Dublin, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The "Data Wrangling - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Data Wrangling was estimated at US$2.2 Billion in 2023 and is projected to reach US$7.9 Billion by 2030, growing at a CAGR of 19.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Effective data wrangling ensures that this data can be accurately analyzed to provide actionable insights, drive strategic decision-making, and enhance operational efficiency. Without this critical step, much of the data collected would remain untapped, as raw data is often incomplete, inconsistent, or imprecise.
What Drives the Growth in the Data Wrangling Market?
The growth in the data wrangling market is driven by several factors, reflecting the increasing importance of data analytics in business strategy. The exponential growth of data generated by digital technologies is a major catalyst, as organizations seek to harness this data for competitive advantage. As analytics technologies become more sophisticated, the demand for high-quality, well-prepared data is higher than ever. Innovations in artificial intelligence and machine learning are also significant drivers, as these technologies require large volumes of curated datasets to train accurate models.
Furthermore, the push towards data-driven decision-making across industries has made data wrangling an essential capability for companies looking to extract valuable insights from complex data landscapes. Additionally, regulatory pressures for higher data quality and privacy are pushing businesses to invest in advanced data wrangling solutions that ensure compliance and security. Together, these drivers ensure that data wrangling remains a critical and growing field within the broader landscape of data management and analytics.
How Does Data Wrangling Enhance Data Quality and Analysis?
Data wrangling enhances the quality of data by addressing issues such as missing values, errors, and inconsistencies during the cleaning phase. This process also involves transforming and enriching data, which may include normalizing data formats, correcting values, and integrating datasets to enrich the data's context. For instance, data from different departments within a company can be amalgamated to provide a comprehensive view of operations.
Furthermore, the structuring phase of data wrangling helps in organizing the data into a more appropriate format for analysis, such as converting data into model-ready formats for machine learning algorithms. By improving data quality and structure, data wrangling facilitates more sophisticated and accurate analyses, allowing businesses to unlock predictive insights and strategic intelligence from their data assets.
What Are the Challenges Associated with Data Wrangling?
Despite its importance, data wrangling can be a complex, time-consuming, and often challenging process. One of the primary challenges is the sheer volume and variety of data, which can be overwhelming for data professionals to manage manually. Each data source may require a different approach due to varying structures, quality levels, and the types of information contained. Additionally, data wrangling tools and techniques must continuously evolve to keep up with the rapid pace of data creation and the emerging varieties of unstructured data.
Another significant challenge is ensuring data privacy and security during the wrangling process, especially when handling sensitive or personal information in compliance with regulations such as GDPR or HIPAA. These challenges necessitate not only skilled data professionals but also advanced tools that can automate many aspects of data wrangling to improve efficiency and accuracy.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Data Wrangling Services segment, which is expected to reach US$2.1 Billion by 2030 with a CAGR of a 17.6%. The Data Wrangling Tools segment is also set to grow at 20.8% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $592.0 Million in 2023, and China, forecasted to grow at an impressive 18.4% CAGR to reach $1.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Alteryx, Inc., Brillio, Cooladata Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 193 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $2.2 Billion |
| Forecasted Market Value (USD) by 2030 | $7.9 Billion |
| Compound Annual Growth Rate | 19.9% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- Data Wrangling - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- Surge in Big Data Analytics Drives Demand for Data Wrangling Tools
- Growing Need for Faster Decision-Making Bolsters Adoption of Data Wrangling Solutions
- Increasing Complexity of Data Sources Spurs Innovations in Data Wrangling Technologies
- Growing Focus on Predictive Analytics Enhances Need for Robust Data Wrangling Tools
- Adoption of Data Wrangling Tools in Healthcare to Improve Patient Care and Research
- Growing Investments in Data-Driven Strategies Propel the Data Wrangling Tools Market
- Enhanced Focus on Operational Efficiency Bolsters Adoption of Data Wrangling Solutions in SMEs
- Need for Agile Data Handling in Financial Services Spurs Data Wrangling Tool Deployments
FOCUS ON SELECT PLAYERS (Total 44 Featured)
- Alteryx, Inc.
- Brillio
- Cooladata Ltd.
- Dataiku, Inc
- Datameer, Inc.
- Hitachi Vantara Corporation
- IBM Corporation
- Ideata Analytics
- Impetus Technologies
- Infogix
- Informatica, LLC
- Innovative Routines International (IRI)
- Onedot AG
- Oracle Corporation
- Paxata
- Rapid Insight.
- SAS Institute, Inc.
- Talend SA
- Teradata Corporation
- TIBCO Software, Inc.
- TMMData
- Trifacta
- Unifi Software
For more information about this report visit https://www.researchandmarkets.com/r/tj2rw3
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