Data Wrangling Market Size and Trends

The data wrangling market size is forecast to increase by USD 1.4 billion at a CAGR of 14.8% between 2023 and 2028.  The market is experiencing significant growth due to the numerous benefits provided by data wrangling solutions, including data cleaning, transformation, and enrichment. One major trend driving market growth is the rising need for technology such as the competitive intelligence and artificial intelligence in the healthcare sector, where data wrangling is essential for managing and analyzing patient data to improve patient outcomes and reduce costs. However, a challenge facing the market is the lack of awareness of data wrangling tools among small and medium-sized enterprises (SMEs), which limits their ability to effectively manage and utilize their data. Despite this, the market is expected to continue growing as more organizations recognize the value of data wrangling in driving business insights and decision-making.

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The market is experiencing significant growth due to the increasing volume, variety, and velocity of data being generated from various sources such as IoT devices, financial services, and smart cities. The market is driven by the need to manage and prepare data for analysis, ensuring data quality, and mitigating risks such as data loss and theft. Artificial intelligence and machine learning technologies are being increasingly used for data preparation, data cleaning, and data unification. Cloud solutions and multi-cloud strategies are gaining popularity for their flexibility and scalability in handling large volumes of data. Real-time analysis and edge computing are also key trends in the market, enabling organizations to make informed decisions quickly. Data management, information mapping, and self-service data preparation are essential components of data wrangling, allowing businesses to gain insights from their data. Data analytics is a critical application area for data wrangling, with the finance and insurance industries being major adopters. The market is expected to grow further as organizations continue to invest in big data initiatives and implement advanced technologies such as AI and ML to gain a competitive edge. Data munging, data preparation, and data analysis are key activities in the data wrangling process, ensuring that data is in the right format and ready for analysis.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Sector
  • BFSI
  • Government and public sector
  • Healthcare
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • Middle East and Africa
  • South America

By Sector Insights

The BFSI segment is estimated to witness significant growth during the forecast period. The data wrangling market is experiencing significant growth due to the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies in data analytics. With the increase in digital transformation across various industries, including IT and telecom, e-commerce, healthcare, telecommunications, and financial services, there is a massive influx of data that needs to be managed and prepared for analysis.

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The BFSI segment was the largest segment and was valued at USD 300.10 million in 2018. Data wrangling, also known as data munging, plays a crucial role in this process by transforming and structuring raw data into a usable format. Large enterprises and small and medium-sized enterprises (SMEs) alike are turning to data wrangling solutions to optimize their data management processes and gain valuable insights from their data. These solutions enable real-time analysis, data integration, and data transformation, reducing the time spent on data preparation by up to 15 times. Hence, such factors are fuelling the growth of this segment during the forecast period.

Regional Analysis

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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Artificial intelligence (AI) and machine learning (ML) technologies are revolutionizing data analytics by enabling real-time analysis of vast amounts of data. Data management is a critical aspect of this process, which includes data preparation, integration, transformation, and structuring. Large enterprises and SMEs across industries such as IT and Telecom, E-commerce, Healthcare, Telecommunications, Financial Services, and Insurance are adopting on-premises and cloud-based solutions for data management.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

Numerous benefits provided by data wrangling solutions is notably driving market growth. The market for big data analytics software is experiencing significant growth due to its capacity to facilitate swift and informed decision-making, offering a competitive edge through the analysis and utilization of processed information. The increasing demand for this technology is driven by its benefits, including simplified access to essential business metrics and valuable customer behavior insights, which contribute to revenue growth and operational efficiency.

Additionally, data wrangling solutions are being adopted for real-time forecasting and monitoring of potential business impacting events. Furthermore, these solutions play a crucial role in managing risks by optimizing complex decisions regarding unforeseen incidents, such as cyberattacks or crises, thereby accelerating market expansion. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

Rising need of technology in healthcare sector is the key trend in the market. In today's data-driven world, various sectors, including healthcare, finance, and IoT, generate massive amounts of data daily. This data, which can range from sensitive patient information and medical records to financial transactions and IoT device readings, requires effective management and transformation for insightful analysis.

 Data wrangling, a critical process in data analytics, plays a pivotal role in addressing the challenges of data lineage, metadata management, data cataloging, data cleaning, and data unification. In the finance industry, self-service data preparation tools facilitate the cleaning and unification of data from multiple sources, ensuring accurate financial reporting and analysis. Thus, such trends will shape the growth of the market during the forecast period.

Major Market Challenge

Lack of awareness of data wrangling tools among SMEs is the major challenge that affects the growth of the market. Data wrangling solutions play a crucial role in extracting valuable insights from raw data and addressing time-sensitive business requirements by leveraging advanced technologies such as machine learning and big data analytics. Traditional Extract, Transform, Load (ETL) tools remain popular among Small and Medium-sized Enterprises (SMEs) due to their user-friendly interface and affordability.

However, these tools may not offer the necessary functionality for adopting data wrangling technology, thereby limiting the market growth. Additionally, the lack of awareness regarding data wrangling techniques among SMEs in developing countries, particularly in China and India, which have a vast number of organizations, will impede market expansion during the forecast period. Metadata management, data cataloging, data cleaning, data unification, and self-service data preparation are essential components of data wrangling. Hence, the above factors will impede the growth of the market during the forecast period

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Alteryx Inc: The company offers data wrangling products such as Alteryx APA Platform.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Altair Engineering Inc.
• Dataiku Inc.
• DataRobot Inc.
• Dell Technologies Inc.
• eXalt Solutions Inc.
• Hitachi Ltd.
• Ideata Analytics
• Impetus Technologies Inc.
• Innovative Routines International (IRI) Inc.
• International Business Machines Corp.
• Medallia Inc.
• Microsoft Corp.
• Oracle Corp.
• Rapid Insight Inc.
• SAS Institute Inc.
• Teradata Corp.
• TIBCO Software Inc.
• Wipro Ltd.
• Zoho Corp. Pvt. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

The market is experiencing significant growth due to the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies in data analytics. Businesses across industries, including large enterprises and Small and Medium-sized Enterprises (SMEs) in IT and telecom, e-commerce, healthcare, telecommunications, financial services, and insurance, are investing in data management solutions for data preparation, real-time analysis, and data transformation. On-premises and cloud-based solutions are popular choices for data wrangling, with multi-cloud strategies and hybrid cloud deployments gaining traction. Professional services and consulting firms provide expertise in data encryption, access controls, and data protection laws to ensure data security and governance during digital transformation. Data integration, data structuring, and information mapping are crucial aspects of data wrangling, enabling seamless data flow between systems and enabling enterprise mobility. Edge computing and data quality are also essential considerations for real-time analysis and anomaly detection in cloud solutions. The market is expected to grow further due to the increasing adoption of big data analytics and the need for data analysis in various industries.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2023 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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