The global data visualization market size stood at USD 8.85 billion in 2019 and is projected to reach USD 19.20 billion by 2027, exhibiting a CAGR of 10.2% during the forecast period.
Software vendors are focusing on providing visualization tools inclusive of real-time analytics, which can be used for predictive analysis. With this feature, companies are emphasizing on accessing the latest information such as sales data for informed decision making and building better marketing strategies. Moreover, predictive analytics-enabled visualization platforms also help to create projections based on real-time data opted from visual data discovery tools. Similarly, the visualization platform enables business executives and representatives to gain insights from a large amount of unstructured data. This helps executives and representatives to deliver best-suitable and efficient software advisory services to their customers. With all these features and capabilities, predictive analytics-enabled visualization tools are currently trending in the market.
View Recent Press Release For More Information:- https://www.marketwatch.com/press-release/data-visualization-market-analysis-2020-top-companies-portfolio-future-outlook-latest-trends-revenue-growth-analysis-regional-forecast-till-2027-2020-07-27
Key Industry Developments of the Market Include:
April 2020- Tableau Software, LLC collaborated with the U.S. Census Bureau and launched Response Rate Map which uses Tableau Public. This platform will help to mobilize participation, enhance customer experience and data transparency to the Census.
November 2019– Tableau Software, LLC expanded their strategic relationship with Amazon Web Services, Inc. (AWS) by announcing a new initiative “Modern Cloud Analytics (MCA)” which enables their customers to experience the flexibility of self-service analytics in cloud computing.
July 2019– Larsen & Toubro Infotech Ltd. (LTI) signed an agreement to acquire Lymbyc Solutions Pvt. Ltd. to strengthen LTI’s digital and analytics offerings and enhance their platform with deep learning, natural language processing (NLP), and visualization capabilities
Fortune Business Insights™ lists out the names of all the providers. They are as follows:
- Alteryx, Inc. (California, United States)
- Visually, Inc. (California, United States)
- Adaptive Insights (Subsidiary of Workday, Inc.) (California, United States)
- SAP SE (Walldorf, Germany)
- Dundas Data Visualization, Inc. (Toronto, Canada)
- IBM Corporation (New York, United States)
- Domo, Inc. (Utah, United States)
- Microsoft Corporation (Washington, United States)
- QlikTech International AB (Pennsylvania, United States)
- Highsoft AS (Sogn, Norway)
- Looker Data Sciences, Inc. (California, United States)
- ChartBlocks Ltd. (New York, United States)
- Tableau Software, LLC (California, United States)
- Cluvio GmbH (Berlin, Germany)
- Sisense, Inc. (New York, United States)
- Other vendors
“Increasing Adoption from Retail and E-commerce Industries will Augment Growth”
Data visualization helps to identify the inter-relation between multi-dimensional sets of data and provide practical features for interpreting them. Therefore, most of the small, medium and large enterprises are adopting these tools for scrutinizing the customer buying and other business operational patterns to forecast their future sale strategies accordingly. This acts as a significant factor in promoting data visualization market growth. Additionally, the increasing acceptance of such platforms for software advisory and predictive analysis is also set to aid in the expansion of the market in the forecast period.
On the contrary, the high cost of installing such tools may pose a significant drawback to the market in terms of revenue generation. This, coupled with the lack of centralized data security, may restrict the growth of the market.
Nevertheless, adoption of the Internet of Things (IoT) and artificial intelligence (AI) technologies are likely to result in a massive data pool for both unstructured and structured data, thereby creating better growth opportunities for the market in the coming years.
Considering the future opportunities associated with data and its representation, several companies are investing in enhancing their analytics and visualization capabilities with continuous investments in research and development. Additionally, companies are also focusing on acquiring visualization platform vendors to extend their portfolio and strengthen their analytics and business, intelligence division. For instance, in June 2019, Alphabet, Inc. announced that Google LLC is planning to acquire an analytics software company Looker Data Sciences, Inc., for an estimated USD 2.60 billion.
Regional Analysis for Data Visualization Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for Data Visualization Market:
- Executive Summary
- Market Dynamics
- Key Data Visualization Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2027
- North America Market Analysis, Insights and Forecast, 2015-2027
- Europe Market Analysis, Insights and Forecast, 2015-2027
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2027
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2027
- Latin America Market Analysis, Insights and Forecast, 2015-2027
- Competitive Landscape
- Global Data Visualization Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
Other Exclusive Reports:
Mobile Security Market to Gain Traction Exhibiting 14.65 CAGR by 2027; Increasing Adoption of Enterprise Mobility Globally to Spur Demand
AI-based Fever Detection Camera Market to Reach USD 2.19 Billion by 2027; Rising Deployment by Transport Authorities to Aid Growth
Video Streaming Market to Hit USD 842.93 Billion by 2027 Owing to Wide Utilization as Medical Aid and Educational Platforms
Wireless Microphone Market to Reach USD 3.60 Billion by 2027; Possession of Numerous Benefits to Augment Growth
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
Name: Ashwin Arora
Email: [email protected]
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245