Published on : Feb 20, 2018
ALBANY, New York, Feb 20, 2018: The 83-paged, exhaustive study added to the ICT archive includes the future analysis and future prospects of the industry, including market share and size on account of risk factors, along with updates on the global data quality tools market trends and opportunities.
Data quality tools are gaining traction in a plethora of enterprises as organizations have awakened to the importance of extracting meaningful insights from a pool of data generated within their multiple systems. The rapid growth of big data with the proliferation of Internet of Things (IoT) devices is expected to have significantly fueled the need of efficient data quality tools that would be instrumental to perambulate down the data required to analyze and take decisions. The data quality providing enterprises offer a number of products/services such as standardization, monitoring, profiling and enrichment of data.
The increased volumes of business exchanges across various industries over the globe is a primary factor acting as a catalyst to the rise of the data quality market. The need to standardize and carry out clean exchanges, leading to increased efficiency of business operation is a vital market factor. Data quality tools equip organizations with the ability to enhance the quality of their data, and aid in better data management.
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The global data quality tools market is primarily segmented on the basis of type of deployment, end-user and region. On the basis of deployment, the market is classified into cloud and on-premises. In the year 2015, the segment of on-premises data quality tools prevailed, and the trend is expected to continue over the coming years. This could be due to the fact that these tools provide customization, allowing companies to gain improved control over their data quality operation. Geographically, the market is dominated by the Americas, accounting for almost half of the total revenue in the year 2015.
The perpetual progress in organization-wide performance visibility is expected to provide rich opportunity to the worldwide market for data quality tools. The resultant transparency between both business users and the enterprise will aid in making strategic business decisions. Data quality tools have known grown beyond the scope of primitive CRM-based activities and enterprises are expected to implement these tools on a gargantuan scale. Fields such as financial data and product are anticipated to encounter high demand for data quality tools over the coming years.
The competitive landscape of the market is evolving rapidly, with solution available from both established players and new market entrants. Players are expected to further improve their product portfolio and delivery models, offering attractive and unique features to their offering. Some of the leading vendors of the global data quality tools market are SAP, IBM, Oracle, Informatica, Trillium Software and SAS Institute.
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