Organizations require master data management (MDM) capabilities to succeed at using continuously changing and fragmented data coming from a plethora of data sources. With the emergence of technologies like AI, edge computing, and streaming across all systems, MDM has evolved significantly from its traditional role. Modern MDM solutions have become dynamic platforms that enrich, secure, govern, and deliver harmonized and trusted data to support various systems, applications, real-time analytics, and insights. This report highlights the capabilities and trends impacting modern MDM solutions and helps business, technology, and data leaders make informed investment decisions.