Data Extraction Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 | Leading players such as - Alteryx, Inc., Altair Engineering Inc., Fair Isaac Corporation, IBM Corporation, Microsoft Corporation, Matillion Ltd., Oracle Corporation

Increasing use of data extraction services by gamut of enterprises from diverse sectors. Data extraction is a technique that helps enterprises to retrieve data from diverse sources. This data is further analyzed to make business decisions and strategizing their moves.

Cloud segment is expected to experience significant growth in the coming years, owing to rise in adoption of cloud enabled data extraction software among the SMEs to increase their revenue opportunity and to enhance their business across the globe.

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Increase in adoption of big data analytics software by multiple organizations, need for dedicated storage systems, and numerous benefits offered by data extraction solutions drive the growth of the global data extraction market

The global data extraction industry accounted $2.14 billion in 2019, and is expected to reach $4.90 billion by 2027, growing at a CAGR of 11.8% from 2020 to 2027.

The key players profiled in the data extraction market analysis are Alteryx, Inc., Altair Engineering Inc., Fair Isaac Corporation, IBM Corporation, Microsoft Corporation, Matillion Ltd., Oracle Corporation, SAS Institute, Inc., SAP SE, and Teradata Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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By region, the market across North America contributed the highest share in 2019, holding to nearly half of the market, owing to business in North America adopting data extraction tools to easily extract insights from unstructured data. However, the global data extraction market across Asia-Pacific is expected to register the highest CAGR of 14.7% during the forecast period, due to strategies adopted by key players to establish their business in the emerging countries such as China and India.

By component, the solution segment held the largest share in 2019, accounting for more than two-thirds of the global data extraction market, owing to growing need to manage increasing data across the globe. However, the service segment is expected to manifest the highest CAGR of 13.4% during the forecast period, due to adoption of services among end users, as they ensure the effective functioning of data extraction software.

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By deployment model, the cloud segment is projected to portray the fastest CAGR of 13.1% during the study period, owing to its high data transfer speed and security features. However, the on-premise segment held the largest share in 2019, contributing to more than half of the global data extraction market, due to rise in adoption of cloud services across various industries.

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