July 2022
16 Sep 2024
The global enterprise data management market reached USD 99.40 billion in 2023 and is predicted to touch around USD 311 billion by 2033, expanding at a CAGR of 12.11% during the forecast period. The growing demand and adoption of Internet of Things (IoT) devices and digitalization, on-time delivery of data are driving the market growth effectively.
The enterprise data management systems are platforms designed for cloud computing and analytics solutions. The growing demand for the use of cloud solutions by various business companies as the new advanced technologies help the companies to handle large amount with affordability. Enterprise data management systems provide real-time access to data by helping the businesses to carry out the work efficiently. As more emerging companies are adopting the cloud-based solutions which are expected to grow the market. EDM also offers various functions like data security, data governance, data integration and management which helps businesses in accessing data and improve customer experience.
Increasing demand for the adoption of data management system to drive the market
Enterprise data management system includes both internal and external applications where in the internal applications include finance, HR, business intelligence, others and external applications include partners, suppliers, regulators and shareholders. The use of data management system tools in transportation and logistics helps in enhancing the performance, processing, and visibility.
Additionally, the enterprise data system in used in various applications like in aerospace, government, healthcare, IT and telecom is fueling the market growth. The increasing shift towards the use of data integration plays a significant role during the forecast period. Many companies are also adopting various data integration tools that boost the market growth and transform the digital world. The rising shift by many companies to use the EDM systems and advancements made by manufacturing companies to develop progressive ways in managing data.
Moreover, the rising demand for the data security drives the attention for the adoption advanced enterprise data management systems. With the rising incidences of cyber-attacks many companies are focusing on the use of data protection to protect the sensitive information.
Heavy system capital installation procedures impact the market growth
The demand from small-medium enterprises offers better growth opportunity as it’s difficult to use the tools effectively due to less availability of resources. Additionally, many small businesses use the old systems that make them difficult to adopt for the new advanced technologies.
Enterprise software automates all business operations and manages large amounts of data that improves the processes. It also offers other features with great advantage like Contract management systems. However, there is still lack of awareness about the use of these advanced technologies that could limit the growth of market. Also, the high implementation cost hinders the EDM market growth as it requires heavy capital for infrastructure, software and other resources.
Recent Developments in Enterprise data management systems by Cribl
| Company Name | Cribl. io |
| Headquarter | U.S. |
| Recent Development | Cribl. Io a data engine for IT and security unveiled Cribl Copilot which is a AI-powdered tool for data management. This tools is used to streamline the efficiency of telemetry data management that bridges the gap between IT and security. |
Recent Development in Enterprise data management systems by 1touch.io
| Company Name | 1touch.io |
| Headquarter | Headquarter |
| Recent Development | 1touch.io in partnership with Wipro Ltd. Announced to deliver data protection solutions and insights worldwide. It provides advanced, scalable data that ensures the data is not only precisely identified and categorized but also protected and utilized in compliance. |
By region, North America dominated the market with the largest revenue share of XX% in 2023. The well-established technological tools help the market to grow in the region. The region has advanced IT infrastructure and high investments in the IT sector that gives rise for the demand of use of data management tools. Moreover, the rising demand for data driven tools creates a market for the adoption of the enterprise data management solutions.
Asia-Pacific is expected to grow the fastest in the fields of enterprise data management systems in the coming years. Many countries like India and China have emerging industrialization and high investments in digital economy which give rise to adoption of the EDM systems. Also, the advancements made in the fields of could service and data analytics also contribute for the market growth. Moreover, the growing government initiatives and startups also demand for the use data management.
Europe is expected to grow at a moderate level as various European countries like Germany, U.K., and France are implementing and adopting the data management tools to find the insights and analysis and plan the future strategies. For instance, the European Strategy for data aims at creating a single market for data that will lead to the creation of Common European Data Spaces which ensures that more data becomes available for the use in the economy and society.
The growing demand for the use of data analytics by the major key players creates a potential and drives the enterprise data management system market. Many companies collect large amount of data and analyze and generate the insights that increases the demand for the use of the advanced enterprise data management systems. This helps in identifying the patterns and improving the functions that offers better consumer experience. Also, the increased demand for the large amount of data fuels the growth of the EDM market.
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 111.44 Billion |
| Market Revenue by 2033 | USD 311.77 Billion |
| CAGR | 12.11% |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | North America |
| Base Year | 2023 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Market Segmentation
By Component
By Industry Vertical
By Deployment Mode
By Organization Size
Get this report to explore global market size, share, CAGR and trends, featuring detailed segmental analysis and an insightful competitive landscape overview@ https://www.precedenceresearch.com/checkout/4937
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 804 441 9344
July 2022
May 2024
February 2024
February 2024