Data Preparation Market

Market Overview:

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 a growth rate (CAGR) of 18.3% during 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:

• Self-Service
• Data Integration
   

Breakup by Tools:

• Data Collection
• Data Cataloguing
• Data Quality
• Data Governance
• Data Ingestion
• Data Curation
   

Breakup by Deployment Model:

• On-premises
• Cloud-based
   

Breakup by Enterprise Size:

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises
   

Breakup by End User:

• BFSI
• Healthcare
• Retail and E-Commerce
• Manufacturing
• Energy and Utilities
• IT and Telecommunication
• Transportation
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

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.

Report Coverage: