The Global Data Visualization Market Size was worth USD 8.85 billion in 2019 and is anticipated to grow to USD 19.20 billion by 2027, at a CAGR of 10.2%.
The increased emphasis placed by companies and organizations on information visualization, visual analytics, and scientific visualization is the main factor driving market growth. Businessmen have responded to this by investing in visualization tools and forming partnerships with well-known market participants. For instance, to improve its analytical capabilities and provide insights driven by artificial intelligence (AI) to its customers, Salesforce.com, Inc. acquired Tableau Software, LLC in August 2019.
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Information about the report:
- Forecast Timeframe: 2020–2027
- The starting year is 2019
- Market Size in 2019 – USD 8.85 billion
- The market size in 2026 will be USD 19.20 billion
- CAGR – 10.2%
- Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Data Visualization Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The market size is the total amount of money that service providers make when they sell their products to customers. Market share is the portion of the market that a single provider or a group of providers controls. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Data Visualization Market are conducted across regions, end-user industries, and material types. The study includes a thorough examination of segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report’s list of the segments with the highest revenue growth rates.
By Component Analysis,
The market has been broken down into software and services according to components. While the services segment is divided into consulting services and support services, the software segment is further sub-segmented into cloud services and on-premise deployment models. Throughout the forecast period, the software segment is anticipated to account for more than half of the market share. This is most likely a result of businesses all over the world using business intelligence software at a higher rate to improve data interpretation and produce informed insights. For instance, the UK-based University Hospitals of Morecambe Bay NHS Foundation Trust (UHMBT) and QlikTech International AB partnered in July 2019. To prioritize patient care and improve patients’ daily productivity, they implemented an advanced analytics solution.
By Solution Analysis,
The market is divided into standalone software and embedded modules based on solutions. The software’s plug-ins and visualization APIs are covered by the embedded module. These modules are frequently included with business intelligence software and solutions. During the forecast period, there are expected to be numerous growth opportunities for the embedded module segment. Companies frequently prefer embedded modules because standalone software is so expensive. The standalone segment, however, is anticipated to expand at a significant CAGR from 2020 to 2027. The reason for this is that more businesses are converting to standalone software instead of embedded visualization modules.
By Enterprise Size Analysis,
The market is divided into three groups based on the size of the businesses: small, medium, and large. During the forecast period, the large enterprise segment is anticipated to lead the market. The market’s expansion is primarily driven by large businesses’ widespread adoption of visualization platforms. While the medium enterprise segment is anticipated to experience significant revenue growth during the forecast period, This is due to the growing focus on information visualization and visual analytics.
By Key player Analysis,
Major companies in the market are emphasizing expanding their geographical presence through collaboration and partnerships to strengthen their market position. To provide cutting-edge technology solutions like predictive analytics, artificial intelligence, and natural language processing (NLP), businesses are also buying startup companies and SMEs. They will be able to offer their customers more products and better tools and solutions thanks to this.
North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America are the five main geographic divisions of the market. They are further divided into nations.
According to the results based on our research methodology, North America is anticipated to hold the largest market share for data visualization during the course of the projection year. The North American market is expanding as a result of the substantial company presence and high penetration of visualization tools across a variety of industries.
The study report provides a thorough analysis of the “Data Visualization Market” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The market for Digital payments is divided into two categories: type and application. Players, stakeholders, and other participants in the global Data Visualization Market industry will be able to gain the upper hand by using the study as a valuable resource.
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