Market growth of US 4277.78 Mn is forecasted for the US Enterprise Data Management Market through 2023-2027
US Enterprise Data Management Market for BFSI sector in the US is estimated to grow at a CAGR of 12% between 2022 and 2027. The market is forecast to increase by USD 4,277.78 Mn. Determinants such as the growing demand for data integration and visual analytics, the rising demand for digitalization, and process optimization and operational efficiency are most likely to propel the market advancement.
The market can be classified by deployment (on-premise and cloud) and end-user (commercial banks and savings institutions). Technavio has been monitoring the growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
US Enterprise Data Management Market Analysis
Navigating through the business drivers of the US Enterprise Data Management Market: It has been observed the growing demand for data integration and visual analytics to propel market expansion during the forecast period.
The rising amount of data generated from various business operations has made data analysis difficult, therefore enterprises in various end-user sectors, including the BFSI sector, are adopting data management solutions that offer data integration and data analytics.
Moreover, the use of AI in BFSI allows real-time synthesizing of data for effective decision-making by facilitating real-time analysis, thus enabling enterprises to transform, monitor, and deliver data, understand business processes, and bridge the gap between IT and businesses.
Core Companies of the US Enterprise Data Management Market
When it comes to the core companies of the market Actian Corp., Broadcom Inc., Cloudera Inc., Commvault Systems Inc., GoldenSource, Informatica Inc., International Business Machines Corp., Micro Focus International Plc, Mindtree Ltd., Oracle Corp., QlikTech International AB, Salesforce.com Inc., SAP SE, Talend Inc., Teradata Corp., Veritas Technologies LLC, Winshuttle LLC, and Zaloni Inc. are some of the major market participants which comes with wide range of offerings for the end users across industries. Companies are also introducing AI-powered products to increase the AI capabilities of analytics. Such factors will spur the growth of the market during the forecast period.