The Global Data Visualization Tools Market size is expected to reach $10.8 billion by 2027, rising at a market growth of 11.2% CAGR during the forecast period. Data visualization refers to a collection of a broad range of business applications. The concept of visualizing data is widely utilized in a variety of technologies & terms like scorecards, dashboards, business intelligence, infographics, analytics and big data. It helps businesses to obtain a relevant report from an ever-growing, wide and huge amount of business data.
There are several customers who believe that the utilization of big data by data visualization that contributes to improved and better decision making. There is an increasing amount of data witnessed by the retail industry in recent time through numerous channels like apps, blogs and social sites. The majority of the unorganized data generated is not utilized that can provide important information, if properly utilized. The integration of the Internet of Things (IoT) in the retail industry has augmented in the last few years due to the increased usage of gadgets like RFID and sensors.
Data visualization tools offer a wide variety of benefits to the companies such as better understanding, accurate analysis of the data, better decision making, boost sales, identification of various trends & patterns in the competitive market etc. All these benefits of data visualization tools help organizations to address their issue at an initial level, generate more insights from available data and support the business growth of the companies.
The market of data visualization tools has recorded various improvements especially in tools that are provided by the industry players. Due to the covid-19 pandemic, different verticals like retail, manufacturing, and energy & utilities have registered a slight decline but some verticals like government, BFSI, and healthcare & life sciences have seen a minimal impact of the pandemic. There is increasing usage of bar charts, line charts, and choropleth maps in the news due to the pandemic. The simple data visualizations have been widely utilized to communicate crucial information about the COVID-19 pandemic to the public. The most appealing improvements that took place owing to the COVID-19 situation is that companies that are best at the developments of dashboards integrate the analytics & decision-making approaches and spread them significantly over all the connected channels.
Based on Tool Type, the market is segmented into Standalone and Integrated. The Standalone market dominated the Global Data Visualization Tools Market by Tool Type 2020, growing at a CAGR of 10.2 % during the forecast period. The Integrated market is experiencing a CAGR of 13.2% during (2021 - 2027).
Based on Business Function Type, the market is segmented into Marketing & Sales, Human Resources, Operations and Others. Based on business function, the marketing & sales segment is anticipated to witness the largest market share over the forecast period. It is because the usage of data visualization tools helps sales managers to keep an eye on sales performance against quarterly objectives for revenue, the status of the deal stages in the sales process and the percentage of closed deals.
Based on Deployment Type, the market is segmented into On-premise and Cloud. On the basis of deployment type, the on-premise segment would acquire the largest market share over the forecast period. Factors that are supporting the high adoption of on-premises-based data visualization tools are secure data encryption, complete data visibility along with the improved control over data at a different location and the real-time accessibility of data for generating insights.
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. The Large Enterprises market dominated the Global Data Visualization Tools Market by Enterprise Size 2020, growing at a CAGR of 10.4 % during the forecast period. The Small & Medium Enterprises market is estimated to grow at a CAGR of 12.8% during (2021 - 2027).
Based on End User, the market is segmented into BFSI, Government & Defense, IT & Telecom, Healthcare, Manufacturing, Consumer Goods & Retail and Others. By vertical, the BFSI vertical is estimated to hold the biggest market share over the forecast period. In addition, the healthcare & life sciences vertical would exhibit the highest growth rate during the forecast period. Getting access to unstructured data like the output from medical devices, image reports and lab reports is not helpful to enhance a patient’s health. Healthcare providers are majorly utilizing data visualization tools, which help them to accumulate real-time data insights to enhance a patient’s health.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 4.7 Billion |
| Market size forecast in 2027 | USD 10.8 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 11.2% from 2021 to 2027 |
| Number of Pages | 330 |
| Number of Tables | 553 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling, Competitive Landscape |
| Segments covered | Tool Type, Business Function Type, Deployment Type, Enterprise Size, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Region-wise, North America would emerge as the leading region in the data visualization tools market. In this regional growth, a majority of stakes are acquired by the US in the data visualization tools market. This growth is attributed to the growing amount of data generated by the small- and medium-scale companies in the US market.
Free Valuable Insights: Global Data Visualization Tools Market size to reach USD 10.8 Billion by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Amazon.com, Inc., Alibaba Group Holdings Limited, and Microsoft Corporation are the major forerunners in the Data Visualization Tools Market. Companies such as Salesforce.com, Inc., IBM Corporation, and Oracle Corporation are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Salesforce.com, Inc., SAP SE, Microsoft Corporation, Amazon.com, Inc., IBM Corporation, Oracle Corporation, Alibaba Group Holdings Limited, Alteryx, Inc., SAS Institute, Inc., and Dundas Data Visualization Inc.
By Tool Type
By Business Function Type
By Deployment Type
By Enterprise Size
By End User
By Geography
The customer relationship market size is projected to reach USD 10.8 billion by 2027.
The increasing requirement to make interactive dashboards from unused data are driving the market in coming years, however Variety in data formats have limited the growth of the market.
Salesforce.com, Inc., SAP SE, Microsoft Corporation, Amazon.com, Inc., IBM Corporation, Oracle Corporation, Alibaba Group Holdings Limited, Alteryx, Inc., SAS Institute, Inc., and Dundas Data Visualization Inc.
The Marketing & Sales market dominated the Global Data Visualization Tools Market by Business Function Type 2020, and would continue to be a dominant market till 2027; growing at a CAGR of 10.7 % during the forecast period.
The cloud market segment is projected to register the highest growth rate during the forecast period.
The North America market dominated the Global Data Visualization Tools Market by Region 2020. The Asia Pacific is estimated to garner the highest growth rate over the forecast period.
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