Enterprise information management solutions are in great demand across industry verticals, regions, and enterprise types largely due to the 21st century being considered the ‘Age of Information’. Effective information management is absolutely critical and Persistence Market Research states that the global enterprise information management solutions market could be worth approx. US$ 70 billion by 2025. Pertinent market insights are presented in a new report titled ‘Enterprise Information Management Solution Market: Global Industry Analysis (2012–2016) and Forecast (2017–2025)’.
Solutions – Master Data Management and Data Quality Critical Solutions
Both the master data management and data quality solutions are projected to witness an exponential CAGR in excess of 20% and stakeholders in the enterprise information management solutions market are advised to take this into account. The data quality segment is anticipated to be slightly larger than master data management at the end of the eight-year study with a value of over US$ 10.3 billion. Master data management is has sizeable demand in the MEA region and is worth US$ 140 million there in 2017 alone.
Industry – Banking and Financial Sector Data Has to be Effectively Managed
The banking and financial sector is estimated to be the most attractive in enterprise information management solution market over the duration of the forecast. Banks and financial institutions process a vast amount of confidential customer data that needs to be managed, stored securely, and integrated with other sources of data. The banking and financial sector may well register a Y-o-Y growth of 20.6% from 2017 to 2018.
Enterprise Type – Large Enterprise Lose Out to Small and Medium Enterprises
Large enterprise has almost 3/5th market share in the enterprise information management solution market by enterprise type but is on track to lose a significant 470 BPS over the forecast period and small and medium enterprises are the primary beneficiary of this.
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Deployment – Mobile First World to Benefit Cloud Deployment
A mobile first world is predicted to spur the adoption of cloud-based solutions in the enterprise information management solution market. The on-premise deployment type has a lead in the enterprise information management solution market in 2017 but is likely to lose this position very soon. As Internet connectivity improves globally and smartphones become commonplace, there could be a desire to access information anywhere, anytime and this applies to enterprise data as well. The market attractiveness index of cloud deployment is 5.0 in enterprise information management solution market.
Region – Huge Potential in Latin America and MEA for Enterprise Information Management Solutions
North America has the maximum share in the enterprise information management solutions market in 2017 and APEJ is poised to inch past it by the end of the forecast period. Nonetheless, companies are recommended to target Latin America and MEA as these two dynamic regions are expected to grow by a massive 620 and 220 BPS points respectively. Master data management has immense scope in MEA and companies there are rapidly adopting it as it enables directly interacting with business intelligence providers and helps improve operational efficiency.
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Competitive Dashboard in the Enterprise Information Management Solution Market
Prominent companies actively involved in the enterprise information management solution market include SAP SE, Techwave, Alfresco Software, OpenText Corp., Oracle Corporation, International Business Machines Corporation, EMC Corporation, Hewlett Packard, Adobe, Microsoft, Deltek, and Enterprise Information Management.
Enterprise information management solution vendors would do well to target the MEA and APAC regions as there is substantial demand for innovative solutions such as data integration, master data management, data governance, and data quality. Small and medium enterprises are showing the way with their eager adoption of enterprise information management solutions and the shift to cloud deployment should gather momentum going forward.