Master Data Management Market Scaling with Demand for Operational Efficiency
The global master data management (MDM) market is projected to reach USD 60.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 17.4% from 2024 to 2030, according to a report by Grand View Research, Inc. This growth is primarily driven by the increasing globalization of businesses and the demand for standardized data management across multiple geographies and business units. MDM solutions offer a centralized framework that ensures consistency and accuracy of master data across various regions, helping organizations enhance global operations, foster cross-functional collaboration, and enable informed, data-driven decisions.
Additionally, the rising implementation of omnichannel strategies for marketing and customer engagement is boosting the demand for MDM solutions capable of integrating and synchronizing data across diverse channels and touchpoints. These solutions help organizations consolidate customer data from multiple sources, ensuring consistent and personalized experiences. With MDM tools, businesses can obtain a comprehensive view of customer behaviors and preferences, enabling more effective targeting, customized recommendations, and responsive support—factors that contribute significantly to improved customer satisfaction and loyalty.
The rapid expansion of Internet of Things (IoT) technologies is also fueling the adoption of MDM platforms. As IoT devices generate vast volumes of data, MDM solutions are increasingly needed to manage, consolidate, and interpret this data effectively. A unified view of device-generated data allows businesses to optimize asset performance, drive product innovation, and enhance service delivery through actionable insights.
The COVID-19 pandemic heightened concerns over data security and privacy, adding complexity to MDM implementation. As companies adopted more digital tools and collaboration platforms, vulnerabilities to cyber threats increased. While organizations were focused on immediate operational continuity, long-term cybersecurity strategies often lagged, exposing data to greater risks.
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Master Data Management Market Highlights
- Component: The market is segmented into solutions and services. In 2023, the solutions segment led with a 59.1% revenue share, driven by the growing complexity of data sources, rising demand for data-informed strategies, compliance needs, and the surge in cloud and hybrid IT deployments.
- Deployment: The on-premise segment is anticipated to experience substantial growth over the forecast period, due to factors such as the need for greater customization, concerns about data confidentiality, latency-sensitive applications, and regulatory mandates on data localization.
- End-User: The IT & telecom sector accounted for the largest revenue share in 2023. The convergence of IT and telecom services, along with technological advancements like 5G, IoT, and edge computing, are creating strong demand for adaptable and scalable MDM solutions.
- Regional Insights: North America held a dominant market share of 38.9% in 2023 and is expected to maintain its leadership position. The growing use of cloud-based MDM platforms in the region is a key contributor to this trend.
- Notable Development: In March 2022, Informatica launched a cloud-native Intelligent Multi-domain Master Data Management solution. Designed to provide accurate insights into master data across multiple domains, the platform empowers retailers to manage customer, product, supplier, and location data cohesively—supporting personalized customer experiences and operational efficiency.
Key Companies in the Master Data Management Market
- IBM Corporation
- Oracle
- SAP
- TIBCO Software Inc.
- Semarchy
- Informatica Inc.
- Reltio
- SAS Institute Inc.
- Stibo Systems
- Syndigo LLC
- Pimcore
- Profisee
- Ataccama
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