Market Overview:
The Data Wrangling Market size is estimated to reach $4.74 billion by 2030, growing at a CAGR of 19.5% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Data Wrangling Market – By Business Function (BFSI, Operations, Human Resources, Legal), By Component (Tools, Services, Managed Services, Professional Services), By Deployment Model (On-Premises, Cloud), By Organization Size (Large Enterprises, Small & Medium-Sized Enterprises), By Industry Vertical (Government & Public Sector, Healthcare & Life Sciences, Retail & E-commerce, Travel & Hospitality, Automotive & Transportation, Energy & Utilities, Telecommunication & IT, Manufacturing, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Growing demand for real-time data processing and Expansion of cloud-based data wrangling solutions are expected to create growth opportunities in the market during forecast period.
North America Dominated the Market in 2023:
North America accounted for the largest share of 35% of the Data Wrangling Market in 2023 followed by Europe and APAC. The region boasts a robust technological infrastructure, fostering the adoption of advanced data management solutions. Additionally, North America is home to a plethora of tech-savvy enterprises seeking to harness the power of data analytics for informed decision-making and competitive advantage.
Data Wrangling Market: Key Takeaways
Data Tools Integration:
As data environments become more complex, businesses are increasingly seeking comprehensive data wrangling solutions that integrate seamlessly with a wide range of data tools and platforms. This trend is driven by the need to streamline workflows and enhance data management efficiency. Modern data wrangling solutions are evolving to support integration with various data sources, including databases, cloud storage, and business intelligence tools. They also offer compatibility with data visualization and analytics platforms, allowing for a more cohesive data ecosystem. This integration ensures that data can be efficiently cleaned, transformed, and prepared for analysis across different tools, enhancing the overall data quality and accessibility. The increasing focus on interoperability and integration reflects the growing demand for sophisticated, unified data management solutions that can handle diverse and dynamic data environments.
Retail and E-Commerce Data Management:
The explosive growth of online shopping and digital transactions has led to a surge in data generation, including customer interactions, purchase histories, and inventory levels. Retailers and e-commerce platforms are leveraging data wrangling tools to manage this vast amount of data effectively, ensuring accurate and actionable insights. These tools help businesses clean and organize data from multiple sources, including web analytics, customer reviews, and social media, to better understand consumer behavior and optimize their operations. Additionally, data wrangling solutions are crucial for personalizing customer experiences, managing supply chains, and enhancing marketing strategies. The need for efficient data management in the face of increasing online competition and evolving consumer expectations highlights the significant role of data wrangling tools in the retail and e-commerce sectors.
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Scope of the Report:
Recent Developments:
- In May 2023, Informatica Inc. unveiled Claire GPT, merging its augmented intelligence engine with generative AI. This synergy enables customers to manage data effortlessly through natural language. Claire GPT's integration expands trainable datasets, propelling growth in the data-wrangling market, and promising enhanced efficiency and insights for businesses.
- In May 2023, TIBCO’s introduction of seven new Data Functions and five new Visualization Mods, alongside Python Data Functions on TIBCO Cloud™, revolutionizes the Data Wrangling Market by simplifying the creation of custom, no-code analytics applications. This integration streamlines the use of popular data science languages and enhances data preparation and labeling directly within the Data Canvas.
- In May 2023, Alteryx introduced a new engine that combines the vendor's existing AI and machine learning capabilities with generative AI and large language models in a move aimed at improving efficiency and productivity. Analytics Cloud, the cloud-based version of Alteryx's platform, includes capabilities from data wrangling vendor Trifacta, which Alteryx acquired for $400 million in January 2022.
Data Wrangling Market: Competitive Landscape
Key companies profiled in the Data Wrangling Market are Alteryx, Oracle, Teradata, SAS Institute Inc., Altair Engineering Inc., TIBCO Software Inc., IBM, Trifacta, Datawatch, Informatica, and Others.
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