Global “Data Preparation Tools Market” report offers an overview of the market size, share, trends, drivers, and barriers with respect to the Data Preparation Tools Industry. Latest report on the global Data Preparation Tools market is a compilation of key market insights and discusses key market dynamics such as drivers, restraints, and opportunities at length. It also provides a comprehensive overview of the market of different regions across North America, Europe, Asia Pacific, South America, Africa and Others.
The Data Preparation Tools Market report discusses the primary industry
growth drivers and challenges that the vendors and the market as a whole face
and provides an overview of the key trends emerging in the market. It also
talks about the market size of different segments and their growth aspects
along with key leading countries in Americas, Asia-Pacific, Europe, the Middle
East, and Africa regions.
Significant Features that are under Offering and Key Highlights of the
Reports:
• Detailed overview of Data Preparation Tools Market
• Changing market dynamics of the Data Preparation Tools industry
• In-depth market segmentation by Type, Application etc
• Historical, current and projected market size in terms of volume and
value
• Competitive landscape of Data Preparation Tools Market
• Strategies of key players and product offerings
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The Global Data Preparation Tools Market was valued at
USD 1.10 billion in 2016 and is predicted to reach USD 8.47 billion by 2025 due
to increase in demand for data from various industries for analysis. Data
Preparation is the method of collecting, integrating, structuring and
organizing data so that is can be examined as a part of visualization, analytics
and machine learning applications. The demand for data from retail and IT
sector is increasing, due to which the market is expected to grow substantially
with a CAGR of 25.1%.
The components of data preparation include
pre-processing, profiling, cleansing, validation and transformation; it also
involves pulling together data from different internal and external sources.
Data Preparation is performed by Information Technology and Business
Intelligence teams since they combine data sets to store the data in data
warehouse, Hadoop data leak repository or NoSQL database. Moreover, data
analysts can take the help of self-service data preparation tools to gather and
prepare analytical data with data visualization tools like Tableau. Data
preparation makes sure that the data to be analyzed is consistent and accurate
for the valid and useful results. Sometimes, data is created with inaccuracies,
missing values and other errors. Data is also stored in different databases and
files that causes confusion and ambiguity for data reconciliation. At such
times, data preparation process is required for the improvements like fixing
inaccuracies, performing verification, and integrating data sets for improved
analytic results.
The major driving forces of the Data Preparation Market
comprise the rising significance of on-time qualified data, benefits of
simplified business operations, the growing need to follow regulatory and
compliance requirements and the use of data preparation tools in analytical
data. The quality of data is influenced by the data storing and management
technique. Therefore, businesses are adopting data quality tools for
maintaining consistency, which improves decision making. The retail shops,
commercial buildings, educational institutions, malls, restaurants, hotels are
some of the industries which are extensively adopting data preparation tools
for decision making, resource allocation and asset management. The use of Data
Preparation Tools in these sectors is largely contributing the Data Preparation
Tools Market.
Moreover, data security is one of the issues that is
hindering the Data Preparation Market. Also, the costly initial implementation
is another factor expected to restrain the Data Preparation Tools Market.
Nevertheless, the selection of right cloud infrastructure partner and
appropriate analytical tools are challenges for the Data Preparation Tools
Market.
The market is categorized on the basis of deployment
model, tool type, platform, industry vertical, and geography. On the basis of
deployment model, the market is divided into hosted and on premise. On the
basis of tool type, market can be divided into data curation, data cataloging,
data quality, data ingestion, and data governance. On the basis of platform,
the Data Preparation Tools Market can be classified into self-service and data
integration data preparation. On the basis of industry vertical, market can be
divided into Banking, Financial Services & Insurance, transportation, energy
& utility, healthcare, government, IT & telecommunications,
manufacturing, and etc.
Geographically, the Data Preparation Tools Market can be
segmented as North America, Asia Pacific, Europe, Middle East & Africa and
South America. North America is predicted to contribute maximum share of the
Data Preparation Tools Market owing to significant growth in demand of data
through IOT (Internet of Things) and other connected devices in the area.
Some of the prominent Data Preparation Tools Industry
players summarized are Alteryx, Inc., Tableau Software, Inc., Informatica
Corporation, Datawatch Corporation, International Business Machines
Corporation, Tibco Software Inc., SAS Institute, Microsoft Corporation, SAP
SE., Talend, and Qlik Technologies Inc.
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