LONDON, March 20, 2024 (GLOBE NEWSWIRE) -- The global market for data extraction software has seen significant growth in recent years, as indicated by the latest report titled " Data Extraction Software Global Market Report 2024" from The Business Research Company.
Overview of Data Extraction Software
The data extraction software market has surged, with revenues expected to rise from $1.52 billion in 2023 to $1.76 billion in 2024, marking a 15.6% compound annual growth rate (CAGR). This growth is fueled by factors like military modernization, escalating threats, and network-centric warfare strategies. Forecasts suggest further rapid expansion, reaching $3.15 billion by 2028 with a CAGR of 15.7%, driven by trends such as artificial intelligence integration, software-defined radios adoption, and enhanced connectivity. Notable themes include heightened cybersecurity, technological advancements, and the push for more efficient spectrum use.
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Navigating the Unstructured Data Landscape: Driving the Future of Data Extraction Software
The expansion of unstructured data is anticipated to drive the advancement of the data extraction software market in the future. Unstructured data denotes information lacking a predetermined data model or organization, posing challenges for analysis and necessitating specialized tools and techniques for extraction and processing. Data extraction software plays a crucial role in handling unstructured data by automating processes and offering valuable insights for decision-making. It achieves this by converting unstructured data into a structured format suitable for business intelligence (BI) and analytics applications.
Leading companies in the data extraction software market are prioritizing innovative technological solutions, notably cloud-based AI technologies, to offer tailored services to their clientele. Cloud-based AI technology involves leveraging AI tools and applications hosted and delivered via cloud computing infrastructure.
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Key players in the data extraction software market include
International Business Machines Corporation, UiPath Inc., Hyland Software Inc., Talend Inc., Nintex USA Inc., Fivetran Inc., Hevo Data Inc., Astera Software Corporation, Skyvia Inc., Oxylabs, Nano Net Technologies Inc., AIMLEAP Inc., Ocrolus Inc., Square 9 Softworks, Lexion, Alkymi Inc., Adverity, Bright Data Ltd., Grepsr, AmazingHiring Inc., QuickScraper, ProWebScraper, Scraping Fish, Crawlbase, Extract Systems, Simpleindex
Regional Insights
In 2023, North America stood out as the primary region in the data extraction software market. The regions analyzed in the data extraction software market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Summary of Data Extraction Software Market Segmentation
Segmentation of the data extraction software market in this report includes:
- By Component: Tools, Services
- By Deployment: Cloud, On-Premises
- By Organization Type: Large Enterprises, Small And Medium Enterprises (SMEs)
- By Vertical: Banking, Financial Services, and Insurance (BFSI), Retail, IT And Telecommunication, Medical And Healthcare, Manufacturing, Government And Public Sector, Other Verticals
Data Extraction Software Global Market Report 2024 by The Business Research Company provides insights on the data extraction software market size, data extraction software market segments, data extraction software market trends, data extraction software market drivers and restraints, major competitors’ market positioning, revenues and data extraction software market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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