Press release
Data Visualization Tools Market growing at a CAGR of 10.2% and to generate $19.5 billion by 2031
Data Visualization Tools Market
The data visualization tools market size was valued at $7.4 billion in 2021, and is estimated to reach $19.5 billion by 2031, growing at a CAGR of 10.2% from 2022 to 2031.
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Data visualization software refers to the use of standard visuals to depict data, such as charts, plots, infographics, and even animations. These information visualizations explain complicated data linkages and data-driven insights in an easy-to-understand manner. Data visualization can be used for a number of objectives, and it is crucial to highlight that it is not limited to data processing teams. Moreover, it is also used by management to communicate organizational structure and hierarchy, and data analysts and data scientists utilize it to identify and explain data patterns and trends.
Furthermore, key factors that drive the growth of the data visualization software market include the growing demand for work from home and remote working policies during the period of the COVID-19 pandemic aided in propelling the growth of the global data analytics and remote management solutions, hence empowering the demand for the data visualization tools industry. However, data privacy and sharing challenges on data visualization tools platforms can hamper the data visualization tools market forecast. On the contrary, the integration of advanced tools such as machine learning and data analytics with data visualization tools solutions suites are expected to offer remunerative opportunities for expansion of the data visualization tools industry during the forecast period.
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Competitive Analysis:
The competitive environment of Data Visualization Tools Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Data Visualization Tools Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
Alibaba Group Holding Limited
ALTERYX, INC.
Amazon Web Services, Inc.
Domo, Inc.
Dundas Data Visualization, Inc.
GoodData Corporation
International Business Machines Corporation
Klipfolio Inc.
Microsoft Corporation
Oracle
QlikTech International AB
Salesforce, Inc.
SAP SE
SAS Institute Inc.
Sisense Inc.
TIBCO Software Inc.
Zegami
Region wise, the data visualization tools market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its highly advanced technology sector which is expected to drive the market for data visualization tools within the region during the forecast period. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to its growing digital capabilities and a highly competitive market space, which is expected to fuel the data visualization tools market growth in the region in the coming few years.
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Key Questions Answered in the Intelligent Study
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
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