The Europe Data Preparation Tools Market would witness market growth of 16.1% CAGR during the forecast period (2021-2027).
Data preparation tools help companies to integrate data from several sources and prepare the data for analysis. There is an increase in demand for data preparation tools across data-driven markets like IT and BFSI. Additionally, finding the accurate data at the right time effectively is the key function of these data preparation tools. Although, challenges faced in data preparation can lead to outcomes, which are deficient and more time-consuming, and thus hindering the decision-making process.
Since companies and businesses are increasingly adopting advanced analytics and business intelligence platforms, the demand for self-service data preparation tools has also surged in the market. One of the popular trends among data-driven IT enterprises is the adoption of the integrated cloud platform with a self-service data preparation platform. Further, data preparation tools enable companies to boost their efficiency by providing easy access to data. The growth of data preparation tools market is expected to witness bright prospects due to the massive demand for data analytics, especially in the IT and retail industries.
With advanced technology and solutions, enterprises can better manage the challenges related to data preparation. The rising variety, volume, and velocity of data compel companies to revise their traditional method of storing, sharing, and reporting the data. Due to this, enterprises are increasingly adopting data preparation tools in the region. In addition, the importance of effective data management and growing awareness regarding the benefits of data preparation tools would augment the regional market growth.
Moreover, these tools would help companies to make traditional data processes better, smarter, and approachable, which would have a significant impact on the BI (business intelligence), visual analytics, and data discovery process. This would further boost the growth of the data preparation tools market in this region during the forecast period.
The Germany market dominated the Europe Healthcare Data Preparation Tools Market by Country 2020, thereby, achieving a market value of $66.2 million by 2027. The UK market is exhibiting a CAGR of 16.8% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 18.5% during (2021 - 2027).
Based on Component, the market is segmented into Data Integration and Self Service. Based on Function, the market is segmented into Data Collection, Data Cataloging, Data Governance, Data Quality, Data Ingestion, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on End User, the market is segmented into IT & Telecom, Retail & eCommerce, BFSI, Healthcare, Government, Energy & Utilities and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Data Preparation Tools Market Size will Hit $8.6 Billion by 2027, at a CAGR of 17%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, SAP SE, Altair Engineering, Inc., MicroStrategy, Inc., Alteryx, Inc., QlikTech International AB (Thoma Bravo), Informatica, LLC, Tibco Software, Inc. (Vista Equity Partners), and SAS Institute, Inc.
By Component
By Function
By Deployment Type
By End User
By Country
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