Global Data Preparation Tools Market- Industry Analysis and Forecast (2020-2027)
February 11, 2021 ⚊ 6 Min read ⚊ Views 398 ⚊ BUSINESS
Global Data Preparation Tools Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 14.10 % during a forecast period.
Global Data Preparation Tools Market
The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Data preparation is a sub-domain of data integration, which can be executed with dedicated tools or traditional tools for data integration such as ETL tools, data virtualization, or data warehouse automation. The goal of data preparation is to support business analysts by preparing different kinds of data for their analytical purposes.
Business users are demanding a fast and flexible analytical landscape from their IT departments. A lack of resources, flexibility, and complex systems are standing in the way of efficient and agile delivery. Smart data management is one of the key drivers for business success mainly in the field of digitalization where data and analytics are increasing importance in the business. Many companies have recognized and striving to solve many of their data usage problems by introducing data preparation. High expectations of the benefits of analytics and the demand for agility are driving the use of data preparation.
The demand for data management solutions is huge, mainly for data preparation. The importance of data and analytics to business success has increased, thanks to the rise in awareness and discussion of big data and digitalization, responsibility among business users for the use of data has increased significantly.
Similarly, the drivers for the introduction of data preparation are leading to increased competitiveness through analytics and the ability to properly tackle current challenges in data management. The top driver behind the market growth is data preparation tools are widely used to recognize changing conditions quickly. Many companies are engaging with data preparation more intensively because of the availability of new technical possibilities for implementation or easier-to-use tools for business departments.
Data preparation begins with the ingestion of raw, structured, and unstructured data. It is required to improve the data quality and standardize the data based on specific requirements of the user to make the data suitable for BI and analytics. Many organizations find tedious to ingest data at the speed which helps maintain smooth performance and competitive advantage because of the increase in the number of data sources in different formats. Many companies are using automation for data ingestion in data preparation.
The retail and e-commerce segment is expected to grow at a XX% rate of CAGR during the forecast period. Retail analytics is one of the primary applications of data preparation tools. It requires data to be collated from different input sources and supplied to various analytics firms for analysis. Self-service data preparation tools can automate the entire process in retail analytics.
Global Data Preparation Tools Market, Regional Analysis:
The Asia Pacific region is expected to grow at a XX% rate of CAGR during the forecast period. The massive growth of data through IoT and other connected devices is expected to boost regional market growth. Many of the large, small & medium scale organizations have achieved a strong position in the analytics market. Some of the prominent key players are increasing customer base through acquisitions and partnerships because of their well-practiced strategy. A large number of organizations are the importance of equipping every user with analytics capabilities. On the other hand, currently, big data from data lakes, Hadoop, IoT or streaming is only used on a manageable scale. Except for IoT, data from these sources are used for preparing data sets for analytics in North America than in Europe. The data preparation tools are used in data preparation for analytics because of its high usage, and great potential in the connection of cloud data sources.
Global Data Preparation Tools Market, Competitive Analysis:
An increase in the digitalization of business processes is making it necessary for organizations to enable as many users as possible to gain insights from data. Currently, many companies view data preparation as the key to increase their ability to efficiently use data in a distributed manner to optimize business processes. Data preparation tools widely use the various innovative technologies and software solutions for data integration, data science, BI, and analytics. Many key players are increasing their market presence the advancement across the data preparation technique. For instance, in 2019, Tableau expands data preparation capabilities with Tableau Prep Conductor, which enables organizations to schedule and manage self-service data preparation.
The objective of the report is to present a comprehensive analysis of the Global Data Preparation Tools Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Data Preparation Tools Market dynamics, structure by analyzing the market segments and projects the Global Data Preparation Tools Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Data Preparation Tools Market make the report investor’s guide.
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Scope of the Global Data Preparation Tools Market
Global Data Preparation Tools Market, By Platform
• Self-service
• Data integration
Global Data Preparation Tools Market, By Function
• Data collection
• Data cataloging
• Data quality
• Data governance
• Data ingestion
• Data curation
Global Data Preparation Tools Market, By Deployment Mode
• On-premises
• Cloud
Global Data Preparation Tools Market, By Vertical
• IT and Telecom
• Retail and E-commerce
• BFSI
• Government
• Healthcare
• Energy and Utilities
• Transportation
• Manufacturing
• Others
Global Data Preparation Tools Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Data Preparation Tools Market
• Alteryx, Inc.
• Informatica Corporation
• Datawatch Corporation
• Trifacta
• Waterline Data
• ThoughtSpot
• International Business Machines Corporation
• Microsoft Corporation
• InfluxData Inc.
• MicroStrategy Incorporated
• Qlik Technologies Inc.
• SAP SE
• SAS Institute Inc.
• Tibco Software Inc.
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