Master Data Management Market - Growth, Strategy Analysis, And Forecast 2032

Master Data Management Market Definition

Master data management (MDM) refers to a practice that collects and creates a single record from each person, place, and thing in an organization from internal and external data sources and apps in order to improve business processes. It is used to improve the consistency and quality of data assets to carry out knowledge business decisions.

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Master Data Management Market Characteristics:

The global master data management market is expected to grow from $13.01 billion in 2022 to $15.13 billion in 2023 at a compound annual growth rate (CAGR) of 16.3%. The master data management market is expected to grow to $27.42 billion in 2027 at a CAGR of 16%.

Key Market Drivers And Trends

Drivers Trends

The increase in the use of data quality tools for data management is expected to propel the growth of the master data management (MDM) market

Advancing technology resulted in more Agile and Cloud-based MDM is a key trend gaining popularity in the master data management (MDM) market.

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Master Data Management Global Market Segments:

The report covers the master data management market’s segmentsBy Deployment Mode

Solution, Services Cloud, On-premises

Small and Medium Enterprises(SMEs), Large Enterprises

Supplier Data, Product Data, Customer data

Banking, Financial Services and Insurance(BFSI), Government, Retail, IT and Telecom

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