Data Wrangling Market
Technological advancement such as AI and machine learning technologies in data wrangling drives the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATE, June 6, 2024 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” Why Invest in Data Wrangling Market Size Reach USD 5.58 Billion by 2026, Growing at a CAGR of 18.4%.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global data wrangling market size was valued at USD 1,458.69 million in 2018 and is projected to reach USD 5,581.18 million by 2026, growing at a CAGR of 18.40% from 2019 to 2026.
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Rise in adoption of big data analytics software among multiple organizations and increase in cloud-based big data analytics software adoption among SMEs drive the growth of the global data wrangling market. Asia-Pacific is projected to witness the fastest CAGR of 20.9% during the forecast period. Leading companies such as AWAS and C3.ai have launched their covid-19 data collection publicly for researchers to accelerate efforts to address pandemic.
The global data wrangling market is segmented into component, deployment model, organization size, business function, industry vertical, and region. In terms of component, it is bifurcated into solution and service. Based on deployment model, the market is segmented into on-premise and cloud. By organization size, it is divided into large enterprises and small-and medium-sized enterprises (SME’s). In terms of business function, the market is classified into finance, marketing & sales, operations and human resources. As per industry vertical, the market is segmented into BFSI, government & public sector, healthcare & life science, retail and e-commerce, media & entertainment, energy & utilities, IT & telecom, manufacturing, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Covid-19 Scenario:
● Market players have developed databases, tools, and analytics solutions with the help of experts, researchers, and analysts to predict COVID epidemiology.
● Leading companies such as AWAS and C3.ai have launched their covid-19 data collection publicly for researchers to avail vast amount of structured data and accelerate efforts to address pandemic.
● Governments have collaborated with tech companies to avail insights and take further decisions to curb the spread of coronavirus.
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Based on component, the solution segment held the major share in 2018, garnering nearly three-fourths of the global data wrangling market. The fact that data wrangling solutions are cheaper than other solutions and are faster to deploy has driven the growth of the segment. The service segment, on the other hand, would grow at the fastest CAGR of 20.8% throughout the forecast period. Rise in need of various services such as managed and professional services propels the segment growth.
Based on deployment, the on-premise segment contributed to nearly three-fifths of the global data wrangling market share in 2018, and is projected to dominate by the end of 2026. Increase in adoption of these systems due to enhanced security features provided by them has boosted the segment growth. Simultaneously, the cloud segment would cite the fastest CAGR of 20.1% from 2019 to 2026, owing to different services provided by the cloud.
Based on region, North America accounted for nearly two-fifths of the global data wrangling market revenue in 2018, and is anticipated to maintain the lion’s share by 2026, owing to its adoption among businesses in the region to effectively prepare data for getting accurate analytics for informed decision making. At the same time, Asia-Pacific would manifest the fastest CAGR of 20.9% during the study period. This is due to rise in digitalization in emerging economies such as China and India.
The report analyses the profiles of key players operating in the market IBM Corporation, Oracle Corporation, SAS institute, Tibco Software, Hitachi Vantara, Teradata Corporation, Alteryx, Impetus, Trifacta Software Inc., and Paxata Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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