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Data Prep Market Size to Rapid Growth and Forecast till 2026| ClearStory Data Inc., Oracle, Lavastorm Analytics Inc., QlikTech International AB

Global Data Prep Market

This Global Data Prep Market report gives clear idea about the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, possible future trends, and market demand and supply scenarios. Competitive analysis is the foremost feature of any market research report, and hence Data Prep Market report covers many points including strategic profiling of key players in the market, analyse core competencies of key players, and draw a competitive landscape for the ICT industry. Different components which are in charge of market development has been analyzed clearly in this market report.

Global Data Prep Market is expected to rise from its initial estimated value of USD 3.38 billion in 2018 to an estimated value of USD 21.48 billion by 2026, registering a CAGR of 26.00% in the forecast period of 2019-2026. This rise in market value can be rising need for adhering to regulatory and compliance requirements.

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Some of the major competitors currently working in the data prep market are Microsoft Corporation (US), IBM Corporation (US), TIBCO Software Inc. (US), SAP SE (Germany), SAS Institute Inc. (US), Alteryx, Inc. (US), Informatica (US), Altair Engineering, Inc. (US), Talend (US), TABLEAU SOFTWARE (US), QlikTech International AB (Sweden), Microstrategy Inc.(US), Rapid Insight Inc. (US), Unifi Software Inc.(US), First Data Corporation (US), Paxata Inc.(US), Trifacta Software Solutions, Inc. (US), ClearStory Data Inc.(US), Oracle (US), Lavastorm Analytics Inc.(US), and others.

Market Definition:

Data prep is the process of collecting data into one data, for use in analysis. One of the primary purposes of data prep is to ensure that information generated for analysis is accurate and consistent. The crucial part of data prep is to correct inaccuracies. It has its wide application in banking, financial services, and insurance, government, healthcare, retail and e-commerce, manufacturing, energy and utilities, transportation, IT and telecommunication, and others. Increasing importance of on-time qualified data and rising need for adhering to regulatory and compliance requirements may act as the major driver in the growth of data prep market. On the other side, lack of awareness & expertise and other operational challenges may hamper the market.

Market Drivers:

  • Rising need for adhering to regulatory and compliance requirements that are expected to drive the market growth.
  • There is Increase in importance of on-time qualified data is expected to drive the market growth.
  • Benefits of streamlined business operations is driving the market
  • Data prep tools help companies in predictive business analytics is also expected to drive the market growth.

Market Restraints:

  • There is lack of awareness and skilled workforce in Data prep. this is also expected to act as a restraint to the market growth.

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Segmentation: Global Data Prep Market

By Platform

  • Self-Service Data Prep
  • Data Integration

By Tool

  • Data Curation
  • Data Cataloging
  • Data Quality
  • Data Ingestion
  • Data Governance

By Enterprise Size

  • SMEs and Mid Sized
  • Large Enterprise

By Deployment Model

  • Hosted
  • On-Premise

By Vertical

  • Banking, Financial Services, and Insurance
  • Government
  • Healthcare
  • Retail and E-Commerce
  • Manufacturing
  • Energy and Utilities
  • Transportation
  • IT and Telecommunication
  • Others

By Geography

  • North America
  • South America
  • Europe
  • Asia-Pacific
  • Middle East and Africa

Key Developments in the Market:

  • In Sep 2018,Trifacta launched Google Cloud Dataprep. Trifacta, the global leader in data preparation, this technology has accelerated the productivity of analysts on GCP, allowing them to prepare and analyze data within the same environment.
  • In April 2018, Tableau announces two new data prep and subscription offering products. Tableau’s new tailored offering is designed to deliver more value, which will give full analytics capabilities to analysts and power users.

Key Insights in the report:

  • Complete and distinct analysis of the market drivers and restraints
  • Key market players involved in this industry
  • Detailed analysis of the market segmentation
  • Competitive analysis of the key players involved

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