The global data quality tools market reached a value of US$ 1.4 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 4 Billion by 2027, exhibiting a CAGR of 18.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Data quality tools refer to various software applications that are used for analyzing datasets and converting them into meaningful information to identify and resolve problems. The tools perform functions such as data validation, standardization, monitoring, enrichment, cleansing, matching, parsing and data profiling. They are used by the organizations for processing data related to consumer behavior, products, suppliers, finances and marketing. They also aid in enhancing the accuracy, completeness and consistency of the information across various departments in the organization. Owing to this, these tools find extensive applications across various industries, including banking, financial services and insurance (BFSI), information technology (IT), telecommunications, healthcare, retail and manufacturing.
Significant growth in information technology (IT) industry is one of the key factors driving the growth of the market. Furthermore, the emerging trend of digitization across the globe, which has led to the creation of large volumes of digital business data, is also providing a boost to the market growth. In line with this, widespread adoption of data quality tools that are combined with data integration systems and mobile device management (MDM) products to create structured processes, manage tasks, track problems and maintain workflow efficiency in the organization, is also contributing to the market growth. Additionally, increasing product utilization in the healthcare and life science sectors is acting as another growth-inducing factor. Data quality tools are being increasingly used to maintain patient records, inventory, hospital systems, administration information and financial data. Apart from this, the development of cloud-based data quality tools and increasing integration with the Internet of Things (IoT) is also impacting the market growth positively.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global data quality tools market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on data type, functionality, component, deployment type, organization size and vertical.
Breakup by Data Type: Customer Data
Breakup by Functionality: Data Validation
Data Enrichment and Cleansing
Breakup by Component: Software
Breakup by Deployment Type: Cloud-based
Breakup by Organization Size: Small and Medium Enterprises
Breakup by Vertical: Banking, Financial Services and Insurance
Telecommunication and IT
Retail and E-Commerce
Healthcare and Life Science
Energy and Utilities
Media and Entertainment
Breakup by Region: North America
Middle East and Africa
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being Ataccama Corporation (Adastra Corporation), Experian PLC, International Business Machines, Informatica LLC, Information Builders Inc., Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Syncsort Incorporated, Talend Inc., Tamr Inc. and Trianz Inc.,
Key Questions Answered in This Report:
How has the global data quality tools market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global data quality tools market?
What is the breakup of the market based on the data type?
What is the breakup of the market based on the functionality?
What is the breakup of the market based on the component?
What is the breakup of the market based on the deployment type?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global data quality tools market and who are the key players?
What is the degree of competition in the industry?
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