Global Enterprise Data Management Market is expected to Register Revenue of $136.4 Billion at a CAGR of 10.5% by 2026 Despite the Covid-19 Chaos

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The world is facing an unpredicted change and many of the industries are experiencing thought aggravating situation due to the COVID-19 pandemic. The COVID-19 outbreak has positively impacted the global enterprise data management market. Enterprise data management is crucial for large scale business sectors to secure their data assets. It also enables easy business planning and it enhances compliance with improving the record keeping activity. EDM systems are gaining more importance in the large scale manufacturing and industrial sectors. During this coronavirus crisis situation, we are helping our clients in understanding the impact of COVID-19 on the global enterprise data management market. 

Our report includes:

• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact

According to a new report published by Research Dive, the global enterprise data management market registered a revenue of $62.3 billion in 2018 and is predicted to register a revenue of $136.4 billion by 2026, at a CAGR of 10.5% in the forecast time from 2019 to 2026. The global enterprise data management market is segmented on the basis of component, development type, industry vertical, and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market. As per our analysts, increasing preference of EDM in manufacturing and industrial sector is fueling the market growth in the forecast period. However, small business segment face the problem of cost that depends upon the number of users, degree of customization, and application modules.

Services Component Segment has Dominant Market Share

Based on type of component, the global enterprise data management market is fragmented into software and services segment. Among these, services component dominated the market in the year 2018 and is expected to register a revenue of $59.9 billion in 2026 at CAGR of 11.7%. Upsurge in the utilization of EDM in various service services sub-segments such as consulting services, operation & maintenance services, and training & support services is responsible for the dominance.

Cloud based Development Type Will Grow at a Significant Rate throughout the Forecast Years

On the basis of development type, the global enterprise data management market is classified into on-premise and cloud development. The market for cloud-based development type will witness increased rise at a faster rate of 12.6% CAGR and is predicted to register for $57.6 billion till the end of 2026. Cloud based development type offers efficiency to business and it is a cost effective type of data management system when contrasted with on-premise development type. 

Banking, Financial Services & Insurance Industrial Vertical will Reach Newer Heights throughout the Forecast Years

On the basis of industrial vertical, the global enterprise data management market is classified into healthcare & life-science, banking & financial services and Insurance, telecom & information technology, retail & consumer goods, media & entertainment, manufacturing, energy & utilities, transportation & logistics, government  defense, and others. The market for banking, financial services and insurance industrial vertical will witness rise at a faster rate of 11.5% CAGR and is predicted to register for $17.9 billion till the end of 2026. Enterprise data management system in banking, finance service & insurance industry offers benefits such as quality data, easy integration of data, and it offers facility to prepare data without help of coding or IT persons. 

Regional Outlook and Major Market Players

Global enterprise data management market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Among these, North America region has dominated the global market share, and is estimated to reach up to $37.3 billion till 2026 at CAGR of 11.0%. This dominance is attributed due to the rise for risk management solutions and requirement of on-time authentication for large scale business sectors in the APAC region.

The most prominent players in the global enterprise data management market are IBM Corporation, Teradata Corporation, Talend, SAS Institute Inc., Orcale Corporation, Golden Source Corporation, Micro Focus International PLC, Amazon Web Services, SAP SE, Cloudera, and others.