Revenues from master data management (MDM) software are set for record growth in 2012, research firm Gartner predicts.
The firm tips revenues to grow 21% to $1.9 billion (€1.4 billion) through 2012, which research director Colleen Graham claims is the largest annual growth experienced by the market since 2008. The market will continue growing over the next three years, with Gartner predicting revenues will hit $3.2 billion by 2015.
Demand from North America and Europe is fuelling the growth, and Gartner tips revenues from both to break the billion dollar mark in 2013 and 2015 respectively. However, the fastest growth market for 2013 will be Asia Pacific, where sales are expected to grow 30% year-on-year to $209 million.
“Pressures to optimize costs and efficiencies in a heterogeneous IT environment are driving organizations to turn to MDM as a more efficient way to manage and maintain data across multiple sources,” Graham states, adding that growing corporate “governance, risk and compliance regulations” are also fuelling sales.
The growing sales make a glut of merger and acquisition activity likely among smaller MDM vendors, while current market leaders IBM, Oracle and SAP are also tipped to buy expertise as necessary.