USD 10.34 Billion
Data Visualization Tools Market Size, Share, Growth Analysis, By Type(Standalone Visualization Tools and Embedded Visualization Tools), By Deployment(On-Premises and Cloud-based), By Industry Vertical(Banking, Financial Services, and Insurance (BFSI), Healthcare and Life Sciences), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2055 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|Tables:
90
|Figures:
76
Data Visualization Tools Market Insights
Global Data Visualization Tools Market size was valued at USD 10.34 Billion in 2022 and is poised to grow from USD 11.53 Billion in 2023 to USD 27.54 Billion by 2031, at a CAGR of 11.5% during the forecast period (2024-2031).
The global market for data visualization tools is witnessing significant growth in today's business landscape due to the increasing reliance on data-driven decision-making by organizations. This has created a rising demand for tools that can help users comprehend complex data sets quickly and effortlessly. The volume of data generated by organizations has experienced exponential growth in recent years, and this trend is projected to persist. Consequently, data visualization tools play a crucial role in deciphering this data and uncovering patterns and insights. As the significance of data-driven decision-making continues to escalate, more and more organizations are recognizing the value of investing in data visualization tools to gain a competitive edge by leveraging their data assets to drive business value. A prominent characteristic shaping the data visualization tools market is the emergence of self-service analytics. This concept refers to the ability of non-technical users to access and analyze data without requiring expertise in IT or data science. The proliferation of data and the increasing demand for data-informed decision-making across industries have spurred this trend.
The market is witnessing the emergence of innovative technologies such as augmented reality (AR) and virtual reality (VR) data visualization tools. These immersive and interactive tools provide users with a unique and engaging experience, allowing them to explore data in three-dimensional spaces. Key players in the market are focusing on research and development activities to enhance their product offerings and cater to evolving customer needs. Additionally, partnerships, collaborations, and acquisitions are prominent strategies employed by market players to expand their market presence and gain a competitive edge.
US Data Visualization Tools Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Standalone Visualization Tools
Fastest Growth
Standalone Visualization Tools
Growth Rate
11.5% CAGR
Global Data Visualization Tools Market ($ Bn)
Country Share for North America Region (%)
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Data Visualization Tools Market Segmental Analysis
Global Data Visualization Tools Market is segmented by type, deployment, and region. Based on type, the market can be segmented into Standalone visualization tools, and Embedded visualization tools. Based on deployment, the market is segmented into on-premises, and cloud-based. Based on industry vertical, the market is segmented into banking, financial services, and insurance (bfsi), healthcare and life sciences, retail and e-commerce, manufacturing and automotive, and government and public sector. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
By type, the market can be segmented into Standalone visualization tools, and Embedded visualization tools. Standalone Visualization Tools dominated the data visualization tools market. These tools have gained significant popularity due to their comprehensive functionalities and flexibility. Organizations across various industries are increasingly recognizing the importance of data-driven decision-making, and standalone visualization tools play a crucial role in transforming raw data into actionable insights.
Embedded visualization tools are integrated into other software applications or platforms, allowing users to visualize data within the context of those applications. These tools provide embedded analytics capabilities, enabling users to perform data analysis and visualization seamlessly within the same environment where they work or make decisions.
Analysis by Deployment
By deployment, the market can be segmented into on-premises and cloud-based. Cloud-based data visualization tools refer to software applications that are hosted and accessed through the cloud. These tools offer a range of features and functionalities to visualize data, providing users with the flexibility to access and analyze data from anywhere with an internet connection. Cloud-based tools are becoming the dominating segment in the data visualization tools market due to several advantages they offer.
On-premises data visualization tools are installed and operated on the customer's own infrastructure. These tools provide organizations with full control and ownership over their data and offer enhanced security measures. While the dominance of on-premises tools is diminishing due to the rise of cloud-based solutions, this segment still holds relevance in certain industries or organizations with specific data security or compliance requirements.
Global Data Visualization Tools Market By Type
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Data Visualization Tools Market Regional Insights
North America dominated the global market. The region's dominance can be attributed to several factors, including the presence of major technology companies, the high adoption rate of advanced analytics solutions, and the increasing emphasis on data-driven decision-making across industries. The United States, in particular, plays a significant role in driving the growth of the data visualization tools market in North America. The country's strong technological infrastructure, coupled with a large number of enterprises leveraging data analytics, contributes to the region's dominance. Additionally, the presence of well-established vendors and a highly skilled workforce further solidifies North America's position as the leading region in the data visualization tools market.
