USD 3.91 billion
Data Preparation Tools Market Size, Share, Growth Analysis, By Platform(Self-service, Data integration), By Deployment(On-premise, Cloud), By Functions(Data Collection, Data Cataloging, Data Quality, Data Governance), By Vertical(IT & Telecom, Retail & E-commerce, BFSI, Government), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2081 |
Region:
Global |
Published Date: November, 2024
Pages:
260
|Tables:
123
|Figures:
79
Data Preparation Tools Market Insights
Global Data Preparation Tools Market size was valued at USD 4.9 billion in 2022 and is poised to grow from USD 5.69 billion in 2023 to USD 18.93 billion by 2031, growing at a CAGR of 16.2% during the forecast period (2024-2031).
The main purpose of data preparation tools is to combine data from various sources and prepare the data for analysis. Although there are many data preparation tools on the market today, earlier there was a great need for professional help. In data-driven industries like IT and BFSI, data preparation is more widely accepted. These tools' main purpose is to efficiently locate the appropriate data at the appropriate time. The decision-making process, however, may be hampered by issues with data preparation that result in incomplete and time-consuming results.
As businesses and organizations continue to adopt advanced analytics and Business Intelligence (BI), the demand for self-service data preparation tools is rising quickly. Data-driven IT companies are increasingly adopting hybrid cloud platforms and self-service data preparation platforms. In numerous data-driven applications, the increasing demand for data analytics is anticipated to increase the demand for cloud-based data preparation tools. Additionally, a growing emphasis on self-service platforms is anticipated to improve organizational operations and, as a result to drive demand for data preparation tools. Numerous data-driven organizations have increased their investments in market research and development for data preparation as a result of the growing demand for analytics among businesses.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Data collection
Fastest Growth
Data cataloguing
Growth Rate
18.6% CAGR
Global Data Preparation Tools Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Data Preparation Tools Market Segmental Analysis
Global Data Preparation Tools Market is segmented by Platform, Deployment, Functions, Vertical, and region. Based on Platform, the market is segmented into Self-service, and Data integration. Based on Deployment, the market is segmented into On-premise, and Cloud. Based on Functions, the market is segmented into Data Collection, Data Cataloging, Data Quality, Data Governance, Data Ingestion, and Data Curation. Based on Vertical, the market is segmented into IT & Telecom, Retail & E-commerce, BFSI, Government, Healthcare, Energy & Utilities, Transportation, Manufacturing, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Data Preparation Tools Market Analysis by Function
Based on the function, the data preparation tools market is bifurcated into data curation, data cataloging, data governance, data collection, data ingestion, and data quality. The market share that belongs to data collection is the largest because it allows users access to data from a variety of sources. Additionally, a noticeable shift in demand for the data cataloguing function is anticipated. The demand for effective cataloguing tools to analyse IoT data is anticipated to grow over the forecast period due to the ongoing rollout of IoT devices that produce large volumes of data. As a result, there is a rising need for data cataloguing. Over the forecast period, it is anticipated that the market size of the data cataloguing sub-segment will grow at the highest CAGR. Data preparation tools' data security features are expected to be more in demand as people worry more and more about their security when handling and analysing big data.
Data Preparation Tools Market Analysis by Platform
Based on platform, the data preparation tools market is segmented into self-service and data integration. The self-service category held the most market share, and throughout the projection period. Many data analytics and big data companies, including Talend and Datameer Inc., have embraced the self-service segment because it gives businesses a competitive edge. Due to their ability to guarantee simple access to data, provide higher levels of data security, and aid in data governance, self-service data preparation platforms are becoming more and more popular in the market. Additionally, the self-service platform helps organizations integrate and analyze the data gathered from IoT devices, enhancing their business intelligence. For instance, IBM and Datawatch Corporation collaborated to guarantee users of IBM Cognos Analytics and IBM Watson Analytics better and faster access to data as well as self-service data preparation.
Global Data Preparation Tools Market By Function, 2021 (%)
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Data Preparation Tools Market Regional Insights
North America is expected to control the data preparation tools market share. More than 31.76% revenue in 2021 came from North America. The increasing use of mobile computing platforms and artificial intelligence in digital shopping and e-commerce is responsible for this high share. It generates a lot of data for annotating. The Europe sub-segment, however, is quickly catching up as a result of increased investments in data analytics in regional European markets, particularly in the U.K. Cloud-based solutions are now being rolled out in Europe by a number of data preparation and analytics firms. Due to the growing popularity of the retail and e-commerce sectors in emerging countries like China and India in the Asia Pacific region, data analytics is in high demand. According to estimates, these factors will accelerate market expansion in the Asia Pacific region.
