Data Preparation Tools Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe global data preparation tools market size is anticipated to
reach USD 8.47 billion by 2025, according to a new report by Grand View
Research, Inc., exhibiting a CAGR of 25.1% over the forecast period. Data
preparation tools can help organizations augment their efficiency by ensuring
easy access to data. Increasing demand for data analytics, particularly in IT
and retail sectors, is expected to drive demand for data preparation tools.
The growth of the data preparation tools market can
be attributed particularly to capabilities of self-service data preparation
tools to ensure easy interchangeability, collaboration, and profiling of data.
These tools can also address concerns associated with safety of the data.
Demand for self-service data preparation tools will continue to increase as
data analytics companies continue to demand efficient solutions to access and
analyze large volumes of data.
On-premise deployment of data preparation tools
accounted for the largest revenue share in 2016 as organizations prefer to
adopt conventional data collection and preparation techniques. However, demand
for deployment of data preparation tools over the cloud is expected to grow
over the forecast period, as cloud deployment can ensure easy access to data
via virtual sources.
Data preparation tools help enterprises collect,
analyze, and standardize data. The data collection segment accounted for the
largest market share of more than 28.0% in 2016. However, the data governance
segment is expected to expand noticeably over the forecast period.
North America accounted for the largest share in the
data preparation tools market in 2016. Demand for data preparation tools is
expected to increase over the forecast period in line with growing adoption of
data preparation tools for data analytics in U.S. However, Asia Pacific is
expected to exhibit the highest CAGR over the forecast period.
Further
key findings from the report suggest:
- Demand for data preparation tools is expected to increase as various
companies jointly adopt data governance initiatives
- The market size of the IT and telecom segment is anticipated to
expand at a CAGR of 26.8% over the forecast period
- Asia Pacific is expected to witness significant growth over the
forecast period owing to large-scale adoption of data preparation tools in
retail analytics
- Alteryx, Inc.; Datawatch Corporation; Informatica Corporation;
International Business Machines Corporation; Microsoft Corporation;
MicroStrategy Incorporated; Qlik Technologies Inc.; SAP SE; SAS Institute
Inc.; and Tibco Software Inc. are some of the key players in the market
for data preparation tools.
Access
full research report on global data preparation tools market:
www.grandviewresearch.com/industry-analysis/data-preparation-tools-market
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Created on Jan 28th 2020 00:53. Viewed 323 times.