GVR Report cover Data Preparation Tools Market Size, Share & Trends Report

Data Preparation Tools Market Size, Share & Trends Analysis Report By Platform (Self-service, Data Integration), By Deployment, By Functions, By Vertical (IT & Telecom, Retail & E-commerce, BFSI), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-2-68038-136-8
  • Number of Pages: 100
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2021
  • Industry: Technology

Data Preparation Tools Market Size & Trends

The global data preparation tools market size was valued at USD 4.86 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 16.1% from 2023 to 2030. Data preparation tools are mainly used for combining data from multiple sources and preparing the data for analysis. Data preparation tools have been in the market for a long time; however, there was a high need for expert assistance earlier. Data preparation finds greater acceptance in data-driven markets such as Information Technology (IT) and Banking, Financial Services and Insurance (BFSI). These tools' primary function is to find the right data at the right time efficiently. However, issues arising in data preparation may lead to insufficient and time-consuming results, thereby hampering the decision-making process.

U.S. data preparation tools market size and growth rate, 2023 - 2030

Demand for self-service data preparation tools is increasing rapidly as enterprises and organizations continue to adopt advanced analytics and Business Intelligence (BI) platforms. Adopting a combination of a cloud platform and a self-service data preparation platform is a growing trend among data-driven IT companies.

The rising demand for data analytics is expected to augment the demand for cloud-based data preparation tools in various data-driven verticals. In addition, a rising focus on the self-service platform is anticipated to enhance the operations within the organizations. It thus is expected to propel the demand for data preparation tools. The rising demand for analytics in enterprises has encouraged various data-driven organizations to invest in the research and development of the data preparation market.

The market is expected to witness a surge in technology adoption owing to benefits such as extracting business insights from socially shared pictures and auto-organizing untagged photo collections. Also, it helps to offer enhanced safety features in autonomous vehicles, such as emergency vehicle detection, terrain detection, wear detection, and condition monitoring, among others. Machine learning, powered by data gathering, has been embedded in several fields, such as robotics & drones, automated image organization of visual websites, and face identification on social networking websites, among others.

Platform Insights

The data integration platform dominated the data preparation tools market and accounted for more than 53.1% of the revenue share in 2022. The market has been sub-segmented into self-service and data integration based on the platform. The self-service segment is widely adopted by several data analytics and big data companies, such as Talend and Datameer Inc., as it provides a competitive edge to the companies. Self-service data preparation platforms are gaining popularity in the market because they can ensure easy access to data, offer higher levels of data security, and assist in data governance.

The self-service segment is also held a significant growth at a CAGR of 23.4% during the forecast period. The self-service platform also assists in integrating and analyzing the data collected from Internet of Things (IoT) devices, thereby helping organizations develop their business intelligence.

Function Insights

The data collection segment dominated the market and accounted for 27.1% of the revenue share in 2022, owing to its ability to offer users access to data from various sources. Based on function, the market has been sub-segmented into data collection, cataloging, quality, governance, ingestion, and curation. In March 2023, Integrate.io announced that it successfully achieved Google Cloud Ready - AlloyDB designation for PostgreSQL, Google Cloud’s newest fully managed PostgreSQL-compatible database service for the most demanding enterprise database workloads.

The data cataloging segment is expected to demonstrate a notable shift in its demand, registering a CAGR of 17.4% over the forecast period. Owing to the continued rollout of IoT devices that generate large volumes of data, the need for efficient cataloging tools to analyze IoT data is expected to increase over the forecast period. The demand for data cataloging is growing as a result. The growing concerns over security while handling and analyzing big data are anticipated to increase the need for the data security functions of data preparation tools.

Vertical Insights

IT and telecom dominated the market held a market share of 37.4% in 2022 and is anticipated to grow the fastest with a CAGR of 17.6% over the forecast period. Based on vertical, the market has been sub-segmented into IT and telecom, retail and e-commerce, BFSI, government healthcare, energy and utilities, transportation, manufacturing, and others. Data preparation tools are primarily used by IT and telecom players as these are the major data-driven sectors.

Retail analytics is one of the primary verticals which also showed significant growth for the forecast period. Retail analytics requires data to be collated from different input sources and supplied to various analytics firms for analysis. Self-service data preparation tools can automate this entire process. Hence, the market size of the retail and e-commerce sub-segment is expected to register a significant CAGR over the forecast period.

