Report Ocean is a comprehensive analysis of the “Data Visualization Tools Market” that includes both qualitative and quantitative data. The report covers various regions and provides insights into major industry changes, challenges faced by businesses and competitors, and potential new opportunities in the market. It also includes a SWOT analysis, Porter’s Five Forces model, and a value chain review to help readers understand the industry’s position in the market and the stakeholder positions.
Global Data Visualization Tools Market Surpasses USD 6.58 Billion in 2022, Predicts Impressive 11.6% CAGR Growth Until 2030
Valued at approximately USD 6.58 billion in 2022, the Global Data Visualization Tools Market is poised for substantial growth with a robust CAGR of more than 11.6% over the forecast period from 2023 to 2030. Data visualization involves the graphical representation of information and data, utilizing visual components like charts, graphs, and maps. These tools play a pivotal role in presenting complex data in a visually engaging and comprehensible manner, facilitating enhanced insights and informed decision-making. The demand for data visualization tools is expected to be driven by the growing need for interactive data views, advancements in Augmented Reality (AR) and Virtual Reality (VR) technologies, and their integration with emerging technologies such as artificial intelligence (AI) and machine learning (ML).
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The increasing need for interactive data views expedites decision-making in business operations. Advancements in AR and VR technologies enhance the visual representation and exploration of data, leading to better insights. Data visualization tools are integrated with AI and ML to automate data analysis, predictive modeling, and interactive visualizations, further propelling their adoption. The global AI industry experienced remarkable growth, with funding doubling to USD 66.8 billion in 2021.
The market reflects investor confidence, with 65 AI companies achieving valuations exceeding USD 1 billion, marking a substantial increase of 442% compared to the previous year. The data visualization market is witnessing significant growth driven by increasing digitization trends and a surge in demand for operation optimization and data analytics solutions. However, the scarcity of a skilled workforce may impede market growth throughout the forecast period.
North America dominated the market in 2022, driven by strong technological advancements in data analytics and visualization. Asia Pacific is anticipated to exhibit significant growth during the forecast period, with increasing recognition among companies in significant countries such as China, India, and Japan to extract insights from data silos. The commercialization of AI and ML technology, resulting in the generation of real-time data, is expected to boost the adoption of data visualization tools in the region.
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Major Market Players:
Key players in this market include 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, and Oracle Corporation.
- In February 2020, Alteryx formed a strategic partnership with Tech Data, focusing on granting Tech Data and its partners exclusive access to the Alteryx unified platform. This collaboration streamlines analytics, data science, and process automation, expediting digital transformation initiatives.
- In March 2021, Tableau unveiled a dedicated region in London, UK, leveraging its fully hosted Software-as-a-Service (SaaS) solution, Tableau Online. Hosted by Amazon Web Services (AWS) infrastructure, this dedicated region provides Tableau’s European customers with improved performance and greater options in terms of data locality.
Objective of the Study:
The study aims to define market sizes of different segments & countries in recent years and forecast 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 provides detailed information about crucial aspects such as driving factors, challenges, potential opportunities in micro markets, competitive landscape analysis, and product offerings of key players. The detailed segments and sub-segments of the market are explained below:
By Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
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By Deployment Mode:
By Business Function:
- Marketing and Sales
- Human Resources
- Telecommunications and IT
- Healthcare and Life Sciences
- North America
- Asia Pacific
- South Korea
- Historical Data: 2020 – 2021
- Base Year for Estimation: 2022
- Forecast Period: 2023-2030
- 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*
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Key Questions Answered by the Report:
- What are the driving factors for market growth?
- What challenges and limitations does the market face?
- What emerging opportunities exist in the market?
- What potential threats and risks could impact the market?
- What is the current market size and growth rate?
- What are the market segments and their sizes?
- Which regions are projected to experience the highest growth and market share?
- What variables affect different geographical areas?
- Who are the major players in the market and their rankings?
- What recent partnerships, launches, expansions, or acquisitions have occurred among the companies profiled?
- What are the comprehensive profiles of the top market players, including business overview, insights, product benchmarking, and SWOT analysis?
- What is the present market outlook, considering recent changes and growth possibilities?
- What are the drivers, obstacles, and restrictions in both developing and emerging regions?
- How does the market analysis utilize Porter’s five forces analysis?
- How does the Value Chain provide insights into market dynamics?
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