Data Quality Tools Market: Global Industry Analysis and Forecast (2022-2029) by Deployment Type, Data Type, Business Function, Industry and, Region

Data Quality Tools Market size was valued at US$ 1.00 Billion in 2021 and the total data quality tools revenue is expected to grow at 17.7% through 2021 to 2029, reaching nearly US$ 3.68 Billion.

Data Quality Tools Market Overview:

The status of qualitative or quantitative information is referred to as data quality. There are several definitions of data quality, but in general, data is deemed high quality if it is suited for its intended usage in operations, decision making, and planning. Furthermore, data is considered high-quality if it accurately depicts the real-world construct to which it relates. The importance of excellent data quality in companies is growing in order to provide more actionable insights, which will drive the growth of the data quality tools market throughout the projected period (2021-2029). Data Quality Tools Market To know about the Research Methodology :- Request Free Sample Report The advancement of technology is a key component contributing to the data explosion. Furthermore, the fall in gadget prices increased consumer accessibility to smart gadgets, and sophisticated computing tools have all contributed to the current data surge. The ever-increasing volume of knowledge has resulted in complicated data formats, therefore comprehending and assessing the knowledge from this collected data for quick actionable choices is expected to fuel the growth of the info quality tools market. One of the primary reasons driving market growth is a significant growth in the IT industry. Furthermore, the global digitization movement, which has resulted in the generation of massive amounts of digital corporate data, is boosting the market growth. Accordingly, growing usage of data quality tools paired with data integration systems and mobile devices to develop organized processes, manage activities, track problems, and maintain workflow efficiency in the business is also helping to market growth.

Data Quality Tools Market Dynamics:

The increasing investment in data quality across cloud and big data, increasing the reliability of data for strategic decision making across different organizations, and changing regulatory compliance requirements for data quality across various industries are the key factors driving the global data quality tools market's growth. Furthermore, the growing concern to maintain a standard data quality discipline across various organizations globally, as well as rising interest in finding creative methods to expand systematic information governance programs within organizations, drives the global data quality tools market's growth. There are some roadblocks and constraints that will impede overall market growth. High costs, less flexible pricing structures, and longer implementation times are possible barriers to the global data quality tools market's overall growth. Furthermore, integration affects data timeliness, and complicated data architectures hinder market growth. Nonetheless, technological developments and the emergence of artificial intelligence for data quality provide good growth potential. The high cost of implementation is one of the key problems that firms that are deploying these data quality technologies confront. Due to the high cost, numerous small and medium-sized businesses may refrain from adopting these tools, hampered the overall growth of the data quality tools market throughout the projection period (2021-2029). Lack of awareness is a key factor impeding market growth. Enterprises with a high number of employees have been using innovative technologies to improve their performance, owing to the vast pool of data available to these businesses. Enterprises are aware of poor data quality and recognize that poor data may have a detrimental influence on their performance, revenue, sales, and profitability. However, many firms continue to use time-consuming and labor-intensive methods, such as manually correcting data inaccuracies. This is mostly due to a lack of information about the availability of new technology on the market.

Data Quality Tools Market Segment Analysis:

By Deployment Type, the market is sub-segmented into on-premises and cloud-based sub-segments. On-premises sub-segment held xx% share in the data quality tools market in the year 2021. The cloud-based sub-segment is expected to grow at the highest CAGR of xx% in the forecast period (2022-2029). This can be attributed to its cost-effectiveness, availability, scalability, and ease of deployment which are accelerating the demand for cloud-based deployment. By Data Type, market segment is further sub-segmented into Compliance data, Supplier data, Product data, Customer data and, financial data. Customer and financial data sub-segments held the highest market shares of xx% and xx% respectively in the year 2021. This can be attributed to the high growth of the E-Commerce sector in the COVID-19 pandemic in the same year. These sub-segments are also projected to witness the highest CAGR out of all data type sub-segments. By Business Function, The sub-segments are classified as Marketing, Sales, Finance, Legal, human resources and, Others. Finance and marketing sub-segments are projected to witness the highest CAGR of xx% and xx% respectively in the forecast period (2022-2029) out of all the business functions. This can be explained by large amounts of data of consumer finances and corporate finance records that require precise quality control. By Industry: The different industry sub-segments are Banking, Financial Services, and Insurance, Telecommunications and IT, Retail and E-Commerce, Healthcare, Manufacturing, Government, Others. BFSI, Healthcare and Retail & E-Commerce held the highest shares in the data quality tools market in the year 2021. These sub-segments are also projected to grow at a high CAGR rate than other sub-segments in the forecast period (2022-2029). This growth can be attributed to bank customer data management, increasing quality in patient data or record monitoring, and high growth of online E-Commerce respectively.

