Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
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"Plunge in data usage in recent years across all the industries raised the demand of Data management platform market. The market value in 2019 is about US$ XX Mn and is expected to reach US$ 5390.1 Mn by 2028 at a CAGR of 15.3% during the forecast period"
Data management platforms have great importance in the field of information gathering and managing across the industries. It enables businesses to analyse the data for gaining insights into the relevant interest of corporate. This supports companies in capitalizing on their business and make favourable decisions in their daily operations. Such benefits by the data management platform are ascending the market for data management platform in the market. In recent times the usage of information media is surging and this is again directly impacting the demand of data management platforms. Demand increase by individual enterprises and media organizations is pushing the growth of the data management platform. Data management platforms are driving the market for its capability to know about operations and publish information that could generate customer requirements and bridge the gaps between them.
Large companies are innovating data management platform which could not only gather, organize and control the information but could also provide security to the database. It would certainly reduce the operational cost of organizations but could also increase the marketing on the internet. Digital marketing is one of the key drivers of data management platforms by various companies. Though the industry changes the applicability of the data management platform is depended on the requirement of a firm in data management. Data management currently is being highly in demand by the Internet of things and Big-Data organizations. Its significance in the companies has increased tremulously because the decisions are now taken based on the historical information gathered. It requires a good platform to analyse and curate that could be utilized for the advantage of companies. These platforms are mostly utilized by service-based organizations firstly and then product-based companies.
The rise in the demand by enterprise for data management platforms:
The platform for enterprise is flexible for capturing, integrating and publishing the information, which could be done by integrating with the central database followed by the applications and data files across various sources. The use of Data management platforms is now highly in demand by enterprises belonging to retail and telecommunication industries. These organizations are driven by the data that they capture to increase their customer satisfaction. Enterprises are now being utilizing these platforms in order to collaborate with the middlemen, customer interaction and optimize organizational operations. The key factor for the increase in demand is it becomes ease of data handling and acts as a central point of source across the organization. This has a benefit of consistency in information and communicating it in a standardized manner.
To secure internet surfing by the integration of data management software:
Data management by the integration of various channels has reduced the misuse of information but it has also secured it. The integration of data management software is in rising for ease in navigation on the internet, secure information sharing and assisting the business in performance. Information security is highly expected by the customers in order to safeguard their privilege. Data-driven advertising is becoming more popular that is driving the market of the data management platforms. During the process of data-driven advertisement, there are high chances of customer data pilferage that requires a sophisticated platform to manage.
The data management system for TV is considered a next-generation platform for data gathering:
Television has become a means to make the public aware of their offerings. But the television broadcasters are not able to gather that data which could be used by advertisers to convert viewers into leads. It has become a next-generation form of data management that could drive the market for a data management system. Through the use of such platforms, organizations can target relevant audiences with suitable advertisements and know their opinions.
APAC a prominent player in the Data management platforms:
In the APAC region Developed nations such as China are in a phase of transition towards cloud-based software from traditional platforms. This transformation is enabling them to manage their information gathering and analysis easier in comparison to the application and network-based data management systems. In the past, the enterprises were only concerned about the security of the information but now they are also focused on safeguarding the data management platforms. Thus the APAC region has strengthened the application of this technology into a variety of business applications. As a result, it not only increased the market share of the data management platform but also enhanced compliance with the regional policies for organizations.
North America has a market share of 33% among other regions in the data management platforms. The rest of the other regions have little growth in the market share during the market share. The expansion of media enterprises is happening at a rapid pace contributing to the growth of the data management industry.
Data management has become a major market among other industries due to which there is a high amount of competition among these organizations. Among major players, Adobe Inc. has become a significant enterprise to offer data management platforms. It has a revenue generation of USD 9.03 billion. Apart from this, there are other strong competitors present in the market catering data management platforms, as follows: Oracle Bluekai, Profisee, Ataccama, Talend master data management, Orchestra networks, SAS Master Data Management, SAP Master data Governance, Omni-Gen, Riversand, and VisionWare MDM, etc.
Segmentation of Data Management platforms:
By Data Source:
- Web analytics tool
- Mobile application
- Mobile website
- Customer relationship management Data
- Social networks
- Advertisement agencies