The Evolution of the Enterprise Data Management Industry: Five Years Out
Enterprise Data Management industry is predicted to rise with a CAGR of 9.3% over the forecast period by generating a revenue of $126.9 billion by 2026.
Enterprise Data Management program collates all the data related with making major decisions and building a strategy for the organization. Enterprise Data Management helps to identify the compliance, operating efficiencies, risksand build client relationship, which results in data quality, control on the data and information storage.
Rise in the use of data management application in many of the organization is predicted to drive the Enterprise Data Management industry over the forecast period. The demand for data management has increased due to handling large data sets by data integration, data profiling, checking the quality of data, metadata management and many other data related problems. Moreover, enterprise data management helps in sharing, consistency, reliability and governing information to the organization for taking major decisions, and this is predicted to be the major driving factor for the industry.
Data privacy is predicted to hamper the growth of the industry during the forecast period. Most of the companies handle data with the help of open source applications which includes various processes and algorithms. Most of the processes and algorithms are run through open sources which enable hackers to get the source code without difficulty if the data are not highly protected. These are the biggest restraints for the growth of the industry in the forecast period.
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The major players in Enterprise Data Management industry are Amazon Web Services, Inc., TierPoint, LLC., VMware Inc.,Microsoft, HP Development Company, L.P.,Cloudera, Inc.,SAS Institute Inc.,SAP SE,IBM Corporation, andNTT Communications Corporation among others.