Global Data Quality Tools Market Regional Insights:

The data quality tools market is seeing a rise in demand across the Asia Pacific region's growing economies, such as India and China, as the retail and e-commerce industries grow in popularity. Such factors are expected to drive market growth in the Asia Pacific region. North American region's unrivaled data expansion, powered by increased adherence to mobile and Internet of Thing technologies, the presence of significant data quality tools suppliers, demanding data-related regulatory compliances, and ongoing projects, is expected to drive the market in North America. The United States accounts for more than 25% of the global market size is 2021, while China is expected to grow at a 15.3% CAGR from 2021 to 2029. In the United States, the market for Data Quality Tools was worth US$250 Billion in 2021. The country presently controls 30 percent of the worldwide market. China, the world's second-biggest economy, is expected to reach a market size of US$430 Billion in 2029, with a CAGR of 16% through 2029. Other notable geographic markets include Japan and Canada, which are expected to grow at 14% and 14.5% respectively, between 2021 and 2029. Within Europe, Germany is expected to develop at a 13% CAGR, while the rest of the European market is projected to reach US$450 Billion by 2029. The objective of the report is to present a comprehensive analysis of the global Data Quality Tools market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Data Quality Tools market dynamics, structure by analyzing the market segments and projecting the global Data Quality Tools market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Data Quality Tools market make the report investor’s guide.

Global Data Quality Tools Market Scope: Inquire before buying

Global Data Quality Tools Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2021-2029
Historical Data: 2016 to 2021 Market Size in 2021: US $ 1.00 Billion.
Forecast Period 2022 to 2029 CAGR: 17.7 % Market Size in 2029: US $ 3.68 Billion.
Segments Covered: by Deployment Type • On-premises • Cloud-Based
by Data Type • Compliance data • Supplier data • Product data • Customer data • Financial data
by Business Function • Marketing • Sales • Finance • Legal • Human resources • Other
by Industry • Banking, Financial Services, and Insurance (BFSI) • Telecommunications and IT • Retail and E-Commerce • Healthcare • Manufacturing • Government • Others

Global Data Quality Tools Market, by Region

• North America • Europe • Asia Pacific • The Middle East and Africa • South America

Global Data Quality Tools Market Key Players

Talend • Pitney Bowes • RedPoint • Microsoft Corporation • Syncsort • Tamr • Trianz Inc. • Accenture Plc • DQ Global • Informatica • IBM • SAS • SAP • Oracle • Trillium Software • Information Builder • Experian • Ataccama

FAQs:

