According to a research report Master data management market size to grow from USD 16.7 billion in 2022 to USD 34.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.7% during the forecast period. Various factors such as increase in the use of data quality tools for data management, and rising need for compliance are expected to drive the adoption of MDM solution and services.
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MDM solutions comprise a set of comprehensive tools that help end users channel and securely maintain their critical master data. These solutions provide users with enhanced features, such as data validation, data collection, data update on a real-time basis, synchronization, data harmonization, cleansing, de-duplication, and data matching. Master data mainly comprises the prominent data types of an organization, such as customer data, product data, supplier data, location data, and asset data. MDM solutions and services provide in-depth insights into the product life cycle, vendor listing, multi-domain customer requirements, and inventory data. These insights provide users with information that helps them improve their customer experiences, accelerate their analytical and transactional operations, and make faster business decisions.
Healthcare vertical to witness highest CAGR during the forecast period
The segmentation of the MDM market by the industrial vertical includes BFSI, government, healthcare, retail, IT and telecom, manufacturing, energy & utilities, and others. The healthcare industry is developing rapidly due to many major technological advancements resulting in enhancing the efficiency of the overall industry. It is a comprehensive sector dealing with diverse clinical, administrative, and financial data. The industry is strongly regulated and requires channelized medical insights, improved data quality, and accurate clinical information which cannot be consolidated without the deployment of advanced data management solutions.
Some major players in the MDM market include IBM (US), Oracle (US), SAP (Germany), SAS (US), TIBCO Software (US), Informatica (US), Talend (US), Cloudera (US), Riversand (US), Broadcom (US), Ataccama (Canada), Stibo Systems (Denmark) and Teradata (US). These players have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the global MDM market.
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Informatica is a leader in enterprise cloud data management and helps speed up data-driven digital transformations. The company offers various technologies, such as the CLAIRE Engine, Informatica Intelligent Data Platform, and Master Data Management. The CLAIRE Engine is an intelligent data platform, while the Informatica Intelligent Data Platform is an AI-driven platform developed on micro-services architecture. Master Data Management collaborates IT users and businesses with a master data foundation. The company offers joint data management solutions with Salesforce, Microsoft, AWS, GCP, Databricks, Snowflake, and Tableau. It caters to various industries, including banking and capital markets, government agencies, healthcare, higher education, insurance, life sciences, manufacturing, retail, and utilities. It has a geographical presence in the Americas, EMEA, and the Asia Pacific with a wide customer base comprising 2-1-1 San Diego, A.W. Hastings, Amdocs, BMW, Cognizant, eBay, ICICI bank, LOréal, Motorola, and PayPal. The Informatica partner ecosystem consists of technology partners, system integrators, distributors, and resellers. In 2018, Informatica won the 2018 CRM Market Award for best data quality software and solutions.
The solutions offered by Informatica in the MDM market are Master Data Management Multidomain MDM, Customer 360, Product 360 (PIM), Supplier 360, Finance 360, and Reference 360.
Talend is one of the leading providers of cognitive data management solutions and platforms to commercial customers across the globe, with primary clientele in the Americas, Europe, Middle East and Africa, and Asia Pacific. The company offers a diverse set of end-to-end services and products in the areas of data management, data integration, MDM, application integration, BI, data migration, data governance, big data, data prep, cloud integration, and data profiling. Talend collaborates with various industry-leading cloud providers, such as AWS, Microsoft Azure, Google Cloud, Snowflake, and others. Its data management platform includes features such as management & monitoring, license & support, design & productivity tools, data quality & governance, connectors, components, data preparation, and advanced data profiling.
Talend was formerly a public company (NASDAQ: TLND), but in March 2021, it announced its acquisition by Thoma Bravo, a leading software investment firm. Thoma Bravo completed the acquisition in September 2021 for USD 2.4 billion, and upon completion of the transaction, Talend turned into a private company. The deal enabled Talend to continue investing in its cloud transition and enhance its data integration offerings for customers.
Cloudera is an enterprise data cloud company. It offers Cloudera Data Platform to its clients. Cloudera Data Platform transforms enterprise edge data into AI capabilities, helping businesses analyze data for getting some actionable data insights. Cloudera’s multi-cloud platform with common security, governance, and data management functions offers products that include MDM at the edge, data engineering, data warehousing, real-time operational analytics, and exploratory data science and ML solutions. The company provides enterprise data cloud architecture for delivering a high-performance cloud environment, to major public cloud infrastructure providers, which are AWS, Microsoft Azure, and Google Cloud Platform. In January 2019, Cloudera and Hortonworks merged to deliver the enterprise data cloud platform to enterprises. The open-source enterprise data cloud platform would provide enterprises with the flexibility of running data on both hybrid and multi-cloud environments. The company offers professional, operational, and ML services to clients to improve business performance. Cloudera’s Enterprise Data Cloud (EDC) would provide a public cloud-like experience everywhere for data anywhere. EDC would enable multiple analytics functions, from real-time streaming at the edge to artificial intelligence, working together on the same data for supporting the most demanding business use cases.
In the MDM market, Cloudera provides Cloudera Data Platform (CDP), which contains Cloudera DataFlow, Cloudera Data Hub, and Data Warehouse.
Cloudera has partnered with Intel to provide a Unified Enterprise Data Management Platform. Intel-based data center runs Cloudera enterprise software to deliver power and speed required for large distributed-computing environments.
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