Dublin, April 10, 2019 (GLOBE NEWSWIRE) -- The "Global Data Preparation Market - Segmented by Deployment Type, Enterprise Size, End User Vertical and Region - Growth, Trends and Forecasts (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The data preparation market was valued at USD 1.78 billion in 2017, and is expected to witness a CAGR of 22.7% during the forecast period (2018-2023), to reach USD 6.06 billion by 2023.
The companies are demanding fast debugging time to generate meaningful insights to sustain in the market, owing to digital disruption. As a result, the requirement for analytics, particularly data analytics, is becoming pervasive across various sizes of organizations.
The data analytics professionals and companies are finding difficulties in driving insights, owing to rising complexities in the procurement of data. The data collected is usually unstructured or semi-structured, which requires being in the uniform format for maximum yield and efficiency.
In response to this problem, companies are devoting more or maximum time in data preparation to generate and have clean data to perform analytics. According to Oracle, it is estimated that approximately 90% of the time is invested for data preparation in the chain of data analytics.
Rising Complexity of Data Structures
The increasing volume of unstructured and semi-structured data can be attributed to diverse data sources that require data preparation as a vital process, which is likely to foster market growth. Additionally, the complex data is required to have precise data cleaning to extract meaningful insights from the same, which is expected to propel the market growth over the next six years.
Cloud to Exhibit the Highest Growth
The deployment of data preparation tools over cloud offers various advantages over on-premise, including scalability and flexibility. Companies, such as Google, are moving toward the adoption of cloud-based tools, owing to enhanced flexibility of the same. In September 2017, Google introduced a beta version of public cloud data prep, which is likely to compel similar industry players to enter into the market which is, in turn, expected to fuel the market growth over the forecast period.
Asia-Pacific to Witness the Highest Growth
There is a rise in crimes reported in the BFSI sector in India, leading to financial sectors rapidly adopting fraud detection techniques to prevent the same. These techniques predict the fraud(s) based on the big data generated from users and previous data, which require an intense amount of data preparation, thereby showing a positive impact on the market in Asia-Pacific.
Major Players
- Microsoft Corporation
- Tableau Software Inc.
- Qlik Technologies Inc.
- SAP SE
- IBM
- SAS Institute
- Alteryx Inc.
- Cambridge Semantics
- Talend
Topics Covered
1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Data Preparation Market Research Approach and Methodology
3. Executive Summary
4. Data Preparation Market Dynamics
4.1 Data Preparation Market Overview
4.2 Industry Value Chain
4.3 Factors Driving the Data Preparation Market
4.3.1 Rising Complexity of Data Structures
4.3.2 Growing Requirement for Analytics
4.4 Factors Restraining the Data Preparation Market
4.4.1 Lack of Awareness and Complexity in Data Gathering
4.5 Industry Attractiveness - Porter's Five Industry Forces Analysis
4.6 Technology Snapshot
5. Data Preparation Market Segmentation
5.1 Data Preparation Market by Deployment Type
5.1.1 On-premise
5.1.2 Cloud
5.2 Data Preparation Market by Enterprise Size
5.2.1 SMEs and Mid-Sized
5.2.2 Large Enterprise
5.3 Data Preparation Market by End-User Vertical
5.3.1 BSFI
5.3.2 Healthcare
5.3.3 Retail
5.3.4 Manufacturing
5.3.5 IT and Telecommunication
5.3.6 Other End-user Verticals
5.4 Data Preparation Market by Geography
5.4.1 North America Data Preparation Market Size
5.4.2 Europe Data Preparation Market Size
5.4.3 Asia-Pacific Data Preparation Market Size
5.4.4 Latin America Data Preparation Market Size
5.4.5 Middle East & Africa Data Preparation Market Size
6. Competitive Intelligence - Company Profiles
6.1 Microsoft Corporation
6.2 Tableau Software Inc.
6.3 Qlik Technologies Inc.
6.4 SAP SE
6.5 Informatica
6.6 IBM Corporation
6.7 SAS Institute
6.8 Alteryx Inc.
6.9 Rapid Insight
6.10 Lavastorm Analytics Inc.
6.11 ClearStory Data Inc.
6.12 Cambridge Semantics Inc.
6.13 Talend Inc.
*List Not Exhaustive
7. Investment Analysis
8. Opportunities in Global Data Preparation Market
For more information about this report visit https://www.researchandmarkets.com/r/vjza7y