The most popular and comprehensive Open Source ECM platform
Let us know more
The Post-Pandemic Surge in Data Management: A Look at the Future
The International Data Corporation (IDC) recently forecast a steady growth in the enterprise applications market, predicting a rise from $279.6 billion in 2022 to $385.2 billion in 20261. This represents a five-year compound annual growth rate (CAGR) of 8.0%, a significant increase compared to the growth observed during the pandemic.
The pandemic era saw an unprecedented reliance on data, with businesses quickly realizing the importance of data management. However, the rapid digital transformation during the pandemic was not without its challenges. Many businesses were not prepared for the swift changes they needed to implement, and 55% of business leaders reported a lack of trust in their data assets.
Now, as we move past the pandemic, the growth in data management is expected to accelerate even further. The IDC report highlights that nearly all this growth will come from investments in public cloud software. Companies that do not pursue this technology will sustain losses due to profound opportunity costs as their competitors adopt cloud technologies.
Several vendors are well-positioned to capture this growth. Gartner’s research highlights four emerging solution providers in data management: Nexla, Soda, timbr.ai, and Tada Cognitive Solutions. These vendors offer innovative alternatives in the marketplace and are considered compliments to existing architectures.
As companies continue to invest in new tools to keep their application portfolio up-to-date, they are also leveraging innovation and a wealth of data to become more creative and resilient in the digital realm. This shift towards a more data-driven operation has made companies realize where there is opportunity for improvement.
The future of data management looks promising. The post-pandemic era is witnessing a surge in data management growth, driven by the lessons learned during the pandemic and the increasing adoption of cloud technologies.
