Global Data Preparation Tools Market by Platform (Self-service, Data Integration), by Vertical (Retail & E-commerce, IT & Telecom, BFSI) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global data preparation tools market was valued at USD 3.08 Billion in 2020. It is expected to grow at an 18.6% compound annual growth rate (CAGR), between 2021 and 2028. Data preparation tools are used to combine data from different sources and prepare the data for analysis. Although data preparation tools have been around for some time, experts were still needed to assist. Data preparation is more popular in data-driven markets like IT and BFSI. These tools are designed to efficiently find the correct data in the most efficient way. Data preparation issues can lead to insufficient or slow results, which could hinder the decision-making process.

As organizations and enterprises adopt advanced analytics and Business Intelligence platforms (BI), the demand for self-service tools to prepare data is on the rise. Data-driven IT companies are increasingly adopting a hybrid cloud platform and self-service data prep platform.

Cloud-based data preparation tools for various data-driven applications will be in demand as a result of rising demand for data analytics. The self-service platform will be a growing focus, which is expected to increase the organization's operations and drive the demand for data preparation software. Many data-driven companies have invested in research and development to improve their data preparation market.

This technology's benefits include the ability to extract business insights from socially-shared photos and the ability to auto-organize untagged photo collections. It also provides enhanced safety features for autonomous vehicles such as condition monitoring, terrain detection and emergency vehicle detection. Data gathering has enabled machine learning to be embedded in many fields such as robotics and drones, automated website image organization, and face identification on social media sites, among others.

Platform Insights

Data integration platform was the dominant player in the market for data preparation tools and held more than 60% revenue share in 2020. The platform has sub-segmented the market into data integration and self-service. Many big data and data analytics companies, such as Talend and Datameer Inc., have adopted the self-service segment as it gives them a competitive advantage. The market is embracing self-service data preparation platforms because they can provide easy access to data, higher levels of security and better data governance.

This self-service platform helps organizations integrate and analyze data from IoT devices. IBM and Datawatch Corporation partnered together in March 2016 to provide faster access to data for users of IBM Cognos Analytics or IBM Watson Analytics.

Function Insights

Data collection was the dominant market segment and held more than 27% revenue share in 2020. The market can be sub-segmented by function into data collection and data cataloging. Due to its ability offer data access from multiple sources, the data collection segment will dominate the market.

The data cataloging function will also show a significant shift in demand. It is forecast to register a CAGR (CAGR) of 19.9% over this forecast period. Due to IoT devices generating large amounts of data, the demand for effective cataloging tools to analyze IoT information is expected to rise over the forecast period. As a result, data cataloging is in high demand. Market size for the data cataloging segment is expected to grow at the highest rate of CAGR during the forecast period. There will be an increase in demand for data security functions when analyzing big-data data.

Vertical Insights

The market was dominated by telecom and IT, which accounted for over 35% of the total revenue share in 2020. The market can be sub-segmented by vertical into IT and telecom and retail and eCommerce, BFSI and government healthcare, energy, utilities, transportation and manufacturing. These are the most data-driven industries. IT and telecom are the main users of data preparation tools. Already holding a large market share, the IT and telecom sub-segments are expected to grow at a CAGR 20.1% over the forecast period.

Data preparation tools are used primarily for retail analytics. For retail analytics, data must be collected from multiple sources and sent to different analytics firms for analysis. This process can be automated by self-service data preparation tools. The market for e-commerce and retail will experience a significant CAGR during the forecast period.

Information on Deployment

The market for data preparation tools is sub-segmented based on their deployment. In 2020, the market share for data preparation tools was more than 49%. The global market leader in this segment was on-premise. The users have control over the infrastructure and business data as well as systems that are connected to a local network.

Over the forecast period, the cloud segment will experience the greatest CAGR. Many data-driven companies are adopting a mix of cloud technologies and self-service platforms. This allows users to access both local and cloud resources, which can help them significantly increase their efficiency.

Regional Insights

North America was the dominant market, accounting for more than 36% of global revenue in 2020. This is due to the increasing integration of AI as well as mobile computing platforms into digital shopping and online commerce. This creates large amounts of data that can be annotated. The Europe sub-segment is however catching up quickly owing to growing investments in data analysis in European regional markets, especially the U.K. Many data preparation and analytical companies have begun rolling out cloud-based European solutions.

Data analytics includes data preparation. As the e-commerce and retail sectors gain momentum in these countries, data analytics is in high demand. These factors will drive the Asia Pacific market's growth.

Market Share Insights & Key Companies

It is expected that the key players will focus on expanding their product lines through product development and implementations of cutting-edge technology to make a mark in the untapped market. SAS Institute Inc. launched an innovative self-service data preparation tool in January 2018. It can increase productivity, reuseability, and analysis capabilities for enterprise users. This tool allowed the company to expand its product line and increased its market share. Some of the major market players include Alteryx, Inc., Datawatch Corporation, Informatica Corporation, International Business Machines Corporation, Microsoft Corporation, MicroStrategy Incorporated, Qlik Technologies Inc., SAP SE, SAS Institute Inc., and Tibco Software Inc. Innovative technologies and software solutions are required to prepare data for analytics, data integration, data science and data science. Innovative data preparation solutions are a key strategy for market incumbents to stay ahead of their peers. These are some of the most prominent players in the global market for data preparation tools:

• Alteryx, Inc.

• Datawatch Corporation

• Informatica Corporation

• International Business Machines Corporation

• Microsoft Corporation

• MicroStrategy Incorporated

• Qlik Technologies Inc.

• SAP SE

• SAS Institute Inc.

• Tibco Software Inc.

Up Market Research published a new report titled “Data Preparation Tools Market research report which is segmented by Platform (Self-service, Data Integration), by Vertical (Retail & E-commerce, IT & Telecom, BFSI), By Players/Companies International Business Machines Corporation, SAP SE, MicroStrategy Incorporated, Informatica Corporation, Qlik Technologies Inc, SAS Institute Inc, Datawatch Corporation, Microsoft Corporation, Tibco Software Inc, Alteryx Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Data Preparation Tools Market Report Segments:

The market is segmented by Platform (Self-service, Data Integration), by Vertical (Retail & E-commerce, IT & Telecom, BFSI).

Some of the companies that are profiled in this report are:

1. International Business Machines Corporation
2. SAP SE
3. MicroStrategy Incorporated
4. Informatica Corporation
5. Qlik Technologies Inc
6. SAS Institute Inc
7. Datawatch Corporation
8. Microsoft Corporation
9. Tibco Software Inc
10. Alteryx Inc

Data Preparation Tools Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Data Preparation Tools Market

Overview of the regional outlook of the Data Preparation Tools Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Data Preparation Tools Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Data Preparation Tools Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Self-service

                2. Data Integration

                1. Retail & E-commerce

                2. IT & Telecom

                3. BFSI

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Data Preparation Tools Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Data Preparation Tools Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.