Data Preparation Tools Market Is Expected To Expand At A CAGR Of 18.6% From 2021 To 2028

 Data Preparation Tools Industry Overview

The global data preparation tools market size was valued at USD 3.08 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 18.6% from 2021 to 2028. Data preparation tools are mainly used for combing data from multiple sources and preparing the data for analysis. Data preparation tools have been in the market for a long time; however, there was a high need for expert assistance earlier. Data preparation finds greater acceptance in data-driven markets such as IT and BFSI. The primary function of these tools is to find the right data at the right time in an efficient way. However, issues arising in data preparation may lead to results that are insufficient and time-consuming, thereby hampering the decision-making process.

Demand for self-service data preparation tools is increasing rapidly as enterprises and organizations continue to adopt advanced analytics and Business Intelligence (BI) platforms. Adopting a combination of a cloud platform and a self-service data preparation platform is a growing trend among data-driven IT companies.

Gather more insights about the market drivers, restrains and growth of the Global Data Preparation Tools market

The rising demand for data analytics is expected to augment the demand for cloud-based data preparation tools in various data-driven applications. In addition, a rising focus on the self-service platform is anticipated to enhance the operations within the organizations and thus is expected to propel the demand for data preparation tools. The rising demand for analytics in enterprises has encouraged various data-driven organizations to invest in the research and development of the data preparation market.

The market is expected to witness a surge in the adoption of the technology owing to benefits such as extracting business insights from socially shared pictures and auto-organizing untagged photo collections. Also, it helps to offer enhanced safety features in autonomous vehicles, such as emergency vehicle detection, terrain detection, wear detection, and condition monitoring, among others. Machine learning, powered by data gathering, has been embedded in several fields, such as robotics & drones, automated image organization of visual websites, and face identification on social networking websites, among others.


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Data Preparation Tools Market Segmentation

Grand View Research has segmented the global data preparation tools market based on platform, function, deployment, vertical, and region:

Data Preparation Tools Platform Outlook (Revenue, USD Million, 2018 - 2028)

  • Self-service
  • Data Integration

 

Data Preparation Tools Function Outlook (Revenue, USD Million, 2018 - 2028)

  • Data Collection
  • Data Cataloging
  • Data Quality
  • Data Governance
  • Data Ingestion
  • Data Curation

 

Data Preparation Tools Deployment Outlook (Revenue, USD Million, 2018 - 2028)

  • On-premise
  • Cloud

 

Data Preparation Tools Vertical Outlook (Revenue, USD Million, 2018 - 2028)

  • IT and Telecom
  • Retail and E-commerce
  • BFSI
  • Government
  • Healthcare
  • Energy and Utilities
  • Transportation
  • Manufacturing
  • Others

 

Data Preparation Tools Regional Outlook (Revenue, USD Million, 2018 - 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 


Key Companies profiled:

Some prominent players in the global Data Preparation Tools market include

  • Alteryx, Inc.
  • Datawatch Corporation
  • Informatica Corporation
  • International Business Machines Corporation
  • Microsoft Corporation
  • MicroStrategy Incorporated
  • Qlik Technologies Inc.
  • SAP SE
  • SAS Institute Inc.
  • Tibco Software Inc.

 

Order a free sample PDF of the Data Preparation Tools Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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