Global master data management (MDM) software revenue is likely to rise by 21 per cent to $1.9 billion in 2012, research firm Gartner said today.
MDM comprises a set of processes and tools for management of the non-transactional data of a firm.
“This is the biggest annual growth we have seen for this market since 2008. Pressures to optimise costs and efficiencies in a heterogeneous IT environment are driving organisations to turn to MDM as a more efficient way to manage and maintain data across multiple sources,” Gartner Research Director Ms Colleen Graham said in a statement here.
“MDM has become a critical discipline required for dealing with the challenges of social data, big data and data in the cloud,” she added.
The MDM market is expected to reach $3.2 billion by 2015, with North America and Europe driving the growth. “North America and Europe will drive the demand for MDM.