Insurance Technology Industry News

TMCNet:  Master Data Management Market Worth $22.0 Billion by 2023 - Exclusive Report by MarketsandMarkets™

[February 11, 2019]

Master Data Management Market Worth $22.0 Billion by 2023 - Exclusive Report by MarketsandMarkets™

CHICAGO, Feb. 11, 2019 /PRNewswire/ -- According to a new market research report "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", published by MarketsandMarkets™, the Master Data Management Market size is projected to grow from USD 9.5 billion in 2018 to USD 22.0 billion by 2023, at a CAGR of 18.3% from 2018 to 2023.

MarketsandMarkets_Logo

Don't miss out on business opportunities in Master Data Management Market.

Speak to Our Analyst and gain crucial industry insights that will help your business grow:

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=267174702

The major growth drivers for the market include the increasing use of data quality tools for data management and the rising need for compliance.

Browse in-depth TOC on "Master Data Management Market"

45 – Tables  
33 – Figures  
116 – Pages  

Based on deployment type, the on-premises segment is estimated to lead the market in 2018

On-premises deployment of master data management offers enterprises a total control on the security of enterprise sensitive data, such as customer details, product data, enterprise asset details, and supplier data. This data is secured, as it exists on dedicated servers that are separated both physically and virtually from any other business data of the enterprise. The on-premises deployment model allows enterprises to install highly customized, secured, and complex master data management solutions, which cater to the specific needs of enterprises, thereby driving the growth of the on-premises deployment segment.

View more detailed TOC:

https://www.marketsandmarkets.com/Market-Reports/master-data-management-market-267174702.html

Based on vertical, the BFSI segment is expected to hold the largest market share during the forecast period

The Banking, Financial Services, and Insurance (BFSI) sector generates a massive amount of financial data from transactions, which comprise sensitive financial and transactional data and information in detail about customers. The financial sector also accommodates data from other financial institutions and attends to diverse data scattered across different financial systems. To prevent this data from being duplicated or lost and to assist in efficient management, financial institutions, such as banks and insurance companies adopt master data management solutions. Master data management helps banks improve customer service and manage business risks. The BFSI sector uses master data management solutions to sustain data governance, centralize data models, operationalize marketing insights, enhance customer-centric applications, and competently enhance preference and privacy management.

North America is expected to hold the largest market share during the forecast period

The North American region has sustainable and well-established economies, which empower it to invest significantly in R&D activities, thereby contributing to the development of new technologies in master data management. The presence of the majority of key players is expected to be the major factor driving the growth of the market in this region. Key players such as IBM (US), Oracle (US), SAS Institute (US), Teradata (US), Informatica (US), Talend (US), TIBCO Software (US), and Riversand (US), along with several start-ups in the region are offering enhanced master data management solutions & services to cater the needs of customers.

Inquire Before Buying:

https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=267174702

Market Players

The major vendors covered in the Master Data Management Market 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).

Browse Adjacent Markets: Analytics Market Research Reports & Consulting

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/master-data-management-market.asp 
Visit Our Website: https://www.marketsandmarkets.com 

 


[ Back To Insurance Technology's Homepage ]