Data Preparation Tools Market - Industry Snapshot & Key Buying Criteria

 The Global Data Preparation Tools Market was valued at USD 1.10 billion in 2016 and is predicted to reach USD 8.47 billion by 2025 due to increase in demand for data from various industries for analysis. Data Preparation is the method of collecting, integrating, structuring and organizing data so that is can be examined as a part of visualization, analytics and machine learning applications. The demand for data from retail and IT sector is increasing, due to which the market is expected to grow substantially with a CAGR of 25.1%

The components of data preparation include pre-processing, profiling, cleansing, validation and transformation; it also involves pulling together data from different internal and external sources. Data Preparation is performed by Information Technology and Business Intelligence teams since they combine data sets to store the data in data warehouse, Hadoop data leak repository or NoSQL database. Moreover, data analysts can take the help of self-service data preparation tools to gather and prepare analytical data with data visualization tools like Tableau. Data preparation makes sure that the data to be analyzed is consistent and accurate for the valid and useful results. Sometimes, data is created with inaccuracies, missing values and other errors. Data is also stored in different databases and files that causes confusion and ambiguity for data reconciliation. At such times, data preparation process is required for the improvements like fixing inaccuracies, performing verification, and integrating data sets for improved analytic results.

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The major driving forces of the Data Preparation Market comprise the rising significance of on-time qualified data, benefits of simplified business operations, the growing need to follow regulatory and compliance requirements and the use of data preparation tools in analytical data. The quality of data is influenced by the data storing and management technique. Therefore, businesses are adopting data quality tools for maintaining consistency, which improves decision making. The retail shops, commercial buildings, educational institutions, malls, restaurants, hotels are some of the industries which are extensively adopting data preparation tools for decision making, resource allocation and asset management. The use of Data Preparation Tools in these sectors is largely contributing the Data Preparation Tools Market.

Moreover, data security is one of the issues that is hindering the Data Preparation Market. Also, the costly initial implementation is another factor expected to restrain the Data Preparation Tools Market. Nevertheless, the selection of right cloud infrastructure partner and appropriate analytical tools are challenges for the Data Preparation Tools Market.

The market is categorized on the basis of deployment model, tool type, platform, industry vertical, and geography. On the basis of deployment model, the market is divided into hosted and on premise. On the basis of tool type, market can be divided into data curation, data cataloging, data quality, data ingestion, and data governance. On the basis of platform, the Data Preparation Tools Market can be classified into self-service and data integration data preparation. On the basis of industry vertical, market can be divided into Banking, Financial Services & Insurance, transportation, energy & utility, healthcare, government, IT & telecommunications, manufacturing, and etc.

Geographically, the Data Preparation Tools Market can be segmented as North America, Asia Pacific, Europe, Middle East & Africa and South America. North America is predicted to contribute maximum share of the Data Preparation Tools Market owing to significant growth in demand of data through IOT (Internet of Things) and other connected devices in the area.

Some of the prominent Data Preparation Tools Industry players summarized are Alteryx, Inc., Tableau Software, Inc., Informatica Corporation, Datawatch Corporation, International Business Machines Corporation, Tibco Software Inc., SAS Institute, Microsoft Corporation, SAP SE., Talend, and Qlik Technologies Inc.

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Market Segment:

Data Preparation Tools Platform Outlook (Revenue, USD Million, 2014 - 2025)
• Self-service
• Data integration

Data Preparation Tools Function Outlook (Revenue, USD Million, 2014 - 2025)
• Data collection
• Data cataloging
• Data quality
• Data governance
• Data ingestion
• Data curation

Data Preparation Tools Deployment Outlook (Revenue, USD Million, 2014 - 2025)
• On-premise
• Cloud

Data Preparation Tools Vertical Outlook (Revenue, USD Million, 2014 - 2025)
• IT and Telecom
• Retail and E-commerce
• BFSI
• Government
• Healthcare
• Energy and Utilities
• Transportation
• Manufacturing
• Others

Data Preparation Tools Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Asia Pacific
• China
• Japan
• India
• South America
• Brazil
• Middle East and Africa

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Clinical Decision Support Systems (CDSS) Market Will Grow At A CAGR Of 6.7% In Future

 Global Clinical Decision Support Systems Market is expected to reach USD 791.25 million by 2024. Clinical Decision Support System is also termed, as CDSS is an application that recognizes data to support healthcare providers make clinical decisions. It is a version of the decision support system exclusively used to support business management. To prepare a diagnosis and evaluation of the diagnosis as a means of refining the concluding result. The Clinical Decision Support System (CDSS) Market is estimated to grow at a significant CAGR of 6.7% over the future period as the scope and its applications are rising enormously across the globe.

