US Enterprise data management market for BFSI sector 2023-2027: A Descriptive Analysis of Parent Market, Five Forces Model, Market Dynamics, & Segmentation - Technavio
NEW YORK, Dec. 3, 2022 /PRNewswire/ -- According to Technavio, the US enterprise data management market for BFSI sector is forecast to grow by USD 4277.78 million at a CAGR of 12% between 2022 to 2027. The report provides a comprehensive analysis on growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the market.
US enterprise data management market for BFSI sector - Parent Market Analysis
Technavio categorizes the enterprise data management market for BFSI sector in US as a part of the systems software market, which covers companies developing and producing application and system software. It also includes companies offering database management software. Technavio calculates the global systems software market size based on combined revenue generated by companies engaged in the provision of all types of IT software, including cloud-based software.
US enterprise data management market for BFSI sector - Five Forces
The enterprise data management market for BFSI sector in US is fragmented, and the five forces analysis covers?
Bargaining Power of Buyers
Threat of New Entrants
Threat of Rivalry
Bargaining Power of Suppliers
Threat of Substitutes
Interpretation of porter five model helps to strategize the business, for entire details - buy report!
US enterprise data management market for BFSI sector ? Customer Landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on the penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
US enterprise data management market for BFSI sector - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on deployment and ownership.
The on-premise segment will grow at the highest rate during the forecast period. The segment is driven by the increased adoption of on-premise enterprise data management solutions by BFSI companies in the US. This is because these companies deal with critical data, so they are increasingly relying on the on-premises model, as it is more secure due to end-to-end quality control and no third-party interference.
US enterprise data management market for BFSI sector? Market Dynamics
Key factor driving market growth
The growing demand for data integration and visual analytics is the major growth driver in the market.
The exponential rise in data volume has increased the need for analyzing, monitoring, transforming, and interpreting data. Hence, enterprises across end-user sectors, including the BFSI sector, are adopting data management solutions that offer data integration and data analytics.
Enterprise data management solutions allow real-time synthesizing of data for effective decision-making by facilitating real-time analysis. This enables enterprises to transform, monitor, and deliver data, understand business processes, and bridge the gap between IT and businesses.
These solutions also help companies to integrate business processes and technical data from different sources and convert that data into meaningful business insights. Many such benefits are increasing the adoption of enterprise data management solutions among end-users, which is driving the growth of the market.
Recent trends influencing the market
Technological developments are the key trends shaping the market.
Manufacturing, telecommunications, infrastructure development, BFSI, and retail industries are growing at a rapid pace in the US. Many companies operating in these industries are exhibiting high demand for technologies and solutions to analyze the increasing volume of data generated.
To cater to the rising demand from end-users, vendors are focusing on offering specific products based on the needs of such industries. For instance, Magnitude Software, a Texas-based company, offers products and solutions to simplify the management of data to improve the productivity of companies. BFSI organizations such as VISA, Scotiabank, HSBC, and GMO have deployed the company's master data management (MDM) and dynamic information warehouse (DIW) data management solutions to reduce costs and ensure adherence to regulations.
This trend is expected to have a positive impact on the growth of the market during the forecast period.
Major challenges hindering the market growth
The high price of enterprise data management software is a major challenge in the market.
Enterprise data management solutions are expensive due to the high costs associated with development and testing.
The high cost of these solutions restricts organizations from purchasing them. Moreover, enterprises do not require all the features provided in enterprise data management solutions.
Hence, some organizations delay their purchase decisions, which limits the growth of the market in focus.
What are the key data covered in this enterprise data management market for BFSI sector report?
CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will drive the growth of the enterprise data management market for BFSI sector between 2023 and 2027
Precise estimation of the size of the enterprise data management market for BFSI sector and its contribution to the parent market.
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the enterprise data management market for BFSI sector industry across North America, Europe, APAC, South America, and the Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive details of factors that will challenge the growth of enterprise data management market for BFSI sector vendors
The enterprise performance management market is projected to grow by USD 2.23 billion with a CAGR of 7.31% during the forecast period 2021 to 2026. Increased demand for cloud-based enterprise performance management applications is one of the key factors driving the enterprise performance management market growth. However, data security challenges will reduce the growth potential in the market.
The enterprise application and integration market is estimated to grow at a CAGR of 13.34% between 2022 and 2027. The size of the market is forecast to increase by USD 7,242.64 million. The enhanced efficiency of business processes is notably driving the enterprise application and integration market growth, although factors such as the growing challenges associated with integration may impede the market growth.
Enterprise Data Management Market For BFSI Sector Market In US Scope
Report Coverage
Details
Page number
148
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 12%
Market growth 2023-2027
USD 4277.78 million
Market structure
Concentrated
YoY growth 2022-2023(%)
11.4
Regional analysis
US
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
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., and Teradata Corp.
