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Structured Data Management Software Market size is projected to cross USD 140 Billion by the end of 2035, growing at a CAGR of 8% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of structured data management software was USD 70 Billion. The growth of the market can be attributed to the increasing data generation in healthcare, most of the healthcare data is structured, that can use software for easy access. The amount of healthcare data greatly expanded by the end of 2020, rising from 500 petabytes in 2012 to 25,000 petabytes. Furthermore, rising trends of digital payments is also expected
In addition to these, factors that are believed to fuel the market growth of structured data management software include the rapidly increasing data volumes, the consequent rise in the adoption of digital technologies for the transformation of businesses, along with the development of new technologies for database applications are expected to fuel the progress of this market. Along with this, structured data management software helps to reduce data footprints and storage, maintenance, hardware, and administration costs, which is another factor estimated to benefit the market growth in the coming years. Moreover, the growth of the market can also be attributed to the adoption of structured data management software by BFSI, IT & telecom, manufacturing, healthcare, and retail companies to manage scattered. Additionally, the growing focus of enterprises towards digital transformation and increasing developments in e-commerce sector is projected to offer ample opportunities for market growth in the near future. For instance, as per the United Nations Conference on Trade and Development (UNCTAD), global e-commerce sales increased to USD 26.7 trillion in 2019, up 4% from 2018.
Growth Drivers
Rising Use of Internet of Things (IoT) Devices –With the emergence of IoT connected devices, there is a lot of real-time sensitive data, that can be managed by this software. By 2023, there will be 14.4 billion IoT devices, an 18% growth, and by 2025, there may be 27 billion connected IoT devices. IoT devices are predicted to number 25.4 billion by 2030.
Growing Need for Centralized Data Storage – In a survey of almost 500 professionals, over 63% of respondents stated their business intended to increase its use of customer data in the next year. Moreover, around 57% indicated they'll employ centralized data storage, such as a customer data platform (CDP).
Rising Need to Reduce the Churn Rate – Structured data management software helps to increase the employee retention. The churn rate of energy and utility suppliers is around 11%. Moreover, the churn rate of IT sector is nearly 12%.
Growing Volumes of Data– the software increases the life span of the data irrespective of its time of generation. Over 64 zettabytes of data were produced, collected, transferred, and used globally in 2020. For the ensuing five years, up until 2025, it is predicted that the amount of data generated worldwide would rise to more than 180 zettabytes.
Rising Use of Cloud Storage – the software helps companies to store the on public cloud platforms. Almost 60% of corporate data was stored in the cloud by 2022. This represents a considerable increase from 2015, when only 30% of data was stored in the cloud.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~ USD 70 Billion |
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Forecast Year Market Size (2035) |
~ USD 140 Billion |
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Regional Scope |
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End-user (BFSI, Automobile, Healthcare, Manufacturing, IT & Telecom, Retail & E-commerce)
The global structured data management software market is segmented and analyzed for demand and supply by end-user industry into BFSI, automobile, healthcare, manufacturing, IT & telecom, retail and commerce, and others. Out of the six types of end-user, the BFSI segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing churn rate of the sector. Financial services companies have an average client retention rate of around 81%, translating to a median churn rate of 19% approximately. Besides this, rise in the number of digital payments, that give rise to massive data. From 68% in 2017 and 51% in 2011, 76% of adults worldwide now have an account with a bank, another financial institution, or a mobile money provider as per the statistics of the World Bank. Furthermore, almost 40% of adults in low- and middle-income countries (apart from China) who paid a merchant in-person or online with a card, phone, or the internet
Organization (Small & Medium, Large Enterprises)
The global structured data management software market is also segmented and analyzed for demand and supply by enterprise size into small & medium, and large enterprises. The growth of the segment is attributed to rise in the number of small and medium. In the United Kingdom, there are around 5 million small enterprises that have less than 50 employees in each company. Moreover, there were nearly 31,000 medium enterprises in the region. Small and medium enterprises can leverage the structured data management software, to reduce the overall storage costs and data layouts by curbing the price of hardware upkeep and management.
Our in-depth analysis of the global market includes the following segments:
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By Deployment |
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By Enterprise Size |
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By End User Industry |
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APAC Market Statistics
The Asia Pacific structured data management software market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The market growth in the region expected on the account of increasing spending by BFSI, manufacturing and other end users for improving business processes by implementing digital technologies in the region. For instance, in India, the BFSI industry spent 57 percent of their expenditure on digital services in 2020.
North American Market Forecast
The North American structured data management software market, amongst the market in all the other regions, is projected to hold the significant market share by the end of 2035. The growth of the market can be attributed majorly to the increasing use of cloud storage and centralized data storage. Around 50% of business indicated that centralized data storage is beneficial for this business. Moreover, the most crucial data is kept in the cloud by 48% of businesses in the United States. Furthermore, higher use of the Internet of Things (IoT) in healthcare, banking, government, and other sectors is also expected to boost the market growth in the region.
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Rocket Software announced that it has signed an agreement to acquire ASG Technologies. The acquisition aims at helping the company to boost its expertise in the management of content, structured and unstructured data, and systems.
OneTrust is all set to enhance its OneTrust DataDiscovery platform after signing an acquisition deal with Integris Software. The platform helps enterprises to understand their data across all assets and systems.
Author Credits: Abhishek Verma, Hetal Singh
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