Data Quality Tools Market To Report Impressive Growth, Revenue To Surge To US$1283.83 Million by 2022

21-Nov-2017 | Zion Market Research

With the presence of a large pool of participants, the Global data quality tools market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Microsoft Corporation, Pitney Bowes Inc., Syncsort, International Business Machines Corporation, Informatica, and Oracle Corporation are some of the key vendors of data quality tools across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the data quality tools market study.

Citing an instance, in August 2018, Erwin Inc.—a data governance firm—declared the acquisition of AnalytiX DS, a metadata management & data governance provider, thereby supporting the Erwin’s EDGE Data Governance Platform through a wide set of metadata connectors, data mapping, cataloging, and automated code generating tools. Analysts predict that the strategic decision will assist Erwin in accelerating the data transformation into authentic & actionable business insights through application of advanced versions of the data management protocols, tools & products as well as data governance lifecycle models.

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As estimated in this report, the global data quality tools market stood at US$ 505.65 million in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in this data quality tools market is expected to reach US$ 1,283.83 million by the end of the forecast period. The main data types available in this data quality tools market are Financial Data, Supplier Data, Customer Data, and Product Data. Among the four, the demand for customer data is relatively higher and the trend is anticipated to remain so over the next few years, notes the data quality tools market research report.

Browse the full " Data Quality Tools Market by Data Type (Financial Data, Supplier Data, Customer Data, and Product Data), by Components (Software and Services) for Verticals (Banking, Financial Services, and Insurance (BFSI), Telecommunications and IT, Retail and E-commerce, Healthcare and Life Sciences, Manufacturing, and Government) - Global Industry Analysis, Size, Share, Growth, Trends, and forecast 2016 – 2022" report at http://www.zionmarketresearch.com/report/data-quality-tools-market

Growing Demand For Accruing High Quality Data To Enlarge Market Space

“Rise in the volume of business data across myriad firms along with mammoth need for acquiring high data quality in CRM and data integration activities is likely to propel the growth of data quality tools market in the years ahead,” says the author of this study. Apart from this, the need for enhancing the bottom-line performance by offering better customer engagement is expected to further drive data quality tools market trends. In addition, amplified preference for synchronizing data quality management tools within the organizations is expected to extend the scope of data quality tools business in the years to come.

Inception of new technologies such as IoT is likely to propel the demand for data quality tools in the near future. Lack of awareness about data quality tools applications & use and data security concerns resulting in large-scale adoption of cloud –based systems, however, is forecast to obstruct the progression of data quality tools market in the forthcoming years.

Data Quality Tools Market

Huge Applications In Enterprise Information Management To Aid Market Growth

Regionally, North America has been leading the worldwide data quality tools market and is anticipated to continue on the dominant position in the years to come, states the data quality tools market study. Enormous growth witnessed in enterprise information management activities is the main factor behind the dominance of the North America data quality tools market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional data quality tools market.

The global data quality tools market is segmented as follows:

By Data Type

  • Financial Data
  • Supplier Data
  • Customer Data
  • Product Data

By Component

  • Software
  • Services

By Vertical

  • Banking, Financial Services, and Insurance (BFSI)
  • Telecommunications and IT
  • Retail and E-commerce
  • Healthcare and Life Sciences
  • Manufacturing
  • Government

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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