Data extraction has emerged as a technique of extracting and discovering new knowledge in data implicit in a large data warehouse to enable better business decisions and strategy formulation. Various organizations are focusing on data extraction techniques to handle a huge amounts of data, and to apply interesting data extraction algorithms and visualizations in quick time. The data extraction software market is witnessing rapid growth, owing to the growing demand for artificial intelligence and machine learning technologies. Data extraction software are reshaping the industry by enabling digital transformation across industries such as banking, process manufacturing, professional services, and federal/central government and business processes. Due to the increase in organizational data, the adoption of big data solutions, and usage of business analytics has been increased in the organizations to better understand their customers, and drive efficiencies.
Data extraction is the set of methodologies used in analyzing data from various dimensions and perspectives, finding hidden patterns, classifying and summarizing the identified relationship. As the world is becoming more digital and connected, data extraction software is creating new opportunities for data collection, storage, and intelligence processing and analysis. With the huge amount of data generation, data storage, and data capture, data extraction software has emerged as an important technology to study and solve data-related problems.
Global Data Extraction Software Market: Drivers and Challenges
Strong demand for advanced business intelligence tools and the shift towards artificial intelligence and machine learning technologies are the primary factors driving the growth of the data extraction software market. Furthermore, the growing need among organizations across industry verticals to gain valuable insights into the data generated from different business processes, technological advancements, and the use of cloud-based solutions is expected to drive the growth of the data extraction software market. Moreover, the growth of the smartphone and tablet market is enthralling many organizations to adopt data extraction software to identify immediate needs in digital customer experience.
Apart from this, the rising trend of BYOD (Bring-your-own-devices) in multiple organizations and the growth of mobile devices and apps has directly resulted in a massive increase in the amount of data generated, and due to this, the demand for data extraction software is increasing rapidly. Moreover, the rapid demand for data extraction software from IT and eCommerce organizations to quickly resolve issues and problems in order to provide a higher level of business user satisfaction at a reduced cost is one of the significant factors driving the growth of the data extraction software market.
Changing government rules, regulations, and policies are the major factors that are expected to restrict the growth of the data extraction software market. Furthermore, less development in technology base and less spending on research & development by various countries in Latin America and Middle East & Africa are few other factors hampering the growth of the data extraction software market.
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Global Data Extraction Software Market: Competition Landscape
The prominent players in the global Data Extraction Software market are IBM Corporation, SAS, RapidMiner, Inc., KNIME AG, MathWorks, Inc., Alteryx, Angoss Software Corporation, SAP SE, Oracle Corporation, Fair Isaac Corporation, Teradata, Microsoft Corporation, Salford Systems, and BlueGranite, Inc.
Global Data Extraction Software Market: Regional Overview
On a geographic basis, North America is expected to be a large market for data extraction software due to the early adoption of digital technologies and the presence of various key players in the region. The demand for data extraction software in APAC and Europe is expected to grow rapidly in the coming few years due to the increasing adoption of cloud and mobile technologies by various small and medium-sized companies and the rapid growth in the eCommerce retailers in countries such as Japan, Germany, China, U.K., and India.
The data extraction software markets in Latin America and the MEA are also expected to witness high growth rates in the coming period due to the rise in digital technologies and the increasing adoption of smartphones and tablets in the region.
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The report covers exhaustive analysis on:
- Global Data Extraction Software Market Segments
- Global Data Extraction Software Market Dynamics
- Historical Actual Market Size, 2013 - 2017
- Global Data Extraction Software Market Size & Forecast 2018 to 2028
- Supply & Demand Value Chain for Data Extraction Software Market
- Global Data Extraction Software Market Current Trends/Issues/Challenges
- Competition & Companies involved in Data Extraction Software Market
- Data Extraction Software Market Solutions Technology
- Value Chain of Data Extraction Software Market
- Global Data Extraction Software Market Drivers and Restraints
Regional analysis for the Global Data Extraction Software Market includes
- North America Data Extraction Software Market
- Latin America Data Extraction Software Market
- Rest of Latin America
- Western Europe Data Extraction Software Market
- Rest of Western Europe
- Eastern Europe Data Extraction Software Market
- SEA & Others of APAC Data Extraction Software Market
- Australia and New Zealand (A&NZ)
- Rest of SEA & Others of APAC
- Japan Data Extraction Software Market
- China Data Extraction Software Market
- Middle East and Africa Data Extraction Software Market
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint
Global Data Extraction Software Market: Segmentation
Segmentation of the Data Extraction Software Market on the Basis of Component:
Segmentation of the Data Extraction Software Market on the Basis of Organization Type:
- Large Enterprises
- Small and Medium Enterprises
Segmentation of the Data Extraction Software Market on the Basis of Deployment Type:
Segmentation of the Data Extraction Software Market on the Basis of Vertical:
- Banking, Financial Services, and Insurance (BFSI)
- IT & Telecommunication
- Medical & Healthcare
- Government and Public Sector
- Others ( Media & Entertainment, Energy & Utility, Defence)
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