A recent professional intelligence study by Transparency Market Research (TMR) has informed that Master Data Management (MDM) BPO market is invited for a prosperous future. And while global stocks are consolidated between a small pool of players, regional players are also mash-up, boosting collaboration and acquisition as some key strategies for major players to maintain their stronghold. Some of the major players in the global MDM BPO market are Accenture, Riletio, Riversand, Capgemini SE, Informatica Corporation, Tibo Software, Stebo Sycytsam, Inc., SpacePage, Almaviva, Atos SE, Almaviva and Tata Communication Services Limited. For geographical expansion through partnerships, many key players in this market are also systematically growing, focusing on developing new products that can attract a greater share of customers.
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According to tmr report estimates, global master data management BPO market demand will expand to a strong CAGR of 13.4% during the 2025 forecast period of 2017. Analysts have evaluated that the OPPORTUNITIES in the MDM PPO market were translated. Revenue of US$5,030.9 million in 2017, and valuations by 2025 are projected to reach US$13,717.0 million.
Depending on the component, the report includes master data management BPO market in software that includes on-premises and cloud and services, which are further divided into system integration, consulting, master data management services and operations and maintenance. Based on solutions, the market is classified into product data solutions, multi-domain MDM solutions, and customer data solutions. The report also takes stock of the demand potential of MDM BPO, which can be expected from the end use industries of banking, financial services and insurance (BFSI), automotive, manufacturing, IT and telecom, retail and others. Geographically, North America is highlighted as the most profitable region, followed by Europe. However
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Requires efficient management of data driving demand
Quite a few factors are behind the impressive growth of the global master data management BPO market, but no data management process is required larger than inevitable. With the trend of new and technologically advanced automation methods improving efficiency across different enterprises, the need to manage huge data is also constantly increasing. As a result, changes requiring a tool or software can be customized with the original. In addition, increased need for compliance and verification and increasing demand for data quality and operational excellences master data management running bpo market. Data breach is an important consideration for organizations due to the increasing number of cyber attacks in recent years.
Security concerns that hamper market prosperity
On the other hand, MDM BPO services face security threats and are vulnerable to cyber attacks. Additionally, lack of awareness is another restraint reflecting negatively on the market. However, over the years, master data management has seen substantial advancement with the emergence of the Internet of Things (IoT), revolutionizing many information technology and being used by a wide range of industries. Organizations are increasing their investment in IoT technology, as it offers various benefits in the areas of global networks, big data analytics and cloud computing. A number of startups have also emerged very rapidly around the world, which will further increase the market during the forecast period.