Data Visualization Tools Market worth $ 11.79 Billion, Globally, by 2028 at 10.40 % CAGR: Verified Market Research™

A rising need to view the data in interactive three-dimensional formats to spot trends and make faster business decisions, and the increasing developments in AR and VR to enable enhanced visualization of data are the primary drivers of growth of the market.

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Jersey City, New Jersey, June 01, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Data Visualization Tools Market” By Tool (Standalone and Integrated), By Organization Size (Large Enterprises and Small & Medium Enterprises), By Deployment Mode (On-Premise & Cloud), By Vertical (Transportations and Logistics, Telecommunications and IT, Manufacturing, Retail and E-Commerce & Others), By Business Function (Human Resources, Marketing, Finance & Operations), and By Geography. According to Verified Market Research, the Global Data Visualization Tools Market was valued at USD 5.36 Billion in 2020 and is projected to reach USD 11.79 Billion by 2028, growing at a CAGR of 10.40% from 2021 to 2028.

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Global Data Visualization Tools Market Overview

An important driver for the growth of the Global Data Visualization Tools market is the rise in the adoption of AR/VR in data visualization to support their businesses. Significant companies across industry verticals are incorporating Augmented Reality and Virtual Reality to get enhanced access to data to make better decisions. Also, it is not necessary to be a data scientist to understand and learn the interactive part of data analytics, people with a basic understanding of data analytics can access it too. Companies such as BadVR, With the advent of data, manually putting together data from various sections in order to make an informed decision is tough, and incorporating AR/VR can present a large quantity of data with different representations, which allows user to see everything at once, which would otherwise require switching between tabs.

COVID-19 has proven to be a positively impacting factor on the growth of the data visualization tools market. With most of the businesses going digital in the wake of COVID-19 and the E-Commerce market witnessing a big spike, businesses across verticals including retail, BFSI, and healthcare have to rely to data analytics more than ever, and the data visualization tools can effectively help in that. A restraint in the Global Data Visualization Market is that the transformation from basic methods of data visualization to moving in with data visualization which combines mixing AI and VR is very significant and needs a skilled workforce and training. It needs investments in significant amounts, apart from the investments needed in installing these transformations. A significant opportunity for the growth of the market is the rising amounts of unstructured data which is available with many business organizations as of present. Companies like Google and Facebook have vast amounts of data with them. Unstructured data such as search results, profile details, and website visits, email correspondences, invoices are all examples of unstructured data which can be taken advantage of using various data visualization techniques be it 2D or 3D.

Key Developments in Data Visualization Tools Market

• In May 2021, MuleSoft, provider of the world's #1 integration and API platform, introduced the next major release of Anypoint Platform™ with DataGraph. Developers can now instantly discover, access, and serve data from multiple existing APIs with a single query, without writing any additional code. The new Anypoint DataGraph allows customers across industries to create composable business capabilities and deliver seamless digital experiences faster.

• In April 2021, Salesforce, [NYSE: CRM], the global leader in CRM, announced that Sonos, the world's leading sound experience company, is using Salesforce to transform its digital shopping capabilities and deliver more personalized customer experiences from anywhere.

The major players in the market are, Inc., SAP SE, Oracle Corporation, IBM Corporation, Microsoft Corporation, Alteryx, Inc., Databox, Inc., GoodData, Dundas Data Visualization, Inc., Toucan Toco among others.

Verified Market Research has segmented the Global Data Visualization Tools Market On the basis of the tool, organization size, deployment mode, vertical, business function, and Geography.

  • Data Visualization Tools Market by Tool
    • Standalone
    • Integrated
  • Data Visualization Tools Market by Organization Size
    • Large Enterprises
    • Small and Medium Enterprises
  • Data Visualization Tools Market by Deployment Mode
    • On-Premise
    • Cloud
  • Data Visualization Tools Market by Vertical
    • Transportations and Logistics
    • Telecommunications and IT
    • Manufacturing
    • Retail and E-Commerce
    • BFSI
    • Government
    • Healthcare and Life Sciences
    • Other Verticals (Media and Entertainment, Travel and Hospitality, Energy and Utilities, and Education)
  • Data Visualization Tools Market by Business Function
    • Human Resources
    • Marketing
    • Finance
    • Operations
  • Data Visualization Tools Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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