The structured data management software market is predicted to develop at a CAGR of 7.10% from 2022 to 2032, and is expected to reach US$ 137394.92 Million by 2032. In 2022, the market was valued at US$ 69195.20 Million.
The increasing usage of Internet of Things (IoT) devices, the growing requirement for on-time data transmission, and the expanding need for data management in companies as a vital necessity for business continuity are just a few of the factors driving the market growth for structured data management software.
The market for structured data management software is likely to be influenced by the desire for centralized data storage solutions to manage sensitive information. The increased number of data breaches may endanger the market growth.
| Attributes | Details |
|---|---|
| Market for Structured Data Management Software CAGR | 7.10% |
| Market Size for Structured Data Management Software 2022 | US$ 69195.20 Million |
| Market Size for Structured Data Management Software 2032 | US$ 137394.92 Million |
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The market for structured data management software is anticipated to expand as a result of rising need for centralized data storage solutions to manage sensitive information. The market is anticipated to increase as a result of increasing organizational need for data processing systems.
During the projected period, expanding adoption of structured data management software across various industries is anticipated to create revenue possibilities for software suppliers.
Concerns about Data Security and Privacy to Impede Structured Data Management Software Market Expansion
The market's growth may be constrained by the growing security concerns to data privacy on digital platforms that are brought on by organizations' increasing adoption of data platforms.
Data breaches have a negative financial impact on businesses. The structured data management software market expansion is additionally anticipated to be hampered by growing cyber-attacks on company data.
Due to the region's early adoption of new database technologies by key industries (banking, manufacturing, IT & telecom), as well as the presence of significant solution providers, North America owns a significant share of the global market.
Asia-Pacific Outlook
The Asia-Pacific market is estimated to grow the quickest during the forecast period due to the increasing adoption of structured data management software platforms to manage corporate information for enhancing the efficiency of business operations by offering access to a centralized database.
Principal Consultant
Hewlett Packard Enterprise Development LP, Clarity Information Solutions, IBM, Salesforce.com, Teradata, Oracle, SAS Institute Inc., and Rackspace US, Inc. are among the prominent participants in the global structured data management software market.
Overall, the market's growth prospects are positive, since adoption across most small and medium-sized businesses is expected to climb in the near future. Market participants have been investing large resources in R&D initiatives to support growth and improve internal business processes.
In April 2021, IBM Corporation will launch a storage system for data management across hybrid clouds. The storage solution is expected to improve data management in hybrid cloud environments, resulting in increased data availability and flexibility.
Increasing data volume, complexity from stringent regulations, new database applications, and legal discovery requirements is posing challenges to organizations of all sizes. In order to address these challenges, organizations are utilizing structured data management software which enables organizations to store and manage various forms of data generated during operations.
A structured data management software facilitates efficient archiving of legacy data from existing applications and retire the complete data store from existing applications, in turn reducing application footprint and enhancing performance. These software solutions enables enterprises to retire the outdated applications through automated processes such as extracting, validating, and deleting data.
Databases that have been in service since long time, accumulate large amount of data. Significant part of this data remains inactive which can be efficiently stored in a less expensive location outside the active database. Also, accumulation of such old records in the active database slows performance of the database, in turn leading to the need for additional, expensive hardware tools.
Therefore, in order to avoid such complexities and ensuring smooth system performance, enterprises are utilizing structured data management software solutions. This enables the user to balance the need for long-term records retention along with optimal database performance.
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The market growth of structured data management software solutions is driven by various factors such as increasing data volumes that adversely affect database performance, need to retain and manage large volumes of historical data in effective manner, and to effectively address regulatory compliance demands to avoid financial penalties.
Additionally, the structured data management software market is propelled by the several advantages offered by these solutions. Some of these advantages include immediate and indistinguishable access to the archive data, enables critical data to survive longer than the originating applications or databases, and accelerates application retirement processes to shorten time to cost savings.
However, the growth of market is confronted by challenges such as concerns related security and data privacy, and frequent cyber-attacks on enterprises, which has decreased the demand for database products to some extent.
The major players active in the global structured data management software market include Hewlett Packard Enterprise Development LP, Clarity Information Solutions, IBM, Salesforce.com, Teradata, Oracle, SAS Institute Inc., and Rackspace US, Inc.
Overall it can be concluded that the growth prospects of the structured data management software market are promising, as adoption across most small and medium enterprises is set to increase in the foreseeable future.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global structured data management software market is mainly classified on the basis of deployment type, end user and regions.
On the basis of deployment type, global structured data management software market is segmented into
Onthe basis of end user, the market can be segmented as
On the basis of regions, the market is segmented into 7 key regions:
The market is likely to register a CAGR of 7.1% through 2032.
The market is currently valued at US$ 69195.20 Mn in 2022.
The market is likely to grow to a valuation of US$ 137394.92 Mn by 2032.
North America is likely to be a leading market during the forecast period.
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Structured Data Management Software Market
