According to the latest report by IMARC Group, titled “Data Quality Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on data quality tools industry size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global data quality tools market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 17.8% during 2023-2028.
Data quality tools are software applications that help organizations ensure their data’s accuracy, completeness, and consistency. These tools identify and resolve data quality issues, such as missing or inaccurate data, duplicate records, and inconsistencies across different data sources. Some common data quality tools include data profiling tools, which analyze the structure and content of data to identify issues, and data cleansing tools, which correct errors and inconsistencies in data. Other tools include data monitoring tools, which track changes in data over time, and data enrichment tools, which enhance data quality by adding missing or additional information.
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Market Trends:
The global market is majorly driven by the increasing product demand among organizations that rely on accurate and reliable data to make informed decisions. In line with this, the rapid adoption of big data analytics is significantly contributing to the market. Furthermore, the rising need for data accuracy and compliance is positively influencing the market. Apart from this, the growing demand for cloud-based data quality tools is catalyzing the market. Moreover, the escalating adoption of artificial intelligence (AI) and machine learning (ML) technologies is propelling the market. These technologies help organizations automate data quality processes and identify data quality issues more quickly and accurately. Besides, the increasing importance of data quality in today’s business environment is strengthening the market.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Ataccama Corporation (Adastra Corporation)
- Experian PLC
- International Business Machines
- Informatica LLC
- Information Builders Inc.
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- SAS Institute Inc.
- Syncsort Incorporated
- Talend Inc.
- Tamr Inc.
- Trianz Inc
Data Quality Tools Market Segmentation:
Our report has categorized the market based on region, data type, functionality, component, deployment type, organization size and vertical.
Breakup by Data Type:
- Customer Data
- Product Data
- Financial Data
- Compliance Data
- Others
Breakup by Functionality:
- Data Validation
- Data Standardization
- Data Enrichment and Cleansing
- Data Monitoring
- Others
Breakup by Component:
- Software
- Services
- Professional Services
- Managed Services
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Breakup by Vertical:
- Banking, Financial Services and Insurance
- Telecommunication and IT
- Retail and E-Commerce
- Healthcare and Life Science
- Manufacturing
- Government
- Energy and Utilities
- Media and Entertainment
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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