A recent business intelligence study by Transparency Market Research (TMR) has notified that the master data management (MDM) BPO market
is primed for a prosperous future. And while the global shares are
moderately consolidated among a small pool of players, regional players
are mushrooming too, which in turn is upholding collaborations and
acquisitions as some of the key strategies for the major players to
maintain their stronghold. Some of the prominent players in the global
MDM BPO market are Accenture, Reltio, Riversand, Capgemini SE,
Informatica Corporation, Tibco Software, Stibo Sysytem, Inc, Spacepage,
Almaviva, Atos SE, Almaviva, and Tata Communication Services, Ltd. In
addition to geographical expansion via partnerships, a number of major
players of this market are also focused on growing organically,
developing new products that can lure a greater chunk of customers.
Global MDM BPO Market to breach US$13.0 bn mark by 2025
As per the projections of the TMR
report, the demand in the global master data management BPO market will
expand at a robust CAGR of 13.4% during the forecast period of 2017 to
2025. The analysts have evaluated that the opportunities in the MDM BPO
market translated into a revenue of US$5,030.9 mn in 2017, and estimated
the valuation to swell up to US$13,717.0 mn by 2025.
Based on component, the report segments
the master data management BPO market into software including on-premise
and cloud and services, which has been further bifurcated into system
integration, consulting, master data management services, and operation
and maintenance.
On the basis of solutions, the market has been
categorized into product data solution, multi-domain MDM solution, and
customer data solution. The report also takes stock of the potential of
demand for MDM BPO that can be expected from the end use industries of
banking, financial services, and insurance (BFSI), automotive,
manufacturing, IT and telecom, retail, and others. Geographically, North
America has been highlighted as the most profitable region, followed by
Europe. However, the region of Asia Pacific is projected to experience
expanding demand at a much stronger CAGR during the forecast period of
the report.
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Need to Efficiently Manage Volumes of Data Driving Demand
Quite a few factors are behind the
impressive growth of the global master data management BPO market, but
none bigger than the indispensable need to have a process of centrally
managing data. With growing adoption of new and technologically
advanced automation methods across various enterprises to improve
efficiency, the need to manage huge data is also continuously
increasing. Consequently, a tool or software is the required that can be
customized with the changes seamlessly. Furthermore, increase in need
for compliance and verification and escalating demands for data quality
and operational excellences is driving the master data management BPO
market. Data breach is an important consideration for organizations due
to the increasing number of cyber-attacks in recent years.
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