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Data Prep Market Worth 3.93 Billion USD by 2021

PUNE, India, November 30, 2016 /PRNewswire/ --

According to a new market research report "Data Prep Market by Platform (Self-Service Data Prep, Data Integration), Tool (Data Curation, Data Cataloguing, Data Quality, Data Ingestion, Data Governance), Deployment, Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the market size is estimated to grow from USD 1.46 Billion in 2016 to USD 3.93 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period.

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Browse 47 market data Tables and 51 Figures spread through 130 Pages and in-depth TOC on "Data Prep Market"

http://www.marketsandmarkets.com/Market-Reports/data-prep-market-31231568.html 

Early buyers will receive 10% customization on this report.

The key forces driving the Data Prep Market include increasing importance of on-time qualified data, rising need to adhering to regulatory and compliance requirements, benefits of streamlined business operations, and the use of data prep tools in predictive analytics.

Self-service data prep platform is expected to grow at the highest rate during the forecast period 

Among the platforms, the self-service data prep segment is expected to grow at a fast pace during the forecast period. The demand for self-service data prep platform is increasing among enterprises as it helps canvas the existing data into user-centric formats, which then help in efficient data analysis, faster decision making, optimized internal business processes, increased operational efficiency, and a competitive advantage in the market.

Data quality segment is expected to contribute the largest market share in 2016 

Among tools, the data quality segment is expected to hold the largest market share in the Data Prep Market in 2016. Data quality tools ensure that the data fits a particular user- specific task and is accurate & timely. Data quality is affected by the way data is entered, stored, and managed, and organizations are making use of the data quality tools to maintain consistency and improve decision making. Educational institutions, malls, retail shops, commercial buildings, hotels, and restaurants are increasingly deploying data prep to make important decisions about asset management and resource allocation. The hosted deployment of data prep has been in demand for sectors such as educational institutions, retail outlets, and hospitality sector, thereby contributing to the growth of the Data Prep Market.

North America is expected to contribute the largest market share; Asia-Pacific (APAC) to grow the fastest 

North America is expected to hold the largest market share and dominate the Data Prep Market from 2016 to 2021, owing to large investments in cloud-based solutions, early adoption of new & emerging technologies, and a large number of players present in this region. The APAC region is in the initial growth phase; however, it is expected to be the fastest growing region for the global Data Prep Market. The key reason for the high growth rate in APAC is the growing demand for cost-effective data prep platforms and tools among small and medium enterprises in this region.

The major vendors in the Data Prep Market are Alteryx, Inc. (U.S.), Informatica (U.S.), International Business Corporation (U.S.), TIBCO Software, Inc. (U.S.), Microsoft Corporation (U.S.), SAS Institute (U.S.), Datawatch Corporation (U.S.), Tableau Software, Inc. (U.S.), Qlik Technologies Inc. (U.S.), SAP SE (U.S.), Talend (U.S.), and Microstrategy Incorporated (U.S.).

Speak to Analyst @ http://www.marketsandmarkets.com/speaktoanalyst.asp?id=31231568

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About MarketsandMarkets 

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

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