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents:
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Country Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market Segmentation by Deployment
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Ownership
Exhibit 06: Executive Summary ? Chart on Market Segmentation by End-user
Exhibit 07: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 08: Parent market
Exhibit 09: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 10: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 11: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 12: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 13: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 14: Chart on US: Year-over-year growth 2022-2027 (%)
Exhibit 15: Data Table on US: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Enterprise data management market for BFSI sector in US 2017 - 2021
Exhibit 16: Historic Market Size ? Data Table on Enterprise data management market for BFSI sector in US 2017 - 2021 ($ million)
Exhibit 64: Data Table on Savings institutions - Year-over-year growth 2022-2027 (%)
8.5 Market opportunity by End-user
Exhibit 65: Market opportunity by End-user ($ million)
9 Customer Landscape
9.1 Customer landscape overview
Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 67: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
Exhibit 68: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 69: Overview on factors of disruption
11.4 Industry risks
Exhibit 70: Impact of key risks on business
12 Vendor Analysis
12.1 Vendors covered
Exhibit 71: Vendors covered
12.2 Market positioning of vendors
Exhibit 72: Matrix on vendor position and classification
12.3 Broadcom Inc.
Exhibit 73: Broadcom Inc. - Overview
Exhibit 74: Broadcom Inc. - Business segments
Exhibit 75: Broadcom Inc. - Key news
Exhibit 76: Broadcom Inc. - Key offerings
Exhibit 77: Broadcom Inc. - Segment focus
12.4 Cloudera Inc.
Exhibit 78: Cloudera Inc. - Overview
Exhibit 79: Cloudera Inc. - Business segments
Exhibit 80: Cloudera Inc. - Key offerings
Exhibit 81: Cloudera Inc. - Segment focus
12.5 GoldenSource
Exhibit 82: GoldenSource - Overview
Exhibit 83: GoldenSource - Product / Service
Exhibit 84: GoldenSource - Key offerings
12.6 Informatica Inc.
Exhibit 85: Informatica Inc. - Overview
Exhibit 86: Informatica Inc. - Product / Service
Exhibit 87: Informatica Inc. - Key offerings
12.7 International Business Machines Corp.
Exhibit 88: International Business Machines Corp. - Overview
Exhibit 89: International Business Machines Corp. - Business segments
Exhibit 90: International Business Machines Corp. - Key offerings
Exhibit 91: International Business Machines Corp. - Segment focus
12.8 Micro Focus International Plc
Exhibit 92: Micro Focus International Plc - Overview
Exhibit 93: Micro Focus International Plc - Product / Service
Exhibit 94: Micro Focus International Plc - Key news
Exhibit 95: Micro Focus International Plc - Key offerings
12.9 Mindtree Ltd.
Exhibit 96: Mindtree Ltd. - Overview
Exhibit 97: Mindtree Ltd. - Business segments
Exhibit 98: Mindtree Ltd. - Key offerings
Exhibit 99: Mindtree Ltd. - Segment focus
12.10 Oracle Corp.
Exhibit 100: Oracle Corp. - Overview
Exhibit 101: Oracle Corp. - Business segments
Exhibit 102: Oracle Corp. - Key news
Exhibit 103: Oracle Corp. - Key offerings
Exhibit 104: Oracle Corp. - Segment focus
12.11 QlikTech international AB
Exhibit 105: QlikTech international AB - Overview
Exhibit 106: QlikTech international AB - Product / Service
Exhibit 107: QlikTech international AB - Key offerings
12.12 Salesforce.com Inc.
Exhibit 108: Salesforce.com Inc. - Overview
Exhibit 109: Salesforce.com Inc. - Product / Service
Exhibit 110: Salesforce.com Inc. - Key news
Exhibit 111: Salesforce.com Inc. - Key offerings
12.13 SAP SE
Exhibit 112: SAP SE - Overview
Exhibit 113: SAP SE - Business segments
Exhibit 114: SAP SE - Key news
Exhibit 115: SAP SE - Key offerings
Exhibit 116: SAP SE - Segment focus
12.14 Talend Inc.
Exhibit 117: Talend Inc. - Overview
Exhibit 118: Talend Inc. - Product / Service
Exhibit 119: Talend Inc. - Key offerings
12.15 Teradata Corp.
Exhibit 120: Teradata Corp. - Overview
Exhibit 121: Teradata Corp. - Business segments
Exhibit 122: Teradata Corp. - Key offerings
Exhibit 123: Teradata Corp. - Segment focus
12.16 Winshuttle LLC
Exhibit 124: Winshuttle LLC - Overview
Exhibit 125: Winshuttle LLC - Product / Service
Exhibit 126: Winshuttle LLC - Key offerings
12.17 Zaloni Inc.
Exhibit 127: Zaloni Inc. - Overview
Exhibit 128: Zaloni Inc. - Product / Service
Exhibit 129: Zaloni Inc. - Key offerings
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 130: Inclusions checklist
Exhibit 131: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 132: Currency conversion rates for US$
13.4 Research methodology
Exhibit 133: Research methodology
Exhibit 134: Validation techniques employed for market sizing
Exhibit 135: Information sources
13.5 List of abbreviations
Exhibit 136: List of abbreviations
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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