The global data preparation market size reached US$ 4.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.7 Billion by 2028, exhibiting agrowth rate (CAGR) of 18.3% during 2023-2028.
Data Preparation Market Size in 2022
US$ 4.6 Billion
Data Preparation Market Forecast in 2028
US$ 13.7 Billion
Data Preparation Market Growth Rate 2023-2028
Data preparation refers to the process of exploring, combining, organizing, and structuring raw data into curated datasheets. It is mainly used for self-service data integration, science and discovery, and business purposes. It provides consistent and high-quality data to organizations for maximizing their intelligence potential. It assists in standardizing data formats, enriching source data, and removing outliers. As it also aids in making better business decisions, improving data quality, and fixing errors, it finds extensive applications during mergers and acquisitions (M&A) activities worldwide.
Data Preparation Market Trends:
Presently, there is a considerable rise in the volume of data generated by different organizations. This, in confluence with the growing need for profound insights and analysis of consumer behavior and their preferences in real-time, represents one of the key factors catalyzing the demand for data analytics software around the world. Data preparation ensures easy interchangeability, collaboration, and profiling of data. Moreover, as it empowers exploratory analytics, increases analyst productivity, and improves organizational data usage, its application is increasing, especially among telecom, information technology (IT) and retail sectors. Apart from this, the rapid adoption of automation and cloud technologies in enterprises is also contributing to market growth. Furthermore, leading market players are integrating advanced technologies, such as artificial intelligence (AI) and machine learning (ML), with data preparation to read, interpret, and flatten complex data structures. They are also focusing on establishing standards and guidelines for security and their ability to track data lineage and usage, which is creating a favorable market outlook. Besides this, the spread of coronavirus disease (COVID-19) is positively influencing the demand for data preparation software to maintain large datasheets of previous trials and track records of affected patients.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global data preparation market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on platform, tools, deployment model, enterprise size and end user.
Breakup by Platform:
Breakup by Tools:
Breakup by Deployment Model:
Breakup by Enterprise Size:
Small and Medium-sized Enterprises (SMEs)
Breakup by End User:
Retail and E-Commerce
Energy and Utilities
IT and Telecommunication
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Altair Engineering Inc., Alteryx Inc., Informatica, International Business Machines Corporation, Microsoft Corporation, MicroStrategy Incorporated, Oracle Corporation, Qlik, SAP SE, SAS Institute Inc., Tableau Software LLC (Salesforce.com Inc.) and TIBCO Software Inc.
Base Year of the Analysis
Platform, Tools, Deployment Model, Enterprise Size, End User, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Altair Engineering Inc., Alteryx Inc., Informatica, International Business Machines Corporation, Microsoft Corporation, MicroStrategy Incorporated, Oracle Corporation, Qlik, SAP SE, SAS Institute Inc., Tableau Software LLC (Salesforce.com Inc.) and TIBCO Software Inc.
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Key Questions Answered in This Report
The global data preparation market was valued at US$ 4.6 Billion in 2022.
We expect the global data preparation market to exhibit a CAGR of 18.3% during 2023-2028.
The rising integration of advanced technologies, such as Artificial Intelligence (AI) and Machine Learning (ML), with data preparation as they aid to read, interpret, and flatten complex data structures, is primarily driving the global data preparation market.
The sudden outbreak of the COVID-19 has led to the growing adoption of data preparation software for maintaining large datasheets of previous trials and track records of the coronavirus infected patients.
Based on the platform, the global data preparation market can be bifurcated into self-service and data integration. Currently, self-service holds the majority of the total market share.
Based on the tools, the global data preparation market has been segmented into data collection, data cataloguing, data quality, data governance, data ingestion, and data curation. Among these, data collection currently exhibits a clear dominance in the market.
Based on the deployment model, the global data preparation market can be divided into on-premises and cloud-based. Currently, on-premises account for the largest market share.
Based on the enterprise size, the global data preparation market has been segregated into Small and Medium-sized Enterprises (SMEs) and large enterprises, where large enterprises currently hold the majority of the global market share.
Based on the end user, the global data preparation market can be categorized into BFSI, healthcare, retail and e-commerce, manufacturing, energy and utilities, IT and telecommunication, transportation, and others. Currently, IT and telecommunication exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global data preparation market include Altair Engineering Inc., Alteryx Inc., Informatica, International Business Machines Corporation, Microsoft Corporation, MicroStrategy Incorporated, Oracle Corporation, Qlik, SAP SE, SAS Institute Inc., Tableau Software LLC (Salesforce.com Inc.), and TIBCO Software Inc.
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