What is Data Extraction?
Data extraction is the process of obtaining data from a database which further replicated to a destination like data warehouse. It is designed to support online analytical processing (OLAP). Data extraction is the first step in a data ingestion process called ETL — extract, transform, and load. It involve retrieval of data from various sources. Growing preference for adopting data extraction platforms is driving the demand for market. However, complexity in data extraction from several sources is challenging to the market growth. Geographically, Asia Pacific region has have been recognized as highly growing market with increasing industrial expenditure of healthcare, BFSI and others. Therefore, Asia Pacific region are considered to be the dominant market over forecast period.
The market study is broken down and major geographies with country level break-up.
The market of Data Extraction is expected to grow with rising industrial verticals. Increasing generation of huge data in several industrial verticals driving the demand for the market. Several companies are operating in the market to provide Data Extraction with various features & unique offering. The market is highly fragmented with the presence of several market players. They are gaining attention owing to their innovative and novel portfolio. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Alteryx, Inc. (United States), Fivetran. (United States), Fair Isaac Corporation (United States), IBM Corporation (United States), Webhose.io. (United States), Microsoft Corporation (United States), KNIME AG (United States), Matillion Ltd. (United States), Oracle Corporation (United States), SAP SE (United States) and Angoss Software Corporation (Canada) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Data Extraction market by Type, Application and Region.
On the basis of geography, the market of Data Extraction has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Data Type, the sub-segment i.e. Unstructured will boost the Data Extraction market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise Size, the sub-segment i.e. Small & Medium Enterprises will boost the Data Extraction market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. On Premise will boost the Data Extraction market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. IT & Telecommunication will boost the Data Extraction market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Data Extraction Type, the sub-segment i.e. Update notification will boost the Data Extraction market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In September 2020, Newgen Software has launched OmniXtract 3.0. It is latest and enhanced version of the provider’s intelligent data extraction software. The new version of the software leverages intelligent technologies to enable the accurate extraction of critical data from both paper and digital documents and offers improved reporting and visualization capabilities. Additionally, the solution collects documents of various design formats and layouts from disparate sources for extraction.
Market Trend
- Huge Adoption of Virtual Data Warehousing
Market Drivers
- Growing Industrial Expenditure of healthcare, IT & Telecommunication, Media & Entertainment and BFSI
- Increasing Unstructured Data Generation
Opportunities
- Growing Technological Advancements with AI in Data Extraction Techniques
- Increasing Need of Storage System for Maintaining Huge Volume of Data
Restraints
- Increasing Concern regarding Safety Concern of Data
Challenges
- Complexity in Data Extraction from Several Sources
Key Target Audience
Data Extraction Providers, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.