Global Data Prep Market, By Platform (Self-Service Data Prep, Data Integration), Tool (Curation, Cataloging, Quality, Ingestion, Governance), Deployment Model (Hosted, On-Premise), Organization Size (SMEs and Mid-Sized, Large Enterprise), Vertical (Banking, Financial Services, and Insurance, Government, Healthcare, Retail and E-Commerce, Manufacturing, Energy and Utilities, Transportation, IT and Telecommunication, Others) – Industry Trends and Forecast to 2030.
Data Prep Market Analysis and Size
The preparation, gathering and labelling of raw data into a proper format for machine learning algorithms, followed by data visualization and exploration, are important phases. Nowadays, there are many data prep on the market, before there is a high demand for professional help. Data prep is more extensively accepted in data-driven industries such as BFSI and IT. These technologies' main aim is to proficiently locate the suitable data at the appropriate time.
Data Bridge Market Research analyses that the data prep market is expected to reach USD 54.49 billion by 2030, which is USD 8.31 billion in 2022, at a CAGR of 26.50% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Data Prep Market Scope and Segmentation
2023 to 2030
2021 (Customizable to 2015 - 2020)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Platform (Self-Service Data Prep, Data Integration), Tool (Curation, Cataloging, Quality, Ingestion, Governance), Deployment Model (Hosted, On-Premise), Organization Size (SMEs and Mid-Sized, Large Enterprise), Vertical (Banking, Financial Services, and Insurance, Government, Healthcare, Retail and E-Commerce, Manufacturing, Energy and Utilities, Transportation, IT and Telecommunication, Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
IBM (U.S.), TIBCO Software Inc. (U.S.), SAP (Germany), Microsoft (U.S.), Oracle (U.S.), SAS Institute Inc., (U.S.), ALTERYX, INC. (U.S.), Altair Engineering Inc. (U.S.), TIBCO Software Inc. (U.S.), EAB. (U.S.), QlikTech International AB (Sweden), DataRobot Inc., (U.S.), MICROSTRATEGY INCORPORATED (U.S.), TABLEAU SOFTWARE, LLC, (U.S.), Informatica (U.S.), Talend (U.S.)
Data prep is the procedure of collecting, cleaning, and consolidating the data into one data table or file mainly for analysis. It is a process which involves numerous different tasks that cannot be completely automated. Many of the data preparation activities are boring, dull, and time-consuming Data prep improves the quality of data and also helps to increase the quality of the data mining results.
Data Prep Market
- High usage of data prep in retail sector
The growth and expansion of retail sector is anticipated to register a significant growth in the global data prep market during the forecast period. Retail analytics is a major area in which data prep is highly used. Retail analytics requires data to be collected from different input sources and then supplied to numerous analytics firms for analysis. Therefore, high usage of data prep in retail sector is likely to boost the market growth in this region.
- Increasing volume of business data
The staggering volume of data generated through various businesses and organizationsgenerated through various businesses and organizations increased the demand for advanced technologies such as data prep. Data prep will help the business and organizations to efficiently process information. Therefore, data prep is gaining traction because analyzing such voluminous data becomes an important operation. Therefore, increasing business data volume will likely drive market growth.
- Surging product launches by major market players in data prep market
Surging product launches and other advanced innovations by major market players will create numerous opportunities for the growth of the market. For instance, SAS Institute Inc. introduced an innovative and self-service data preparation tool that can increase enterprise users' reusability, productivity, and analytical capabilities in January 2018. This new launch helped the company to increase its market share and improve its product portfolio.
- Increasing strategic investment by major market players
Growing strategic investment by major market players will further generate numerous opportunities for the growth of the market. For instance, Alteryx, Inc., an Analytics Automation company, has announced a strategic investment in MANTA, the data lineage company, in 2022. MANTA allows businesses to achieve complete prominence in most complex data environments. With this investment, the company can expand its partner ecosystem, boost product innovation, and grow in key markets.
- Multiple issues associated with associated with data prep
Lack of awareness and expertise regarding data prep and increasing presence of data silos are some of the major factors among others restraining the market growth. Furthermore, increasing difficulties in shifting from traditional architecture to new systems and technologies and increasing data privacy and security concerns will challenge the growth of the data prep market in the forecast period of 2023-2030.
This data prep market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the data prep market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
- In 2022, Qlik introduced Enterprise Integration Platform n to boost enterprise data strategies through a real-time data integration fabric which connects all enterprise data sources and applicationsto the cloud. This new data integration platform joins cataloging capabilities and data preparation in one place and allowing enterprises to ready their data in real-time for analysis.
- In 2022, Alteryx, Inc., announced their acquisition with Trifacta. With this, acquisition, they will make data analytics more intuitive and faster. By acquiring Trifacta, the company aims to use its advanced cloud platform to aid customers make a robust data pipeline with more preparation capabilities and significant profiling.
- In 2021, Talend announced its new innovations to offer data professionals with high-performance integration tools to leading collaborative data governance capabilities, cloud intelligence platforms, and private connections between Amazon AWS and Microsoft Azure to ensure data security.
- In 2020, Tableau Software announced the launch of Tableau 2020.4, which streamlines the enterprise-wide data preparation and bringing the complete collection of Tableau Prep capabilities to browser on Tableau Server and Tableau Online.
Global Data Prep Market Scope
The data prep market is segmented on the basis of platform, tool, deployment model, organization size and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Self-Service Data Prep
- Data Integration
- SMEs and Mid-Sized
- Large Enterprise
- Banking, Financial Services, and Insurance
- Retail and E-Commerce
- Energy and Utilities
- IT and Telecommunication
Data Prep Market Regional Analysis/Insights
The data prep market is analyzed and market size insights and trends are provided by country, platform, tool, deployment model, organization size and vertical as referenced above.
The countries covered in the data prep market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the data prep market in terms of revenue and market owing to the rising number of enterprises and increasing importance of on-time qualified data in this region.
Asia-Pacific and Europe will continue to project the highest compound annual growth rate during the forecast period of 2023-2030 because of growth and expansion e-commerce and retail sectors and rising investments in data analytics in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Data Prep Market Share Analysis
The data prep market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to data prep market.
Some of the major players operating in the data prep market are:
- IBM (U.S.)
- TIBCO Software Inc. (U.S.)
- SAP (Germany)
- Microsoft (U.S.)
- Oracle (U.S.)
- SAS Institute Inc., (U.S.)
- ALTERYX, INC. (U.S.)
- Altair Engineering Inc. (U.S.)
- TIBCO Software Inc. (U.S.)
- EAB. (U.S.)
- QlikTech International AB (Sweden)
- DataRobot Inc., (U.S.)
- MICROSTRATEGY INCORPORATED (U.S.)
- TABLEAU SOFTWARE, LLC, (U.S.)
- Informatica (U.S.)
- Talend (U.S.)