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Data Cleaning Tools Market Size, Share, Scope, Trends
Data Cleaning Tools Market Size
As per the report, the data cleaning tools market size has grown rapidly in recent years. It will grow from $2.65 billion in 2023 to $3.09 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The data cleaning tools market size is expected to see rapid growth in the next few years. It will grow to $5.80 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%.
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The Role Of Increasing Data Volume In The Data Cleaning Tools Market
The increasing volume of data is expected to propel the growth of the data-cleaning tools market going forward. Data refers to the raw information or records that are entered into the tool for processing to gain insights and make sound decisions. The volume of data is rising due to the increasing use of digital platforms, the proliferation of connected devices, and the growing number of data sources. Large datasets contain various data types, formats, and structures, making maintaining data quality and consistency challenging. Data cleaning tools help manage complexity by detecting and correcting imperfections, inconsistencies, and inaccuracies in the data. For instance, in December 2022, according to the SODA Foundation, a US-based open-source organization, there were 924 terabytes of data growth in 2022, up from 269 terabytes in 2021. Therefore, the increasing volume of data is driving the growth of the data-cleaning tools market.
Advancements In Real-Time Automated Data Cleaning Tools Transforming Consumer Research Processes
Major companies operating in the data cleaning tools market are focused on developing advanced tools, such as real-time automated data cleaning tools, to gain a competitive edge in the market. Real-time automated data cleaning tools are software solutions that use rule-based algorithms and machine learning to detect and correct errors, inconsistencies, duplicates, and inaccuracies in data streams that are constantly generated. For instance, in November 2021, GetWizer, an Israel-based hybrid consumer insights platform, launched real-time automated data cleaning tools to remove 'dirty' data from the research process. This works for image-based responses, which use machine vision algorithms to analyze the content of photos supplied by respondents before automatically identifying and categorizing them. This unique data cleansing technology pairs with numerous recent improvements to the GetWizer platform, establishing it as the all-in-one consumer research platform.
The data cleaning tools market covered in this report is segmented -
1) By Data Type: Audio, Speech And Voice, Image, Text, Video
2) By Type: Cloud-Based, On-Premises
3) By Application: Small And Medium Enterprises, Large Enterprises
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Major companies operating in the data cleaning tools market are International Business Machines Corporation, Oracle Corporation, SAP SE, Experian Information Solutions Inc., SAS Institute Inc., Informatica LLC, TIBCO Software Inc., Alteryx Inc., Precisely Holdings LLC, Talend Inc., Domo Inc., DataRobot Inc., Sisense Inc., Melissa Inc., Datameer Inc., Astera Software Inc., Symphonic Source Inc., ClicData Inc., WinPure, DataLadder, Akkio Inc., Integrate.io
Contents of the report:
1. Executive Summary
2. Data Cleaning Tools Market Report Structure
3. Data Cleaning Tools Market Trends And Strategies
4. Data Cleaning Tools Market - Macro Economic Scenario
5. Data Cleaning Tools Market Size And Growth
…..
27. Data Cleaning Tools Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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