The Data Quality Tool Market Size was valued at USD 1.5 Billion in 2022. The Data Quality Tool market industry is projected to grow from USD 1.77 Billion in 2023 to USD 6.91 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.5% during the forecast period (2023 - 2032). Increased IoT usage, severe data-related legal regulations, the existence of an abundance of suppliers, and a desire to enhance the efficiency of data are the key market drivers contributing to market growth and expansion.
Figure 1:Â Data Quality Tool Market Size, 2023-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The growing IoTÂ usage is driving the market growth
The market CAGR for data quality tools is driven by rising IoTÂ usage. The increasing expenditure in data quality throughout the cloud, big data, and hybrid settings, increased data reliability for strategic choices across various organizations, and altering compliance with regulations for data excellence across different sectors are the key factors driving the development of the Global Data Quality Tools market. Furthermore, the increasing need to maintain an established data quality control across various organizations globally and increasing interest in discovering novel methods to grow organized data governance programs within end-user organizations propel the Global Data Quality Tools marketplace forward.
A major development within the global data quality tools industry is the combination of data quality tools with tools for data integration and MDM solutions. Furthermore, the rising need to create organized processes for effective workflow, job management, and problem tracking across organizations of all sizes is likely to drive market development. There are some roadblocks and constraints that will hinder overall market expansion. 5G internet services, among other things, may expedite and improve digital activities such as online banking, online shopping, electronic procurement, and electronic payments. The deployment of 5G networks can allow digital processes to be completed quickly, efficiently, and effectively. As a result, such network enhancements might open up new potential for the worldwide industry to grow faster.
Covid-19 had a favorable influence on the market for data quality tools. The COVID-19 pandemic is generating large amounts of data from numerous sources, including hospitalizations, rates of infection, and fatalities per 100,000 people, all of which are available in seconds. Despite massive amounts of data, individuals rarely have a better grasp of what's happening, and enormous COVID-19 data sets can only sometimes be transformed into better decisions. It's also critical to comprehend the background of the data, including how it was generated, information around every attribute, the date it was last edited, and the integrity of the information to determine if it's suitable for using machine learning.
For instance, according to Cisco's annual Internet study, the total Internet users will grow by 6% yearly, from 3.9 billion in 2018 to 5.3 billion in 2023. Regarding people, it represented 51% of the worldwide population in 2018 and will account for 66% of global demographic saturation by 2023. Thus, it is anticipated that demand for Data Quality Tools will increase throughout the projected timeframe due to the rising IoTÂ usage. Thus, driving the Data Quality Tool market revenue.
The global Data Quality Tool market segmentation, based on Components, includes Solutions and Services. The Solutions segment dominated the market, accounting for 54% of market revenue (USD 0.81 Billion) in 2022. Data quality tool suppliers concentrate on giving an extensive selection of solutions to boost market connection with their key clients.
The global Data Quality Tool market segmentation, based on Data, includes consumer data and producer data. The consumer data category generated the highest market revenue of about 75% (USD 1.1 billion) in 2022. The greater the precision of the data, the better the judgments, and money being the important determining component, it is one of the primary causes of market expansion.
Figure 2: Global Data Quality Tool Market, by Data, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on deployment, the global Data Quality Tool market segmentation includes On-premises and on-demand. The on-premises segment dominated the market, accounting for 63% of market revenue (USD 0.95 Billion) in 2022. On the other hand, the on-demand deployment strategy is expected to grow at the fastest rate throughout the projected period. The affordability, access, scaling, and convenience of deployment drive the need for an on-demand installation paradigm.
By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Data Quality Tool market area will dominate this market during the projected timeframe because of the region's vast data development, the expanding use of the IoT, legal data compliances, and rising demand from a large number of suppliers, which will boost the market growth in the North American region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Global Data Quality Tool Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Data Quality Tool market accounts for the second-highest market share due to the This is due to a greater emphasis on the quality of data improvement remedies, as well as a greater focus on data-driven analytical and business decisions. Further, the German Data Quality Tool market holds the largest market share, and the UK Data Quality Tool market is expected to grow and expand significantly in the European region during the projected timeframe.
The Asia-Pacific Data Quality Tool Market is expected to grow quickly during the projected timeframe. This is because of the increasing demand for digitization and increased knowledge of new technological solutions. Moreover, China’s Data Quality Tool market dominates the market share, and the Indian Data Quality Tool market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.
Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Data Quality Tool market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their global footprint, with significant market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Data Quality Tool industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the global Data Quality Tool industry to benefit customers and capture untapped market share and revenue. The Data Quality Tool industry has recently offered significant advantages to the software industry. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the Data Quality Tool market, including 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), are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.
IBM (International Business Machines) is a computer, technology, and IT consulting firm headquartered in the United States. It is the world's largest technology business and the second most valuable worldwide brand. It produces and sells software and computer components, web hosting, and consulting services in fields including mainframe systems and nanotechnology. On June 16, 1911, Charles Ranlett Flint and Thomas J. Watson Sr. created the corporation, which is located in Armonk, New York. IBM and Francisco Partners disclosed the execution of a definitive contract under which Francisco Partners will purchase medical care information and analytics resources from IBM, which are currently part of the IBM Watson Health business, in January 2022.
Informatica Inc. is a software company. The company provides a full-stack information management system that integrates, maintains, and integrates data throughout any multi-cloud, hybrid system, allowing businesses to modernize and progress their data strategy. Informatica has customers all across the world. Informatica LLC announced an important cloud storage agreement with Google Cloud in October 2021. This collaboration allows Informatica clients to transition to Google Cloud as much as twelve times quicker. Informatica's Google Cloud Marketplace transactable solutions now incorporate Master Data Administration and Data Governance capabilities.
January 2022:  IBM and Francisco Partners disclosed the execution of a definitive contract under which Francisco Partners will purchase medical care information and analytics resources from IBM, which are currently part of the IBM Watson Health business.
October 2021: Informatica LLC announced an important cloud storage agreement with Google Cloud in October 2021. This collaboration allows Informatica clients to transition to Google Cloud as much as twelve times quicker. Informatica's Google Cloud Marketplace transactable solutions now incorporate Master Data Administration and Data Governance capabilities.
Completing a unit of labor with incorrect data costs ten times more estimates than the Harvard Business Review, and finding the correct data for effective tools has never been difficult. A reliable system may be implemented by selecting and deploying intelligent workflow-driven, self-service options tools for data quality with inbuilt quality controls.
Solutions
Services
Consumer data
Producer data
On-Premises
On-demand
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.5 Billion |
| Market Size 2023 | USD 1.77 Billion |
| Market Size 2032 | USD 6.91 Billion |
| Compound Annual Growth Rate (CAGR) | 18.5% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Data, Deployment, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â 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) |
| Key Market Opportunities | Increased IoT usage, strict data-related legal regulations, and the existence of an abundance of suppliers. |
| Key Market Dynamics | The increasing amount of company data, increased use of outside sources of data, increased legal pressure, and a desire to enhance the efficiency of data are all factors driving the expansion of the data quality tool marketplace. |
Data Quality Tool Market Highlights:
Frequently Asked Questions (FAQ) :
The Data Quality Tool market size was valued at USD 1.5 Billion in 2022.
The global market is projected to grow at a CAGR of 18.5% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are 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).
The Solutions category dominated the market in 2022.
Consumer data had the largest share of the global market.
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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