Global Data Quality Tool Market Research Report- Forecast 2030

Global Data Quality Tool Market, By Component (Solutions, Services), By Data (Consumer data, Producer data), By Deployment (On-premises, on-demand), By Organization size (Small, Medium, Large), By Vertical, (BFSI, Healthcare, Education) - Forecast 2030

ID: MRFR/ICT/2586-HCR | February 2021 | Region: Global | 100 pages         

Data Quality Tool Market

Data Quality Tool Market is expected to be valued at USD 4 Million with a CAGR of 18.70% Forecast by 2030

$4 Million

Market Size


18.70%

CAGR


Asia Pacific

Dominating Region

2021-2030

Forecast Period

Segmentation

By Component Solutions Services
By Data Consumer data Producer data
By Deployment On-premises On-demand

Key Players

  • SAP SE (Germany)
  • Microsoft Corporation (US)
  • IBM Corporation (US)
  • Experian Data Quality (US)
  • SAS Institute Inc. (US)
  • Informatica Corporation (US)
  • Pitney Bowes (US)
  • Information Builder (US)
  • Oracle Corporation (US)
  • Tamr (US)
  • Talend (US)
  • Syncsort (US) and Trianz (US)

Drivers

  • Growing volume of business data
  • Increasing usage of external data sources
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Market overview

According to the latest report, the global data quality tool market is predicted to reach approximately USD 4 Billion by the end of the year 2030 with a growth rate of CAGR of 18.70% during the forecast period 2021-2030. Data quality tool is a type of tool which is used to address several aspects of data quality. This particular tool also offers numerous features including formatting of values of the texts into consistent layouts, decomposition of several text fields into component parts, the identification and linking of data entries into others, and modification of data values.
The rise in the development of technology is the major factor that is contributing to the growth of the global data quality tool market. The ever-growing amount of data has conducted to complex formats and data types, hence evaluating and understanding the information from the collected data for quick and useful decisions is predicted to boost the growth of the data quality tool market. Moreover, the factors including rising demand for quality functions in big data, increasing artificial intelligence for data quality, and the increasing speed of data accumulations are predicted to boost the growth of the data quality tool market over the forecast period, 2017 – 2023. However, the factors including lack of awareness and issues of security are likely to hamper the growth of the DQT market.
This report contains all the information on the global data quality tool market research and market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global data quality tool market analysis and forecast to 2026 is also included in the report.
                                                                                                           
Covid 19 Analysis

The outbreak of the global pandemic covid-19 is generating extensive amount of data that includes large numbers of data related to infection rates, admissions in hospital and deaths per 100,000 are obtainable within seconds. Moreover, in spite of large amount of data, people are mostly unaware of the facts of what’s happening on the growing and covid 19 data sets are not directly translating into finer decision making. 
The context of the data is a bit complex and it become a bit difficult to understand such as the assembling process, metadata around every feature since the last update and the most importantly to investigate the quality of the data whether its going to used for machine learning purposes.

Market Dynamic


  •         Drivers


The major factor that is contributing to the growth of the global data quality tool market is the rising volume of business data, rising usage of external data sources, the requirement of improvement of the performance of data for better customer engagement, and rising regulatory pressure in order to reduce the risk of brand reputation.

  •         Opportunities


The rise of artificial intelligence for data quality, the rising demand for data quality functions in big data, and the increasing speed of data accumulation are predicted to create opportunities for the data quality tool market over the forecast period, 2017 – 2023. Several organizations are willing to invest in data quality tools for the betterment of customer needs, improving the service quality, business growth, and future predictions.

  •         Restraints


The lack of awareness and security-related issues are likely to hamper the growth of the data quality tool market and can be considered as a major restraint to the global data quality tool market.

  •         Challenges


The complexity of data structure and integration affecting the data timeliness can be considered as the major challenges faced by the global data quality tool market.
 
Cumulative Growth Analysis

The data quality tools companies make sure that targeted communication can easily reach to the right customers which are likely to enable companies to take real-time action according to the requirements of their customer. This organization uses a data quality tool in order to formalize e-mails at the capture point and clean the database of junk e-mail addresses. Moreover, the requirement of improving customer engagement is likely to drive the global data quality tool market growth during the forecast period.

Value Chain Analysis

According to the latest report, the global data quality tool business has been segmented on the basis of data type, component, deployment, organization size, vertical, and region. On the basis of data type, the global data quality tool market has been further segmented into product data, consumer data, financial data, supplier data, and others. On the basis of components, the global data quality tool market has been segmented into solutions and services. On the basis of organization size, the market is segmented into small, medium, and large. On the basis of vertical, the global data quality tool market is segmented into BFSI, media & entertainment, retail, manufacturing, healthcare, government, energy, education, and others.

Segmentation Overview

The market is segmented on the basis of the data type, component, deployment, organization size, vertical, and region. The global data quality tool market is expected to witness decent growth during the forecast period.

