Global Enterprise Data Management Market 2019-2023 | Data Explosion across Industries to Boost Demand | Technavio

LONDON–(BUSINESS WIRE)–#DataManagementTechnavio
analysts forecast the global enterprise data management (EDM) market to
grow at a CAGR close to 12% during the forecast period, according to
their latest market research report.

Technological development is one of the major trends being witnessed in
the global
enterprise data management market 2019-2023
. The modern
workforce is mobile as traditional workplaces are being replaced with
mobile workplaces. Hence, the need for data collaboration is high.
Enterprise social networks (ESNs) that provide workflow capabilities
across social media are growing in scale and scope. They are expected to
be natively bundled with EDM software solutions. The advent of cloud and
social media collaboration is also expected to increase the demand for
comprehensive and multifunctional EDM software solutions. The
expectations from EDM software solutions are also evolving due to the
use of advanced technologies such as loT and ML. Hence, file share and
synchronization functions are expected to be bundled with EDM software
solutions, which would allow organizations to use such data to achieve
their end-goals. Thus, with such technological advances, the market is
expected to register a positive outlook over the next few years.

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According to Technavio analysts, one of the key factors contributing to
the growth of the global enterprise data management market is the data
explosion across industries:

Global enterprise data management market: Data
explosion across industries

The volume of data generated by industries is increasing at a phenomenal
pace. The global volume of data is approximately 2.50 zettabytes, and
2.10 exabytes of data are generated every day, 100 terabytes of data are
uploaded on Facebook daily. Walmart handles more than one million
transactions per hour and stores the data in its database. Most
organizations capture and store financial and non-financial
transactions. The digitization of organizations increases the complexity
and diversity of data sets. The use of advanced and diverse machines and
devices in business processes also makes the data diverse and complex.
For instance, BFSI companies generate a large volume of data from
digital transactions. The use of advanced technologies such as loT in
industries is also increasing the volume of data. The use of EDM
software solutions improves the processing and analysis of such data.
Therefore, data explosion across industries will drive the growth of the
global EDM market.

According to a senior analyst at Technavio, “The volume of data
generated is increasing owing to the rising adoption of ESN, ML, and loT
by organizations. Using artificial intelligence and ML, smart systems
can learn and accomplish tasks without the need to be programmed for
every task. Advanced devices and sensors will eventually create native
machine data for their own machine-to-machine communication and
collaboration, which will boost the growth of the market.”

Global enterprise data management market:
Segmentation analysis

The global enterprise data management market research report provides
market segmentation by end-user (BFSI, manufacturing, healthcare,
retails, and others), and by region (the Americas, EMEA, and APAC). It
provides an in-depth analysis of the prominent factors influencing the
market, including drivers, opportunities, trends, and industry-specific

The Americas held the largest share of the market in 2018, accounting
for close to 46% share, followed by the EMEA and APAC respectively.
Although APAC held the smallest share of the market, it is expected to
witness the maximum increase in its market share over the forecast

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