Data Wrangling Market to Grow at a CAGR of 20.9% to reach US$ 6,034.4 million from 2020 to 2027

The data wrangling market is expected to reach US$ 6,034.4 million by 2027, rising from US$ 1,377.8 million in 2019. The growth rate for revenue curve is estimated to be 20.9% during the forecast period.

Data wrangling tools and services offer numerous benefits, such as delivering better and faster decision making and providing a competitive advantage by promptly analysing & acting upon information. Companies are also adopting data wrangling for real-time forecasting and monitoring various occasions that may affect the performance of the organizations. The ability to mitigate risks by optimizing complex decisions about unplanned events, such as cyberattacks and other crises, propels the growth of the data wrangling market. Further, the demand for data wrangling is increasing due to growing instances of cyberattacks as the wrangling process makes data easier to locate and retrieve. When it comes to managing risk, compliance, and data security, data wrangling is of particular importance. The wrangling of data involves tagging the data to make it easy to search and track. It also eliminates data duplications, reducing storage and backup costs while accelerating the search process. Data wrangling provides a clear view of all data within the control of an organization and a clear understanding of where the collected data is stored, how to access it quickly, and the best way to protect it against potential security risks. Once implemented, data wrangling provides an organized framework that facilitates more appropriate data protection measures and promotes employee compliance with security policies. Thus, numerous benefits of data wrangling solutions are anticipated to drive the growth of the data wrangling market during the forecast period.

Impact of COVID-19 Pandemic on Data Wrangling Market

According to latest situation report from World Health Organization (WHO), the US, Spain, Italy, France, Germany, UK, Russia, Turkey, Brazil, Iran, and China are some of the worst affected countries due to COVID-19 outbreak. The outbreak first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in the year 2020 and likely in 2021 also. AI and big data technologies were used to strengthen the contact tracing and management of priority populations. Personal data processing is difference in every geographical location. For instance, China, US, and the European Union have different legislation for governing processing personal data of their respective citizens.

During watching the news for information Coronavirus, the individuals comes across various sensitive personal information about many patients and their family members. Even, the name of patients are not disclosed, this other information includes movement of patients, details about their previous & current health status which might result into identification of individual.

Lucrative Regions for Data Wrangling Market

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Market Insights

Integration of AI and ML into Data Wrangling

In the new era of fueling data, the advent of big data and machine learning would prove to be a game-changer for industries. Big data requires data wrangling and performs its task of delivering quality information for management decision making. The need to classify data is characterized by its large volume and speed. Similarly, due to its ability to learn the tags for every kind of information set in the system, machine learning is likely to boost the market for data wrangling. Also, companies are integrating technologies, such as AI and ML, to automatically analyze sensitive data behavior and enhance security measures to prevent incidents involving data breach. These technologies help companies reduce error rates through manual processes or user interference while classifying sensitive data and empowering data wrangling solutions to leverage continuous learning processes to automatically categorize data in a more refined and precise way, based on user-defined rules and policies. By presenting better and more complete data, third-party organizations and government units can significantly add value to the quality of a management system and MDM platforms, contributing to precise decision making. AI makes suggestions on what to get from a given set of data and the build's data connections. When a company has detailed and clean data in one place, the chances of making informed decisions are higher.

Component Market Insights

Based on component, the data wrangling market is segmented into tools and services. The services segment can be further categorized into professional services and managed services. Tools segment led the data wrangling market in 2019, however, services segment is anticipated to grow at the highest CAGR during the forecast period.

Data Wrangling Market, by Component– 2019 and 2027

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Business Function Market Insight

Based on business function, the data wrangling market is segmented into finance, marketing and sales, operations, human resources, and legal. Marketing and sales segment led the data wrangling market in 2019, followed by operations, finance, human resource and legal segment. Further, operations segment is anticipated to grow at the highest CAGR during the forecast period.

Organization Size Market Insight

Based on organization size, the data wrangling market is segmented into SMEs and large enterprises. Large enterprises segment led the data wrangling market in 2019, however, SMEs segment is anticipated to grow at the highest CAGR during the forecast period.

Small and medium organizations are seeing considerable demand for data wrangling and other related services. These organizations are aware of the cost and avoid investing in high-cost solutions and services, thereby opting for solutions based on the services. To achieve their full potential, small and medium-sized organizations need continuous support from the respective country governments. They need to work on their internal processes, structures, and practices to achieve anticipated growth. Digitalization is opening up new opportunities for advanced solutions for small and medium-sized organizations.

Industry Vertical Market Insight

Based on industry vertical, the data wrangling market is segmented into BFSI, government, healthcare, IT and telecom, manufacturing, retail, and others. BFSI segment led the data wrangling market in 2019, followed by IT and telecom, retail, healthcare, manufacturing and government segment. Further, others segment is anticipated to grow at the highest CAGR, i.e., 24.0% during the forecast period.

Strategic Insights

The players operating in the enterprise content management market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

• In October 2019, DataRobot, acquired Paxata, the pioneer of self-service data preparation and leading data fabric provider, to fulfill its mission to build the world’s first automated end-to-end enterprise AI platform.
• In August 2018, TMMData, declared the launch of new “bulk entry forms” as part of its suite of self-service data blending tools. This released improved the platform’s data workflow capabilities so digital marketing and analytics teams can better scale their campaign management process with automation.

Global Data Wrangling Segments:

Data Wrangling Market – By Component

• Tools
• Services

Data Wrangling Market – By Business Function

• Marketing and Sales
• Operations
• Human Resource
• Finance
• Legal

Data Wrangling Market – By Organization Size

• SMEs
• Large Enterprises

Data Wrangling Market – By Industry

• BFSI
• IT and Telecom
• Manufacturing
• Healthcare
• Government
• Retail
• Others

Data Wrangling Market – By Geography

• North America

  • U.S.
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • Spain
  • UK
  • Rest of Europe

• Asia Pacific (APAC)

  • Australia
  • China
  • India
  • Japan
  • Rest of APAC

• Middle East & Africa (MEA)

  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA

• South America (SAM)

  • Brazil
  • Rest of SAM

Companies

• BRILLIO.
• ONEDOT AG
• Paxata, Inc.
• TMMData
• Trifacta
• Altair Engineering, Inc.
• TIBCO Software Inc.
• Oracle Corporation
• SAS Institute Inc.
• Ideata Analytics