The Global Master Data Management (mdm) Solutions market size is estimated to grow by USD 20.29 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of  16.72% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 33%. 

Segment OverviewTechnavio has segmented the market based on Type, Deployment (Cloud and On-premises), End-user (BFSI, Healthcare, Retail, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). 
Geography OverviewBy geography, the global master data management (mdm) solutions market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global master data management (mdm) solutions market.
Increased dependency on the Internet for critical operations is notably driving market growth.
This expansion brings a heightened need for advertising, data management, customer-centricity, and decision-making. Utilizing analytics, these vendors can efficiently develop, edit, and publish digital media advertisements, leading to an expected rise in digital advertising and driving growth in the solutions market.
Leading trends influencing the market 
The rise in mobility solutions fuels market growth, spurred by the growing adoption of mobile devices. This trend has led to increased usage of video management software, with providers offering apps for iOS and Android platforms. Organizations are embracing mobility solutions to access enterprise documents through smart devices, facilitated by cloud-based platforms. This seamless access to business-related documents enhances efficiency by enabling remote document exchange and synchronization with business processes
This seamless access to business-related documents enhances efficiency by enabling remote document exchange and synchronization with business processes
Major challenges hindering the market growth
Despite the immense benefits data analytics offers, there is a scarcity of professionals with expertise in logical and analytical thinking, including mathematicians, statisticians, data scientists, and analysts. This scarcity hampers the ability of analytics vendors to meet client needs, as demand for data analytics exceeds the available talent pool. Additionally, difficulty in acquiring and retaining key employees in outsourcing destinations like India and China, due to better pay scales in countries like the US and Canada, exacerbates the shortage of skilled professionals. Consequently, this trend negatively impacts the growth of the global market in developing countries during the forecast period
Consequently, this trend negatively impacts the growth of the global market in developing countries during the forecast period
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The Data center infrastructure management (DCIM) solutions market size is estimated to grow at a CAGR of 19.38% between 2022 and 2027. The market size is forecast to increase by USD 7,556.47 million. 
The Government Open Data Management (ODM) Platform Market size is estimated to grow at a CAGR of 9.73% between 2023 and 2028. The market size is forecast to increase by USD 96.48 million.
Analyst Review
In today's data-driven landscape, effective data governance plays a pivotal role in ensuring organizational success and regulatory compliance. Data governance encompasses a comprehensive framework of policies, strategies, and controls aimed at managing data assets across their lifecycle, from acquisition to disposal. Key components of data governance include data integration, data quality, data modeling, and data stewardship.

Source prnewswire