The master data management market is projected to grow from USD 9.5 billion in 2018 to USD 22.0 billion by 2023, at a CAGR of 18.3% during the forecast period. The major factors driving the market include the increasing use of data quality tools for data management and the rising need for compliance.
The vendors covered in the market report include IBM (US), SAP (Germany), Oracle (US), SAS Institute (US), Teradata (US), Informatica (US), Talend (US), TIBCO Software (US), Riversand (US), SyncForce (Netherlands), Profisee Group (US), Reltio (US), Semarchy (US), Stibo Systems (Denmark), and EnterWorks (US). These players have adopted various growth strategies, such as partnerships, agreements & collaborations, new product launches & product enhancements, and acquisitions to expand their presence in the master data management market. Partnerships, agreements & collaborations and new product launches have been the most adopted strategies by the major players from 2016 to 2019 to innovate their offerings and broaden their customer base.
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Informatica has been acknowledged as one of the leading vendors of independent master data integration solutions. The company offers a diverse set of products and services, which include big data, master data management, cloud integration, data quality, Informatica platform, data integration, and data security. The company provides an advanced solution, Intelligent Master Data Management, in the market. The company is mostly focused on organic growth strategies, such as new product launches and product enhancements, to strengthen its innovative product portfolio. For instance, in August 2018, it introduced updates to its Informatica Master Data Management (MDM), Informatica Intelligent Cloud Services (IICS), and Data Privacy & Protection, to enable enterprises with intelligent hybrid data management to transform the customer experience. The company also adopted expansion as a strategy to increase its global reach. For instance, in March 2018, it opened a new office in Dublin (Ireland), to support its growing customer base in the EMEA region. Thus, the company is expected to have a significant opportunity in the data management space in the future.
Oracle is another top player in the master data management market. The company offers Oracle Master Data Management Suite in the market. The company invested a significant amount of its revenue in R&D during the last 3 consecutive years. The company focuses primarily on organic growth through innovations in the market. Oracle has embedded AI across many of its business and technology areas. It generates more than three-fourths of its revenue from cloud and on-premises software segments. The company concentrates on providing extended data management solutions in order to enable its end clients to spread their business models and revenue streams. In the coming years, the company plans to further accelerate its pace of innovation, increase the value of the network, and deliver the right solutions to its customers. The adoption of inorganic growth strategies by the company is reflected by its collaboration with NVIDIA (US) in October 2018.
Related Reports:
Master Data Management Market by Component (Solutions & Services), Data Type, Deployment Type (Cloud & On-Premises), Organization Size (SMEs & Large Enterprises), Vertical (BFSI, Retail, Manufacturing, Healthcare), and Region - Global Forecast to 2023
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