Global Master Data Management (MDM) Market: Ability to Save Operation Costs Leads to
Soaring Uptake
A recently added report by Persistence Market Research (PMI), titled, “Global Market Study on
Master Data Management: Public Cloud Deployment of MDM Solutions to Gain Traction during
2017–2022,” throws light on important aspects of the market. It discusses in-depth the different
growth drivers and restraints molding the growth path of the market, its size, and prospects going
forward. It unravels the competitive dynamics in the market by leveraging popular analytical tools.
The report uncovers that the global master data management market will likely expand at a robust
pace in the next couple of years to surpass a value of US$8.6 bn by 2022-end.
Master data management (MDM) is often leveraged by an organization to build a single master
reference source for all crucial business data, thereby bringing down the chances of errors and
redundancy in business processes. MDM solutions entail wide-ranging data cleansing,
transformation, and integration practices. As data sources are added to the system, MDM initiates
processes to identify, collect, transform, and repair data.
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Master data management (MDM) has myriad benefits. For starters, it is a source of accurate and up-
to-date data. It eliminates supply chain inefficiencies and helps to save operation costs by thwarting
redundancies resulting from various, conflicting sources of information. For large organizations that
have multiple sources of information, the associated costs can be steep. MDM can go a long way in
synchronizing business information for them and enabling them to navigate through unchartered
markets in future. Both dominant multinationals as well as smaller regional players are expected to
bank upon master data management to lessen database-related issues.
Being a comprehensive process of connecting all important data to one file, master data
management (MDM) allows an organization to access a common point of reference. This also
facilitates streamlining of data sharing operations for various departments and corporate personnel
in companies. Master data management, at its core, is a mix of technologies and applications for
sorting, synchronizing, and incorporating all corporate data recorded via different business entities
such as customers, suppliers, and manufacturers.
Depending upon the mode of deployment, the public-level data disposal through cloud networking
is fast gaining traction in the global market for master data management. Currently public cloud
deployment accounts for almost three-fourth of global market for master data management. Uptake
of MDM solutions via on-premise deployment is expected to come down substantially going
forward.
The end use vertical of banking and finance is projected to be at the forefront of driving demand in
the global market for master data management (MDM) in the foreseeable future. The segment is
predicted to rake in a revenue to the tune of US$2 bn by the end of 2022. During this period, the
uptake of software on master data management is likely to be substantially more than that of MDS
services. In fact, sales of MDM software contribute over half the revenue in the MDM market in the
near future.
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Some of the prominent names operating in the global market for master data management (MDM)