Enterprise Data Management Size, Share, Growth Analysis, By Component (Software and Services), By Deployment Mode (On-Premises and Cloud), By Organization Size (Small & Medium Enterprise (SME) and Large Enterprise), By Industry Vertical (Healthcare & Life Sciences, Banking, Financial Services, & Insurance), By Region - Industry Forecast 2024-2031

Global Enterprise Data Management Market size was valued at USD 93.40 billion in 2022 and is poised to grow from USD 102.28 billion in 2023 to USD 211.39 billion by 2031, growing at a CAGR of 9.5% in the forecast period (2024-2031).

The Enterprise data management market is expected to experience significant growth in the coming years, driven by the increasing adoption of data management applications in organizations. The rise in demand for data management is a result of the need to handle large data sets, perform data integration, conduct data profiling, ensure data quality, and manage metadata effectively. These challenges have prompted organizations to invest in data management solutions to enable efficient sharing, consistency, reliability, and information management for critical decision-making processes. This is anticipated to be a major driver for market growth. However, data privacy concerns are expected to hinder the growth of the market during the projected period. Many businesses rely on open source software for data management, which involves various procedures and algorithms. If data is not adequately safeguarded, hackers can easily access the source code, as most procedures and algorithms are operated through open sources. Ensuring robust data security measures will be crucial to overcome this obstacle, as data breaches can have severe consequences. 

Addressing data privacy concerns will be vital to fostering market growth in the predicted year. Moreover, there is increasing consumer demand for business data management solutions that enable the generation of valuable insights from unstructured or redundant data. These solutions facilitate effective data management across departments within an organization. As organizations place greater emphasis on ensuring timely and accurate information, the demand for enterprise data management solutions is expected to rise. These factors are projected to drive the growth of the global corporate enterprise data management market during the forecast period.

US Enterprise Data Management Market  is poised to grow at a sustainable CAGR for the next forecast year.