Structured Data Management Software Market Size

Structured Data Management Software Market size was valued at USD 75.74 Billion in 2023 and is projected to exceed USD 211 Billion by the end of 2036, registering over 8.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of structured data management software is evaluated at USD 81.95 Billion.. The growth of the market can be attributed to the increasing data generation in healthcare, most of the healthcare data is structured, that can use software for easy access. The amount of healthcare data greatly expanded by the end of 2020, rising from 500 petabytes in 2012 to 25,000 petabytes. Furthermore, rising trends of digital payments is also expected

In addition to these, factors that are believed to fuel the market growth of structured data management software include the rapidly increasing data volumes, the consequent rise in the adoption of digital technologies for the transformation of businesses, along with the development of new technologies for database applications are expected to fuel the progress of this market. Along with this, structured data management software helps to reduce data footprints and storage, maintenance, hardware, and administration costs, which is another factor estimated to benefit the market growth in the coming years. Moreover, the growth of the market can also be attributed to the adoption of structured data management software by BFSI, IT & telecom, manufacturing, healthcare, and retail companies to manage scattered. Additionally, the growing focus of enterprises towards digital transformation and increasing developments in e-commerce sector is projected to offer ample opportunities for market growth in the near future. For instance, as per the United Nations Conference on Trade and Development (UNCTAD), global e-commerce sales increased to USD 26.7 trillion in 2019, up 4% from 2018.