According to the latest report by IMARC Group, titled "Data Wrangling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global data wrangling market reached a value of US$ 2.2 Billion in 2021. Data wrangling refers to the method of cleaning and managing complex data sets for easy analysis and access. It assists in mapping and converting a raw form of data that allows easy visualization and convenient consumption of the data. Over the years, there has been a significant rise in the adoption of advanced analytics algorithms to manage large volumes of unstructured and diverse data, which is providing an impetus to the market growth across the globe. Additionally, continual advancements in edge computing are also creating lucrative growth opportunities for key players operating in the data wrangling market.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Data Wrangling Market Trends:
The global market is primarily driven by a substantial increase in data generation across multiple sectors. Supported by rapid digitization and easy access to web platforms across the globe, this has encouraged numerous businesses to heavily invest in the deployment of data wrangling solutions for enriching and re-structuring raw data into the desired format in order to attain better results. Moreover, continual technological advancements and the integration of artificial intelligence (AI) with data wrangling solutions are impacting the market growth favorably. Additionally, the rapid outbreak of coronavirus disease (COVID-19) that has led to the increasing adoption of remote working models is creating a positive market outlook. In addition to this, the rising adoption of the solution across the e-commerce industry for delivering real-time recommendations to consumers while improving their overall experience is acting as a major growth-inducing factor. Other factors, including intensive business competition, continuous improvements in the information technology (IT) infrastructure and extensive research and development (R&D) activities conducted by key players, are further influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 5.5 Billion by 2027, exhibiting a CAGR of 16.7% during 2022-2027.
- On the basis of the component, the market has been bifurcated into solutions and services.
- Based on the deployment mode, the market has been segregated into on-premises and cloud-based.
- On the basis of the organization size, the market has been segmented into large and small and medium enterprises.
- Based on the business function, the market has been classified into finance, marketing and sales, operations and human resources.
- On the basis of the industry vertical, the market has been categorized into BFSI, government and public sector, healthcare and life science, retail and e-commerce, media and entertainment, IT and telecom, manufacturing and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include ALTERYX INC., Altair Engineering Inc., Hitachi Vantara Corporation, Impetus Technologies Inc., International Business Machines Corporation, Oracle Corporation, SAS Institute Inc., Teradata Corporation, TIBCO Software Inc and Trifacta Software Inc.
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