westford,USA, Aug. 25, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the escalating need for data analytics is projected to significantly boost the requirement for cloud-based data preparation tools across diverse data-centric applications. Moreover, an increasing emphasis on self-service platforms is predicted to elevate organizational efficiency, consequently driving the requisition for data preparation tools. The growing enterprise demand for advanced analytics has spurred numerous data-focused entities to allocate resources for research and development in the field of data preparation, contributing to the progressive expansion of the data preparation tools market.
Browse in-depth TOC on the "Data Preparation Tools Market"
- Pages - 260
- Tables - 123
- Figures – 77
Data preparation tools market is a notable upswing in adopting this technology, primarily attributable to its advantages. These include the extraction of valuable business insights sourced from images shared on social platforms, as well as the automated organization of untagged photo collections.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 4.63 Billion |
| 2030 Value Projection | USD 15.62Billion |
| CAGR | 18.6% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Data Preparation ToolsMarket
- Alteryx, Inc.
- IBM Corporation
- Informatica LLC
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- Talend, Inc.
- TIBCO Software Inc.
- Datawatch Corporation
- Tableau Software, Inc.
- Paxata, Inc.
- Trifacta, Inc.
- Alation Inc.
- Tamr Inc.
- Unifi Software, Inc.
- RapidMiner, Inc.
- Zaloni, Inc.
- Talend, Inc.
- DataRobot, Inc.
- Hitachi Vantara LLC
IT and Telecom Segment is Expected to Grow in the Market Due to Distinct Categories
IT and telecom sectors asserted dominance over the data preparation tools market, collectively contributing to over 35% of the total revenue share. The market segmentation based on verticals reveals a comprehensive breakdown into distinct categories. These encompass IT and telecom, retail and e-commerce, BFSI (banking, financial services, and insurance), government, healthcare, energy, utilities, transportation, manufacturing, and other sectors.
The markets in North America are poised to assert a substantial presence in the data preparation tools market landscape. Several vital factors primarily underpin this projection. The region's significant market share is attributed to its robust investments in cloud-based solutions, data analytics, and data-centric technologies.
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On-Premise Segment is Expected to Dominate the Market Due tothe Inherent Advantages
On-premise segment emerged as the dominant force in the data preparation tools market commanding a substantial revenue share. The prominence of on-premise deployment of services can be attributed to its inherent advantages. This approach empowers users with heightened control over their systems, infrastructure, and crucial business data.
Regional markets in the Asia-Pacific are poised to experience the most rapid growth throughout the forecast period. This dynamic expansion can be attributed to several driving forces. The escalating population of smartphone users, coupled with substantial demand from the burgeoning internet user base in countries such as China and India, is a significant catalyst for the surge in demand for data preparation tools market.
A comprehensive analysis of the major players in the data preparation tools market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative businesspolicies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Data Preparation ToolsMarket
- In 2022, a significant announcement was made as Bharat Petroleum Corporation Ltd. (BPCL) joined forces with Microsoft to establish a strategic cloud partnership. This dynamic collaboration is designed with a clear objective: to expedite BPCL's digital transformation journey and pave the way for pioneering innovation within the oil and gas industry.
- In 2022, a pivotal move was made by Alteryx with the announcement of its acquisition of Trifacta. This strategic maneuver expedites the progress of an all-encompassing, cloud-based analytics automation platform that seamlessly integrates end-to-end functionalities while embracing a low-code/no-code approach.
Key Questions Answered in Data Preparation Tools Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these
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