Global Data Prep Market
The Global Data Prep Market was valued at USD 1.68 billion in 2016 and is projected to reach USD 13.11 billion by 2025, growing at a CAGR of 25.64% from 2017 to 2025.
Data preparation is the process of gathering, combining, structuring and organizing data so it can be analyzed as part of business intelligence and business analytics programs. The components of data preparation include data discovery, profiling, cleansing, validation and transformation. Data preparation tool helps in simple data preparation, disparate data integration, security and information governance, ensure regulatory compliance, and enhances efficiency.
1. Market Drivers
1.1 Emergence of IoT
1.2 Rising need of tools to increase data access and data convergence
1.3 Rising adoption of data preparation by organizations
1.4 Growing importance of on-time qualifies data
1.5 Increasing need for regulatory and compliances
1.6 Increasing need for data prep tools for predictive business analytics
2. Market Restraints
2.1 Concerns for data security and privacy
2.2 Issues in shifting from traditional system to new technologies
2.3 Presence of data silos
2.4 Lack of technical expertise
The Global Data Prep Market is segmented on the tools, platform, deployment model, vertical, and region.
1.1 Data quality
1.2 Data curation
1.3 Data governance
1.4 Data cataloging
1.5 Data ingestion
2. By Platform:
2.1 Data integration
2.2 Self-service data prep
3. By Deployment Mode:
4. By Vertical:
4.3 IT and Telecom
4.4 Banking, Financial Services, and Insurance (BFSI)
4.6 Energy and Utilities
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. IBM Corporation
2. SAP SE
3. Tibco Software Inc.
4. Microsoft Corporation
5. Datawatch Corporation
6. Tableau Software, Inc.
7. Microstrategy Incorporated
8. Alteryx, Inc
9. SAS Institute
10. Qlik Technologies Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Data Prep Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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