Increasing global data volume i.e. in terabytes and petabytes, across various business sectors is the key factor contributes the growth of global data quality tools market. Data quality software enhances the quality of the data through various standardised process, in order to maintain the quality of the data according to specific industry standards. Data quality tools addresses the critical issue in all areas of information resources management, typically across various critical applications, including CRM, ERP, and BI. Data quality tools enhances the accuracy, timeliness, completeness, and consistency of information across various enterprise operations. Data quality tools available in the market are equipped with various functionalities, including data cleansing, data profiling, data matching, data standardization, data enrichment and data monitoring.
Expanding data quality investment across big data, cloud, and hybrid environments, increasing reliability of data for strategic decision making across various organizations, and changing regulatory compliance requirements for data quality across various industries, are the key factors drives the growth of global data quality tools market. Also, expanding business applications across varies industries and growing importance to create structured processes for efficient workflow, task management and issue tracking across organizations of all size, further expected to fuel the growth of global data quality tools market. However, high cost, less flexible pricing models and longer deployment time, are the factors identified as restraints likely to deter the progression of global data quality tools market
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The global data quality tools market is segmented on the basis of deployment type, component, end-user type and region. On the basis of deployment type, the global data quality tools market can be segmented into on-premises and cloud. On the basis of component the global data quality tools market can be segmented into profiling, parsing & standardization, generalized “cleansing”, matching. monitoring, and enrichment. On the basis of end user type, the global data quality tools market can be segmented into enterprise and government. Regionally, the global data quality tools market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan and Middle East & Africa.
Among all region data quality tools market in North America is expected to dominate the market, due to expanding enterprise information management initiatives across various industries. In terms of revenue Asia Pacific is identified as the fastest growing data quality tools market, due to growing interest on data quality improvement solutions and rising focus on data driven technical and strategic decision making practices.
Some of the prominent vendors in the global data quality tools market includes Informatica, IBM, SAP, SAS Institute Inc., Oracle, Trillium Software, Microsoft, Pitney Bowes Inc., Tamr, Experian Data Quality, BackOffice Associates, Talend, RedPoint Global Inc., Information Builders, and Alteryx, Inc.
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