Data Quality Tools Market Size Covers Global Industry Analysis, Size, Share, CAGR, Trends, Forecast and Business Opportunity.
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Global Data Quality Tools Market to reach USD 2655 million by 2025.
Global Data Quality Tools Market valued approximately USD 720 million in 2017 is anticipated to grow with a healthy growth rate of more than 17.72% over the forecast period 2018-2025. The major driving factor of global data quality tools market are rising investment in data quality, increasing reliability of data for strategic decision making and changing regulatory compliance requirements for data quality across various industries. The use of data quality tools for marketing purposes will be one of the primary factors fueling the growth of the data quality tools market in the coming years. Moreover, 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. The major restraining factors of global data quality tools are high implementations costs, longer deployment time and lack of awareness about data quality tools applications & use and data security concerns resulting in large-scale adoption of cloud –based systems. Data quality tool enhances the quality of the data through various standardized processes, in order to maintain the quality of the data as per specific industry standards. Data quality tools address the critical issues in all areas of information resources management, typically across various critical applications, including CRM, ERP, and BI. There are many benefits of data quality tools such as it enhances the accuracy, timeliness, completeness, and consistency of information across various enterprise operations, data quality tools enable an organization to complete a project correctly the first time around and it also helps in increasing customer satisfaction.
The regional analysis of Global Data Quality Tools Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America accounted leading share of total generating revenue in 2017 across the globe due to expanding enterprise information management initiatives across various industries. Asia-Pacific region region is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025, due to growing interest on data quality improvement solutions and rising focus on data driven technical and strategic decision making practices.
The major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Data Quality Tools Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
Key factors influencing market growth:
- New application developments and product designs.
- Falling prices of the Data Quality Tools.
- Strict government norms along with the administrative support and R&D subsidization.
- Geographic expansion by major market players as well as new entrants.
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Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
To summarize, the Data Quality Tools market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry. The market factors impacting the global sector also include provincial trade policies, international trade disputes, entry barriers, and other regulatory restrictions.
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