Global Data Pipeline Tools Market Size Estimated to Reach USD 30 Billion by 2030, Growing at 20.2% CAGR: Polaris Market Research
NEW YORK , Feb. 8, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Data Pipeline Tools Market Share, Size, Trends, Industry Analysis Report, By Component (Tools, Services); By Type; By Deployment Mode (Cloud, On-Premise); By Organization Size; By Application; By Verticals; By Region; Segment Forecast, 2022 - 2030" published by Polaris Market Research in its research repository.
According to the research report, the global data pipeline tools market size & share was valued at USD 5.8 billion in 2021 and is expected to reach USD 30 Billion by 2030, growing at a CAGR of 20.2% during the forecast period.
What is Data Pipeline Tools? What is the Market Share of Data Pipeline Tools?
Data pipeline tools are a category of software that permit large volumes of data to be moved from several disparate data sources to a central destination, often a data warehouse. The rapidly rising demand for data pipeline tools market can be attributed to data being normalized or transformed so that it's in a consistent format and schema in the data warehouse and can be used for analysis and reports.
Factors such as the increasing adoption of artificial intelligence and the Internet of Things, rising investments in advanced technologies, and the need for reduced data latency are driving the demand for the market. Published in September 2022, the State of IoT spring 2022 report stated that with more than 12.2 billion active endpoints, the IoT connections have grown by 8.0% globally since last year.
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Key factors driving market growth
In multi-cloud data, bottlenecks might develop while traveling from one system to another. As the amount of data used increases, these costs may increase. The data pipeline tools market size is expanding as latency is impacted by the efficacy of stream computing. Message queues and databases are used to store calculating results. Since business intelligence systems need adequate data for decision-making, it is essential to keep latency as low as possible.
With rapid modernization throughout the world, the number of IoT devices or connected devices is increasing rapidly. Data pipeline tools market sales are soaring as an increase in the number of IoT connections and the advent of several new and technologically advanced devices at very affordable prices. The increasing demand for IoT solutions, along with favorable optimism in the IoT community and most IoT end market, is also anticipated to substantially boost the demand for connected devices globally in the coming years.
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Recent trends influencing the market
Integration of tools with big data and IoT to drive the market
Based on the component, the tools segment accounted for the largest share due to flexibility and agility in transferring data. The data tools provide fundamental insights into the data and automate the process effectively and securely, which is anticipated to drive the market over the forecast period. Data pipeline tools market demand is on the rise as tools are required for gathering information from several data sources to reach their target.
Based on type, the ETL data pipeline segment is anticipated to spearhead the market growth. The demand is driven by its ease of deployment and maintenance and to process the capacity to process data continuously. Data pipeline tools market trends include the ease with which data extraction, transformation, and loading processes are executed to reach its target repository has increased its demand among data scientists.
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Global Data Pipeline Tools Market: Report Scope & Analysis
North America held the largest data pipeline tools market share due to rising innovation and emerging new technologies. The escalating demand for combining several data volumes from different sources over a single cloud has increased the need for data pipelining and integration across US and Canada. The presence of major key players and their focus on creating new data pipeline tools and services to deal with integration complexities and data is unaddressed.
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Polaris Market Research has segmented the data pipeline tools market report based on component, type, deployment mode, organization size, application, verticals and region:
By Component Outlook
By Type Outlook
By Deployment Mode Outlook
By Organization Size Outlook
By Application Outlook
By Verticals Outlook
By Region Outlook
About Polaris Market Research
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SOURCE Polaris Market Research