Global Enterprise Data Management Market Highlights Over 2022 - 2031
The global enterprise data management market is estimated to garner robust revenue by growing at a CAGR ~15% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to factors, such as, growing digitalization in every sector and increasing regulations for data protection. Growing cybercrimes are estimated to propel the market growth. For instance, approximately 3,500 data breaches were reported in early 2019, exposing around 4 billion records worldwide. Additionally, the average duration to figure out the data breach within an enterprise is projected to be about 200 days. A single data breach incident can cost an enterprise millions of dollars. Hence, enterprise data management system has become a vital part of a business organization. As of 2021, the global average cost of a data breach was anticipated to be about USD 4 million. Furthermore, various alternatives to deployment methods, excellent control over quality, and other advantages of data management can be major growth drivers for the market during the forecast period. Moreover, the growing demand to manage data traffic is estimated to hike the growth of the market. In 2021, the global cloud data IP traffic is anticipated to be more than 15,000 exabytes. All these factors are projected to influence the growth of the market positively during the forecast period.
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The market is segmented by type into cloud and on-premise, out of which, the on-premise segment is anticipated to hold the notable share in the global enterprise data management market during the forecast period on account of 24-hour availability and low monthly cost. Additionally, the on-premise infrastructure is less prone to data breaches since the data is locally stored on the enterprise’s premise.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in the ICT sector has significantly contributed to GDP growth, labour productivity, and R&D spending among other transformations of economies in different nations around the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Enterprise Data Management Market Regional Synopsis
Regionally, the global enterprise data management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is estimated to witness noteworthy growth over the forecast period on the back of rising incidents of data breach threats and the presence of major key players in the region. For instance, about 1,000 data breaches were noticed in 2020, exposing almost 150 million records solely in the United States. Furthermore, increasing investment in 5G technology in the region is also anticipated to be one of the major growth drivers of the market over the forecast period. As of 2020, approximately USD 250 billion had been invested in the development of 5G technology in the United States. Such factors are anticipated to propel the growth of the market over the forecast period in the region.
Additionally, the Asia Pacific region is projected to provide lucrative opportunity for the growth of the market over the region. China is considered the leading country in 5G technology. As of 2021, more than 1 million 5G base stations have been installed in China. Furthermore, growing utilization and development of machine learning are also anticipated to foster the growth of the market throughout the forecast period.
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The global enterprise data management market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global enterprise data management market includes the following segments:
By Enterprise Size
- Small Enterprises
- Medium Enterprises
- Large Enterprises
By End-User Industry
- Media & Entertainment
- Increasing Digitalization in Every Sector
- Increasing Data Protection Regulations
- Availability of Multiple Deployment Method Options
- Costly System Installation Procedure
Top Featured Companies Dominating the Market
- Oracle Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- International Business Machines Corporation
- Teradata Corporation
- SAS Institute Inc.
- SAP SE
- Delta Electronics, Inc.
- CommScope Inc.
- FNT GmbH
- Eaton Corporation plc
- Nlyte Software Limited