According to the latest report by IMARC Group, titled “Data Preparation Market Growth: Global Industry Trends, Share, Size, Opportunity and Forecast 2021-2026,” the market to grow at a CAGR of around 21% during 2021-2026.
Data preparation is the process of analyzing, structuring, combining, and organizing raw data into curated datasheets. It is commonly utilized for self-service data integration, science and discovery, business purposes, etc. Data preparation ensures consistent and high-quality data to organizations for optimizing data usage, interchangeability, collaboration, profiling, etc. It aids in standardizing data formats, enriching source data, and removing outliers. As a result, data preparation helps in making better business decisions, enhancing data quality, fixing errors, etc. These processes find extensive applications during mergers and acquisitions (M&A) activities across the globe.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Data Preparation Market Trends:
The growing volumes of data generated by various organizations, coupled with the escalating demand for real-time insights into consumer behavior and preferences, are currently driving the data preparation market. Additionally, the rising adoption of automated solutions in data preparation systems is further augmenting the global market. In line with this, the increasing integration of advanced technologies, such as machine learning (ML) and artificial intelligence (AI), to interpret, read, and flatten complex data structures, is also catalyzing the product demand. Moreover, the sudden outbreak of the COVID-19 pandemic is elevating the demand for data preparation software to maintain large datasheets of the track records of affected patients and vaccinated individuals, which is bolstering the market growth. In the coming years, the rising demand for data analytical software by organizations to explore analytics, increase analyst productivity, and improve organizational data usage, is expected to fuel the data preparation market across the globe.
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Data Preparation Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the basis on region, disc type, material type and end user.
Breakup by Platform:
Breakup by Tools:
Breakup by Deployment Model:
Breakup by Enterprise Size:
Breakup by End User:
Breakup by Region:
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Key highlights of the report:
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