Press release
Data Wrangling Market Expected to Reach $5.58 Billion by 2026
Increase in volume and velocity of data across the organizations and technological advancement such as AI and machine learning technologies in data wrangling, drives the growth of the market. In addition, growth of edge computing solutions fuels the growth of the market. However, reluctance to shift from traditional ETL tools to advance automated tools hampers the growth of the market. Furthermore, increasing regulatory pressure among the enterprises is expected to present major opportunities for the expansion of the market in future.
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The operations segment dominated the data wrangling market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to rise in its use to align large amount of data and to transform the data for analysis in very less time. Furthermore, human resources segment is expected to grow at a significant CAGR during the forecast period, owing to the adoption by enterprises for extracting data from multiple human resource information system systems (HRIS) and retain precise enterprise wide reporting.
Key Findings of the Study:
► By component, the solution segment led the data wrangling market size in terms of revenue in 2018.
► By deployment model, the cloud segment accounted for the highest data wrangling market share in 2018.
► By industry vertical, the BFSI segmented accounted for the highest data wrangling market share in 2018.
► By region, North America generated the highest revenue in 2018.
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The BFSI sector dominated the data wrangling market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to rise in number of financial institutions are using graph database solutions to solve a variety of data problems. Furthermore, the retail & e-commerce sector is expected to grow at a significant CAGR during the forecast period, owing to the major shift toward digitization in the retail industry.
By region, the global data wrangling market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. The major factors driving the growth of the market in this region includes growing adoption of data wrangling solution by businesses to effectively prepare data for getting accurate analytics for informed decision making. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to adoption of data wrangling solution by large enterprises in the emerging countries such as China and India, for refining large volumes of data.
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Key Market Players:
► IBM Corporation
► Oracle Corporation
► SAS institute
► Tibco Software
► Hitachi Vantara
► Teradata Corporation
► Alteryx
► Impetus
► Trifacta Software Inc.
► Paxata Inc.
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