Market Size –
The data cleaning tools market size has grown rapidly in recent years. It will grow from $2.65 billion in 2023 to $3.09 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to increased volumes of data generated by organizations, growth of e-commerce and digital marketing, increased awareness about the impact of poor data quality, rise in the competition among enterprises, increased focus on customer experience.
The data cleaning tools market size is expected to see rapid growth in the next few years. It will grow to $5.80 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to increasing data complexity, growing adoption of cloud-based solutions, demand for real-time data processing, increasing cybersecurity concerns, growth of predictive analytics. Major trends in the forecast period include cloud-based data cleaning solutions, adoption of advanced analytics, subscription-based pricing models, blockchain technology, user-friendly interfaces.
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Scope Of Data Cleaning Tools Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Data Cleaning Tools Market Overview
Market Drivers –
The increasing volume of data is expected to propel the growth of the data-cleaning tools market going forward. Data refers to the raw information or records that are entered into the tool for processing to gain insights and make sound decisions. The volume of data is rising due to the increasing use of digital platforms, the proliferation of connected devices, and the growing number of data sources. Large datasets contain various data types, formats, and structures, making maintaining data quality and consistency challenging. Data cleaning tools help manage complexity by detecting and correcting imperfections, inconsistencies, and inaccuracies in the data. For instance, in December 2022, according to the SODA Foundation, a US-based open-source organization, there were 924 terabytes of data growth in 2022, up from 269 terabytes in 2021. Therefore, the increasing volume of data is driving the growth of the data-cleaning tools market.
Market Trends –
Major companies operating in the data cleaning tools market are focused on developing advanced tools, such as real-time automated data cleaning tools, to gain a competitive edge in the market. Real-time automated data cleaning tools are software solutions that use rule-based algorithms and machine learning to detect and correct errors, inconsistencies, duplicates, and inaccuracies in data streams that are constantly generated. For instance, in November 2021, GetWizer, an Israel-based hybrid consumer insights platform, launched real-time automated data cleaning tools to remove ‘dirty’ data from the research process. This works for image-based responses, which use machine vision algorithms to analyze the content of photos supplied by respondents before automatically identifying and categorizing them. This unique data cleansing technology pairs with numerous recent improvements to the GetWizer platform, establishing it as the all-in-one consumer research platform.
The data cleaning tools market covered in this report is segmented –
1) By Data Type: Audio, Speech And Voice, Image, Text, Video
2) By Type: Cloud-Based, On-Premises
3) By Application: Small And Medium Enterprises, Large Enterprises
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Regional Insights –
North America was the largest region in the data cleaning tools market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data cleaning tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the data cleaning tools market are International Business Machines Corporation, Oracle Corporation, SAP SE, Experian Information Solutions Inc., SAS Institute Inc., Informatica LLC, TIBCO Software Inc., Alteryx Inc., Precisely Holdings LLC, Talend Inc., Domo Inc., DataRobot Inc., Sisense Inc., Melissa Inc., Datameer Inc., Astera Software Inc., Symphonic Source Inc., ClicData Inc., WinPure, DataLadder, Akkio Inc., Integrate.io
Table of Contents
1. Executive Summary
2. Data Cleaning Tools Market Characteristics
3. Data Cleaning Tools Market Trends And Strategies
4. Data Cleaning Tools Market – Macro Economic Scenario
5. Global Data Cleaning Tools Market Size and Growth
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31. Data Cleaning Tools Market Other Major And Innovative Companies
32. Global Data Cleaning Tools Market Competitive Benchmarking
33. Global Data Cleaning Tools Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Data Cleaning Tools Market
35. Data Cleaning Tools Market Future Outlook and Potential Analysis
36.Appendix
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