The increasing government initiatives, growing aging population, acceptance of HCIT solutions in healthcare, and growing number of people suffering from chronic diseases are documented as major factors of clinical decision support systems industry that are estimated to enhance the growth in the years to come. However, saturated end-user market and lack of skilled personnel are the factors that may restrain overall market growth in the forecast period. Clinical Decision Support System industry is segmented based on types, product types, delivery mode, components, user inactivity, application, and region.

Diagnostics CDSS and Standalone CDSS are the types that could be explored in Clinical Decision Support System in the years to come. There are various product types of Clinical Decision Support System that could be explored in forecast period are Integrated CDSS with CPOE & E.H.R., Standalone CDSS, Integrated E.H.R. with CDSS, Integrated CPOE with CDSS, and others. Clinical Decision Support System integrated with CPOE segment accounts for the largest market share of overall market and is estimated to lead the market in the coming years. Moreover, it is estimated to grow at highest CAGR in the upcoming years. This may be because of, acceptance of computerized prescription patterns in developed regions.

The market is categorized based on delivery mode like On-Premises Delivery, Web Delivery, Cloud Delivery, and others. On-premises mode is exclusively preferred due to information safety and privacy issues. It is estimated to lead the overall market in the years to come. Also, cloud-based delivery segment is estimated to grow at highest CAGR in the upcoming years.

The software sector is at topmost position due to the need for intervallic software upgradation. However, Services and Hardware are other components that could be explored in Clinical Decision Support System in the future period. The services may include Post-sale and Maintenance Services, Consulting Services, Training and Education Services, and Ongoing IT support and Implementation Services.

Passive CDSS and Active CDSS are the user interactivity that could be explored in Clinical Decision Support System in the upcoming years. Also, the market is categorized based on applications like Drug Dosing Support, Drug-Drug Interactions, Clinical Guidelines, Drug Allergy Alerts, Clinical Reminders, and others. The drug allergy alerts sector is estimated to lead the overall market in the foremost period. However, drug dosing support and drug-drug interactions follow suit.

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Globally, North America accounts for the largest market share of Clinical Decision Support System and is estimated to remain dominant in the years to come. The reason behind the growth of market in this region could be, rising importance on quality of healthcare services, technological enhancement, and presence of reimbursement policies. The United States may be a major consumer of Clinical Decision Support System in this region in forecast period. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth.

However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR of 7.8% in the years to come. The aspects that may be ascribed to the growth comprise, increasing investments in the healthcare sector in countries like Singapore, Australia, India, and China. In addition, developing countries like India and China are the major consumers of Clinical Decision Support System in this region.

The key players of Clinical Decision Support System Market are Siemens Healthcare, EPIC Systems Corporation Inc., Phillips Healthcare, International Business Machines (IBM), Cerner Corporation, Elsevier B.V., McKesson Corporation, Zynx Health, Medical Information Technology, Inc., Wolters Kluwer Health, and Allscripts Healthcare Solutions. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

Market Segment:

Clinical Decision Support Systems Product Outlook (Revenue, USD Million, 2013 - 2024)
• Standalone CDSS
• Integrated CPOE with CDSS
• Integrated E.H.R. with CDSS
• Integrated CDSS with CPOE & E.H.R.

