Global Data Visualization Tools Market is valued at approximately USD 6.58 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 11.6% over the forecast period 2023-2030. Data visualization refers to the graphical representation of information and data. It involves the use of various visual components, such as charts, graphs, and maps, to present data in a visually engaging and comprehensible manner. These tools enable users to visualize and understand trends, patterns, and outliers within the data. They provide a means to effectively analyze and interpret complex data, leading to enhanced insights and informed decision-making. Moreover the demand for data visualization tools is anticipated to be driven by several factors.
Firstly, there is a growing need for interactive data views that enable faster decision-making in business operations. Additionally, the advancements in Augmented Reality (AR) and Virtual Reality (VR) technologies are facilitating the interaction of companies with data in immersive 3D formats. These developments are expected to fuel the demand for data visualization tools, as they enhance the visual representation and exploration of data, leading to better insights and informed decision-making.
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Data visualization tools are being integrated with emerging technologies such as artificial intelligence (AI) and machine learning (ML) to enhance their capabilities. This integration enables automated data analysis, predictive modeling, and interactive visualizations, further driving the adoption of data visualization tools. As per the International Trade Administration, the global AI industry is experiencing remarkable growth and success. In 2021, the global funding for AI doubled to USD 66.8 billion, demonstrating significant investor confidence in the industry. Notably, a record-breaking number of 65 AI companies achieved valuations exceeding USD 1 billion, marking a substantial increase of 442% compared to the previous year. This data reflects the increasing adoption of AI solutions by companies and governments worldwide, showcasing the expanding global reach and influence of AI technology. The data visualization market is experiencing significant growth driven by increasing digitization trends across various industries have led to a substantial rise in digital data production. Additionally, there is a surge in demand for operation optimization and data analytics solutions. However, the scarcity of a skilled workforce stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Data Visualization Tools Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East Africa. North America dominated the market in 2022 owing to the dominance of strong technological advancements, particularly in the field of data analytics and visualization. The region is home to many leading technology companies and research institutions that drive innovation in data visualization tools. Asia Pacific is expected to grow significantly during the forecast period, the increasing recognition among companies in significant countries such as China, India, and Japan to extract insights from data silos is anticipated to drive the adoption of data visualization tools. Furthermore, the commercialization of AI and ML technology, resulting in the generation of real-time data, and the demand for further advancements to fully leverage its benefits are expected to boost the adoption of data visualization tools in the region.
Major market player included in this report are:
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 Corporation
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Recent Developments in the Market:
In February 2020 2022, Alteryx formed a strategic partnership with Tech Data, an APA company specializing in automating analytics, data science, and processes for enhanced business outcomes. The collaboration is focused on granting Tech Data and its partner’s exclusive access to the Alteryx unified platform. By leveraging this platform, businesses can streamline analytics, data science, and process automation, thereby expediting their digital transformation initiatives to deliver improved customer experiences.
In March 2021, Tableau recently unveiled a dedicated region in London, UK, aimed at leveraging its fully hosted Software-as-a-Service (SaaS) solution, Tableau Online, to unlock valuable data insights. This dedicated region mayprovide Tableau’s customers with improved performance and greater options in terms of data locality. The SaaS offering is expected tobe hosted by Amazon Web Services (AWS) infrastructure located in London. By utilizing Tableau Online, the rapidly expanding European customer base can gain instant access to data, analyse it effectively, and share valuable insights through powerful visualizations.
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Tool, Organisation Size, Deployment Mode, Business Function, Vertical, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional segment scope*
The objective of the study is to define market sizes of different segments countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Tool:
Standalone
Integrated
By Organization Size:
Large Enterprises
Small and Medium-sized Enterprises (SMEs)
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By Deployment Mode:
On-premises
Cloud
By Business Function:
Marketing and Sales
Human Resources
Operations
Finance
By Vertical:
BFSI
Telecommunications and IT
Healthcare and Life Sciences
Government
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East Africa
Saudi Arabia
South Africa
Rest of Middle East Africa
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