SAN FRANCISCO, June 13, 2023 /PRNewswire/ — The global data visualization tools market size is expected to reach USD 22.12 billion by 2030, expanding at a CAGR of 11.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. In today’s business environment, organizations increasingly rely on data-driven decision-making, which has led to a growing need for data visualization tools to help users quickly and easily understand complex data sets. The amount of data generated by organizations has grown exponentially in recent years, and this trend is expected to continue. Data visualization tools are essential for making sense of this data and identifying patterns and insights. Further, as the importance of data-driven decision-making continues to grow, more organizations recognize the value of investing in data visualization tools which will help businesses gain a competitive advantage by leveraging their data assets to drive business value.
Key Industry Insights & Findings from the report:
- The software segment accounted for over 64% share of the global revenue in 2022, owing to the growing need for tools that can assist businesses in analyzing and understanding data.
- The marketing and sales segment held the largest revenue share of over 35% in 2022. Data visualization tools are increasingly being used by marketing and sales departments to gain insights into customer behavior, preferences, and trends to make research-based decisions and create more targeted and effective campaigns.
- The large enterprises segment held the largest market in 2022, accounting for over 69% share of the global revenue. Data visualization tools help large enterprises decipher Big Data to make better-informed decisions.
- The on-premises segment held the largest revenue share of over 59% in 2022. However, cloud-based data visualization tools are gaining popularity due to easier deployment and it does not require the installation of any software or hardware on the user’s device.
- The IT and telecommunication segment held the largest revenue share of over 21% in 2022. Data visualization tools supporting predictive analytics provide the IT and telecommunications industry with insights providing companies with a competitive advantage.
Read full market research report, “Data Visualization Tools Market Size, Share & Trends Analysis Report By Component (Software, Service), By Application, By Organization Size, By Deployment, By End-users, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Data Visualization Tools Market Growth & Trends
The rise of self-service analytics is a significant feature shaping the data visualization tools market. Self-service analytics refers to the ability of non-technical users to access and analyze data without the need for IT or data science expertise. This trend has emerged in response to the increasing availability of data and the growing demand for data-informed decision-making across all industries. Traditional data analysis requires a high level of technical expertise, with data scientists or IT professionals often responsible for analyzing and interpreting data. However, the rise of self-service analytics tools has made it easier for non-technical users to access and analyze data themselves without relying on IT or data scientists. Self-service analytics tools typically have intuitive interfaces and easy-to-use features that allow users to create interactive dashboards, perform ad-hoc analyses, and visualize data without needing extensive technical knowledge, enabling business users to make data-informed decisions on their own without waiting for IT or data scientists to provide insights.
Effective data visualization should communicate clearly with the target audience, considering the audience’s expertise and making the visualization easy to view and understand. One of the key factors to consider when designing a data visualization is the audience’s familiarity with the basic principles being presented. If the audience is unfamiliar with the data or the principles being presented, the visualization should be designed to be easily understandable, with clear labels, simple language, and a logical flow. On the other hand, if the audience is more experienced or has a background in STEM fields, the visualization can be more complex, with more advanced charts and graphs. Another important consideration while creating a data visualization tool is the type of data being presented, as different types of data require different types of visualizations.
Data Visualization Tools Market Segmentation
Grand View Research has segmented the global data visualization tools market based on component, application, organization size, deployment, end-users, and region:
Data Visualization Tools Market – Component Outlook (Revenue, USD Billion, 2017 – 2030)
- Software
- Standalone
- Integrated
- Service
- Consulting Services
- Support Services
Data Visualization Tools Market – Application Outlook (Revenue, USD Billion, 2017 – 2030)
- Human Resources
- Operations
- Finance
- Marketing & Sales
Data Visualization Tools Market – Organization Size Outlook (Revenue, USD Billion, 2017-2030)
- Large Enterprises
- SMEs
Data Visualization Tools Market – Deployment Outlook (Revenue, USD Billion, 2017 – 2030)
- Cloud
- On-premises
Data Visualization Tools Market – End-users Outlook (Revenue, USD Billion, 2017 – 2030)
- BFSI
- IT and Telecommunication
- Manufacturing
- Healthcare & Life Sciences
- Retail and E-commerce
- Government
- Transportation & logistics
- Others
Data Visualization Tools Market – Regional Outlook (Revenue, USD Billion, 2017 – 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Middle East and Africa (MEA)
- Kingdom of Saudi Arabia (KSA)
- UAE
- South Africa
List of Key Players of Data Visualization Tools Market
- Salesforce, Inc.
- Alibaba Cloud
- Oracle
- Amazon Web Services, Inc.
- SAS Institute Inc.
- Sisense Inc.
- Microsoft Corporation
- TIBCO software
- IBM
- SAP
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Browse through Grand View Research’s Next Generation Technologies Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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