Data Wrangling Market Share, Overview | CAGR of a 18.40% To 2026
The rise in disposable income acts as a primary growth driver in the Global Data Wrangling Market.
PORTLAND, PORTLAND, OR, UNITED STATE, October 12, 2022 /EINPresswire.com/ — As per the report, the global data visualization tools industry was estimated at $7.4 billion in 2021, and is set to reach $19.5 billion by 2031, growing at a CAGR of 10.2% from 2022 to 2031.
The thriving data analytics industry and high demand for remote management solutions along with the rise in work-from-home activities drive the growth of the global data visualization tools market.
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Nevertheless, data privacy issues and sharing challenges related to data visualization tools can impede market growth across the globe. However, integrating advanced tools such as machine learning and data analytics with data visualization tools is anticipated to create new growth avenues for the global market.
The rise in the adoption of big data analytics software among multiple organizations and the increase in cloud-based big data analytics software adoption among SMEs drive the growth of the global data wrangling market.
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Asia-Pacific is projected to witness the fastest CAGR of 20.9% during the forecast period. Leading companies such as AWAS and C3.ai have launched their covid-19 data collection publicly for researchers to accelerate efforts to address the pandemic.
The research offers a detailed segmentation of the global data-wrangling market based on components, organization size, deployment model, business functions, industry verticals, and geography.
Based on components, the solution segment accounted for the major market share in 2018, holding nearly three-fourths of the global market, and is estimated to maintain the highest contribution throughout the forecast period. However, the service segment would register the fastest CAGR of 20.8% during the forecast period.
On the basis of the deployment model, the on-premise segment accounted for nearly three-fifths of the total market share in 2018 and is estimated to maintain its dominance by 2026. Simultaneously, the cloud segment is estimated to maintain the highest CAGR of 20.1% from 2019 to 2026.
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Based on geography, North America held nearly two-fifths of the total revenue of the global market in 2018, and is expected to maintain the dominant share during the forecast period. However, Asia-Pacific is projected to witness the fastest CAGR of 20.9% during the forecast period.
Leading players of the global data wrangling market analyzed in the research include IBM Corporation, SAS institute, Oracle Corporation, Hitachi Vantara, Tibco Software, Alteryx, Teradata Corporation, Trifacta Software Inc., Impetus, and Paxata Inc.
Covid-19 scenario:
• The COVID-19 pandemic favorably impacted the growth of the global data visualization tools market due to a rise in demand for digital devices and an increase in the online presence of people during the pandemic period.
• Surging demand for data visualization tools during the COVID-19 pandemic as a result of lockdowns and social distancing norms will boost global market trends.
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