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Data Quality Tools Market Worth 1,376.7 Million USD by 2022
[July 14, 2017]

Data Quality Tools Market Worth 1,376.7 Million USD by 2022

PUNE, India, July 14, 2017 /PRNewswire/ --

According to a new market research report "Data Quality Tools Market by Data Type (Customer Data, Product Data, Financial Data, Compliance Data, and Supplier Data), Component (Software and Services), Business Function, Deployment Model, Organization Size, Vertical - Global Forecast to 2022", published by MarketsandMarkets™, the global market is expected to grow from USD 610.2 Million in 2017 to USD 1,376.7 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 17.7%.

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Browse 76 Market Data Tables and 39 Figures spread through 154 Pages and in-depth TOC on "Data Quality Tools Market"

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The needs for improving the bottom-line of performance through customer engagement, increasing regulatory pressures, and risk to brand reputation are some of the key driving forces of the Data Quality Tools Market.

The finance data type is expected to grow at the highest CAGR during the forecast period 

The poor quality of finance data can have a long-term impact on an organization's finances. The higher the accuracy of the data, the better the decisions, and finance being the critical deciding factor, it is one of the major reasons for fueling the growth of the market across various organizations and finance institutions. The finance data comprises sets of information related to the financial operations of a business. These sets of data are used by the management to study its business performance and identify the need for defining new business strategies. In a recent study, 35% of banks stated that they are having trouble accumulating the customer data and managing all the requirements that come with this data. Additionally, according to another survey in 2016, 33% of the participants stated that the data quality was a significant challenge, and hence, the Data Quality Tools Market is expected to be adopted in organizations.

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The on-demand deployment model is expected to grow at the highest CAGR during the forecast period 

The Data Quality ools Market by deployment model has been segmented into 2 types: on-premises and on-demand. The on-demand deployment model is expected to grow at the highest CAGR during the forecast period owing to its cost-effectiveness, availability, scalability, and ease of deployment.

North America is expected to dominate the Data Quality Tools Market during the forecast period

The global Data Quality Tools Market is segmented on the basis of 5 major regions: North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America is estimated to hold the largest market share in the Data Quality Tools Market in 2017, owing to the unmatched expansion of data in the region fueled by the increasing adherence to mobile and Internet of Things (IoT) technologies, and also, the direct presence of major data quality tools vendors. The Data Quality Tools Market in APAC is expected to grow at the highest CAGR between 2017 and 2022. The increasing awareness, the advancement in technologies, the stringent data related regulatory compliances, and the presence of a large number of Small and Medium-Sized Enterprises (SMEs) are expected to be the major contributing factors for the growth of the Data Quality Tools Market in this region.

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The major Data Quality Tools Market vendors include Experian Data Quality (Experian Plc) (US), Informatica (US), Information Builders, IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), Pitney Bowes Inc. (US), SAP SE (Germany), SAS Institute Inc. (US), Syncsort (US), Talend (US), Trianz (US), and Tamr (US).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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