Data visualization market is likely to optimistically hit huge growth potential, getting over USD 20.17 billion, continuing at a CAGR value of 11% during the proposed forecast period of 2021-2028. Quicker reaction to varying business environments are also enhancing the global data visualization tools market.
Dallas, Texas, Oct. 28, 2021 (GLOBE NEWSWIRE) — Data visualization has a wide variety of commercial applications. Data visualization is a term that is used in a variety of technologies and concepts, such as infographics, dashboards, scorecards, big data, analytics, and business intelligence. Data visualization aids in the extraction of useful reports from the various and continuously growing amounts of corporate data. Many users feel that using big data through data visualization aids in improved decision-making. The quantity of data created by different channels, such as blogs, social networks, and applications, is rapidly increasing in the retail industry. The majority of unstructured data created remains useless, despite the fact that it may give important information if utilized.
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Data visualization technologies provide a wide range of benefits to businesses, including increased sales, accurate data analysis, improved comprehension, better decision making, detection of numerous trends and patterns in a competitive market, and so on. Companies spend a lot of money collecting data in order to make the most use of it. For instance, banks can pay attention to how online consumers arrived at the applications page, which can help them figure out how to attract more customers. Using underutilized data may assist businesses in gaining useful insights and driving their business. Data visualization tools generate strategies for using all underutilized data. As a result, the growing demand for producing insights from underutilized data is projected to fuel the expansion of the data visualization market.
Leading players comprise of:
Dundas Data Visualization
Cloud computing is one of the major factors driving the expansion of the global data visualization market. Cloud computing has changed the way businesses scale, process, and manage large-scale applications, as well as get value from data. Enterprises are increasingly incorporating cloud services due to their availability, adaptability, high efficiency, and IT skills. Oracle introduced a data visualization cloud package in 2017 to assist companies in organizing data in an appealing manner that is easy to evaluate. The market trend toward producing visualization tools that give insights and add aesthetic appeal has risen, and the trend is likely to acquire market momentum with cloud capabilities.
Product types comprise of:
Applications comprise of:
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The use of devices such as sensors and RFID has boosted the inclusion of the Internet of Things (IoT) in the retail industry in recent years. Furthermore, retailers throughout the world have been focused on improving their communication solutions, connection, and gadgets, resulting in a massive amount of big data. This is further examined to understand a consumer's pattern and purchase behavior, which is likely to fuel market expansion during the forecast period.
The global data visualization market is segregated into various segments such as tool, deployment mode, organization size, business function, vertical, and geography. On considering the tool, this market is segregated into integrated and standalone. On considering the organization size, this industry is fragmented into large enterprises and SMEs. By deployment mode, the market is segregated into cloud and on-premises. By business function, the market is fragmented into finance, HR, operations, and marketing & sales. On considering the vertical, this industry is segmented into manufacturing, retail & eCommerce, government, healthcare & life sciences, BFSI, transportation, IT & telecommunication, and others.
In terms of regions, the North American market is projected to have a substantial share because of the presence of the United States, which is a key market for data visualization. Because of the rising amount of data created by small and medium-sized businesses, the data visualization industry in the United States is seeing robust development. Factors such as the need for analytics in the retail industry and the growth of big data are driving the need for data visualization solutions in North America.
Table of Contents:
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions, and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
2. Research Methodology
2.2. Data Capture Sources
2.3. Market Size Estimation
2.4. Market Forecast
2.5. Data Triangulation
2.6. Assumptions and Limitations
3. Market Outlook
3.2. Market Dynamics
3.3. Porter’s Five Forces Analysis
3.4. PEST Analysis
4. Global Data Visualization Market by Organization Department, 2018-2028 (USD Billion)
4.1. Executive Management
5. Global Data Visualization Market by Deployment Mode, 2018-2028 (USD Billion)
6. Global Data Visualization Market by End User, 2018-2028 (USD Billion)
6.2. IT and Telecommunication
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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