Enterprise Data Management Market size was valued at USD 99.38 billion in 2023 and is projected to exceed USD 443.82 billion by 2036, expanding at over 12.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of enterprise data management is evaluated at USD 109.08 billion. The growth of the market can be attributed to factors, such as, growing digitalization in every sector and increasing regulations for data protection. Growing cybercrimes are estimated to propel the market growth. For instance, approximately 3,500 data breaches were reported in early 2019, exposing around 4 billion records worldwide. Additionally, the average duration to figure out the data breach within an enterprise is projected to be about 200 days. A single data breach incident can cost an enterprise millions of dollars. Hence, enterprise data management system has become a vital part of a business organization. As of 2021, the global average cost of a data breach was anticipated to be about USD 4 million. Furthermore, various alternatives to deployment methods, excellent control over quality, and other advantages of data management can be major growth drivers for the market during the forecast period. Moreover, the growing demand to manage data traffic is estimated to hike the growth of the market. In 2021, the global cloud data IP traffic is anticipated to be more than 15,000 exabytes. All these factors are projected to influence the growth of the market positively during the forecast period.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
12.2% |
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Base Year Market Size (2023) |
USD 99.38 billion |
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Forecast Year Market Size (2036) |
USD 443.82 billion |
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Regional Scope |
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The market is segmented by type into cloud and on-premise, out of which, the on-premise segment is anticipated to hold the notable share in the global enterprise data management market during the forecast period on account of 24-hour availability and low monthly cost. Additionally, the on-premise infrastructure is less prone to data breaches since the data is locally stored on the enterprise’s premise.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Enterprise Size |
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By Component |
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By End-User |
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Regionally, the global enterprise data management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America industry is anticipated to hold largest revenue share by 2036, propelled by rising incidents of data breach threats and presence of major key players in the region.. For instance, about 1,000 data breaches were noticed in 2020, exposing almost 150 million records solely in the United States. Furthermore, increasing investment in 5G technology in the region is also anticipated to be one of the major growth drivers of the market over the forecast period. As of 2020, approximately USD 250 billion had been invested in the development of 5G technology in the United States. Such factors are anticipated to propel the growth of the market over the forecast period in the region.
Additionally, the Asia Pacific region is projected to provide lucrative opportunity for the growth of the market over the region. China is considered the leading country in 5G technology. As of 2021, more than 1 million 5G base stations have been installed in China. Furthermore, growing utilization and development of machine learning are also anticipated to foster the growth of the market throughout the forecast period.
Author Credits: Abhishek Verma
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