Data Quality Tool Market is Estimated to Grow by 16.07% of CAGR during 2024-2032

MRFR Press Release/- Market Research Future published a half-cooked research report on Data Quality Tool Market.

Data Quality Tool Market Overview

The Data Quality Tool Market is projected to grow from USD 2.09 billion in 2024 to USD 6.91 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.07% during the forecast period (2024 - 2032). 

The data quality tool system solutions enable organizations for better understanding of customer needs, improving the quality of service, future predictions and business growth. The tools are increasingly implemented in support of data quality improvement initiatives. Increasing usage of external data sources and the growing volume of business data are the factors boosting the growth of the data quality tool market.

Data Quality Tool Market

According to Market Research Future, market has been segmented into component, data type, deployment, organization size, vertical and region.

On the basis of deployment, the market has been bifurcated into on-demand and on-premises. Out of these deployment, on-demand accounted for the largest market share majorly due to cost benefits and speed of deployment. However, on-premises segment is expected to boost the market over the forecast period, 2024-2032. The reason is attributed to increasing number of large enterprises which require storage of data and security concerns.

On the basis of region, the market has been segmented into North-America, Europe, Asia-Pacific and Rest of the world. North American region dominated the digital asset management market.

The key players in the global data quality tool market include SAP SE (Germany), Microsoft Corporation (US), IBM Corporation (US), Experian Data Quality (US), SAS Institute Inc. (US), Informatica Corporation (US), Pitney Bowes (US), Information Builder (US), Oracle Corporation (US), Tamr (US), Talend (US), Syncsort (US) and Trianz (US) among others.

Market Research Future Analysis

Asia-Pacific region is expected to boost the market over the forecast period, 2024-2032. Countries such as India and China contributes largely to the growth of the market. The reason is attributed to increasing awareness, technological advancements and increasing demand for data management. Furthermore, data quality tools market has an immense scope in this region majorly due to presence of large number of small and medium sized enterprises.

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