it since it enables seamless connection with consuming apps, data management, enhanced transparency, and support for continuing regulations & compliance. These factors are projected to drive the global corporate data management market during the forecast period. EDM supports many companies in dealing data management issues that might lead to data mismanagement. It implements a structured data distribution technique from the data producer to the data user. It consists of several parts, including software, network infrastructure, business judgment, and laws that are utilized to regulate the flow of data.
Businesses that have been able to deal with the effects of COVID-19 and adapt them have greatly benefited from data management systems. It has always been important to recognize change and respond to it quickly. During this crisis, it is more critical than ever to have responsive strategies and competencies to satisfy company needs. The pandemic situation has made it difficult for company strategists and data managers to balance a number of special circumstances for the coming years.
The key players profiled in this report include: NTT Communications Corporation, IBM Corporation, SAP SE, SAS Institute Inc., Cloudera, Inc., HP Development Company, L.P., Microsoft, TierPoint, LLC., VMware, Inc., and Amazon Web Services, Inc.