1. Which is the potential market for Data Quality tools in terms of the region? Ans. The data quality tools market is seeing a boom in demand across the Asia Pacific region's growing economies, such as India and China, as the retail and e-commerce industries grow in popularity. 2. What are the opportunities for new market entrants? Ans. The advancement of technology is the key opportunity contributing to the data explosion. Furthermore, the fall in gadget prices increased consumer accessibility to smart gadgets, and sophisticated computing tools have all contributed to the current data surge. 3. What is expected to drive the growth of the market in the forecast period? Ans. One of the primary reasons driving market growth is a significant growth in the IT industry. 4. What is the projected market size & growth rate of the Data Quality Tools Market? Ans. Data Quality Tools Market size was valued at US$ 1.00 Billion in 2021 and the total data quality tools revenue is expected to grow at 17.7% through 2022 to 2029, reaching nearly US$ 3.68 Billion. 5. What segments are covered in the Data Quality Tools Market report? Ans. The data quality tools market is segmented by Deployment Type, Data Type, Business Function, Industry and, Region.
1. Data Quality Tools Market: Research Methodology 2. Data Quality Tools Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Data Quality Tools Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Data Quality Tools Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Data Quality Tools Market Segmentation 4.1 Data Quality Tools Market, by Deployment Type (2021-2029) • On-premises • Cloud-Based 4.2 Data Quality Tools Market, by Data Type (2021-2029) • Compliance data • Supplier data • Product data • Customer data • Financial data 4.3 Data Quality Tools Market, by Business Function (2021-2029) • Marketing • Sales • Finance • Legal • Human resources • Other 4.4 4.4 Data Quality Tools Market, by Industry (2021-2029) • Banking, Financial Services, and Insurance (BFSI) • Telecommunications and IT • Retail and E-Commerce • Healthcare • Manufacturing • Government • Others 5 North America Tax Management Market(2021-2029) 5.1 Data Quality Tools Market, by Deployment Type (2021-2029) • On-premises • Cloud-Based 5.2 Data Quality Tools Market, by Data Type (2021-2029) • Compliance data • Supplier data • Product data • Customer data • Financial data 5.3 Data Quality Tools Market, by Business Function (2021-2029) • Marketing • Sales • Finance • Legal • Human resources • Other 5.4 Data Quality Tools Market, by Industry (2021-2029) • Banking, Financial Services, and Insurance (BFSI) • Telecommunications and IT • Retail and E-Commerce • Healthcare • Manufacturing • Government • Others 5.5 North America Tax Management Market, by Country (2021-2029) • United States • Canada • Mexico 6 Asia Pacific Tax Management Market (2021-2029) 6.1. Asia Pacific Tax Management Market, by Deployment Type (2021-2029) 6.2. Asia Pacific Tax Management Market, by Data Type (2021-2029) 6.3. Asia Pacific Tax Management Market, by Business Function (2021-2029) 6.4. Asia Pacific Tax Management Market, by Industry (2021-2029) 6.5. Asia Pacific Tax Management Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7 The Middle East and Africa Tax Management Market (2021-2029) 7.1 Middle East and Africa Tax Management Market, by Deployment Type (2021-2029) 7.2. Middle East and Africa Tax Management Market, by Data Type (2021-2029) 7.3. Middle East and Africa Tax Management Market, by Business Function (2021-2029) 7.4. Middle East and Africa Tax Management Market, by Industry (2021-2029) 7.5. Middle East and Africa Tax Management Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8 Latin America Tax Management Market (2021-2029) 8.1. Latin America Tax Management Market, by Deployment Type (2021-2029) 8.2. Latin America Tax Management Market, by Data Type (2021-2029) 8.3. Latin America Tax Management Market, by Business Function (2021-2029) 8.4. Latin America Tax Management Market, by Industry (2021-2029) 8.5. Latin America Tax Management Market, by Country (2021-2029) • Brazil • Argentina • Rest Of Latin America 9 European Tax Management Market (2021-2029) 9.1. European Tax Management Market, by Deployment Type (2021-2029) 9.2. European Tax Management Market, by Data Type (2021-2029) 9.3. European Tax Management Market, by Business Function (2021-2029) 9.4. European Tax Management Market, by Industry (2021-2029) 9.5. European Tax Management Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10 Company Profile: Key players 10.1 Talend 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Pitney Bowes 10.3 RedPoint 10.4 Microsoft Corporation 10.5 Syncsort 10.6 Tamr 10.7 Trianz Inc. 10.8 Accenture Plc 10.9 DQ Global 10.10 Informatica 10.11 IBM 10.12 SAS 10.13 SAP 10.14 Oracle 10.15 Trillium Software 10.16 Information Builders 10.17 Experian 10.18 Ataccama

About This Report

Report ID 6945
Category Information Technology & Telecommunication
Published Date Nov 2019
Updated Date Nov 2021
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