According to the latest report by IMARC Group, titled, “Data Wrangling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, the global data wrangling market exhibited moderate growth during 2015-2020. Looking forward, the market expects to grow at a CAGR of around 16% during 2021-2026.
Data wrangling refers to the process of re-structuring raw data into the desired format for quick and better decision-making. Also known as data munging, it involves transforming and mapping unorganized data using advanced algorithms for data visualization. As a result, this process is widely adopted for various business processes across finance, human resource, marketing, sales and operations to improve the overall efficiency.
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The global market is primarily driven by a substantial increase in the data volumes generated by various industries. This is supported by the introduction of artificial intelligence (AI), cloud computing and big data, which generates huge sets of unstructured data. Moreover, the rising concerns regarding fraudulent activities across the banking, financial services and insurance (BFSI) sector have encouraged several institutions to adopt data wrangling to strengthen data security and optimize online banking portals. Other factors, including the rising penetration of social media and the widespread automation across numerous sectors, are also contributing to the market growth.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
The report has segmented the market on the basis of Component, Deployment Mode, Organization Size, Business Function, Industry Vertical and Region.
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