Clinical Decision Support Systems Application Outlook (Revenue, USD Million, 2013 - 2024)
• Drug-drug interactions
• Drug allergy alerts
• Clinical reminders
• Clinical guidelines
• Drug dosing support
• Others

Clinical Decision Support Systems Delivery Mode Outlook (Revenue, USD Million, 2013 - 2024)
• Web Delivery
• Cloud Delivery
• On Premises Delivery

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Clinical Decision Support Systems Component Outlook (Revenue, USD Million, 2013 - 2024)
• Hardware
• Software
• Services

Clinical Decision Support Systems Regional Outlook (Revenue, USD Million, 2013 - 2024)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Middle East and Africa (MEA)
• South Africa

Batch Management Software Market Will Grow As Of Rising Demand For Enhanced Production

 Batch management software market is expected to grow at a CAGR of over 7%. Rising demand for enhanced production and importance to quality is expected to drive the market growth over the period. Food and beverages, chemicals, Pharmaceutical and biotech industries are the major users of batch management systems. However this software is also significant in mining and metals, cement and glass, pulp and paper.

To maintain customer satisfaction and loyalty in order to reduce the risk of product recall is anticipated to drive the batch management software market. The growing importance of social media through which consumers can easily share their opinions and criticism regarding the quality of the product. This may affect the reputation of the company and can be an important differentiation in a very competitive market.

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Increase importance of time to market is also expected to stimulate the demand for batch management software. In a time based competition, length of time taken from generation of an idea to the finished product is critical for a reduced production cycle time. By reducing the total time needed for a product to reach the market the consumers will be able to purchase it, thus making the company more profitable in a short span of time. Batch management software helps in reducing the time to market and reduce the speed to market for development of new products which is very efficient in pharmaceutical and biotech industries particularly.

Increased regulation on food and drug safety play a major role in the market. According to title 21 Part 11 of the food and drug administration (FDA) which implies that all the processes audits, controls, system validations, electronic signatures and documentation are to be maintained in electronic format by all the pharmaceutical industries, biotech companies, medical device manufacturers and other FDA regulated industries. Through the batch management software, all the companies will be able to make traceability information of products available to the authorities on demand.

Maintaining the system would be a major restraint for the batch management software. One on staff expert or two can maintain a simple batch application, however it becomes difficult to manage the software or the codes with a single expert as the complexity increases .Non availability of skilled workforce can restraint the company to proceed with the processes. Batch manufacturers need to shift to more advanced batch applications to be more efficient and cost effective. They need to be more responsive to the consumer needs and produce products more economically.

Evolution of business system integration will help the batch management software products and their market size. Closer integration with business systems, implementing analytical technologies and use of different working models and workflow engines anticipate major changes that will shape batch management products.

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Governments in developed economies are replacing custom batch solutions with other basic software. The manufacturers are enhancing the use of their systems while associating production by attempting to maintain product flexibility. There is a continuous growth in consumer goods and durables which leads to high demand for quality and variety increasing the implementation of Batch management software. Many of the manufacturing facilities have little to no automation infrastructure and are primarily operated manually. These factors enhance the deployment of BMS systems globally.

Batch management software can be segmented on the basis of their functionalities which includes recipe management and execution, production scheduling, historian and reporting, quality management, resource and inventory management. Wonderware Inbatch is a control system independent batch management system introduced to deploy BMS to run new product recipes, reducing the time to market and recipe validation efforts in regulated industries.

The major players in the market are pharmaceutical, biotech and chemical industries followed by food and beverage, pulp & paper, mining & metals, cement & glass. Geographically Batch management software market can be segmented as North America, Europe, and Asia pacific. The U.S. alone holds around 40% of the global pharmaceutical market, six out of the total eleven countries are based in the country. Increased requirements for standard solutions across many facilities globally, many suppliers are responding with improved technology, developed and user friendly tools which would provide greater visibility to the manufacturing operations.

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Digital Therapeutics Market Position, Estimates & Trend Analysis Report to 2025

 Industry Insights

The global digital therapeutics market size was estimated at USD 1.7 billion in 2016. Digital therapeutics is a subset of digital health and is used to track health conditions and self-management of a medical condition. A significant change in the usage of digital technology has created cognizance among users and has allowed increasing adoption of these services. Moreover, there has been increased burden of the chronic diseases that requires effective treatment and management. There are a lot of services provided by digital therapeutics that aid in embracing healthy habits and allow efficient tracking and management of conditions. Digital therapeutics is thus estimated to grow at a fast rate owing to increasing adoption among patients and other end users.

