LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global data integration and data quality tools market to grow at a CAGR of almost 3% during the period 2018-2022, according to their latest report.
One of the major trends being witnessed in the market is the increase in the development of new products. The vendors have been continuously developing new products by investing heavily in R&D. Such product upgrades will lead to an increase in the demand for data integration and data quality tools. These upgrades will also encourage other vendors to invest heavily in developing advanced products to maintain their position in the market.
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In this report, Technavio analysts highlight the rising adoption of data integration in the life science industry as a key factor contributing to the growth of the global data integration and data quality tools market:
Rising adoption of data integration in the life science industry
There is immense growth in the life science industry in the developed and emerging markets. The tremendous growth of the industry and the unmet needs of the consumers have resulted in the adoption of new and better solutions. Data integration tools have been widely adopted in the life sciences industry. These tools are used for cleaning, storage, and retrieval of data from various sources in the life science industry.
According to a senior analyst at Technavio for enterprise application, “There are many heterogeneous data sources in the life science industry. Some of the data sources comprise experimental data produced by chip-based techniques, clinical data, inter-connected web data, annotation data, and publications. In the life sciences industry, the data is extracted from public sources and assembled into one or more flat files.”
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Data integration and data quality tools-market segmentation analysis
This market research report segments the global data integration and data quality tools market into the following end-users (large enterprises, government organizations, and SME) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major end-users, the large enterprises segment held the largest market share in 2017, accounting for more than 46% of the market. This segment is expected to grow steadily during the forecast period.
The Americas was the leading region for the global data integration and data quality tools market in 2017, accounting for a market share of over 47%. This region will lead the global market throughout the forecast period.
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