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Key Trends Influencing the Growth of the Data Preparation Software Market in 2025: Leading Companies Developing Advanced Solutions For Datafication Market Edge
Data Preparation Software Market
What Is the Expected CAGR for the Data Preparation Software Market Through 2025?
The market size of data preparation software has experienced substantial growth recently. It's projected to expand from $1.73 billion in 2024 to $1.97 billion in 2025, boasting a compound annual growth rate (CAGR) of 14.3%. This past period growth can be tied to the increased demand for data preparation within advanced analytics and AI applications, heightened investment in automating data preparation, the uptake of data preparation for projects involving data science and machine learning, growing requirements for data preparation within data lakes and data warehouses, as well as an escalating demand for data preparation in regulatory reporting.
What's the Projected Size of the Global Data Preparation Software Market by 2029?
The market size for data preparation software is predicted to experience a significant surge in the coming years. It is projected to increase to $3.35 billion in 2029, with a compounded annual growth rate (CAGR) of 14.1%. The expansion in the predicted timeframe can be credited to the incorporation of AI and machine learning features in data preparation software, technological progression, a shift towards adaptive and scalable data preparation platforms, and the amalgamation of data preparation with data governance structures and data integration platforms. Key trends during the forecast period will likely include AI and machine learning integration into data preparation software, technological upgrades, redesign towards adaptable and scalable data preparation platforms, merger of data preparation with data governance structures, and unification of data preparation with data integration platforms.
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Top Growth Drivers in the Data Preparation Software Industry: What's Accelerating the Market?
An upward trend in self-service data preparation tool needs is anticipated to encourage the expansion of data preparation software markets. These tools allow users to transform raw information into usable data without significant technical knowledge or the need for IT professionals. The growing intricacy and volume of data, coupled with the requirement for adaptability and accessibility in data analytics approaches, is driving this need. The data preparation software fosters this increasing demand by presenting solutions that simplify data cleansing, integrations, and enrichment, hence prompting the need for more user-friendly and efficient data preparation options. For example, as per GRUBBRR, a US-based software development firm, in July 2022, self-service kiosk technology is likely to represent 50% of income from 2022 to 2032. Additionally, predictions suggest that by 2028, the kiosk technology sector will hit $51.05 billion. Therefore, the rising demand for self-service data preparation tools is propelling the growth of the data preparation software market.
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What Trends Will Shape the Data Preparation Software Market Through 2029 and Beyond?
Leading firms in the data preparation software market are focusing on the creation of advanced solutions, such as the novel IBM business analytics enterprise software designed to dismantle data silos, in an effort to achieve market dominance. Such analytics enterprise software assists organizations in merging data from various sources and eradicating data silos, thus enabling fast data-guided decisions and equipping them to efficiently handle unforeseen disruptions. To illustrate, in November 2023, the US-based tech firm International Business Machines Corporation (IBM) introduced the IBM business analytics enterprise, a new software designed to dismantle data silos and optimize planning and analytics. Equipped with features like data silo dismantling and business intelligence functionalities, this platform also incorporates technological progresses like AI-assisted planning and multidimensional analysis. Its relevance in the datafication market is attributed to its ability to facilitate businesses to become more data-oriented by offering all-inclusive access to analytics instruments and dissembling data and analytics silos, thereby catalyzing optimized planning and data-guided decision-making.
What Are the Main Segments in the Data Preparation Software Market?
The data preparation software market covered in this report is segmented -
1) By Type: Cloud Based, Web Based
2) By Deployment: On-Premise, Hosted
3) By Pricing Model: Subscription, One-Time
4) By Functionality: Data Integration, Data Cleansing, Data Transformation, Data Profiling
5) By Industry Vertical: Banking, Financial Services, And Insurance (BFSI), Healthcare, Manufacturing, Retail, Telecom, Energy, Education
Subsegments:
1) By Cloud-Based: Public Cloud, Private Cloud, Hybrid Cloud, Multi-Cloud
2) By Web-Based: SaaS (Software As A Service), PaaS (Platform As A Service), On-Demand Web Applications
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Which Top Companies are Driving Growth in the Data Preparation Software Market?
Major companies operating in the data preparation software market are Amazon Web Services Inc., Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Salesforce.com Inc., SAS Institute Inc., SAP SE, Hitachi Vantara Corporation, NICE Ltd., Teradata Corporation, Informatica Inc., Tibco Software Inc., 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., Crate Tech Inc.
Which Regions Will Dominate the Data Preparation Software Market Through 2029?
North America was the largest region in the data preparation software market in 2024. The regions covered in the data preparation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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