Global Data Visualization Tools market growth 2024, Forecast To 2033
4 Mar, 2024
The data visualization tools market has seen rapid expansion, climbing from $7.77 billion in 2023 to$8.75 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. This growth is attributed to the increasing complexity of data, growing awareness of data-driven decision-making, globalization trends, regulatory compliance requirements, demand for real-time insights, and user-friendly interfaces. Forecasts indicate continued rapid growth, with the market projected to reach $13.82 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. This growth will be driven by a heightened focus on predictive analytics, enhanced cybersecurity visualization, customization, data democratization, and sustainability analytics. Key trends include increased adoption of self-service BI, augmented analytics advancements, real-time data visualization, mobile-friendly interfaces, integration with data preparation tools, data governance, security features, and accessibility enhancements.
Global Data Visualization Tools Market Key Driver
The data visualization tools market is witnessing growth propelled by the proliferation of big data across various industries. Big data, characterized by vast volumes of structured and unstructured information, presents both challenges and opportunities for businesses. Visualization tools enable organizations to comprehend and derive insights from complex datasets efficiently. EarthWeb's July 2022 data revealed staggering statistics from WhatsApp, indicating a significant increase in user interactions over the years. This surge in big data usage underscores the importance of effective data visualization tools for extracting actionable insights. Therefore, the growth in big data usage is driving the data visualization tools market, reflecting expected market sizes for 2023, 2024, and 2028.
Get A Free Sample Of The Global Data Visualization Tools Market ReportGlobal Data Visualization Tools Market Segments
The global 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
By Geography: The regions covered in the data visualization tools market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the data visualization tools market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data visualization tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Data Visualization Tools Industry Players
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.
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Data Visualization Tools 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.
Data Visualization Tools Global Market Report 2023 provides data on the global data visualization tools market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The data visualization tools market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.