Early impacts of COVID-19 on Enterprise Data Management Market

Early impacts of COVID-19 on Enterprise Data Management Market

“IBM Corporation (US), SAS Institute Inc. (US), Teradata Corporation (US), Oracle Corporation (US), SAP SE (Germany), Talend (US), Symantec (US), Cloudera, Inc. (US), Ataccama (Canada), Informatica (US), Mindtree Limited (India), Qlik (US), EnterWorks, Inc. (US), MapR (US), GoldenSource Corporation (US), Amazon Web Services, Inc. (US), MuleSoft, LLC. (US)…”
Enterprise Data Management Market by Component (Software (Data Security, Data Integration, Data Migration, and Data Quality) and Services) Deployment Mode, Organization Size, Industry Vertical, and Region – Global Forecast to 2025

The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Enterprise Data Management Market. We are working diligently to help companies take rapid decisions by studying:

  • The impact of COVID-19 on the Enterprise Data Management Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
  • The rapid shifts in the strategies of the Top 50 companies in the Enterprise Data Management Market
  • The shifting short-term priorities of the top 50 companies’ clients and their client’s clients

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The global Enterprise Data Management Market is expected to grow from USD 77.9 billion in 2020 to USD 122.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 9.5% during the forecast period. Major growth factors for the market include growing need to ensure regulatory compliance that is driven by the new regulations, such as General Data Protection Regulation (GDPR), and need to improve the quality of data to achieve the data-driven decision making.

Data security software to hold the largest market size during the forecast period

Data security is a key concern for enterprises as the threat to enterprise data can lead to loss of integrity, availability, and confidentiality of data. It also ensures end-to-end security of data and protection of data from data intrusion by an unauthorized entity. Data quality software to grow at the highest CAGR during the forecast period.  To maintain data quality and to ensure business continuity, it is important to develop a data quality framework, which is driving the growth of data quality in enterprise data management market.

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Banking, Financial Services and Insurance to hold the largest market size during the forecast period

The Banking, Financial Services and Insurance (BFSI) industry vertical has been a competitive industry vertical that focuses accurate data for making efficient business decisions. Using enterprise data management solutions in the banking industry vertical is important to handle the data efficiently and ensure the consistency of data. It has become a necessity to keep up with the competition. With the help of enterprise data management, the BFSI sector can fulfil regulatory imperatives, and deploy predictive models for risk and customer analytics.

The enterprise data management market comprises leading solution providers, such as include IBM Corporation (US), SAS Institute Inc. (US), Teradata Corporation (US),  Oracle Corporation (US), SAP SE (Germany), Talend (US), Symantec (US), Cloudera, Inc. (US), Ataccama (Canada), Informatica (US), Mindtree Limited (India), Qlik (US), EnterWorks, Inc. (US), MapR (US), GoldenSource Corporation (US), Amazon Web Services, Inc. (US), MuleSoft, LLC. (US), Micro Focus International plc (UK), Zaloni, Inc. (US), and Actian (US). The study includes an in-depth competitive analysis of the key players in the enterprise data management market with their company profiles, recent developments, and key market strategies. The players in the market have embraced various strategies to expand presence and their market shares. New product launches and enhancements; and partnerships, acquisitions, and collaborations, have been the most adopted strategies by the major players from 2018 to 2020, which helped them innovate on their offerings and broaden their customer base.

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IBM Corporation (US) is among one of the leaders in the enterprise data management market. It adopts various approaches for growth strategies and continues to expand its operations through constant product launches, business expansions in various regions to expand its cloud offerings, technology acquisitions, collaborations, and partnerships. For instance, in June 2019, IBM Corporation partnered with VMware to accelerate innovation and adoption of hybrid cloud across organizations. This partnership enabled enterprises to securely move their workloads of VMware to cloud.

SAS Institute (US) is another established player in the enterprise data management market. The company offers SAS Data Management solution that is built on the SAS platform and enables easy collaboration between the teams in enterprises. The company has adopted various organic and inorganic strategies to strengthen its product portfolio. For instance, in October 2019, SAS Institute partnered with Red Hat to combine analytics of SAS with Red Hat OpenShift across the hybrid cloud that helped speed up the adoption of analytics by customers across the hybrid cloud. It also expanded its cloud offerings in Singapore to accelerate the cloud adoption in APAC region.

 

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