Data Preparation Tools Global Market Report 2024

The data preparation tools market size has grown exponentially in recent years. IT will grow from $6.36 billion in 2023 to $7.79 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%. The expansion observed in the historic period stems from several factors, including the rising complexity of data formats and sources necessitating advanced tooling, the proliferation of Data Preparation as a Service (DPaaS) offerings, utilization of data virtualization technology in preparation processes, the emergence of industry-specific data preparation solutions, and the adoption of federated learning approaches for distributed data preparation tasks.

The data preparation tools market size is expected to see exponential growth in the next few years. IT will grow to $17.78 billion in 2028 at a compound annual growth rate (CAGR) of 22.9%. The anticipated expansion in the forecast period is driven by several factors, such as the adoption of edge AI for on-device data preparation tasks, increasing utilization of AI and machine learning for data preparation, growing demand for self-service data preparation tools, rising emphasis on data quality and governance in preparation processes, and the need for real-time data preparation capabilities.

The burgeoning volume of data is poised to drive the expansion of the data preparation tools market. Data, encompassing raw facts and figures collected for analysis, is witnessing rapid growth propelled by increased digitalization, technological advancements, and the proliferation of connected devices. This surge necessitates the use of data preparation tools to efficiently clean, transform, and organize data for analysis, given the complexity and scale of handling large datasets. For instance, a report by the Linux Foundation in December 2022 revealed significant data growth trends, with average end-user organizations experiencing substantial annual increases in data storage capacity. The data growth witnessed underscores the critical role of data preparation tools in managing and harnessing the vast amounts of data generated.

Leading companies in the data preparation tools market are prioritizing the development of innovative technologies to streamline data processing tasks. One such advancement is SnapGPT, a generative AI tool introduced by SnapLogic in August 2023. SnapGPT leverages artificial intelligence to facilitate the creation of data pipelines more efficiently, offering a faster and more intuitive approach to integration tasks. Equipped with features such as text recognition, image recognition, speech-to-text capabilities, and fast integration prototyping, SnapGPT empowers users to generate accurate queries and transform data seamlessly across various formats. This integration of AI-driven capabilities with user-friendly functionalities enhances the efficiency and effectiveness of data integration workflows, addressing the evolving needs of data-driven organizations.

In February 2022, Alteryx Inc. bolstered its presence in the data preparation tools market by acquiring Trifacta Inc. This acquisition underscores Alteryx's commitment to facilitating cloud-based analytics solutions and providing versatile deployment options tailored to enterprise users' diverse analytics needs. Trifacta Inc., renowned for its expertise in cloud data engineering and data preparation tools, aligns with Alteryx's vision of empowering organizations with robust data analytics capabilities in the cloud environment.

Major companies operating in the data preparation tools market are Amazon Web Services Inc., Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce.com Inc., SAS Institute Inc., Hitachi Vantara Corporation, Teradata Corporation, Informatica Inc., Tibco Software Inc., Zoho DataPrep, Quest Software Inc., Alteryx Inc., Rapid Insight Inc., QlikTech International AB, Altair Engineering Inc., Micro Strategy Incorporated, DataRobot Inc., Dataiku Inc., Datawatch Corporation, Unifi Software Inc, Datameer Inc., InfluxData Inc.

North America was the largest region in the data preparation tools market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data preparation tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the data preparation tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Data preparation tools are software solutions engineered to streamline the collection, cleansing, and transformation of raw data into a usable format for analysis and reporting. By automating manual tasks and improving data quality, these tools empower organizations to extract valuable insights efficiently.

Data preparation tools primarily operate on self-service and data integration platforms. Self-service platforms empower users to independently cleanse, transform, and analyze data without extensive technical knowledge. These tools are deployed both on-premises and in the cloud, offering functionalities such as data collection, cataloging, quality assessment, governance, ingestion, and curation. They cater to various verticals including IT, telecom, retail, BFSI, government, healthcare, energy, transportation, manufacturing, and more.

The data preparation tools research report is one of a series of new reports that provides data preparation tools market statistics, including the data preparation tools industry's global market size, regional shares, competitors with a data preparation tools market share, detailed data preparation tools market segments, market trends, and opportunities, and any further data you may need to thrive in the data preparation tools industry. This data preparation tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The data preparation tools market consists of revenues earned by entities by providing services such as data cleansing, data integration, data transformation, and data enrichment. The market value includes the value of related goods sold by the service provider or included within the service offering. The data preparation tools market also includes sales of servers, storage devices, and networking equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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