The 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.
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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.
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Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, the company offers market intelligence studies
ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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