What Has Been The Evolution of the Data Visualization Tools Market in Recent Years?
The data visualization tools market has seen considerable growth due to a variety of factors.
• The market for data visualization tools has seen substantial expansion recently. The market size is projected to increase from $8.55 billion in 2024 to $9.52 billion in 2025, with a compound annual growth rate (CAGR) of 11.3%. Factors such as a more complex data landscape, the rising recognition of data-informed decision making, global expansion of companies, regulatory requirements, the need for instantaneous insights, and user-friendly interfaces have contributed to this growth in the historical period.
How Will the Data Visualization Tools Market?
The Data Visualization Tools market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming few years, the market size for data visualization tools is anticipated to experience substantial growth, expanding to $15.75 billion in 2029 with a compound annual growth rate (CAGR) of 13.4%.
This anticipated growth during the forecast period can be credited to factors such as a heightened focus on predictive analytics, improved visualization for cybersecurity, tailored and personalized solutions, the democratization of data, and an emphasis on sustainability analytics. Key trends expected during the forecast duration encompass an increased interest in self-service bi, progress in augmented analytics, real-time and streaming data visualization, emphasis on mobile-compatible visualizations, merging with data preparation tools, data governance and security features, along with a focus on accessibility and inclusivity.
Which Factors Are Boosting Growth In The Data Visualization Tools Market?
The surge in big data is anticipated to fuel the expansion of the data visualization tools market. Big data pertains to the vast, complex body of both structured and unstructured data that floods businesses daily. It primarily originates from sources like social media, streaming data, and data available to the public. Given the trillions of rows of data generated daily, visualization is becoming an increasingly vital tool. For example, data from EarthWeb, a US-based resource discovery platform, states that in July 2022, WhatsApp users logged over 55 million video calls per day and sent more than 65 billion messages daily in 2020, a figure that rose to 100 billion messages each day. Thus, the big data surge is steering the growth of the data visualization tools market.
What Key Areas Define The Segmentation Of The Global Data Visualization Tools Market?
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 E-Commerce, Manufacturing, Transportation And Logistics, Telecommunications And Information Technology (IT), Other Verticals
Subsegments:
1) By Standalone: Desktop Applications, Web-Based Solutions
2) By Integrated: Business Intelligence (BI) Platforms, Data Analytics Software, Cloud-Based Integrated Tools
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How Are Emerging Trends Reshaping The Dynamics Of The Data Visualization Tools Market?
The progression of technology is a significant trend within the data visualization tools industry. Big players in this market are focusing on inventing new technical advances to bolster their competitiveness. For instance, GrubMarket, an America-based food technology company, unveiled the GrubAssist Charts, a tool powered by artificial intelligence for data visualization, in September 2024. This feature, found within GrubMarket's AI enterprise assistant, GrubAssist, is intended to aid food distribution businesses in transforming complicated data into dynamic, comprehensible charts and graphs. Using natural language prompts, users can create visually intuitive reports tailored to their necessities, facilitating the tracking of key performance indicators (KPIs), analysis of sales patterns, and supervision of vendor and customer profitability. Available on both desktop and mobile, this feature simplifies the comprehension of data for business leaders, analysts, and sales teams, leading to better-informed decision making.
Who Are the Key Players In The Data Visualization Tools Market?
Major companies operating in the data visualization tools market include:
• 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
• 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.
What Is The Most Dominant Region In The Data Visualization Tools Market?
North America was the largest region in the data visualization tools market in 2024. 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.