Global Data Preparation Tools Market By Geography, 2021-2028
- Largest
- Fastest
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Data Preparation Tools Market Dynamics
Data Preparation Tools Market Driver
- Unstructured data growth has been a significant challenge for many industries. As a result, businesses are looking for tools that can format data correctly. The ability to extract latent information from functional data exchange in a timely manner and a consistent format without the presence of the original author/owner of the data has been one of the benefits of data preparation tools for businesses. Making wise business decisions and aligning organizational strategic initiatives depend on timely, accurate information. The determination of which data is appropriate and who owns the data is the main concern for various departments within an organization. Establishing association rules and co-relations between various heterogeneous variables, as well as helping businesses make the most critical tactical decisions, can all be aided by timely data delivery.
- Data solutions support organizational data usage, boost analyst productivity, and enable exploratory analytics in the IT and telecom sectors. Although telecommunications providers are accustomed to working with large volumes of customer data, the extreme complexity of today's data presents a fresh set of difficulties. Vendors like IBM Corporation, for instance, have assisted numerous top telecom industry data analytics providers in redesigning their market measurement products. Processes for data integration were restructured, new, custom user interfaces were created, and workflow automation was implemented. As a result, a new product was created that offered IBM customers high-quality services while also cutting the amount of support required by 55%. Additionally, the market is growing significantly as a result of the integration of ML solutions with tools for data preparation.
Data Preparation Tools Market Restraint
- The presence of data silos, lack of knowledge, and other operational difficulties are the main factors limiting the market growth. Rising challenges in converting from traditional architecture to new technologies and systems, as well as rising data security and privacy concerns, will pose additional challenges to the data prep market in the coming years.
- Data preparation tool market is hampered by data security. Another factor that is anticipated to constrain the market for data preparation tools is the pricey initial implementation. However, the Data Preparation Tools Market faces difficulties in choosing the best cloud infrastructure partner and suitable analytical tools.
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Data Preparation Tools Market Competitive Landscape
Global data preparation tools market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Players in the Data Preparation Tools Market
- Informatica Corporation (US)
- International Business Machines Corporation (IBM) (US)
- Microsoft Corporation (US)
- MicroStrategy Incorporated (US)
- SAP SE (Germany)
- SAS Institute Inc. (US)
- Oracle Corporation (US)
- DataRobot, Inc. (US)
- Denodo Technologies (Spain)
- Hitachi Vantara Corporation (US)
- Altair Engineering Inc. (US)
- Datameer, Inc. (US)
- RedPoint Global Inc. (US)
- Sisense Inc. (US)
- Teradata Corporation (US)
- Collibra NV (Belgium)
- Ataccama Corporation (Canada)
- Tamr Inc. (US)
Data Preparation Tools Market Recent Developments
- In April 2022, Bharat Petroleum Corporation Ltd. (BPCL) and Microsoft announced a strategic cloud partnership aimed at accelerating the firm’s digital transformation and shaping the future of innovation in the oil and gas industry. The collaboration seeks to unlock the opportunities that Microsoft’s cloud provides to address the unique challenges of the oil and gas sector, enabling BPCL to accelerate the modernization of its tech architecture to enhance customer experience.
- In Jan 2022, Alteryx Announces Acquisition of Trifacta. With Trifacta, Alteryx accelerates the development of an integrated end-to-end, low code/no code analytics automation platform in the cloud
Data Preparation Tools Key Market Trends
- Extensive data generation is resulting telecom and IT companies across the globe are creating a data gold mine. These businesses are driving the adoption of data analytics due to a lack of efficient methods for analysing both structured and unstructured data to gain deeper insights into customer behaviour and the increasing demand for real-time analysis of customer preferences and service usage patterns.
Data Preparation Tools Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global data preparation tools market analysis, in terms of function the market share that belongs to data collection is the largest because it allows users access to data from a variety of sources. In terms of distribution channel, specialty stores accounted for a maximum market share followed by online retail because of customer loyalty broader variety of data preparation tools to choose from. According to the platform, the self-service category held the most market share, and throughout the projection period. Many data analytics and big data companies, including Talend and Datameer Inc., have embraced the self-service segment because it gives businesses a competitive edge.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.9 billion |
| Market size value in 2031 | USD 18.93 billion |
| Growth Rate | 16.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Data Preparation Tools Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Data Preparation Tools Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Data Preparation Tools Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Data Preparation Tools Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Data Preparation Tools Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Data Preparation Tools Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Data Preparation Tools Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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