New York, NY, July 27, 2019 (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 Ecommerce, Healthcare and Life Sciences, Manufacturing, and Government) - Global Industry Analysis, Size, Share, Growth, Trends and forecast 2016 – 2022”.
As estimated in this report, the global data quality tools market stood at US$ 505.65 million in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in this data quality tools market is expected to reach US$ 1,283.83 million by the end of the forecast period.
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, and Applications & Key Trends”.
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Citing an instance, in August 2018, Erwin Inc.—a data governance firm—declared the acquisition of AnalytiX DS, a metadata management & data governance provider, thereby supporting the Erwin’s EDGE Data Governance Platform through a wide set of metadata connectors, data mapping, cataloging, and automated code generating tools. Analysts predict that the strategic decision will assist Erwin in accelerating the data transformation into authentic & actionable business insights through application of advanced versions of the data management protocols, tools & products as well as data governance lifecycle models.
The report covers forecast and analysis for the data quality tools market on a global and regional level. The study provides historic data for 2014, 2015, and 2016 along with a forecast from 2017 to 2022 based on revenue (USD Million). The study includes drivers and restraints for the data quality tools market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the data quality Tools market on a global level.
In order to give the users of this report a comprehensive view of the data quality tools market, we have included a detailed competitive scenario, and data quality tools type portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the data quality tools market has also been included. The study encompasses a market attractiveness analysis, wherein type segments are benchmarked based on their market size, growth rate, and general attractiveness.
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Abstract
- The report covers the forecast and analysis for the Data Quality Tools Market on a global and regional level.
- The report includes the positive and the negative factors that are influencing the growth of the market.
- The revenue generated by the prominent industry players has been analyzed in the report.
- The market numbers have been calculated using top-down and the bottom-up approaches.
- The Data Quality Tools Market has been analyzed using Porter’s Five Forces Analysis.
- The market is segmented on the basis of agriculture type, software type, service type, solution type, and application type, which in turn is bifurcated on a regional level as well.
- All the segments have been evaluated based on the present and the future trends.
- The report deals with in-depth quantitative and qualitative analyses of the Data Quality Tools Market.
- The report includes the detailed company profiles of the prominent market players.
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Many business analysts recognize the importance of high-quality data for the success of their business. Hence, there is a growing trend in integrating data quality management within their particular organizations. It is not easy to do it manually with such an amount of data available these days. Data quality tools are used to deal with various aspects of the data quality predicament such as disintegration of text fields into component parts and formatting of values into reliable layouts based on industry standards; alteration of data values to meet domain limitations, integrity constraints or other business rules that define sufficient data quality for the organization; identification, and linking related entries across sets of data; and exploitation of controls to ensure ongoing conformance of data to business rules that define data quality for the organization.
Analyzing and disintegrating huge complex database that arrives in enterprises on daily basis is not an easy task for the analyst. Hence, many organizations are taking help of third party service providers to solve the data related problems. And this factor is primarily driving the growth of data quality tools market. To make business successful one has to gather the business related data from internal as well as external sources. Internal data is can be found in a formatted manner but external data is not well organized. Thus, data quality tools play vital role to organize and analyze the external data. Growing importance of departmental data in organizations business strategies further anticipated the growth of this market globally. Furthermore, need for improving bottom-line performance through better customer engagement drives the growth of quality data tool market. Rise in artificial intelligence in data quality tools software is expected to fuel the data quality tools market globally. However, lack of awareness of data quality tools among the organizations, especially those organizations which are new in the market and targeting to achieve market share, restrain the growth of global data quality tools market.
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Growing Demand For Accruing High Quality Data To Enlarge Market Space
“Rise in the volume of business data across myriad firms along with mammoth need for acquiring high data quality in CRM and data integration activities is likely to propel the growth of data quality tools market in the years ahead,” says the author of this study. Apart from this, the need for enhancing the bottom-line performance by offering better customer engagement is expected to further drive data quality tools market trends. In addition, amplified preference for synchronizing data quality management tools within the organizations is expected to extend the scope of data quality tools business in the years to come.
Inception of new technologies such as IoT is likely to propel the demand for data quality tools in the near future. Lack of awareness about data quality tools applications & use and data security concerns resulting in large-scale adoption of cloud –based systems, however, is forecast to obstruct the progression of data quality tools market in the forthcoming years.
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 http://www.zionmarketresearch.com/report/data-quality-tools-market
Huge Applications In Enterprise Information Management To Aid Market Growth
Regionally, North America has been leading the worldwide data quality tools market and is anticipated to continue on the dominant position in the years to come, states the data quality tools market study. Enormous growth witnessed in enterprise information management activities is the main factor behind the dominance of the North America data quality tools market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional data quality tools market.
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The global data quality tools market is segmented as follows:
By Data Type
- Financial Data
- Supplier Data
- Customer Data
- Product Data
By Component
- Software
- Services
By Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Telecommunications and IT
- Retail and E-commerce
- Healthcare and Life Sciences
- Manufacturing
- Government
By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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