There has been a significant rise in internet usage among people which has been one of the significant drivers for the digital therapeutic market. Moreover, the treatment associated with the digital therapeutics is popular which is further adding to the growth of the digital therapeutic market. Chronic diseases are major problems and act as threats to the economy leading to high healthcare expenditure. For instance, according to the CDC, about 50 % of the adult population were suffering from the chronic diseases in 2012. As chronic diseases like diabetes, obesity and other respiratory problems are well managed with the help of the digital therapeutics they are being used on an increasing level.

The market growth is affected by the lack of the effective monetization techniques which are faced by the application developers. There has been a shortage of the financial earnings which are partially fulfilled by the advertisements, paid content, and other prominent revenue generation strategies.

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Application Insights

Based on the application, the market is classified into diabetes, obesity, cardiovascular diseases, central nervous system disease, respiratory diseases, smoking cessation, and others. Diabetes accounts for the largest market share of the application segment followed by other applications. Diabetes causes heavy burden on patients as well economies on the health front as well as the economic front. For instance, 8.3 % of the U.S. population suffer from diabetes while 35% of them exhibit prediabetes symptoms. Also diabetes is expected to show the fastest growth in the application segment due to the high prevalence and incidence of the disease. Digital management is helpful in the management of the symptoms of diabetes such as polyuria, polydipsia, and polyphagia. A large number of medical practitioners are using mHealth and have estimated that diabetes would reach its highest market limit in the next 5 years.

End use insights

Based on end use, the digital therapeutics market is divided into the patients, employers, providers, payers, and others. Patients are the major consumers of the therapeutic healthcare programs and applications offered by digital therapeutics. The usage of these services has been attributed due to increasing cognizance and added benefits offered by digital therapeutics.

Hospitals accounted for the largest market share owing to increased usage of digital therapeutics services for patients admitted in these settings. The utilization of these services allows affordable and vital healthcare to patients.

Regional Insights

The digital therapeutics market by region is characterized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is a market dominator in digital therapeutic market. Growing number of reforms to limit the surge in healthcare expenditure in the country coupled with drive to focus on a patient-centric healthcare approach is anticipated to be accountable for the same. Furthermore, North America is a major center of a great amount of digital therapy suppliers. The U.S. has been conveyed to spend about USD 3 trillion a year on healthcare. In order to limit this expenditure, there is a vigorous swing in the U.S. healthcare sector that emphasis focused towards palliative care, to endorse overall patient wellness as an alternative of medical treatment.

Asia Pacific is anticipated to record fastest growth rate, due to two main attributes, namely, a highly solid population base that adapts into an enormous target base and rapid development that involves fast changing technological scenario. Moreover, constant improvements in countries to check the deficiency of proper infrastructure and preserve sustainable growth through economic intervention is expected to help the market growth

Competitive Insights

Some of the key companies in the market comprises of Livongo Health; Twine health, Inc.; Omada Health, Inc.; 2Morrow, Inc.; Propeller Health; WellDoc, Inc.; Canary Health, Inc.; Proteus Digital Health, Inc.; and Mango Health, Inc. Digital therapeutics is in its preliminary stages of development and is expected to increase its presence in the digital market with increasing adoption of apps and services offered by developers. Dominant players in the market are focused on development of user friendly and simple interfaces that allows customers to use these services on a larger level at ease.

However, growth probability is considered to be great in the market, which is contributed by growing adoption of therapeutic applications by leading healthcare providers to provide better treatment options to patients.

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Market Segment:

Application Outlook (Revenue, USD Million; 2014 - 2025)
• Diabetes
• Obesity
• CVD
• CNS Disease
• Respiratory Diseases
• Smoking Cessation
• Others

End use Outlook (Revenue, USD Million; 2014 - 2025)
• Patients
• Providers
• Payers
• Employers
• Others

Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Latin America
• Brazil
• Mexico
• MEA
• South Africa

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ERP Software Market Key Opportunities, Share, Estimates and Forecasts To 2022

 Industry Insights

In 2014, the ERP software market size was valued USD 27,648 millions globally. ERP system is a shared database that supports different business units. Integration of various functions in different business unit, transparency, and efficiency is predicted to drive the market over a forecast period. The need of streamlined processing in aerospace, defense, government utilities and industries will play a major role in market growth over a given period.

