The global demand for Data Quality Tools Market is presumed to reach the market size of nearly USD 3775.75 MN by 2028 from USD 1104.25 MN in 2021 with a CAGR of 19.2% under the study period 2022 - 2028.
Data quality tools are software applications that enable the analysis of datasets and convert them into meaningful information. Thus, it helps in identifying and resolving problems. The tools perform parsing, standardisation, matching, enrichment, cleansing, monitoring, data validation and profiling. Organisations use them for processing data related to consumer behaviour, finances, suppliers, products and marketing. They also enhance the accuracy, completeness and consistency of the information across various departments in the organisation. Hence, these tools find extensive uses across multiple industries, including information technology (IT), financial services and insurance (BFSI), banking, manufacturing, healthcare, retail and telecommunications.
Market Dynamics
The market for data quality tools is anticipated to increase significantly due to factors like rising company data volume, rising use of external data sources, and increasing regulatory pressure. Additional factors contributing to market growth include tracking problems and maintaining workflow efficiency in the organisation, managing tasks and widespread adoption of data quality tools that are combined with data integration systems and MDM (Mobile Device Management) products to create structured processes. However, the market's growth is constrained by obstacles such as a lack of knowledge and integration that impair data timeliness. On the upside, the market is expected to benefit greatly from the rise of artificial intelligence for data quality.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of data quality tools. The growth and trends of data quality tools industry provide a holistic approach to this study.
Market Segmentation
This section of the data quality tools market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Data Type
- Customer Data
- Product Data
- Financial Data
- Compliance Data
- Supplier Data
By Deployment Model
By Organization Size
By End-User
- Banking, Financial Services, And Insurance (BFSI)
- Telecommunications And It
- Retail And E-Commerce
- Healthcare
- Manufacturing
- Government
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Data Quality Tools market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Data Quality Tools Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the data quality tools market include IBM, Informatica, Oracle, SAP, SAS Institute Inc., TIBCO Software Inc., Precisely., Tamr., RapidMiner, Inc., KNIME AG, The MathWorks, Inc., Alteryx Inc., Crunchbase Inc., Angoss Software Corporation, FICO, Teradata, Minitab LLC, and BlueGranite, Inc., Microsoft, Pitney Bowes Inc., Talend, Experian PLC, Trianz, Quadient, TECHTARGET, and Symphonic Source Inc. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.
