Published Date: 18-Nov-2021
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According to a new report Global Data Preparation Tools Market, published by KBV research, The Global Data Preparation Tools Market size is expected to reach $8.6 billion by 2027, rising at a market growth of 17% CAGR during the forecast period.
The data collection segment procured the maximum revenue share in the market in 2020. Moreover, the segment is likely to exhibit similar kind of trend during the forecasting period due to its capability to provide customers access to data from different sources.
The data integration platform acquired the largest revenue share of the data preparation tools market in 2020. In addition, a self-service platform helps in combining and analyzing the data gathered from IoT devices, thus, enabling companies to develop their business intelligence. For instance, IBM in March 2016, came into a partnership with Datawatch Corporation to facilitate better and fast access to data and self-service data preparation to customers of IBM Watson Analytics and IBM Cognos Analytics.
Region-wise, the North America emerged as the leading region in data preparation tools market by obtaining the highest revenue share in 2020. It is due to the increasing integration of AI and mobile computing platforms in digital shopping and e-commerce as it generates a huge volume of data for annotation. On the other hand, Europe would also acquire a significant market share due to the increasing investments in data analytics in the European region, especially in the U.K. There are numerous data preparation and analytics enterprises that have begun to launch cloud-based solutions in Europe.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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