Press release
Data Preparation Tools Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Data Preparation Tools Market Size
The swift escalation in data volume is predicted to significantly drive the expansion of the data preparation tools market. Data can be defined as unprocessed facts, statistics, and figures gathered for assessment or reference, typically in digital format. The swift escalation in data volume is chiefly attributable to the rise in digitalization, technological progressions, and the escalating spread of connected devices. The mounting volume of data necessitates the use of data preparation tools to effectively clean, transform, and arrange data for evaluation due to the intricacy and magnitude of managing extensive datasets. For instance, in December 2022, as per a report released by the Linux Foundation, a non-profit consortium based in the US, an average end-user organization with a storage capacity of up to 20 petabytes saw an annual data growth rate of 566 TB in 2021 and 1,746 TB in 2022. In comparison, annual data growth for organizations with a storage capacity of up to 25 petabytes peaked at an impressive 2,208 TB in 2022, which is thrice the rate in 2021 (700 TB). Hence, the swift escalation of data volume will foster the expansion of the data preparation tools market.
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What growth opportunities are expected to drive the data preparation tools market's CAGR through 2034?
The market size for data preparation tools has seen a dramatic expansion recently. It's projected to escalate from $7.79 billion in 2024 to $9.59 billion in 2025, experiencing a compound annual growth rate (CAGR) of 23.2%. Factors contributing to the growth observed during the historical period include the escalating intricacy of data formats and origins, which in turn require more advanced tools, the rise of data preparation services known as DPaaS, the integration of data virtualization technology in the preparation process, the creation of data preparation solutions tailored for specific industries, and the implementation of federated learning techniques for distributed data preparation tasks.
Expectations are set for a significant expansion in the data preparation tools market size in the coming years. The market is forecasted to increase to $21.84 billion by 2029 at a compound annual growth rate (CAGR) of 22.8%. This predicted surge during the forecast period is due to factors like the utilization of edge AI for on-device data prep tasks, increased use of AI and machine learning for data prep tasks, a growing demand for autonomous data preparation tools, and an increasing requirement for data quality and governance in preparation process. The call for real-time data preparation capabilities is also stoking this growth. Key trends during the forecast period involve technological progress, the expansion of big data and IoT leading to an increased demand for scalable data preparation solutions, collaboration tools for team-based data prep projects, use of federated learning strategies for shared data prep tasks, and the merging of data prep with data governance and stewardship platforms.
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What are the emerging trends shaping the future of the data preparation tools market?
Data preparation tools market's significant players concentrate on creating cutting-edge technologies, like SnapGPT, to enhance the efficiency of data pipeline creation. This tool is a generative AI system capable of producing unique and new content across many formats such as audio, code, images, text, videos, and simulations. For example, SnapLogic, a software company based in the US, introduced SnapGPT in August 2023. It's a generative AI tool specifically crafted to simplify the process of developing data pipelines, thus providing a speedier and user-friendlier method for integration tasks. It can create precise and effective queries and convert data from one format to another, providing a rapid and more user-friendly way to accomplish integration tasks. Moreover, it is equipped with features like text recognition, image recognition, speech-to-text, pipeline creation, and quick integration prototyping. All these features, combined, make it a potent tool for data integration, combining the power of AI with user friendliness to facilitate the process of data pipeline and workflow creation.
Which growth-oriented segments of the data preparation tools market are leading the industry's development?
The data preparation tools market covered in this report is segmented -
1) By Platform: Self-Service, Data Integration
2) By Deployment Mode: On-Premises, Cloud
3) By Function: Data Collection, Data Cataloging, Data Quality, Data Governance, Data Ingestion, Data Curation
4) By Vertical: Information Technology (IT) And Telecom, Retail And E-Commerce, Banking, Financial Services, And Insurance (BFSI), Government, Healthcare, Energy And Utilities, Transportation, Manufacturing, Other Verticals
Subsegments:
1) By Self-Service: Data Wrangling, Data Cleansing, Data Transformation, Data Visualization, Data Profiling, Automated Data Preparation
2) By Data Integration: Data Aggregation, ETL (Extract, Transform, Load) Integration, Data Pipeline Management, Real-time Data Integration, Cloud Data Integration, Data Migration And Synchronization
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What regions are leading the charge in the data preparation tools market?
North America was the largest region in the data preparation tools market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data preparation tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the data preparation tools market?
Major companies operating in the data preparation tools market are Amazon Web Services Inc., Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce.com Inc., SAS Institute Inc., Hitachi Vantara Corporation, Teradata Corporation, Informatica Inc., Tibco Software Inc., Zoho DataPrep, Quest Software Inc., Alteryx Inc., Rapid Insight Inc., QlikTech International AB, Altair Engineering Inc., Micro Strategy Incorporated, DataRobot Inc., Dataiku Inc., Datawatch Corporation, Unifi Software Inc., Datameer Inc., InfluxData Inc
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What Is Covered In The Data Preparation Tools Global Market Report?
• Market Size Forecast: Examine the data preparation tools market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the data preparation tools market for a structured understanding.
• Key Players Overview: Analyze major players in the data preparation tools market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the data preparation tools market.
• Segment Contributions: Evaluate how different segments drive overall growth in the data preparation tools market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the data preparation tools market.
• Industry Challenges: Identify potential risks and obstacles affecting the data preparation tools market.
• Competitive Landscape: Review strategic developments in the data preparation tools market, including expansions, agreements, and new product launches.
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