Asia Pacific is experiencing rapid growth and is considered the fastest growing region in the global data visualization tools market. The region's expanding market can be attributed to factors such as the increasing adoption of advanced technologies, growing digitization initiatives, and the rising demand for data analytics solutions across various industries. Countries like China, Japan, India, and South Korea are witnessing significant growth in data visualization tools adoption. The availability of a vast consumer base, coupled with the growing number of startups and SMEs, is driving the demand for data visualization tools in the region. Moreover, the rise of e-commerce, digital marketing, and the need for effective business intelligence solutions are contributing to the accelerated growth of the data visualization tools market in Asia Pacific. With increasing investments in technological infrastructure and the emergence of new players in the market, Asia Pacific is expected to continue its trajectory as the fastest growing region in the data visualization tools market.
Global Data Visualization Tools Market By Geography
- Largest
- Fastest
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Data Visualization Tools Market Dynamics
Drivers
Increasing need for data-driven decision-making in organizations
- One significant driver propelling the growth of the global data visualization tools market is the increasing need for data-driven decision-making in organizations. As businesses generate vast amounts of data, there is a growing demand for tools that can effectively visualize and interpret this information. Data visualization tools enable users to gain valuable insights, identify patterns, and make informed decisions based on data analysis. The emphasis on data-driven decision-making across industries is fueling the adoption of these tools, driving the growth of the global data visualization tools market.
Restraints
Challenge of data privacy and security
- One restraint that can impact the global data visualization tools market is the challenge of data privacy and security. As organizations collect and analyze large volumes of data, ensuring the protection of sensitive information becomes crucial. The increasing prevalence of data breaches and regulations surrounding data privacy, such as GDPR and CCPA, pose challenges for data visualization tool providers. Maintaining robust security measures and complying with stringent privacy regulations is essential to instill trust in users and overcome the restraint posed by data privacy and security concerns.
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Data Visualization Tools Market Competitive Landscape
The global data visualization tools market is characterized by a diverse range of vendors offering innovative solutions. These companies strive to differentiate themselves through features like advanced analytics capabilities, user-friendly interfaces, and cross-platform compatibility. Market players focus on continuous research and development to enhance their product offerings and gain a competitive edge. Additionally, strategic partnerships, collaborations, and acquisitions are common strategies employed by vendors to expand their market presence. The competitive landscape is dynamic, with emerging players challenging established vendors and fostering a climate of innovation in the data visualization tools market.
Top Player’s Company Profiles
- Tableau Software (US)
- Microsoft Corporation (US)
- QlikTech International AB (US)
- SAP SE (Germany)
- Oracle Corporation (US)
- Salesforce.com, Inc. (US)
- SAS Institute Inc. (US)
- Alteryx, Inc. (US)
- Sisense Inc. (US)
- Looker Data Sciences, Inc. (US)
- Domo, Inc. (US)
- Zoho Corporation (US)
- Information Builders, Inc. (US)
- Dundas Data Visualization, Inc. (Canada)
- Yellowfin International Pty Ltd (Australia)
- InetSoft Technology Corporation (US)
- Exago, Inc. (US)
Recent Developments
- In June 2023, Looker partnered with Google Cloud to expand its data visualization and analytics capabilities through Google Cloud's infrastructure and AI tools.
- In May 2023, Salesforce announced the launch of Salesforce Tableau CRM, a comprehensive analytics platform that integrates Tableau's data visualization capabilities with Salesforce's CRM functionality.
- In April 2023, Google Cloud announced the acquisition of Dataform, a data transformation and visualization platform, to strengthen its data analytics and visualization offerings.
- In February 2023, Tableau launched Tableau 2023.1, introducing new features like AI recommendations and advanced analytics for enhanced data visualization and analysis.
- In January 2023, DataRobot, an AI platform, secured $300 million in funding to further develop its data visualization and machine learning capabilities.
Data Visualization Tools Key Market Trends
- One key market trend in the global data visualization tools market is the growing adoption of augmented reality (AR) and virtual reality (VR) technologies. AR and VR are being integrated into data visualization tools to provide immersive and interactive experiences. These technologies enable users to explore data in three-dimensional environments, enhancing the understanding and analysis of complex data sets. AR and VR-based data visualization tools offer enhanced data exploration, storytelling, and decision-making capabilities. This trend is driven by the desire to provide more engaging and intuitive ways to visualize and interact with data, revolutionizing the data visualization landscape.
Data Visualization Tools Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global data visualization tools market analysis, the market is witnessing significant growth due to the increasing reliance on data-driven decision-making in organizations. With the exponential growth of data generated by businesses, the demand for tools that can effectively analyze and visualize this data is on the rise. The market is characterized by the dominance of North America, particularly the United States, while Asia Pacific emerges as the fastest-growing region. However, challenges such as data privacy and security need to be addressed. Furthermore, key market trends, including the integration of augmented reality and virtual reality, are shaping the future of data visualization tools, providing immersive and interactive experiences for users.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 10.34 Billion |
| Market size value in 2031 | USD 27.54 Billion |
| Growth Rate | 11.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Data Visualization Tools Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Data Visualization Tools Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Data Visualization Tools Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Data Visualization Tools Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Data Visualization Tools Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Data Visualization Tools Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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