Data Extraction Market Expected to Grow $4.90 Billion from $2.14 Billion, Growing at an 11.8% CAGR

Data extraction infers to the process of cleaning, rebuilding, and upgrading the accessible raw data into the ideal configuration to further develop the dynamic capacity of the company. Also, data extraction software helps organizations and representatives to work on the efficiency of the company and to give improved security elements to the organization's significant data. Various benefits given by data extraction software incorporate organizing enormous measure of data, working on the precision of the data, and giving easy access to huge volume of data.

Post COVID-19, education industry is expected to create several lucrative opportunities for data extraction market, owing to rising trend of online education and increase in demand of these tools to enhance the performance of students by adopting suitable policy for them.

By industry upward, the global web data extraction market is driven by the BFSI section in 2019, and is projected to keep up with its strength during the estimate forecast period. This is attributed to surge in adoption of data extraction for analyzing large quantity of financial data of the customers. However, the education segment is expected to grow at the highest rate during the forecast period, owing to increase in adoption of this tools in schools as it provides a conceptual framework of the school subjects and manages the students and their learning record, then performs analysis of their academic achievements.

Region wise, the data extraction market was dominated by North America in 2019, and is supposed to hold its situation during the forecast period. The central point that drive the development of the market in this area remember presence of key players and rise in penetration of data extraction software across the region. However, Asia-Pacific is supposed to observe huge development rate during the forecast period, owing to surge in adoption of mobile and cloud-based technology by SMEs among the developing nations such as China and India.

Key Market Segments

By Component

• Solution
• Service

By Data Type

• Unstructured
• Semi-Structured & Structured

By Deployement Model

• On-Premise
• Cloud

By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises

By Industry Vertical

• BFSI
• Manufacturing
• Healthcare
• Government
• Energy & Utilities
• Transportation
• Retail & E-commerce
• IT & Telecom
• Education
• Others

By Region

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• Australia
• Singapore
• South Korea
• Rest of Asia-Pacific

LAMEA

• Latin America
• Middle East
• Africa

Key Market Players

• Netnut.io
• .Alteryx, Inc.
• ALTAIR ENGINEERING INC.
• Fair Isaac Corporation
• International Business Machines Corporation
• Microsoft Corporation
• Matillion Ltd
• Oracle Corporation
• SAS Institute Inc.
• SAP SE
• .TERADATA CORPORATION