Market
Synopsis
The global data quality tool market is evaluated thoroughly,
and the evaluation has established that the data quality tool market is
anticipated to hold a substantial value of USD 1539 million, expanding at a
CAGR of 16% during the assessment period. The enlarging volume of business data
is projected to be the most imperative factor driving the global data quality
tool market 2020. Besides, the growing demand for the betterment of performance
of data is anticipated to play an important role in market strengthening.
Further, increasing regulatory pressure is another factor leading to market
expansion. The report also casts light on elements such as the surge in artificial
intelligence for data quality is estimated to fuel the market additionally. It
is to be noted here that the increasing speed of data accumulation is another
factor leading to market expansion during the assessment period from 2017 to
2023. Several enterprises are making massive investments in data quality tools
for comprehending the customer demands efficiently, and thereby making the
service quality superior.
However,
security threats and insufficient knowledge are likely to control the market
expansion of the global data quality tool market. Besides, the market dynamics
have changed considerably due to disruption pf COVID-19. The data experts at
Market Research Future Reports (MRFR) are evaluating the aftermath of COVID-19.
We will provide an impact analysis report on COVID-19.
Market
Segmentation
The global data
quality tool market can be distinguished on the grounds of data type,
component, vertical, deployment, organization size, and geography.
On the grounds
of data type, the global data quality tool market can be segmented into product
data, supplier data, consumer data, financial data, and others.
On the grounds
of component, the global data quality tool market can be segmented into
services and solutions.
On the grounds
of vertical, the global data quality tool market can be segmented into retail,
healthcare, media and entertainment, BFSI, manufacturing, government,
education, energy, and others.
On the grounds
of deployment, the global data quality tool market can be segmented into
on-premises and on-demand.
On the grounds
of organization size, the global data quality tool market can be segmented into
small, medium, and large.
On the grounds
of geography, the global data quality tool market can be segmented into North
America, Asia-Pacific, Europe, and the Rest of the World (RoW).
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Regional
Analysis
The global
market is projected to grow generously during the assessment period. A thorough
geographical evaluation of North America, Asia-Pacific, Europe, and the Rest of
the World (RoW) has been carried out. As per the research, the market is likely
to be led by North America. North America is estimated to seize the largest
market share. The phenomenal expansion of data in the region is likely to make
the market environment lucrative and potent. Also, the adoption of developed
technologies like the Internet of Things, strict data regulation, and the
establishment of robust vendors is likely to augment the market presence. The
APAC region is projected to acquire a phenomenal expansion during the
assessment period. The magnifying reach and innovation of technical solutions,
along with the growing demand for digitization is anticipated to convert the
market into a more robust market.
Key
Players
The most
renowned players of the global data quality market are Microsoft Corporation
(US), SAP SE (Germany), IBM Corporation (US), SAS Institute Inc. (US), Experian
Data Quality (US), Informatica Corporation (US), Information Builder (US),
Pitney Bowes (US), Oracle Corporation (US), Talend (US), Tamr (US), Syncsort
(US), Trianz (US), and a few others.
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