By Application
Based on the application, the market is segmented into product data, consumer data, financial data, supplier data, and others

By end-users
Based on the propulsion types, the market is segmented into BFSI, media & entertainment, retail, manufacturing, healthcare, government, energy, education, and others.

Regional Analysis

According to the latest report, on the basis of region, the global data quality tool market has been segmented into North America, Europe, Asia Pacific, and the rest of the world. North America accounts for the largest data quality tool market share due to its massive expansion of data in this region, the rising adoption of the internet of things, data regulatory compliances, and the increasing pressure of a large number of vendors are the major factors that are contributing to the growth of the global data quality tool market sales. Moreover, the Asia-pacific region is predicted to boost the growth of the global data quality tool market due to its rising demand for digitalization and rising awareness about new technology solutions in this region.

Competitive landscape

The global data quality tools market trend is somewhat fragmented due to several international and domestic companies who are offering advanced solutions. The presence of significant vendors in the data quality tool industry and that the fierce completion is likely to encourage the focus of the major key players in the market to enhance their customer reach around the globe. Moreover, the providers of different data quality tools are focused on providing a comprehensive set of solutions in order to increase the market interaction with their valuable customers.

Major Key players

  •         SAP SE (Germany)

  •         Microsoft Corporation (US)

  •         IBM Corporation (US)

  •         Experian Data Quality (US)

  •         SAS Institute Inc. (US)

  •         Informatica Corporation (US)

  •         Pitney Bowes (US)

  •         Information Builder (US)

  •         Oracle Corporation (US)

  •         Tamr (US)

  •         Talend (US)

  •         Syncsort (US)

  •         Trianz (US)

  •         And among others


Report Overview
The following report comprises of –

  •  Market overview 

  •  Covid 19 Analysis

  •  Market Dynamic

  •  Drivers

  •  Opportunities

  •  Restraints 

  •  hallenges

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segmentation Overview 

  • By Application 

  • By End-Users

  • Regional Analysis

  • Competitive landscape


Recent Developments

  •         In the month of May, the year 2017, Informatica had launched Informatica Data Governance & Compliance. This is the first data of the industry governance solution and it is built to build up enterprise compliance and data governance. The Informatica Data Governance & Compliance solution is likely to help enterprises in appealing their data security teams and IT for governing all data types including on-premises, like cloud, and big data.

  •         In the month of March, the year 2017, Trillium Software is a Syncsort company and this company has launched Trillium Precise which is a data-as-a-service solution, it enables accuracy, and also offers a single view of customers, verified and complete real-time data.

  •         In the month of February, year 2016, Information Builders had launched the iWay Hadoop Data Manager which precise Hadoop-based data management and integration. This solution provides an easy interface to use witch is instrumental in giving rise to reusable and portable codes for Hadoop’s data integration tasks including data ingestion, cleansing, and transformation.


Data Quality Tool Market Segments
Component-

  • Solutions

  • Services


Data Type-

  • Product Data

  • Consumer Data

  • Financial Data

  • Supplier Data

  • Others


Deployment-

  • On- Demand

  • On-premises


Organization size-

  • Small

  • Medium

  • Large


Vertical-

  • BFSI

  • Media and Entertainment

  • Retail

  • Manufacturing

  • Healthcare

  • Government

  • Energy

  • Education

  • Others


Region

  • North-America

  • Europe

  • Asia-Pacific

  • RoW

Report Scope:
Report Attribute/Metric Details
  Market Size   USD 4 Million (2030)
  CAGR   18.70% (2021-2030)
  Base Year   2019
  Forecast Period   2021-2030
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Component, By Data, By Deployment
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   SAP SE (Germany), Microsoft Corporation (US), IBM Corporation (US), Experian Data Quality (US), SAS Institute Inc. (US), Informatica Corporation (US), Pitney Bowes (US), Information Builder (US), Oracle Corporation (US), Tamr (US), Talend (US), Syncsort (US) and Trianz (US)
  Key Market Opportunities   Increasing adoption of internet of things, stringent data related regulatory compliances and the presence of large number of vendors.
  Key Market Drivers   The factors contributing to the growth of the data quality tool market are the growing volume of business data, increasing usage of external data sources, increasing regulatory pressure and the need for improvement of performance of data.


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Frequently Asked Questions (FAQ) :

A 18.70% CAGR is estimated to be accomplished by the market in the coming period.

USD 4 billion is expected to be gained by the market in the course of the forecast.

IBM Corporation (US), Pitney Bowes (US), Experian Data Quality (US), Microsoft Corporation (US), SAS Institute Inc. (US) and Informatica Corporation (US) are a few of the competitors in the market.

The North American region is expected to tip the market due to the positive alignment of factors in the market.

The increased regulatory procedures are estimated to guide the expansion of the market in the coming years.