How big is the Master Data Management Market?

The Master Data Management Market size is expected to reach USD 15.33 billion in 2024 and grow at a CAGR of 18.93% to reach USD 36.48 billion by 2029. Read More

What is the current Master Data Management Market size?

In 2024, the Master Data Management Market size is expected to reach USD 15.33 billion. Read More

Who are the key players in Master Data Management Market?

IBM, Oracle, Informatica Inc., SAP SE and Ataccama are the major companies operating in the Master Data Management Market. Read More

Which is the fastest growing region in Master Data Management Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Master Data Management Market?

In 2024, the North America accounts for the largest market share in Master Data Management Market. Read More

What years does this Master Data Management Market cover, and what was the market size in 2023?

In 2023, the Master Data Management Market size was estimated at USD 12.43 billion. The report covers the Master Data Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Master Data Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the biggest challenges faced by companies when implementing Master Data Management (MDM)?

The biggest challenges faced by companies when implementing Master Data Management (MDM) are a) Data quality issues b) System integration complexities c) User adoption challenges Read More

Master Data Management Market Trends

Statistics for the 2023 & 2024 Master Data Management market trends, created by Mordor Intelligence™ Industry Reports. Master Data Management trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Master Data Management Industry

Cloud MDM Segment to Hold a Significant Share

Analyzing new technologies and approaches for acquiring, storing, and utilizing master data is becoming vital as master data management (MDM) becomes essential for fostering company success. The next generation of MDM systems is driven by AI/ML, cloud, federated architectures, inter-enterprise sharing, global deployment, data platform solutions, and other contemporary MDM features.
Enterprise sectors have used MDM technologies on the cloud for speed and flexibility since vendors and customers are dispersed worldwide and communicate virtually. Businesses will customize their MDM cloud services, while those onshore will result in a stronger focus on master data integration and data quality to and from cloud sources.
As more apps and data migrate to the cloud, data professionals can manage more complicated amounts of data across several clouds, inside one cloud, and on-premises sources. To enable these various topologies, multi-cloud and inter-cloud data management is essential.
Cloud-based services are becoming more widely used for MDM (as well as other essential corporate applications). A cloud-native solution, such as cloud MDM, will probably offer advantages over on-premise solutions concerning integration with cloud-sourced data and apps as the center of gravity for data continues to move beyond the firewall.

Master Data Management Market: Types of Cloud Computing Services Used, in % of Enterprises Using Cloud, By Service Model, European Union, 2021

Understand The Key Trends Shaping This Market

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North America to Hold Major Market Share

The master data management industry is estimated to have the largest market share in North America. The expanding use of technology in the area is one of the main reasons promoting the growth of the MDM market in North America. The expansion of MDM players across regions, such as IBM, Oracle, and Informatica Inc., is anticipated to drive market expansion further.
On the other hand, the growth of R&D spending by significant regional economies is helping the development of new technologies in the North American master data management market.
For instance, in June 2022, Ataccama, a unified data management and governance solutions provider, secured USD 150 million in a growth capital investment round, money that will be used to finance the company's efforts to develop new products and expand its market presence.
Organizations working in specific industries, including banking and healthcare, are required to adopt MDM because of the strict data protection and security rules in the United States. The increasing desire to enhance operational effectiveness and lessen data redundancy also drives the market.