Market Overview:
The Global Data Wrangling Market size was valued at USD 3.45 million in 2022 and is projected to reach USD 7.58 million by 2032 at a CAGR of 21.5% from 2022 to 2032.
Data wrangling, also known as data munging, is the process of cleaning and transforming raw data into a usable form for analysis. It involves various steps such as data cleaning, data transformation, and data integration to convert data from multiple sources into a structured format. One of the driving factors for the adoption of data wrangling is the exponential growth of data, which is making it increasingly difficult for organizations to manage and analyze their data using traditional methods. By automating the data wrangling process, organizations can save time and resources while improving the quality of their data.
Additionally, the increasing demand for data-driven insights and the rise of machine learning and artificial intelligence are also driving the adoption of data wrangling. By cleaning and transforming data into a structured format, data wrangling helps to create high-quality data sets that can be used for machine learning and other advanced analytics applications. However, challenges to the adoption of data wrangling include the lack of standardization in data formats and the complexity of integrating data from multiple sources. Additionally, the need for specialized skills and expertise in data wrangling can be a barrier for some organizations.
The increasing volume and complexity of data is driving the growth of the global data wrangling market.
Data wrangling, also known as data cleaning or data preprocessing, refers to the process of transforming and mapping raw data from various sources into a usable format for analysis. With the rise of big data and the Internet of Things (IoT), organizations are generating huge amounts of data on a daily basis. However, this data is often incomplete, inconsistent, and contains errors, making it difficult to extract insights and value from it. Data wrangling addresses these challenges by providing a way to clean, transform, and structure data into a usable format. The growth of the data wrangling market is being driven by the increasing volume and complexity of data being generated by organizations. This includes data from a wide range of sources such as sensors, social media, mobile devices, and machine-generated data. As the volume of data continues to grow, organizations are facing significant challenges in managing and making sense of it. Data wrangling tools and techniques can help to address these challenges by providing a way to automate data cleaning, transformation, and integration.
One of the key advantages of data wrangling is that it can help to improve data quality and accuracy. By cleaning and transforming data, organizations can reduce errors and inconsistencies in their data, which can improve the accuracy of their analysis and decision-making. Data wrangling can also help to save time and resources by automating the data cleaning and transformation process, which can be a time-consuming and resource-intensive task when done manually. Data wrangling has a wide range of uses across industries and applications. In the financial industry, data wrangling can be used to analyze large volumes of financial data and identify patterns and trends that can be used to inform investment decisions. In the healthcare industry, data wrangling can be used to clean and integrate patient data from different sources to improve patient outcomes and drive research. The adoption of data wrangling is growing rapidly, as organizations seek to gain insights from their data and make data-driven decisions. This is being driven by the increasing availability of data wrangling tools and technologies, as well as the growing awareness of the benefits of data-driven decision-making.
Segmentation:
By Component
· Solution
· Service
By Deployment Mode
· On-Premise
· Cloud
By Organization Size
· Large Enterprises
· Small & Medium Enterprises
Geography:
As per recent market industry experts, North America and Europe hold the largest market share in the data wrangling market. However, the Asia-Pacific region is expected to grow at a significant pace in the coming years due to the increasing adoption of cloud-based technologies and the growing focus on big data analytics in emerging economies like China and India.
Impact of COVID-19 on the global Data Wrangling Market:
The COVID-19 pandemic has impacted the data wrangling market in several ways. With the widespread adoption of remote work, the demand for cloud-based data wrangling solutions has increased significantly. Many businesses have had to adapt to remote work and rely on digital platforms for communication and collaboration, which has created a higher need for efficient data management and processing. On the other hand, the pandemic has also caused disruptions in the supply chain and resulted in reduced IT budgets for some companies, which may have slowed down the adoption of data wrangling solutions. Some industries, such as travel and hospitality, have been severely impacted by the pandemic and may have cut back on technology investments. Overall, the impact of the pandemic on the data wrangling market has been mixed, with both positive and negative effects. The long-term effects are yet to be seen as the world continues to navigate the pandemic and its aftermath.
Impact of the Russia-Ukraine War on the global Data Wrangling Market:
The political and economic instability in any region can have indirect impacts on the market. It is possible that any disruption in the supply chain or changes in trade policies due to the war could have an impact on the market. Additionally, if the war causes significant damage to technology infrastructure, it could potentially impact the market. When there is political instability or conflict in a region, it can cause economic uncertainty and disrupt supply chains, which may impact businesses and their investments. This uncertainty can cause a reduction in demand for services and products, including data wrangling services. Additionally, geopolitical events can also impact the availability of skilled labor and talent in the market. In the case of the Russia-Ukraine war, it could potentially result in a shortage of data wrangling talent or difficulty in finding qualified professionals to work on projects. It is also possible that the conflict could lead to changes in regulations or trade policies that could impact the data wrangling market. For example, if economic sanctions are put in place, it could make it more difficult for companies to do business with clients in certain countries or to access specific technologies and tools.
Company Profiles:
· Alteryx, Inc.
· Hitachi Vantara Corporation
· International Business Machines Corporation
· Impetus Technologies, Inc.
· Oracle Corporation
· Paxata, Inc.
· SAS Institute Inc.
· TIBCO Software Inc.
· Teradata Corporation
· Trifacta
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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