The North America Data Preparation Tools Market would witness market growth of 15.4% CAGR during the forecast period (2021-2027).
Data preparation tools aid the companies in cleaning, combining, exploring, and changing raw data into curated datasets for data analytics, data discovery, data integration, and data science. The increasing adoption of cloud platforms, as well as a self-service data preparation platform, is supporting the trend among data-driven IT enterprises. The requirement for effective cataloging tools to access and evaluate a huge amount of data is fueling the growth of the data preparation tools market. In addition, growing unstructured and semi-structured data and increasing complications of data needs data preparation tools, hence accelerating the growth of the market.
The capabilities of self-service data preparation tools to facilitate simple collaboration, interchangeability, and profiling of all the data along with tackling the challenges related to the security of the data would boost the demand for these tools among companies across different verticals. As data analytics enterprises are highly demanding effective & efficient solutions to access and analyze a huge amount of data, the demand for data preparation tools would escalate in the market.
The increasing investment of the companies in cloud-based and data-related solutions and tools would support the growth of the regional preparation tools market. In addition, this region is the early adopter of various latest technologies and solutions, which is estimated to positively impact the demand for data preparation tools in the region. Along with that, the presence of various key market players in the region would contribute to the growth of regional market.
Moreover, the high investment in the anticipation of data deluge, under which cloud computing is contributing to the analytic initiatives, would further accelerate the growth of the data preparation tools market in this region. The introduction of various new data preparation tools from the regional vendors would motivate companies to adopt them for better data management.
The US market dominated the North America Cloud Data Preparation Tools Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1273.2 million by 2027. The Canada market is experiencing a CAGR of 21.9% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 20.8% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Data Preparation Tools Market is Estimated to reach $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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