Market Synopsis
The global data quality tool market is evaluated thoroughly, and the evaluation has established that the data quality tool market is expected to be valued at USD 4 Million with a CAGR of 18.70% Forecast by 2030. The enlarging volume of business data is projected to be the most imperative factor driving the global data quality tool market 2020. Besides, the growing demand for the betterment of performance of data is anticipated to play an important role in market strengthening. Further, increasing regulatory pressure is another factor leading to market expansion. The report also casts light on elements such as the surge in artificial intelligence for data quality is estimated to fuel the market additionally. It is to be noted here that the increasing speed of data accumulation is another factor leading to market expansion during the assessment period from 2017 to 2023. Several enterprises are making massive investments in data quality tools for comprehending the customer demands efficiently, and thereby making the service quality superior.
However, security threats and insufficient knowledge are likely to control the market expansion of the global data quality tool market. Besides, the market dynamics have changed considerably due to disruption pf COVID-19. The data experts at Market Research Future Reports (MRFR) are evaluating the aftermath of COVID-19. We will provide an impact analysis report on COVID-19.
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Key Players
The most renowned players of the global data quality market are Microsoft Corporation (US), SAP SE (Germany), IBM Corporation (US), SAS Institute Inc. (US), Experian Data Quality (US), Informatica Corporation (US), Information Builder (US), Pitney Bowes (US), Oracle Corporation (US), Talend (US), Tamr (US), Syncsort (US), Trianz (US), and a few others.
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Market Segmentation
The global data quality tool market can be distinguished on the grounds of data type, component, vertical, deployment, organization size, and geography.
On the grounds of data type, the global data quality tool market can be segmented into product data, supplier data, consumer data, financial data, and others.
On the grounds of component, the global data quality tool market can be segmented into services and solutions.
On the grounds of vertical, the global data quality tool market can be segmented into retail, healthcare, media and entertainment, BFSI, manufacturing, government, education, energy, and others.
On the grounds of deployment, the global data quality tool market can be segmented into on-premises and on-demand.
On the grounds of organization size, the global data quality tool market can be segmented into small, medium, and large.
On the grounds of geography, the global data quality tool market can be segmented into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
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Regional Analysis
The global market is projected to grow generously during the assessment period. A thorough geographical evaluation of North America, Asia-Pacific, Europe, and the Rest of the World (RoW) has been carried out. As per the research, the market is likely to be led by North America. North America is estimated to seize the largest Data Quality Tool market share. The phenomenal expansion of data in the region is likely to make the market environment lucrative and potent. Also, the adoption of developed technologies like the Internet of Things, strict data regulation, and the establishment of robust vendors is likely to augment the market presence. The APAC region is projected to acquire a phenomenal expansion during the assessment period. The magnifying reach and innovation of technical solutions, along with the growing demand for digitization is anticipated to convert the market into a more robust market.