|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)|
|Syncsort (US) and Trianz (US)|
|Market Driving Forces|
|Growing volume of business data|
|Increasing usage of external data sources|
Market overviewAccording 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 AnalysisThe 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
|Market Size||USD 4 Million (2030)|
|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.|
A 18.70% CAGR is estimated to be accomplished by the market in the coming period.
Data Quality Tools Market estimated value of USD $4 Million during the forecast period of 2022 to 2030.
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.