Data Quality Tools Market Report by Data Type (Customer Data, Product Data, Financial Data, Compliance Data, and Others), Functionality (Data Validation, Data Standardization, Data Enrichment and Cleansing, Data Monitorin, and Others), Component (Software, Services), Deployment Type (Cloud-based, On-premises), Organization Size (Small and Medium Enterprises, Large Enterprises), Vertical (Banking, Financial Services and Insurance, Telecommunication and IT, Retail and E-Commerce, Healthcare and Life Science, Manufacturing, Government, Energy and Utilities, Media and Entertainment, and Others), and Region 2023-2028
The global data quality tools market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 17.8% during 2023-2028.
Data quality tools refer to various software applications that are used for analyzing datasets and converting them into meaningful information to identify and resolve problems. The tools perform functions such as data validation, standardization, monitoring, enrichment, cleansing, matching, parsing and data profiling. They are used by the organizations for processing data related to consumer behavior, products, suppliers, finances and marketing. They also aid in enhancing the accuracy, completeness and consistency of the information across various departments in the organization. Owing to this, these tools find extensive applications across various industries, including banking, financial services and insurance (BFSI), information technology (IT), telecommunications, healthcare, retail and manufacturing.
Significant growth in information technology (IT) industry is one of the key factors driving the growth of the market. Furthermore, the emerging trend of digitization across the globe, which has led to the creation of large volumes of digital business data, is also providing a boost to the market growth. In line with this, widespread adoption of data quality tools that are combined with data integration systems and mobile device management (MDM) products to create structured processes, manage tasks, track problems and maintain workflow efficiency in the organization, is also contributing to the market growth. Additionally, increasing product utilization in the healthcare and life science sectors is acting as another growth-inducing factor. Data quality tools are being increasingly used to maintain patient records, inventory, hospital systems, administration information and financial data. Apart from this, the development of cloud-based data quality tools and increasing integration with the Internet of Things (IoT) is also impacting the market growth positively.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global data quality tools market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on data type, functionality, component, deployment type, organization size and vertical.
Breakup by Data Type:
Breakup by Functionality:
Data Enrichment and Cleansing
Breakup by Component:
Breakup by Deployment Type:
Breakup by Organization Size:
Small and Medium Enterprises
Breakup by Vertical:
Banking, Financial Services and Insurance
Telecommunication and IT
Retail and E-Commerce
Healthcare and Life Science
Energy and Utilities
Media and Entertainment
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Ataccama Corporation (Adastra Corporation), Experian PLC, International Business Machines, Informatica LLC, Information Builders Inc., Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Syncsort Incorporated, Talend Inc., Tamr Inc. and Trianz Inc.
Base Year of the Analysis
Data Type, Functionality, Component, Deployment Type, Organization Size, Vertical, 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
Ataccama Corporation (Adastra Corporation), Experian PLC, International Business Machines, Informatica LLC, Information Builders Inc., Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Syncsort Incorporated, Talend Inc., Tamr Inc. and Trianz Inc.
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Key Questions Answered in This Report
The global data quality tools market was valued at US$ 1.7 Billion in 2022.
We expect the global data quality tools market to exhibit a CAGR of 17.8% during 2023-2028.
The growing adoption of data quality tools for analyzing data and converting them into meaningful information to identify and resolve problems is primarily driving the global data quality tools market.
The sudden outbreak of the COVID-19 pandemic has led to increasing application of data quality
tools, particularly in the healthcare sector, to provide high-quality and real-time data to take
appropriate decisions on potential treatments for the coronavirus-infected patients.
Based on the data type, the global data quality tools market has been bifurcated into customer data, product data, financial data, compliance data, and others. Currently, customer data accounts for the majority of the global market share.
Based on the functionality, the global data quality tools market can be segregated into data
validation, data standardization, data enrichment and cleansing, data monitoring, and others.
Among these, data validation represents the largest market share.
Based on the component, the global data quality tools market has been divided into software and services. Currently, software exhibits a clear dominance in the market.
Based on the deployment type, the global data quality tools market can be categorized into cloud- based and on-premises, where on-premises deployment currently holds the majority of the total market share.
Based on the organization size, the global data quality tools market has been segmented into small and medium enterprises and large enterprises. Currently, large enterprises represent the largest market share.
Based on the vertical, the global data quality tools market can be bifurcated into banking, financial services and insurance, telecommunication and IT, retail and e-commerce, healthcare and life science, manufacturing, government, energy and utilities, media and entertainment, and others. Among these, the banking, financial services and insurance sector accounts for the majority of the total market share.
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 quality tools market include Ataccama Corporation (Adastra Corporation), Experian PLC, International Business Machines, Informatica LLC, Information Builders Inc., Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Syncsort Incorporated, Talend Inc., Tamr Inc., and Trianz Inc.
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