- Companies are facing data management issues with the increasing volume of databases, new technologies in database applications, complexity due to changing regulations, and increasing demand for data mining processes. Companies are thus adopting structured data management software platforms to manage and store different forms of data generated during business operations.
- Structured data management software is mostly used to manage compliance issues in entire business cycles. This software helps to reduce data footprints and overall storage cost that includes maintenance, hardware, and administration cost. For protecting the database, the software applies the intelligent encryption format for sensitive data and uncovers important information from all data repositories.
- Structured data management software allows companies to store sensitive data in a structured format on centralized data storage or cloud-based data platforms that helps in data recovery and increases data accessibility among enterprise networks.
- Most manufacturing, IT & telecom, and retail companies are using structured data management software to manage the unstructured data generated through connected devices in production lines, customer service, and point of sale processes.
Key Drivers of the Structured Data Management Software Market
- Increasing demand for centralized solutions for data storage to manage sensitive information is expected to drive the growth of the structured data management software market. Growing demand for data processing platforms among enterprises is also expected to boost the growth of the market.
- Increasing adoption of structured data management software in different industries is expected to generate revenue opportunities for software providers during the forecast period.
Data privacy and security concerns expected to hinder the growth of the structured data management software market
- Increasing adoption of data platforms among enterprises also increases security threats in data privacy on digital platforms, which may restrain the growth of the market.
- Companies are facing financial loss due to data breaches. Increasing cyber-attacks on enterprise data is also expected to hamper the growth of the market.
Impact of COVID-19 on the Global Structured Data Management Software Market
- Most businesses have shifted to the work from home business model due to the increasing impact of COVID-19 on business growth. Growth of the structured data management software market is limited to essential goods manufacturing companies and adoption rate of technology-based service companies is low due to low return of investment and reduced investment on new technologies during lockdown conditions.
- Demand for structured data management software solutions is decreasing during COVID-19 but demand is set to increase after the stabilization of global market conditions.
North America to Hold Major Share of the Global Structured Data Management Software Market
- North America holds prominent share of the structured data management software market due to the early adoption of new database technologies in major sectors (banks, manufacturing, IT & telecom industries) and also due to the presence of major solution providers in the region.
- The structured data management software market in Asia Pacific is expected to expand the fastest during the forecast period due to the increasing adoption of technologically advanced data software platforms to manage business information for increasing the efficiency of business operations by providing access to a centralized database.
Key Players Operating in the Global Structured Data Management Software Market
- Google, LLC.
Google, LLC. is a multinational company that develops and provides Internet-based products and services. The company’s core products include Google Search, Maps, Android Platform, Chrome Browser, YouTube, Google Play, Gmail, and smartphones. Google, LLC. offers data management software & tools, smart analytics solutions, and cloud storage platforms for the database.
- Salesforce.com, Inc.
Salesforce.com, Inc. provides a technological platform to businesses to build and run business applications. Salesforce.com, Inc. offers a solution that helps users to manage their customer records, sales, and other enterprise operational data. The company offers solutions in marketing, analytics, sales, commerce, and services sectors.
Other key players operating in the global structured data management software market include Clarity Information Solutions, The Hewlett-Packard Company, IBM Corporation, Teradata Corporation, Rackspace Technology, Inc., and SAS Institute Inc.
Global Structured Data Management Software Market: Research Scope
Global Structured Data Management Software Market, by Deployment
Global Structured Data Management Software Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Structured Data Management Software Market, by Industry
- IT & Telecom
- Retail & Ecommerce
Global Structured Data Management Software Market Segmentation, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Structured Data Archiving and Application
- Analytics-driven Data Management Software
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