Data Quality Tools Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Data Quality Tools Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global data quality tools market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 17.8% during 2023-2028.

Data quality tools refer to various software applications that are used for analyzing datasets and converting them into meaningful information to identify and resolve problems. The tools perform functions such as data validation, standardization, monitoring, enrichment, cleansing, matching, parsing and data profiling. They are used by the organizations for processing data related to consumer behavior, products, suppliers, finances and marketing. They also aid in enhancing the accuracy, completeness and consistency of the information across various departments in the organization. Owing to this, these tools find extensive applications across various industries, including banking, financial services and insurance (BFSI), information technology (IT), telecommunications, healthcare, retail and manufacturing.

Significant growth in information technology (IT) industry is one of the key factors driving the growth of the market. Furthermore, the emerging trend of digitization across the globe, which has led to the creation of large volumes of digital business data, is also providing a boost to the market growth. In line with this, widespread adoption of data quality tools that are combined with data integration systems and mobile device management (MDM) products to create structured processes, manage tasks, track problems and maintain workflow efficiency in the organization, is also contributing to the market growth. Additionally, increasing product utilization in the healthcare and life science sectors is acting as another growth-inducing factor. Data quality tools are being increasingly used to maintain patient records, inventory, hospital systems, administration information and financial data. Apart from this, the development of cloud-based data quality tools and increasing integration with the Internet of Things (IoT) is also impacting the market growth positively.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global data quality tools market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on data type, functionality, component, deployment type, organization size and vertical.

Breakup by Data Type:

Customer Data
Product Data
Financial Data
Compliance Data
Others

Breakup by Functionality:

Data Validation
Data Standardization
Data Enrichment and Cleansing
Data Monitoring
Others

Breakup by Component:

Software
Services

Professional Services
Managed Services

Breakup by Deployment Type:

Cloud-based
On-premises

Breakup by Organization Size:

Small and Medium Enterprises
Large Enterprises

Breakup by Vertical:

Banking, Financial Services and Insurance
Telecommunication and IT
Retail and E-Commerce
Healthcare and Life Science
Manufacturing
Government
Energy and Utilities
Media and Entertainment
Others

Breakup by Region:

North America

United States
Canada

Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Ataccama Corporation (Adastra Corporation), Experian PLC, International Business Machines, Informatica LLC, Information Builders Inc., Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Syncsort Incorporated, Talend Inc., Tamr Inc. and Trianz Inc.

Key Questions Answered in This Report

1. What was the size of the global data quality tools market in 2022?

2. What is the expected growth rate of the global data quality tools market during 2023-2028?

3. What are the key factors driving the global data quality tools market?

4. What has been the impact of COVID-19 on the global data quality tools market?

5. What is the breakup of the global data quality tools market based on the data type?

6. What is the breakup of the global data quality tools market based on the functionality?

7. What is the breakup of the global data quality tools market based on the component?

8. What is the breakup of the global data quality tools market based on the deployment type?

9. What is the breakup of the global data quality tools market based on the organization size?

10. What is the breakup of the global data quality tools market based on the vertical?

11. What are the key regions in the global data quality tools market?

12. Who are the key players/companies in the global data quality tools market?