DUBLIN–(BUSINESS WIRE)–The “Global Data Management Software Market: Analysis By Type, By Organization Size, By Deployment Type, By Application, By Region Size & Forecast with Impact Analysis of COVID-19 and Forecast up to 2028” report has been added to ResearchAndMarkets.com’s offering.
In 2022, the global data management software market was valued at US$110 billion, and is probable to reach US$263.68 billion by 2028.
Enterprises want to extract insights from the explosion of data, but are challenged with siloed data, lack of real-time analytics, and skills gaps.
Thus, arising the need for data management solutions. Data Management Software refers to a set of tools and applications that are designed to help organizations and individual’s store, organize, process, and manage data efficiently. This software can include database management systems, data integration tools, data quality tools, data governance software, data warehousing tools, and more.
An overarching mission of most data management software vendors is to leverage numerous data sources to improve customer experiences and increase operational efficiencies. The market is expected to rise as the software is expected to integrate with business intelligence (BI) and analytics tools.
Businesses will continue to demand data management software that integrates with BI and analytics tools to provide real-time insights and visualizations. The global data management software market is projected to grow at a CAGR of 16.10%, during the forecast period of 2023-2028.
Market Segmentation Analysis:
- By Type: According to the report, the global data management software market is segmented into six types: Database Management System (DBMS), Data Integration Software, Data Quality Software, Master Data Management Software, Meta Data Management Software and Other Software. Database Management System (DBMS) segment acquired majority of share in the market in 2022, as it manages the underlying data storage, access controls, backup and reporting, and security features. Database Management System (DBMS) is further divided on the basis of database type, including Relational DBMS and Non-Relational DBMS. Also, this market is segmented on the basis of process type, which includes Operational DBMS (OLTP) and Analytical DBMS (OLAP).
- By Organization Size: The report bifurcated the global data management software market into two organization size: Large Enterprise and Small and Medium Enterprises. Large Enterprise segment acquired majority of share in the market in 2022, as large enterprises’ strong emphasis on adopting operative data tactics to classify and forecast potential threats and use this data to make faster business decisions. Whereas, Small and Medium Enterprises segment is expected to have the highest CAGR in the future, as SMEs are significantly adopting enterprise software to enrich employees’ productivity, quickly expand the customer base, minimize compliance risks, and increase business profitability.
- By Deployment Type: The global data management software market is further divided into two segments based on deployment type: On-Premises and Cloud. On-Premises segment acquired majority of share in the market in 2022, owing to the increased security features, many organizations are opting for on premise deployment. Whereas, cloud segment is expected to have the highest CAGR in the future as enterprises are quickly embracing cloud-based solutions since cloud-based deployment eliminates the need for manual upgrades on a regular basis and enables users to access data without trouble regardless of their location.
- By Application: According to the report, the global data management software market is segmented into six applications: BFSI, IT and Telecom, Healthcare, Retail and Consumer Goods, Manufacturing and Other Application. BFSI segment acquired majority of share in the market in 2022, as implementing data management solutions can assist incumbents in the BFSI industry manage enterprise-wide risks more effectively, improve sales and marketing operations, track and monitor finance and accounting procedures. Whereas, healthcare segment is expected to have the highest CAGR in the future owing to the improved patient care. Data management software can help healthcare providers access and analyze patient data quickly and easily, leading to better diagnosis and treatment plans.
- By Region: The report provides insight into the data management software market based on the geographical operations, namely North America, Europe, Asia Pacific, and Rest of the World. North America data management software market enjoyed the highest market share in 2022.
- Asia Pacific region is expected to grow at the fastest CAGR during the forecast period owing to the region’s expanding industry verticals and adoption of big data.
- Ubiquity of Data
- Growing Spending on Software
- Increasing Adoption of Data Virtualization
- Growing Importance of Data Privacy and Security
- Skill Gap
- Lack of Real Time Analytics
- Increasing Adoption of Internet of Things (IoT)
- Integration of Artificial Intelligence
- Shift Towards Cloud-based Solutions
- Unstructured Data
- Amazon.com, Inc. (Amazon Web Services, Inc.)
- Microsoft Corp. (Microsoft Azure)
- International Business Machines Corporation (IBM)
- Oracle Corporation
- Teradata Corporation
- SAP SE
- Alphabet Inc. (Google Cloud Platform)
- Informatica Inc.
- MongoDB, Inc.
- Snowflake Inc.
- Confluent, Inc.
- SAS Institute
For more information about this report visit https://www.researchandmarkets.com/r/azgo6p
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