According to the latest report by IMARC Group, titled “Data Preparation Market: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the data preparation market share. The global data preparation market size reached US$ 3.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.2 Billion by 2027, exhibiting a growth rate (CAGR) of 22.88% during 2022-2027.
Data preparation represents the process of combining, organizing, exploring, and structuring basic information into curated datasheets. It is mainly used for science and discovery, self-service data integration, and business purposes. Data preparation provides high-quality and consistent information to the organizations to maximize their intellectual potential. It assists in enriching source data, standardizing detail formats, and removing outliers. Data preparation also aids in making more useful business decisions, improving information quality, and fixing errors. As a result, this process finds widespread applications across various sectors, such as BFSI, healthcare, manufacturing, retail and e-commerce, transportation, energy and utilities, etc.As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The escalating need for profound insights and analysis of consumer behavior and their preferences in real-time is among the primary factors driving the data preparation market. Besides this, the tool ensures easy interchangeability, collaboration, and profiling of information, which is further augmenting the market growth. Moreover, the growing popularity of data preparation across the telecom, information technology (IT), and retail industries, as it empowers exploratory analytics, increases analyst productivity, and improves organizational usage, is also catalyzing the global market. Apart from this, the increasing utilization of automation and cloud technologies in enterprises is acting as another significant growth-inducing factor. Additionally, the integration of advanced technologies, including artificial intelligence (AI) and machine learning (ML) by the leading players to read, interpret, and flatten complex information structures is also stimulating the market growth. Furthermore, the elevating requirement for this tool to maintain large datasheets of previous trials and track records of affected patients, owing to the sudden outbreak of the COVID-19 pandemic across the globe, is expected to bolster the data preparation market in the coming years.
Breakup by Platform:
Self-Service
Data Integration
Breakup by Tools:
Data Collection
Data Cataloguing
Data Quality
Data Governance
Data Ingestion
Data Curation
Breakup by Deployment Model:
On-premises
Cloud-based
Breakup by Enterprise Size:
Small and Medium-sized Enterprises (SMEs)
Large Enterprises
Breakup by End User:
BFSI
Healthcare
Retail and E-Commerce
Manufacturing
Energy and Utilities
IT and Telecommunication
Transportation
Others
Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Altair Engineering Inc
Alteryx Inc
Informatica
International Business Machines Corporation
Microsoft Corporation
MicroStrategy Incorporated
Oracle Corporation
Qlik
SAP SE
SAS Institute Inc
Tableau Software LLC (Salesforce.com Inc.)
TIBCO Software Inc
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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