Data Cleansing Tools Market: Introduction
- Data cleansing tools are used to manage, analyze, and scrub data from various sources, such as IoT (Internet of Things) devices, database, emails, and social media logs. In addition, data cleansing tools remove issues such as formatting redundancies and errors, in order to make the data less accessible and accurate. Data cleansing tools support IT teams to access data management services, so as to clean up messy data and transform data from one format to another. Data cleansing tools are interactive solutions that can clean large amount of unwanted data at once.
- The COVID-19 outbreak has been a primary catalyst for the expansion and rising adoption of data cleansing tools. Governments of various countries across the world have imposed lockdowns to curb the spread of the disease. This has prompted providers of data cleansing tools to offer data cleansing solutions to support remote working during the pandemic outbreak. Additionally, data cleansing tools maintain reliable data through a sophisticated cleansing framework using remote channels. This, in turn, is expected to boost the global data cleansing tools market. Moreover, companies can standardize their unstructured or structured data during the COVID-19 outbreak within a single platform, which is expected to create significant opportunity for the global data cleansing tools market.
Global Data Cleansing Tools Market: Market Dynamics
- Rise in need for data cleansing tools to improve the completeness of data in data centers is expected to boost the global data cleansing tools market
- Increasing need for data cleansing tools across enterprises to remove duplicate, incorrect, inaccurate, and irrelevant data from databases, marketing & mailing lists, and spreadsheets, is projected to boost the data cleansing tools market.
- The growing penetration of internet and smart devices across governments, IT & telecom, and banking, financial services and insurance (BFSI) among others, is expected to trigger the growth of the data cleansing tools market.
- Increasing volume of business data is expected to boost the growth of the data cleansing tools market.
- Increasing use of external data sources across enterprises during the COVID-19 outbreak is expected to fuel the growth of the data cleansing tools market over the forecast period.
- However, lack of awareness acts as a major restraining factor for the growth of the data cleansing tools market.
North America to Account for Major Share of the Global Data Cleansing Tools Market
- In terms of region, the global data cleansing tools market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa
- North America is expected to lead the global data cleansing tools market during the forecast period, due to the presence of well-established players offering data cleansing tools and solutions in the U.S. and Canada.
- The data cleansing tools market in Europe is anticipated to expand, due to rising interest in data quality improvement solutions and growing focus on data driven strategic and technical decision making practices in the region.
- Asia Pacific is expected to hold a significant share of the global data cleansing tools market in the near future due to growing focus on maintaining standard data quality discipline across enterprises and data centers in countries such as China, Japan, Singapore, Australia, and India. This is projected to fuel the data cleansing tools market in Asia Pacific.
Global Data Cleansing Tools Market: Competitive Landscape
Key Players Operating in the Global Data Cleansing Tools Market
Companies operating in the global data cleansing tools market are increasingly investing in research and development activities to develop new and innovative techniques to provide data cleansing tools solutions. The global data cleansing tools market is highly fragmented, with the presence of numerous manufacturers in developed and developing regions. Key players operating in the global data cleansing tools market include:
- IBM Corporation
- SAP SE
- SAS Institute Inc.
- Oracle Corporation
- Xplenty Inc.
- Google LLC
- Salesforce.com, Inc.
- Informatica LLC
- TIBCO Software Inc.
- Rivery Technologies LTD.
- Klipfolio Inc.
Global Data Cleansing Tools Market: Research Scope
Global Data Cleansing Tools Market Segmentation, by Component
- Professional Service
- Training & Consulting
- Support & Maintenance
- Managed Service
- Professional Service
Global Data Cleansing Tools Market Segmentation, by Deployment
Global Data Cleansing Tools Market Segmentation, by Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
Global Data Cleansing Tools Market Segmentation, by Data Type
- Customer Data
- Product Data
- Financial Data
- Compliance Data
- Supplier Data
Global Data Cleansing Tools Market Segmentation, by Industry
- IT & Telecom
- Energy & Utilities
- Retail and E-commerce
- Media and Entertainment
Global Data Cleansing Tools Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Data Scrubbing Tool
- Data Quality Tools
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.