“Increasing importance of on-time qualified data is one of the drivers driving the data prep market”
The global data prep market size is estimated to grow from USD 1.46 billion in 2016 to USD 3.93 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 25.2%. There is increase in data traffic due to the exponential growth of big data, analytics, and other technological modules. Hence, there is huge demand for data prep solutions to analyze the data and get actionable insights.
“The data quality tool accounts for the largest market share during the forecast period”
The data prep market by data quality tool is estimated to grow with the largest market share during the forecast period. Data quality tools are being used in various verticals and have various applications. By maintaining data quality before the analytics phase, analysts can blend data easily and build concise predictive models. Data quality tools is also being used for asset & liability management, budgetary control management, general ledger management, payables & receivables management, and profitability management.
“Asia-Pacific is projected to grow at the highest rate during the forecast period”
North America holds the largest market share in 2016 and the trend is expected to continue in the coming years. The data prep market is showing strong positive trends in the region as several companies and industries are adopting data prep at various levels, as a part of their strategy to strive in the market and increase their productivity. The Asia-Pacific (APAC) market is expected to witness exponential growth and is projected to be the fastest growing region for the global data prep market. This is due to the rising demand for data prep solutions and services in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:
- By Company Type: Tier 1: 25%, Tier 2: 39%, and Tier 3: 36%
- By Designation: C-level: 50%, Director level: 35%, and Others: 15%
- By Region: North America: 48%, Europe: 32%, APAC: 20%
The various key vendors profiled in the report are as follows:
1. Alteryx, Inc. (U.S.)
2. Informatica (U.S.)
3. International Business Corporation (U.S.)
4. TIBCO Software, Inc. (U.S.)
5. Microsoft Corporation (U.S.)
6. SAS Institute (U.S.)
7. Datawatch Corporation (U.S.)
8. Tableau Software, Inc. (U.S.)
9. Qlik Technologies Inc. (U.S.)
10. SAP SE (U.S.)
11. Talend (U.S.)
12. Microstrategy Incorporated (U.S.)
The report segments the data prep market on the basis of platforms, which include self-service data prep and data integration; tools such as data curation, data cataloging, data quality, data ingestion, and data governance; deployment models which consist of hosted and on-premises; and verticals, which include Banking, Financial Services, and Insurance (BFSI), government, healthcare, retail & e-commerce, manufacturing, energy & utilities, transportation, IT & telecommunication, and others which include real estate, travel & hospitality, and research in the regions of North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.
Reasons to buy the report:
- To get a comprehensive overview of the global data prep market
- To gain wide ranging information about the top players in this market sphere, their product portfolios, and key strategies adopted by them
- To gain insights of the major countries/regions in which the data prep market is flourishing in various industries