Sarasota, FL, Nov. 23, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Data Quality Tools Market by Data Type (Financial Data, Supplier Data, Customer Data, and Product Data), by Components (Software and Services) for Verticals (Banking, Financial Services, and Insurance (BFSI), Telecommunications and IT, Retail and E-commerce, Healthcare and Life Sciences, Manufacturing, and Government) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2022”. According to the report, global data quality tools market was valued at approximately USD 505.65 Million in 2016 and is expected to reach approximately USD 1,283.83 Million by 2022, growing at a CAGR of around 16.8% between 2017 and 2022.
Over the past few years, data quality has become a major concern for large companies in various activities, i.e. in customer relationship management (CRM), data integration, or regulatory requirements. Organizations are extracting more data from various sources and using it in more ways than ever before. In this scenario, data quality management is difficult as well as crucially important. Data quality tools enable organizations to jump-start their data quality initiatives while also providing a smooth path to data quality program growth and maturation. Data quality tools correspond to dedicated data decontamination tools such as address normalization tools and de-duplication tools.
Browse through 43 Tables & 28 Figures spread over 110 Pages and in-depth TOC on "Global Data Quality Tools Market 2016 – 2024: By Type, Size, Applications & Key Trends”.
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In order to perform analysis and make decisions, maintaining data quality is essential. The ability to conduct data analysis, make decisions, and construct strategies depends on having the right information at the appropriate time. When standardized data quality processes are clearly defined, accessing, and extracting the information is easier. Wide-ranging data management capabilities, coupled with enterprise data quality tools, can help organizations to meet these organizational goals. Data quality tools correspond to dedicated data decontamination tools such as address normalization tools and de-duplication tools.
Due to its dynamic nature, North America holds the largest share in data quality tools market. Increasing adoption of cloud-based data quality tools software from U.S. enterprises makes North America market leader in data quality tools market. Some data quality tool vendors developed country-specific tools that only classify and interpret country-specific data. For instance, a U.S. based company Mellissa Inc. developed Data Quality Suite to achieve comprehensive data quality effortlessly. This Data Quality Suit provides verification for North American addresses, names, phone numbers, and emails, and brings together all in one place. Advanced solutions in data quality management such as link disparate data sources to create a Single Customer View (SCV) and automate repetitive data management tasks provided by North American companies that drive the growth of data quality tools market in this region.
Browse the full " Data Quality Tools Market by Data Type (Financial Data, Supplier Data, Customer Data, and Product Data), by Components (Software and Services) for Verticals (Banking, Financial Services, and Insurance (BFSI), Telecommunications and IT, Retail and E-commerce, Healthcare and Life Sciences, Manufacturing, and Government) - Global Industry Analysis, Size, Share, Growth, Trends, and forecast 2016 – 2022" report at https://www.zionmarketresearch.com/report/data-quality-tools-market
Asia Pacific region is expected to have moderate growth in data quality tools market in upcoming years due to advancement in the data quality tools and increasing awareness of data quality tools among the enterprises. Presence of small and medium enterprises and rigorous data related regulatory compliances in Asia Pacific region is anticipated to be the major contributing factors for growth of data quality tools market in this region. Increasing adherence to data quality tools to mobile and Internet of Things (IoT) technologies further drives the growth of this market in Asia Pacific region.
Europe is expected to have moderate growth in given forecasted period in data quality tools market. Uncertain economic conditions and increased number of service sectors are some of the major contributing factors for the growth of the data quality tools market in this region.
Increased adoption of data analytics and data management software in Latin America and Middle East region is driving factor for data quality tools market in these regions. Data quality tools market is segmented based on data type, component, vertical, and region. Data type segment under this study includes financial data, supplier data, customer data, and product data. The component segment includes software and services. The vertical segment includes banking, financial services, and insurance (BFSI), telecommunications and IT, retail and e-commerce, healthcare and life sciences, manufacturing, and government. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including U.S., France, UK, Germany, China, India, Japan, and Brazil.
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Key players profiled in this market include Information Builders, Microsoft Corporation, Pitney Bowes Inc., Syncsort, International Business Machines Corporation, Informatica, Oracle Corporation, SAP SE, SAS Institute Inc., Talend, Experian PLC.
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Global Data Quality Tools Market segmented into:
Global Data Quality Tools Market: Data Type Segment Analysis
- Financial Data
- Supplier Data
- Customer Data
- Product Data
Global Data Quality Tools Market: Component Segment Analysis
- Software
- Services
Global Data Quality Tools Market: Vertical Segment Analysis
- Banking, Financial Services, and Insurance (BFSI)
- Telecommunications and IT
- Retail and E-commerce
- Healthcare and Life Sciences
- Manufacturing
- Government
Global Data Quality Tools Market: Region Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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