Enterprise Information Management Market Size, Share, Growth, And Industry Analysis By Type (Cloud Computing, Big Data, Others) By Application (Aerospace & Defense, BFSI, IT and Telecommunication, Energy and Power, Government, Healthcare, Hospitality,, Retail, Transportation and Logistics) Regional Forecast to 2028

Updated On: 13 March 2023

Report Overview

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The global Enterprise Information Management Market size was USD 68.40 billion in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with Enterprise Information Management Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 204.45 billion in 2028, exhibiting a CAGR of 16.6% during the forecast period. The sudden decline in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

EIM solutions might come in the form of services, integrated software, or a hybrid of the two. By improving its accessibility, significance, accuracy, timeliness, and security, it increases the value of company data. You may create, manage, and communicate enterprise data using EIM software in a safe, simple-to-use, useful, and accurate way. The working atmosphere and job satisfaction of the employees are also enhanced. You may create end-to-end digital workflows and assure the integrity of all data sources and quality of the data.

Business processes are streamlined by enterprise data management solutions, which also use data to draw the right conclusions. Additionally, it develops a plan for corporate operations that guarantees openness throughout the entire enterprise system. They also speed up various task cycles and smooth the flow of data. This improves enterprise management efficiency and effectiveness. Enterprise data management serves as a master data management platform, providing customer data, including onboarding of new client data to integrate into an organization's internal systems.

COVID-19 Impact: COVID 19 Outbreaks Limits The Market Growth And Expansion

The COVID-19 outbreak is causing disruptions in a wide range of sectors all across the world. The sector is currently dealing with a few difficulties. Enterprise data management software development is currently progressing more slowly. Additionally, the implementation of enterprise data management systems is now fraught with several challenges. International restrictions and lockdowns both delay the rate of deployment. Similar to other industries, this one also experiences changes in demand.

Latest Trends

"Numerous Organizations are Increasingly Adopting Cloud-Based Models to Support the Growth of the Enterprise Data Management Industry"

According to deployment mode, the cloud segment commands a sizeable market share and is projected to expand significantly over the next years. The expansion of this market is being driven by the increasing adoption of cloud-based software in small, middle, and big businesses.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Cloud Computing, Big Data, Others. [mention the leading segment from the link provided]. Note: don’t disclose the % share of the segment.

• By Application Analysis

Based on application, the market can be divided into Aerospace & Defense, BFSI, IT and Telecommunication, Energy and Power, Government, Healthcare, Hospitality, Retail, Transportation and Logistics. [mention dominating segment from the link provided]. Note: don’t disclose the % share of the segment.

Driving Factors

"BFSI Sector's Increasing Use of Data Management Services Will Help the Enterprise Data Management Industry Grow"

The expanding use of business data management services in the banking, financial services, and insurance sectors is the primary driver of the global enterprise data management market. This industry produces a significant amount of data every day, which increases the demand for appropriate data analytics. This increases the likelihood of fraud and data mismanagement, which can result in significant losses for a business. Data management services are growing in popularity in this industry as a result. The market is predicted to benefit over the forecast period from increased expenditures made to improve current technology and provide cutting-edge solutions for effective data management.

"Increase In The Use Of Enterprise Data Management And An Increase In The Demand For Risk Management To Boost Market"

It is anticipated that the main factor propelling the growth of the enterprise data management market would be raising demand from clients operating in various end-use sectors. Enterprise data management is a practice that many firms have embraced to govern and monitor their operations and assure efficiency. Additionally, it is anticipated that throughout the forecast period, a rise in the demand for risk management would fuel the market for enterprise data management. The business manages its risk and maximises database management prospects with the aid of risk management systems, which substantially increases the organization's adoption of enterprise data management and is anticipated to drive up market growth overall throughout the projected period.

Restraining Factors

"According To Predictions, The Main Barrier To The Market For Enterprise Data Management Will Be The Open-Source Platform"

The main barrier to the growth of the enterprise data management market is expected to be the growing accessibility and ease of availability of open-source solutions. The majority of platforms that are readily accessible via open sources are user-friendly. However, backend coders can easily hack these open-source platforms, which could lead to a simple data breach. The main inhibitor to the market for enterprise data management during the forecasting period may be data breaches.

Regional Insights

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"North America to Capture Major Market Share during 2022-2028"

The rapid growth of small, medium, and large businesses in the region is what fuels the North American enterprise data management market. The development of several businesses that produce big amounts of data has forced organizations to make substantial advancements in effective data management to stop data loss. This element has contributed to the expansion of the enterprise data management sector. Large businesses' increasing demand for risk management solutions is expected to fuel regional market expansion over the course of the projected period.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• IBM (U.S.)
• Oracle (U.S.)
• Open Text (Canada)
• EMC (U.S.)
• SAP (Germany)
• OpenText (Canada)
• OTSI (India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.