Press release
Data Visualization Tools Market Size, Trends, Growth, Outlook 2024-2033
Data Visualization Tools Market
The data visualization tools market size is expected to see rapid growth in the next few years. It will grow to $13.82 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to increased focus on predictive analytics, enhanced cybersecurity visualization, customization and personalization, data democratization, focus on sustainability analytics. Major trends in the forecast period include increased adoption of self-service bi, advancements in augmented analytics, real-time and streaming data visualization, focus on mobile-friendly visualizations, integration with data preparation tools, data governance and security features, focus on accessibility and inclusivity.
Market Overview -
Data visualization tools refer to software programs that display information visually, such as in graphs, charts, or heat maps, for data analysis. These tools facilitate working with and understanding vast amounts of data. The data visualization tools are used for the transformation of unprocessed data into knowledge, and for data presentation, transparent reporting, scalability with data integration, and data visualization in an intelligent and unique approach.
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Big Data'S Role In Fueling The Growth Of The Data Visualization Tools Market
The growth in big data is expected to propel the growth of the data visualization tools market. Big data is the enormous, complicated volumes of organized and unstructured data that daily inundate businesses. Sources of big data include social media, streaming data, and publicly available data. Visualization is becoming an increasingly important tool to understand the trillions of rows of data produced each day. For instance, in July 2022, according to the data published by EarthWeb, a US-based resource discovery platform, WhatsApp users made over 55 million video calls every day and sent over 65 billion messages daily, in 2020, that increased to 100 billion messages every day. Therefore, the growth in big data is driving the data visualization tools market.
Competitive Landscape -
Major companies operating in the data visualization tools market report are Tableau Software, SAP SE, The International Business Machines Corporation, Oracle Corporation, Microsoft Corporation, Alibaba Group Holding Limited, Alteryx Inc., Amazon Web Services Inc., Domo Inc., Dundas Data Visualization Inc., GoodData Corporation, International Business Machines Corporation, Klipfolio Inc., QlikTech International AB, Salesforce Inc., SAS Institute Inc., Sisense Inc., TIBCO Software Inc., Zegami Ltd., HeapAnalytics Inc., Looker Data Sciences Inc., Google Data Studio, SAP Lumira, MicroStrategy, Yellowfin Business Intelligence, Slemma, Zoho Corporation Pvt. Ltd., Datawrapper Gmbh, ThoughtSpot Inc., Periscope Data Inc.
Technological Advancements Reshaping The Data Visualization Tools Market
Technological advancement is a key trend in the data visualization tools market. Major players in the data visualization tools market are concentrating on creating new technical advancements to improve their competitiveness. For instance, in March 2021, Tableau Software, a US-based company operating in data visualization tools, launched a version of the data visualization platform. This version of the data visualization platform is integrated with Einstein Discovery's predictive modelling and machine learning technology. This technology provides the user with real-time predictions and recommendations. Along with that, the platform had additional features, such as Microsoft Azure connectivity and a redesigned notification experience.
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Key Segments -
The data visualization tools market covered in this report is segmented -
1) By Tool: Standalone, Integrated
2) By Business Function: Marketing and Sales, Human Resources, Operations, Finance
3) By Deployment Mode: On-Premises, Cloud
4) By Organization Size: Large Enterprises, Small and Medium-Sized Enterprises (SMEs)
5) By Vertical: Banking, Financial Services And Insurance (BFSI), Government, Healthcare and Life Sciences, Retail and eCommerce, Manufacturing, Transportation and Logistics, Telecommunications and Information Technology (IT), Other Verticals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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