Market Trends of Data Wrangling Industry
Large Enterprises are Analyzed to Hold Significant Market Share
- Large enterprises are expected to hold significant market share in the data wrangling market primarly due to increasing adoption of AI and ML, growing volume of data owing to the substantial adoption of advanced technologies. Furthermore, increasing regulatory pressure among the large enterprises is expected to present major growth opportunities for the expansion of the market in future.
- Additionally, the ability of data-wrangling solutions to deliver better and faster decision-making and to offer a competitive advantage by analyzing and acting upon information promptly further boosts the demand among large enterprises. Furthermore, large enterprises are adopting data wrangling for real-time monitoring and forecasting of various occasions that may affect the performance of large organizations.
- Moreover, according to IBM, the adoption of AI varies amongst businesses, countries, and sectors. While larger firms are twice as likely to have actively used AI as part of their company operations, smaller businesses are less likely. Companies are more likely to investigate AI than actively pursue it. As of 2022, a majority of IT workers in China and India, compared to markets like South Korea (22%), Australia (24%), the United States (25%), and the United Kingdom (26%), believe their organization is already actively employing AI.
- Further, large businesses are constantly discovering new data kinds as big data continues to progress. Data management, however, keeps becoming a more significant challenge for firms as technology produces more and more data sources. Such companies significantly recognize the importance of data wrangling in the large businesses, thereby driving market growth.
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North America is Expected to Hold the Significant Share
- North America is expected to dominate data wrangling during the forecast period, as the region remains one of the most significant contributors to the adoption of data wrangling tools and services. Further, the presence of major market vendors coupled witg growing adoption among end-user industries is analyzed to boost the market growth in the region over the forecast period.
- The region is expected to witness massive growth along with the application of big data due to the emergence of Industry 4.0 services. Moreover, big data is an enormous phenomenon in the United States, and companies from various industries benefit from collecting, analyzing, and manipulating vast amounts of data from multiple sources.
- The significant shareholding firms are considerably based in the North America region, which significantly drives the market with considerable investments and developments in the region. Companies such as Trifacta, Altair Engineering, Inc., TIBCO Software Inc., Oracle Corporation, SAS Institute Inc., etc., are based in the United States and are actively engaged in the operation of data wrangling in the region.
- The rising technological trends in terms of investments, adoption, and integration of various technologies in the region would significantly create opportunities for data wrangling technology in assisting firms to work effectively in handling huge amounts of data. Further, the increased trends of cloud adoption in the region post-pandemic boosted market growth in the region.
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