According to the latest report by IMARC Group, titled "Data Wrangling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global data wrangling market size reached US$ 2.6 Billion in 2022. Data wrangling, also known as data cleaning or data preprocessing, is the process of transforming raw data into a format that is easier and more suitable for analysis. It involves a series of steps, such as identifying and correcting errors, handling missing data, formatting data into a consistent structure, and merging multiple data sources into a single dataset. It is a crucial step in the data analysis process, as it helps to ensure the accuracy, completeness, and consistency of the data. Without proper data wrangling, the analysis results can be misleading or even incorrect, leading to poor decision-making. Some common data wrangling techniques include using regular expressions to extract patterns from text data, using data visualization to identify outliers or anomalies in the data, and using machine learning algorithms to impute missing data or classify data into categories.
Global Data Wrangling Market Trends:
The global market is primarily driven by the widespread demand for data wrangling across the corporate sector. This can be attributed to the increasing amount of data generation on account of rapid digitization and the penetration of high-speed internet connectivity. With the rise of the internet of things (IoT), social media, and other digital technologies, various organizations are collecting more data than ever before, which is impelling the demand for data wrangling as it helps to process, clean, and transform this data into a usable format for analysis. Along with this, the rising need for superior data quality in order to make accurate decisions is catalyzing the overall data wrangling market across the globe. Moreover, continual technological advancements and the integration of cloud computing with data wrangling tools to process and analyze large amounts of data without the need for significant investments in hardware and software are creating a positive market outlook. Furthermore, the growing need to adhere to regulatory requirements in order to survive in the dynamic business environment is significantly supporting the demand for data wrangling. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.5 Billion by 2028, exhibiting a CAGR of 16.6% during 2023-2028.
- On the basis of the component, the market has been categorized into solution and service.
- Based on the deployment mode, the market has been segmented into on-premises and cloud-based.
- On the basis of the organization type, the market has been bifurcated 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 segmented 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, 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 the key 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.
|Base Year of the Analysis
||Component, Deployment Mode, Organization Size, Business Function, Industry 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
||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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