Data prep makes use of tools such as data curation, data cataloging, data quality, data ingestion, and data governance to create consistent data of high quality, by eliminating low quality and incorrect data that hampers the efficient functioning of processes like analytics and data mining. Due to increasing importance of on-time qualified data, the data prep tools and platforms have gained tractions among various verticals. The rising need for adhering to regulatory and compliance requirements and benefits of streamlined business operations are going to help drive the data prep market. The market is projected to be USD 3.93 Billion by 2021, and to grow at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period 2016–2021.
Various vendors prevailing in this market space include 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.). Players in this business sector have embraced different strategies to extend their worldwide presence and expand their market share. Partnerships, collaborations, acquisitions, and new product launches are some of the significant strategies embraced by market players to accomplish development in the data prep market. Informatica and TIBCO Software have adopted these strategies to expand their product portfolio.
Informatica (U.S.) is one of the leading players in the data prep market. As part of its organic growth strategy, Informatica develops new products that cater to the needs of its clients in a better manner. Recently, Informatica launched Intelligent Data Lake, which would help data scientists and business users find, prepare, and protect data for analysis and make faster decisions with managed self-service and big data management, which would provide solutions to bring together big data integration, big data quality & governance, and big data security in a single-integrated solution. The inorganic strategies adopted by Informatica include partnerships with Tableau Software in December 2014, which helps deliver value to a broad set of business users in the area of self-service analytics and expand the client base of Informatica’s Cloud Data Preparation product.
TIBCO Software Inc. (U.S.) is another major provider of data prep tools and platforms. The company has its presence in the Americas, MEA, Europe, and APAC. The company operates through three business segments, which include business optimization, integration & core infrastructure, and process automation & collaboration. The partnership with DEFTeam Solutions helped TIBCO expand its presence in the Middle East and APAC markets. The acquisition of StreamBase System helped strengthen TIBCO’s event-processing portfolio and deployment of real-time applications for streaming big data. In October 2016, TIBCO launched TIBCO Clarity 3.0, which brings self-service data cleansing capabilities to anyone in the enterprise by helping them load analytics into TIBCO Spotfire, cleaning customer data in Spotfire, and preparing data for consolidation in an MDM solution, such as TIBCO MDM.
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
Markets and Markets
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