LONDON--(BUSINESS WIRE)--Technavio has announced the top six leading vendors in their recent global data quality tools market report until 2020. This research report also lists nine other prominent vendors that are expected to impact the market during the forecast period.
The global data quality tools market is one of the fastest growing markets in the enterprise applications sector and will amount to USD 2.94 billion by 2020, growing at an impressive CAGR of over 14%.
In APAC, the Digital India initiative by India and the High-Performance Computing and Networking Initiative by China will improve the digital infrastructure in these countries, increasing the adoption of data quality tools, which will help identify and remove poor quality data that is generated by connected sources. The Digital India initiative has been launched to develop the nation into a digitally empowered culture by creating awareness about the digital ecosystem. This will open up opportunities for digital technologies, such as cloud computing, mobile applications, and data management. The High-Performance Computing and Networking Initiative is targeted at attaining excessive and far-reaching influence on output, industrial attractiveness, environmental management, and many other aspects of the Chinese economy and society.
Competitive vendor landscape
The data quality tools vendor landscape is rapidly evolving, and solutions are available from both new and established vendors. Competition has intensified due to the high demand for data quality tools among large enterprises and SMEs. In addition, price wars among players have increased, driven by the need to form high-value partnerships with large enterprises.
“The highly fragmented nature of the market is affecting the proportion of target audiences, with vendors struggling to build cogent business cases. In addition, large players require multiple vendors to mitigate risks, especially when they wish to discontinue their business with a specific vendor,” says Amrita Choudhury, a lead enterprise application research analyst from Technavio.
Established vendors will acquire smaller vendors to expand their product portfolio and increase their market share. Through such deals, large companies acquire advanced technologies and have an opportunity to enter new markets. As many vendors are seeking to increase market share, more acquisitions will take place during the forecast period.
Smaller service providers have less success in establishing effective working relationships with end-users compared with their larger counterparts. Existing partnerships between small players and large end-users are beneficial to both the parties. The consolidation of small players with larger players is shaping the vendor landscape. The competition in the market is intense as vendors are trying to sustain themselves by improving their delivery models with technology.
Organizations are assessing vendors based on the features and the degree of superiority of their solutions. This enables them to compete with larger players more effectively, intensifying the competition in the market. However, consolidation and attrition are expected in the near future, increasing the complexity for organizations seeking to select the right solution for their requirements.
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Top six data quality tools market vendors
IBM provides a wide range of computer products and services. It offers various types of hardware, software, consulting, and infrastructure services. The company provides solutions under the portfolios of collaboration, predictive analytics, software development, and systems management. As at the end of 2015, the company has around 377,760 employees and operations in more than 170 countries.
IBM offers various products and solutions for industries, including automotive, banking, chemicals and petroleum, communications, insurance, life sciences, media and entertainment, metals and mining, and retail.
Informatica offers data integration software and services. Its offerings find applications in various sectors, such as energy and utilities, healthcare, financial services, manufacturing, public, telecommunications, retail, and transportation.
The company develops solutions for a wide range of enterprises, regardless of the application, technology platform, or database a customer chooses, and the deployment option. Its solutions offer a wide variety of complex, enterprise-wide data integration initiatives through technologies such as data quality, data integration, data exchange, information lifecycle management, and master data management.
Oracle offers data quality techniques for customer and product data. It facilitates business-oriented user interfaces with modern, open architecture. The functionalities of data quality solutions provided by the company include data standardization, data matching, data merging, data analysis, and data cleansing. It also provides customized dashboards to view data changes over time.
SAP serves various industries, including aerospace and defense, automotive, banking, chemicals, consumer products, defense and security, and mining. Its lines of business include asset management, finance, human resources, information technology, manufacturing, marketing, procurement, and sales.
SAS Institute major services and solutions include analytics, business intelligence, foundation tools, on-demand solutions, performance management, risk management, supply chain intelligence, fraud and security intelligence, and sustainability management.
The company’s offerings find applications in various industries such as automotive, banking, healthcare, hospitality and travel, insurance, retail, technology/telecom, and transportation, among others. It serves over 1,200 clients globally and has made more than 1,900 implementations of its software for its clients.
The other prominent vendors are:
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