Advancements in AI and ML technologies and increasing volume and velocity of data is propelling the market growth.
The Global Data Wrangling market is forecast to reach USD 5.12 Billion by 2026, according to a new report by Reports and Data. Data wrangling, also known as data munging, is the process of cleaning and unifying messy and intricate data sets for easy access and analysis. It mostly involves different sophisticated techniques for handling irregular or diverse data and deploying it for business use cases. A data wrangler is a person who carries out these change activities. This process may incorporate further munging, data visualization, data aggregation, training a statistical model, as well as many other potential uses. The market for data wrangling market is influenced by the rising BFSI industry.
The factors mentioned above collectively create opportunities for market growth, while factors such as limited levels of awareness among SMEs, and concerns pertaining to data quality pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the information & communications technology market owing to innovative efforts have enhanced the efficiency of the market tools.
The Asia Pacific region is forecasted to grow significantly during the forecast period. The region is projected to provide significant opportunities to the vendors in the regional market, and being a manufacturing hub, it is anticipated to adopt the data wrangling tools substantially, in order to remain cost-efficient and export high-quality goods abroad. Countries such as India, China, Australia, Japan, and Singapore are major adopters of data wrangling tools in the market. The usage of data wrangling has shifted from North America to Asia Pacific.
Key players include Oracle, IBM, Datawatch, Talend, Trifacta, SAS Institute, Alteryx, TIBCO Software, Dataiku, and Hitachi Vantara, among others.
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Further key findings from the report suggest
- The data wrangling tools segment held a larger market share of 63.7% in the year 2018. The data wrangling tools incorporates functions, such as reformatting, filtering, de-duping, and cleaning data, for proper analysis purpose. Moreover, the self-service data preparation model helps organizations to clean data sets by themselves without requiring data scientists. These factors are driving the adoption of data wrangling tools in the market.
- The cloud segment is forecasted to grow with a higher CAGR of 20.6% during the forecast period. This is because it is one cheaper alternative to the on-premise deployment. By using cloud-based deployment, organizations can avoid a large amount of cost related to installing hardware & software, maintenance cost, and staff.
- Small and medium-sized enterprises segment is forecasted to grow with a higher CAGR of 20.4% during the forecast period. As the market for data wrangling market is very competitive, the adoption of these tools among the small and medium-sized enterprises will be at a significant rate in order to sustain in the market.
- The Asia Pacific region is forecasted to grow with the highest CAGR of 20.3% during the forecast period. The growth is attributed to the proliferation of IoT devices and the growing number of smart cities in the Asia Pacific region.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/data-wrangling-market
For the purpose of this report, Reports and Data have segmented into the global Data Wrangling market on the basis of component, organization size, deployment type, business function, end-users, and region:
Component Outlook (Revenue, USD Billion; 2016-2026)
Organization Size Outlook (Revenue, USD Billion; 2016-2026)
- Small and Medium-Sized Enterprises
- Large Enterprises
Deployment Type Outlook (Revenue, USD Billion; 2016-2026)
Business Function Outlook (Revenue, USD Billion; 2016-2026)
- Marketing and Sales
- Human Resources
End-Users Outlook (Revenue, USD Billion; 2016-2026)
- Government and Public Sector
- Healthcare and Life Sciences
- Retail and Ecommerce
- Telecommunication and IT
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Regional Outlook (Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
Finally, all aspects of the Data Wrangling market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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