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Enterprise Software: MDM Growth Comes on Strong
Master Data Management (MDM) software revenue is up 24.1 percent over 2008 revenues, coming in at $1.3 billion. It’s one of the fastest growing segments for enterprise software, and one of the most difficult ones to pin down exactly as to what it is. Those are numbers from a new report by Gartner, Inc. Gartner expects MDM software revenue to reach $2.8 billion by 2012. Although their estimates have the caveat that the current economic turmoil may cause budgets to contract significantly soas to adversely affect at least the near term.
“MDM technology can help organizations achieve and maintain a single view of master data across an entire enterprise, enabling business and IT initiatives to perform in better unison, allowing for opportunities to increase revenue, reduce costs, achieve effective compliance, reduce risk and improve business agility,” said Chad Eschinger, research director at Gartner. “The technology continues to mature and has great potential for enabling more-efficient and effective business processes in the future.”
The definition of MDM is very broad and the nature and function of different offerings vary considerably by technology, industry, data domain and use case. MDM tries to map core enterprise entities with attributes of the business process. An entity may be a customer, employee, partner or supplier. Attributes could include location, such as offices and regions, and things like assets, products and services. It’s a mapping the provides invaluable information but which is one that’s very difficult to do well.
North America and Western Europe accounted for 85.7 percent of MDM spending, but it is expected to grow significantly slower than other areas. Asia currently only accounts for about 6 percent of the market today, but should reach as high as 9 percent by 2012.
