Enjoy complimentary customisation on priority with our Enterprise License!
The data visualization tools market size is projected to increase by USD 6.40 billion, at a CAGR of 10.07% between 2023 and 2028. The growth rate of the market depends on several factors, including rising demand for business intelligence, increasing digitization trends, and rising digital data production and data explosion and democratization. These tools are software applications that help users convert complex data sets into understandable visual representations such as charts, graphs, and maps. These tools allow users to analyze and interpret data more effectively, identify patterns, trends, and outliers, and communicate insights to facilitate data-driven decision-making. By providing interactive and dynamic visualizations, these tools enhance data exploration, discovery, and presentation, enabling users to extract meaningful insights and communicate complex information in a visually appealing and intuitive manner.
For More Highlights About this Report, Download Free Sample in a Minute
Rising demand for business intelligence is notably driving market growth. BI refers to the processes, technologies, and tools used to transform raw data into meaningful insights for decision-making and strategic planning within an organization. Data play a crucial role in modern-day business operations, and companies are increasingly realizing the importance of leveraging these data to gain a competitive advantage. Further, such tools cater to different user segments, including executives, analysts, and business users, by providing customized and interactive dashboards and reports. This empowers users across the organization to access and analyze data independently, reducing dependency on IT or data teams.
Moreover, as organizations recognize the value and potential of data-driven decision-making, the need for visually appealing and user-friendly tools to analyze and present data in compelling ways continues to increase, which, in turn, will drive the growth of the global market during the forecast period.
AI-powered insights and automation is an emerging trend shaping the market growth. With the proliferation of big data and the increasing need for more sophisticated data analysis, organizations are turning to AI technologies to enhance their capabilities. AI-powered insights refer to the ability of these tools to automatically analyze large datasets and generate meaningful insights without requiring extensive manual intervention. Further, the adoption of AI-powered insights and automation has several advantages. It allows organizations to gain deeper insights from their data, leading to better decision-making and improved business outcomes.
Furthermore, automation reduces the manual effort required for creating visualizations, freeing up time for data professionals to focus on more complex analysis tasks. Finally, the intelligent recommendations provided by AI-powered tools enhance usability and enable even non-technical users to explore and understand data more effectively. As organizations increasingly recognize the value of data-driven decision-making, the demand for AI-enabled tools that simplify and enhance the process is expected to grow, which, in turn, will drive the growth of the market during the forecast period.
Data complexity and huge data volume are significant challenges hindering market growth. In the global market, two major challenges that organizations face are data complexity and the handling of massive data volumes. As the amount of data generated continues to explode, businesses require efficient tools to interpret and present this information visually in a way that is meaningful and actionable. Further, processing and visualizing huge data volumes require powerful computing resources and advanced data management techniques. Organizations must invest in scalable and high-performance solutions to handle these enormous datasets efficiently.
Furthermore, as data continue to accumulate at an exponential rate, ensuring real-time or near-real-time visualizations becomes crucial for agile decision-making. Thus, data complexity and the management of massive data volumes are significant challenges faced by the global market during the forecast period.
The market share growth by the large enterprises segment will be significant during the forecast period. The large enterprise segment in the market is a crucial and thriving sector. Large enterprises are defined as organizations with extensive operations, significant market presence, and a substantial workforce. These enterprises require efficient tools to analyze and interpret large volumes of complex data for decision-making purposes.
Get a glance at the market contribution of various segments Download the PDF Sample
The large enterprises segment was the largest and was valued at USD 4.33 billion in 2018. With advancements in technology such as artificial intelligence and machine learning, such tools are becoming more sophisticated. These tools can now handle complex data sets, provide interactive visualizations, and offer predictive analytics capabilities, further enhancing their value for large enterprises. These tools empower large enterprises to gain insights from their data, make informed decisions, optimize operations, and stay competitive, which, in turn, will drive the growth of the large enterprises segment in the global market during the forecast period.
The global market has witnessed significant growth in recent years as organizations across various industries recognize the importance of analyzing and visualizing their data to gain valuable insights and make informed business decisions. This segment plays a crucial role in this market. On-premises deployment refers to the deployment within an organization's own physical infrastructure or dedicated data centers. In this model, organizations have complete control over their data and can ensure data security, privacy, and compliance with data governance policies. Additionally, on-premises deployment may limit access to data from remote locations or mobile devices, which can affect collaboration and real-time decision-making for distributed teams. Thus, the growth of the on-premises deployment segment in the global market will be driven by enhanced data control, security, customizability, and scalability during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. These tools are essential for businesses and organizations to analyze and present data effectively, leading to better decision-making and improved performance. North America, being a technology hub and home to several major industries and enterprises, presents a robust market. One of the key drivers of market growth in North America is the increasing adoption of data-driven decision-making strategies across various sectors. Businesses are realizing the importance in understanding complex datasets and extracting meaningful insights. This market trend and analysis is further supported by the growing availability of big data and analytics solutions, driving the demand for advanced tools.
Furthermore, the region is witnessing a surge in the use of cloud-based tools. These solutions offer scalability, flexibility, and ease of access, making them highly preferred among enterprises of all sizes. Cloud-based tools eliminate the need for extensive infrastructure investments and reduce maintenance costs, contributing to their growing popularity in North America during the forecast period.
The Market forecasts include the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alibaba Group Holding Ltd. - The company offers data visualization tools such as DataV which is a powerful and accessible data visualization tool through Alibaba Cloud.
Alteryx Inc. - The company provides data storage, retrieval, management, reporting, and analytics solutions.
Amazon.com Inc. - The company offers data visualization tools such as Business Analytics and Data Visualization chart with Key Performance Indicators (KPI), Relationships, Comparisons, Distributions, and Compositions, under its subsidiary Amazon Web Services, Inc.
The Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Market caters to analytically driven businesses, aiding in demystifying complex information from big databases in a visually appealing manner. This facilitates well-informed strategic decisions through immersive experiences and real-time visualization of trends. With features like natural language processing and conversational interfaces, these tools enhance consumer interaction, widening their audience reach through voice-enabled gadgets and virtual assistants. Amidst crises like supply chain disruptions and shifts in customer behavior, these tools enable improved crisis management and inventory management. The market witnesses growth driven by technological advancements, with startups offering innovative solutions and a diverse range of services, including integration, customization, training, and support.
The market research report forecasts market growth analysis by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028
Data Visualization Tools Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Market forecasting period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.07% |
Market Growth 2024-2028 |
USD 6.40 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.59 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alibaba Group Holding Ltd., Alteryx Inc., Amazon.com Inc., Cluvio GmbH, Databox Inc., Domo Inc., GoodData Corp., GS Topco GP LLC, International Business Machines Corp., Klipfolio Inc., Live Earth LLC, Microsoft Corp., Oracle Corp., QlikTech international AB, Salesforce Inc., SAP SE, SAS Institute Inc., Schneider Electric SE, Sisense Ltd., and TIBCO Software Inc. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.