Data Preparation Tools Market Competitive Landscape | Price Trends Overview | Regional Demand Analysis

Felton, Calif., USA, Feb. 11, 2021 — /EPR Network/ —

The global Data Preparation Tools Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

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%.

Key Players:

• Alteryx, Inc.
• Datawatch Corporation
• Informatica Corporation
• International Business Machines Corporation
• Microsoft Corporation
• MicroStrategy Incorporated
• Qlik Technologies Inc.
• SAP SE
• SAS Institute Inc.

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Growth Drivers:

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.

Function Outlook:

• Data collection
• Data cataloging
• Data quality
• Data governance
• Data ingestion
• Data curation

Vertical Outlook:

• IT and Telecom
• Retail and E-commerce
• BFSI
• Government
• Healthcare
• Energy and Utilities
• Transportation
• Manufacturing

Regional Outlook:

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.

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