The Data Management market expands
The Covid-19 pandemic acted as a driver of demand for enterprise data management services around the world and the market grew rapidly.
According to a report by Grand View Research, the global market size reached a value of USD 82.25 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 14% from 2022 to 2030.
The segment that accounted for most of the sector’s revenue was software, at more than 76.4% in the past year, with small and medium-sized businesses expected to drive most of the growth.
Regarding the services sector, the report indicates that until 2030 it will expand by 15.7%. The reason is that companies hope to reduce operating expenses, improve operational efficiency and focus on their core competencies.
Another dynamic segment was professional services, with a 68.6% market share in 2021 whose growth can be attributed to the adoption of big data and analytics and the growing demand for enhanced mobility among service consultants. The managed services segment, meanwhile, achieved a market share of more than 30% in 2021.
Regarding the type of service, Grand View Research finds that Facilities had a revenue share of more than 45% in 2021. They point out that many organizations are changing from manual systems to automated systems to carry out various operations.
In the analysis by region, the study shows that North America is the leader in the use of Data Management with a participation in revenue of 37.2% in 2021. There are the headquarters of several major companies, such as Amazon Web Service, Oracle and IBM, among others, and they place a strong emphasis on digital transformation.
The Asia Pacific region, meanwhile, is estimated to grow 16.5% during the period studied due to the increase in industry verticals and the adoption of big data.
Finally, major market players such as International Business Corporation, Oracle Corporation, SAP SE, Cloudera Inc., Amazon Web Services (AWS), and Broadcom (Symantec) are marked to make heavy investments in R&D to support growth and improve their internal business operations, including mergers and acquisitions.
Growth in 2022, according to a report by Indalo Innovation, will come from some trends that today set the course for the market.
HTAP Big data plus database: The concept of Big Data and databases come together. Applications with a single system can perform data generation, processing, storage, and consumption, resulting in a better user experience.
At this point, hybrid transaction processing or analysis, also known as HTAP, emerges, which improves performance and is capable of synchronizing millions of transactions daily, improving the user experience, as already mentioned.
A more distributed cloud-native system: More and more companies are adopting cloud-based infrastructures and moving their business process applications along with their critical data. Organizations require cloud services and solutions that manage their native architecture, enabling business processes to be more dynamic.
Intelligent and autonomous database platforms: Autonomous database platforms provide self-driving capabilities to databases running on a platform, thus allowing databases to independently perceive, make decisions and perform optimizations in order to generate a continuous service.
Multi-model: Data processing platforms that support multiple data models and define the parameters of how information is organized in a database. The benefit of incorporating multiple models into a single database is the ability for IT teams to meet multiple application requirements without the need to implement different database systems.
Built-in security: In any application, interface, product and business, security is a necessary and fundamental requirement. In the digitalization that is being experienced, it is essential to maintain high levels of trust and transparency, where the data is secured.
In this context of global growth of data management solutions, Conciliac EDM stands out as a unique platform for comprehensive multitasking and multi-industry data management. Hence its international expansion that already covers 22 countries on 5 continents.
If you want to be part of data management automation, schedule a demo of Conciliac EDM.