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on August 26, 2024
The latest report by IMARC Group, titled “Data Wrangling Market Report by Component (Solution, Service), Deployment Mode (On-premises, Cloud-based), Organization Size (Large Enterprises, Small and Medium Enterprises), Business Function (Finance, Marketing and Sales, Operations, Human Resources), Industry Vertical (BFSI, Government and Public Sector, Healthcare and Life Science, Retail and E-commerce, Media and Entertainment, IT and Telecom, Manufacturing, and Others), and Region 2024-2032“, The global data wrangling market size reached US$ 3.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.6 Billion by 2032, exhibiting a growth rate (CAGR) of 14.6% during 2024-2032.
Factors Affecting the Growth of the Data Wrangling Industry:
- Rising Demand for Data-Driven Insights:
Businesses widely rely on data to inform their strategic decisions, making the need for accurate and actionable insights more pressing than ever. As organizations accumulate vast amounts of data, often from diverse sources, data wrangling becomes critical in transforming this raw information into a usable format. Moreover, data wrangling involves cleaning, structuring, and enriching data so that it can be effectively analyzed. As a result, there is a growing demand for advanced data preparation tools that can automate and streamline data wrangling, enabling businesses to derive insights more quickly and efficiently. This trend is particularly strong in industries where timely decision-making is crucial, such as finance, healthcare, and retail, driving the adoption of sophisticated data-wrangling solutions that ensure data accuracy and usability.
- Advancements in Data Technologies:
Recent innovations in data technologies, including big data platforms, cloud computing, and machine learning, have significantly enhanced the capabilities of data wrangling. These advancements allow for more efficient processing of large datasets, reducing the time and resources required to prepare data for analysis. Additionally, cloud computing offers scalable storage and processing power, enabling organizations to manage vast amounts of data without the need for extensive on-premises infrastructure. Moreover, machine learning algorithms can automate parts of the data-wrangling process, such as identifying patterns, filling in missing values, or even predicting future trends based on historical data. These technological improvements make data wrangling more accessible and effective, encouraging businesses to adopt more advanced data preparation tools. As a result, organizations are better equipped to handle the increasing complexity of their data, allowing for deeper insights and more informed decision-making.
- Growing Analytics and BI tools:
The widespread adoption of analytics and business intelligence (BI) tools across various industries is escalating the demand for well-prepared, high-quality data. These tools are designed to provide insights that drive business performance, and their effectiveness is directly tied to the quality of the data they process. Additionally, poor-quality data can lead to incorrect analyses and flawed decision-making, undermining the value of even the most advanced BI tools. Moreover, data wrangling plays a pivotal role in ensuring that the data fed into these tools is accurate, consistent, and free from errors. Besides this, organizations can maximize the effectiveness of their BI tools by cleaning and structuring data before it enters the analytics pipeline. As the use of analytics and BI tools continues to increase, the demand for robust data-wrangling solutions that can ensure data integrity and support reliable business insights is propelling the market growth.
Competitive Landscape with Key Player:
- ALTERYX INC.
- Altair Engineering Inc.
- Hitachi Vantara Corporation
- Impetus Technologies Inc
- International Business Machines Corporation
- Oracle Corporation
- SAS Institute Inc.
- Teradata Corporation
- TIBCO Software Inc
- Trifacta Software Inc.
Request Sample For PDF Report: https://www.imarcgroup.com/data-wrangling-market/requestsample
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Component:
- Solution
- Service
The solution represents the largest segment due to organizations prioritizing comprehensive tools that automate and streamline the complex data-wrangling process.
Breakup by Deployment Mode:
- On-premises
- Cloud-based
On-premises account for the largest market share due to concerns around data security and compliance, particularly in industries handling sensitive information.
Breakup by Organization Size:
- Large Enterprises
- Small and Medium Enterprises
Large enterprises dominate the market growth as they require advanced data-wrangling solutions to manage vast amounts of data from diverse sources.
Breakup by Business Function:
- Finance
- Marketing and Sales
- Operations
- Human Resources
Operations hold the largest market share due to efficient data wrangling which is critical for optimizing operational processes and decision-making.
Breakup by Industry Vertical:
- BFSI
- Government and Public Sector
- Healthcare and Life Science
- Retail and E-commerce
- Media and Entertainment
- IT and Telecom
- Manufacturing
- Others
BFSI represents the largest segment as the financial sector relies heavily on precise data management for regulatory compliance and risk assessment.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America’s dominance in the data-wrangling market is attributed to the early adoption of advanced data technologies and the strong presence of key industry players.
Global Data Wrangling Market Trends:
At present, the integration of artificial intelligence (AI) and machine learning (ML) technologies is becoming increasingly common in data-wrangling tools. These technologies enhance the automation and efficiency of data preparation tasks, enabling faster and more accurate data processing. Moreover, ensuring data quality and compliance with governance standards is a top priority for organizations. Along with this, data wrangling tools include features that enhance data validation, cleansing, and governance, helping organizations maintain high-quality data and meet regulatory requirements. Furthermore, the growing use of big data technologies, such as Hadoop and Spark, is influencing the development of data-wrangling tools. These tools are widely designed to integrate seamlessly with big data platforms, facilitating the processing and analysis of large-scale datasets.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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Posted in: Business