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Global data visualization tools market was valued at US$ 5.1 Billion in 2020 and is expected to surpass US$ 11.6 Billion by 2028, registering a CAGR of 11.1% during the forecast period (2021-2028), according to the Global Data Visualization Tools Market Report, by Deployment (On-premise, and Cloud), by Tool (Standalone, and Integrated), by Organization Size (Large Enterprises, Small and Medium Enterprises (SMEs)), by End Use Vertical (BFSI, IT and Telecom, Retail and E-commerce, Healthcare, Manufacturing, Government, and Other), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa), published by Coherent Market Insights.

Global data visualization tools market is expected to grow by 2028, driven by factors such as increasing demand for an interactive view of data for faster business decisions and increasing developments in Augmented Reality (AR) and Virtual Reality (VR) to enable companies to interact with data in 3D formats.

BFSI, government, healthcare, retail and E-commerce, manufacturing, telecommunication, IT and logistics, are the end use verticals of data visualization tools market. During the forecast period, the BFSI sector is likely to dominate the market. Data visualization tools enable sales managers to track sales performance against quarterly revenue objectives, the proportion of closed transactions, and the status of deal stages in the sales funnel, which has contributed to the market growth. Data visualization tools assist companies to plan future strategies. Unstructured data, such as output from medical equipment, picture reports, and lab results, are not valuable in improving patient health. Data visualization technologies are being used by healthcare professionals to assist them obtain real-time data insights and enhance patient’s health.

During the forecast period, North America region is estimated to account for the highest market share. Because of the presence of important data visualization tools providers in the region, the region is seeing substantial technical developments in the global data visualization tools market. The region's development can also be linked to firms' increasing attention on cloud-based data visualization technologies that enable real-time data. During the projection period, Asia Pacific is expected to expand at the fastest rate. Increased use of digital technology by individuals and enterprises in important nations such as China, India, and Japan has driven the expansion of data visualization tools market. Additionally, new investments and technological developments are driving the growth of data visualization tools market.

Global Data Visualization Tools Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 is an unprecedented worldwide public health crisis that has impacted nearly every business. Due to Covid-19 pandemic, there has been an increase in the usage of line charts, bar charts, and scatter plot maps in the news. Data visualizations technology made easy to communicate vital information in simplified manner. Due to COVID-19 several healthcare organizations have started using interactive data visualization tools. In post pandemic scenario the data visualization tools market will see the growth as various industries will start using data visualization tools.

To know the latest trends and insights prevalent in this market, click the link below:

Browse 150 market data tables* and 90 figures* on “Global Data Visualization Tools Market- Global forecast to 2028”

Key Trends and Analysis of the Global Data Visualization Tools Market:

  • North America is expected to have a large market share. Factors such as the rise of big data and the demand for analytics in the retail industry are driving data visualization applications in North America. North America, as a key market for technology-based solutions, is seeing an increase in the requirement to collect data from multiple sources and compile it into various data representations in order to make crucial business choices. North America is projected to have a substantial share in the global data visualization tools market. Because of the growing amount of data created by small and medium-sized businesses (SMEs), the data visualization market in the U.S. is booming.
  • The retail and E-commerce segment is expected to grow at a significant CAGR during the forecast period. The quantity of data created by different sources, such as social networks, blogs, and applications, is rapidly increasing in the E-commerce industry. The majority of unstructured data created goes unused, despite the fact that it may give important information if utilized. Companies all over the world have been working on improving their networking, communication solutions, and gadgets, resulting in a massive amount of big data. This is then studied a consumer's habit and purchase behavior, which is projected to drive market growth during the projection period.
  • Major players operating in the global data visualization tools market include Tableau Software Inc., SAPSE, IBM ,Oracle Corporation, Microsoft Corporation, AWS, Sisense, Dundas Data Visualization Inc., TIBCO Software Inc., Qlik, GoodData, Domo, Klipfolio, Datafay, Whatagraph, Databox, Datapine, Alteryx, SAS Institute Inc., Alibaba Cloud, and MATLAB.
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