ERP is business management software that collect, stores, manage and interprets data from many business activities, thus allowing smooth flow of processes and better decision making and productivity. In Emerging economies such as Brazil, India and China the product will have great demand due to increasing number of SMEs. Development in IT sector, penetration of IT firms, and changing consumer behaviour in these regions will lead to adoption of ERP software over manual operations.

The inventory cost can be reduced 25% to 30% and raw material cost by 15% due to implementation of ERP in an organization. Low inventory cost and raw material cost will result in increased profits of firms, thus boosting demand for product in next seven years.

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Function Insights

In 2014, the use of ERP software in financial sector accounted about 22% of market share. It maintains proper order and record of all activities in a reliable and precise way. Management of different financial activities such as asset management, investments, accounting and cash flow management with ease and simplicity is expected to increase demand.

Human resource segment on the other hand also had a significant share in market due to expansion of different organizations in recent time. Expansion leads to increase in processes and complexity thus resulting in use of ERP software. Benefits such as automated process, enhanced information sharing and collaboration have helped in adoption of ERP software.

Deployment Insights

In 2014, Over 60% of market share was of ERP software based on on-premise deployment. Continuous control and high data security in an organization are benefits provided by on-premise deployment model which is expected to drive the market.

The second largest market share in 2014 was of Cloud deployment and it is expected to maintain its dominance in next seven years. Major factors for its demand are low infrastructure requirement with its capability to tune with other devices such as tablets and mobile phones.

Vertical Insights

In 2014, Manufacturing and services accounted 15% of market share. Operations such as tracking day-by-day performance, customer service and monitoring daily operations are guided by ERP software. The demand for product is expected to increase due its capabilities like ease of production scheduling, real time data tracking and inventory management. It will propel the growth in forecasted period.

In addition, due to adoption of IT infrastructure Government utilities also accounted significant market share. High adoption of ERP in Europe and North America is expected to drive market in coming period.

End-user Insights

SMEs accounted for over 40.0% of the market share in 2014. Proper management of database is required if the firm is in expansion phase. The key factors such as reduced production cost, increased operational efficiency and on-time product delivery is expected to augment product demand. In industrial sector, better supply chain, reduced complexity, better CRM and improved data access has facilitated the utilization of ERP software.

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Regional Insights

Continuous technological advancement in ERP software in association with presence of different players has helped its growth in North America and the region account for a share over 40% in ERP software market. Application of ERP along with mobiles phones is anticipated to drive market in next seven years.

In 2013, European Union claimed 26% of its enterprise use ERP which was 5% more as compared to 2010. Leading players such as Oracle, Unit4, SAP and Syspro will boom market.

Manufacturing sector is expanding and developing at a extreme rate in Asia pacific, this will result in increase demand for ERP. Government support and cooperation for implementation for ERP will help to propel market.

Competitive Insights

The market is divided as there are different companies in market worldwide. Acquisition, innovation and new product development are key strategies opted by companies. IBM corporation, NetSuite Inc., Syspro, Unit4, Microsoft Corporation, Infor, SAP SE and Totvs S.A are key players in market.

Market Segment:

Global ERP Software Deployment Outlook (Revenue, USD Million, 2012 - 2022)
• On-premise
• Cloud

Global ERP Software Functions Outlook (Revenue, USD Million, 2012 - 2022)
• Finance
• Human resource (HR)
• Supply chain
• Others

Global ERP Software Verticals Outlook (Revenue, USD Million, 2012 - 2022)
• Manufacturing & services
• BFSI
• Healthcare
• Retail
• Government utilities
• Aerospace & defense
• Telecom
• Others

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Global ERP Software End-User Outlook (Revenue, USD Million, 2012 - 2022)
• Large enterprises
• Medium enterprises
• Small enterprises

Global ERP Software regions Outlook (Revenue, USD Million, 2012 - 2022)
• North America
• Europe
• Asia Pacific
• Rest of World