Master Data Management Market - Forecast 2020 - 2025
Master Data Management Market Overview: Master Data Management (MDM) market size is forecast to reach $26.4 billion by 2025, after growing at a CAGR of 18% during 2020-2025. Master data management deals with the information sources related to product, location, supplier, customer, and asset that drive a business. The increasing usage of MDM eliminates redundancy and costly inefficiencies by unreadable stored data. Additionally, it satisfies the need for businesses to increase the consistency and quality of their key data assets which include product data, customer data, location data, and asset data. Thus, the MDM platform plays a vital role in supporting an enterprise data strategy, as it provides accurate and timely information along with up to date data definitions. For this, today’s global enterprises and organizations are turning to MDM to experience improved decision making which solve numerous data challenges, thereby contributing to the expansion of the cloud-based software m...