Deployment Insights

Based on deployment, the market for data preparation tools has been sub-segmented into on-premise and cloud. The cloud segment dominated the global market and accounted for a revenue share of 56% in 2022 and is expected to grow at a CAGR of 21.4%. Adoption of a combination of cloud technologies and a self-service platform is emerging as a popular trend among various data-driven companies, as it offers users access to local as well as cloud sources, thereby assisting them in significantly increasing the efficiency of the company.

Global data preparation tools market share and size, 2022

The on-premise segment is expected to expand over the forecast period. On-premises deployment of services gives the users control over systems or infrastructure and sensitive business data linked with a local network

Regional Insights

North America dominated the market with a share of 35.7% in 2022 and is anticipated to dominate the market over the forecast period. The emphasis on self-service analytics within organizations has propelled the adoption of user-friendly data preparation solutions. These tools enable business users, data analysts, and data scientists to manipulate and prepare data without extensive technical knowledge, thereby fostering a culture of data-driven decision-making within enterprises. Moreover, the increasing complexity of data sources, including structured and unstructured data from diverse channels, requires agile and adaptable data preparation tools capable of handling various data formats and sources.

Data Preparation Tools Market Trends, by Region, 2023 - 2030

Asia Pacific is expected to grow at the fastest CAGR of 17.5% during the forecast period. The demand for data analytics is growing rapidly in developing economies, such as China and India, as the retail and e-commerce sectors continue to gain traction in these countries. These factors are expected to fuel the growth of the market in the region.

Key Companies & Market Share Insights

Market players are focusing on inorganic growth strategies, such as acquisitions & mergers, and collaborations to augment their market share. For instance, in February 2022 Alteryx, Inc. announced the acquisition of Trifacta, a San Francisco-based company that offers cloud-first capabilities to help enterprises drive their analytics transformation at scale. The company aims to boost its automation platforms journey in the cloud.

Key Data Preparation Tools Companies:

  • Alteryx, Inc.
  • Datawatch Corporation
  • Informatica Corporation
  • International Business Machines Corporation
  • Microsoft Corporation
  • Micro Strategy Incorporated
  • Qlik Technologies Inc.
  • SAP SE
  • SAS Institute Inc.
  • Tibco Software Inc.

Recent Developments

  • In May 2022, Alteryx, the U.S.-based computer software company introduced Alteryx AiDIN, a machine learning (ML) and generative AI engine that powers the Alteryx Analytics Cloud Platform. Magic Documents, a brand-new Alteryx Auto Insights product, transforms data insights reporting and sharing with stakeholders by using generative AI to create a dynamic deployment for users to better understand and document business processes.

  • In June 2022, Salesforce, Inc., a cloud-based software company, launched "Mulesoft," a unified solution for data integration, vertical programming interface (APIs), and automation. The solution enables organizations to automate their workflow, create a unified view of data, and easily connect it with any system.

Data Preparation Tools Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 5.93 billion

Revenue forecast in 2030

USD 16.88 billion

Growth rate

CAGR of 16.1% from 2023 to 2030

Base year for estimation

2022

Historical data

2017 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Platform, deployment, functions, vertical, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; China; Japan; India; Australia; South Korea; Brazil; Mexico; Saudi Arabia; South Africa; UAE

Key companies profiled

Alteryx, Inc.; Datawatch Corporation; Informatica Corporation; International Business Machines Corporation; Microsoft Corporation; Micro Strategy Incorporated; QlikTech International AB; SAP SE; SAS Institute Inc.; Tibco Software Inc.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Data Preparation Tools Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global data preparation tools market report based on platform, deployment, functions, vertical, and region:

  • Platform Outlook (Revenue, USD Million, 2017 - 2030)

    • Self service

    • Data integration

  • Deployment Outlook (Revenue, USD Million, 2017 - 2030)

    • On-premise

    • Cloud

  • Functions Outlook (Revenue, USD Million, 2017 - 2030)

    • Data Collection

    • Data Cataloging

    • Data Quality

    • Data Governance

    • Data Ingestion

    • Data Curation

  • Vertical Outlook (Revenue, USD Million, 2017 - 2030)

    • IT & Telecom

    • Retail & E-commerce

    • BFSI

    • Government

    • Healthcare

    • Energy & Utilities

    • Transportation

    • Manufacturing

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa

      • Saudi Arabia

      • South Africa

      • UAE

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