DUBLIN, May 24, 2021 /PRNewswire/ — The “Global Data Visualization Tools Market by Tool (Standalone, Integrated), Organization Size, Deployment Mode, Business Function, Vertical (BFSI, Telecommunications & IT, Healthcare & Life Sciences, Government), and Region – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global data visualization tools market is projected to grow from USD 5.9 billion in 2021 to USD 10.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.6% during the forecast period. Various factors such as the growing demand for an interactive view of data for faster business decisions and increasing developments in Augmented Reality (AR) and Virtual Reality (VR) to enable the interaction of companies with data in 3D formats, are expected to drive the demand for data visualization tools.
The data visualization tools market has witnessed several advancements in terms of tools offered by the industry players. Verticals such as manufacturing, retail, and energy and utilities have witnessed a moderate slowdown, whereas BFSI, government, and healthcare and life sciences verticals have witnessed a minimal impact.
The COVID-19 pandemic has given rise to increased use of line charts, bar charts, and choropleth maps in the news. Simple data visualizations have become the key to communicating vital information about the coronavirus pandemic to the public. While these terms might not be familiar to all, the visualizations themselves certainly are. One of the most interesting developments due to the current COVID-19 crisis is that organizations that excel at the developments of dashboards centralize analytics and decision-making approaches and scale them exponentially across all connected channels.
The data visualization tools market, by tools, is segmented into standalone and integrated. The standalone segment is expected to have at the larger market size during the forecast period. Standalone tools help businesses identify factors that affect customer behavior, pinpoint areas that need to be improved or need more attention, make data more memorable for stakeholders, understand when and where to place specific products, and predict sales volumes.
The SMEs segment is expected to grow at the highest CAGR during the forecast period. This growth is attributed due to the growing need of SMEs to store data of the growing target audience across the globe and extract greater value from the data are expected to drive the adoption of data visualization tools among SMEs. SMEs are more open toward the adoption of new technologies to smoothen and enhance business processes.
The cloud deployment mode segment is expected to grow at the highest CAGR during the forecast period. This growth is attributed due to easy deployment and minimal capital requirement benefit of cloud technology facilitate the adoption of the cloud deployment model. The adoption of cloud technology solutions is expected to be supported by the COVID-19 pandemic, as lockdowns and social distancing practices are encouraging companies to move to cloud solutions that can be managed remotely.
The marketing and sales business function segment is expected to account for the largest market size during forecast period. The growth can be attributed as data visualization tools enable sales managers to monitor sales performance against quarterly goals for revenue, the percentage of closed deals, and status of the deal stages in the sales funnel. Data visualization tools also help them in planning marketing strategies.
The BFSI vertical is expected to account for the largest market size during the forecast period. Moreover, the healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. To gain access to unstructured data such as output from medical devices, image reports, and lab reports is not useful to improve patient health. Healthcare providers are adopting data visualization tools that help them to gather real-time data insights to improve patient health.
North America is expected to account for the largest market size during the forecast period. The region is witnessing significant technological advancements in the data visualization tools space due to the presence of prominent data visualization tools vendors. The growth of the region can also be attributed to the growing focus of companies on investments for cloud-based data visualization tools which support real-time data. APAC is projected to grow at the highest CAGR during the forecast period. The growth can be attributed to increased take-up of digital technologies among consumers as well as businesses in key countries, such as China, India, and Japan.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Data Visualization Tools Market
4.2 Market, Top Three Business Functions
4.3 Market, by Region
4.4 North American Market, by Component and Deployment Mode
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Data Visualization: Evolution of the Market
5.3 Data Visualization: Types
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Growing Demand for an Interactive View of Data for Faster Business Decisions
5.4.1.2 Developments in AR and VR to Enable the Interaction of Companies with Data in 3D Formats
5.4.2 Restraints
5.4.2.1 Variation in Data Formats
5.4.3 Opportunities
5.4.3.1 Increasing Focus of Healthcare Authorities to Get Real-Time Patient Data During COVID-19 to Track Infections
5.4.3.2 Rising Need to Create Interactive Dashboards from Unused Data
5.4.3.3 Growing Concern of Companies to Comply with Data Regulations and Protect Customer Data
5.4.4 Challenges
5.4.4.1 Lack of Skilled Professional Workforce
5.4.4.2 Lack of Data Governance
5.4.5 Cumulative Growth Analysis
5.5 Data Visualization Tools Market: Ecosystem
5.6 Case Study Analysis
5.7 Data Visualization Tools Market: COVID-19 Impact
5.8 Patent Analysis
5.9 Supply Chain Analysis
5.10 Technology Analysis
5.11 Pricing Model Analysis
5.12 Porter’s Five Forces Analysis
5.13 Scenario
6 Data Visualization Tools Market, by Tool
6.1 Introduction
6.1.1 Tools: Market Drivers
6.1.2 Tools: COVID-19 Impact
6.2 Standalone
6.3 Integrated
7 Data Visualization Tools Market, by Organization Size
7.1 Introduction
7.1.1 Organization Size: Market Drivers
7.1.2 Organization Size: COVID-19 Impact
7.2 Large Enterprises
7.3 Small and Medium-Sized Enterprises
8 Data Visualization Tools Market, by Deployment Mode
8.1 Introduction
8.1.1 Deployment Modes: Market Drivers
8.1.2 Deployment Modes: COVID-19 Impact
8.2 On-Premises
8.3 Cloud
9 Data Visualization Tools Market, by Business Function
9.1 Introduction
9.1.1 Business Functions: Market Drivers
9.1.2 Business Functions: COVID-19 Impact
9.2 Marketing and Sales
9.3 Human Resources
9.4 Operations
9.5 Finance
10 Data Visualization Tools Market, by Vertical
10.1 Introduction
10.1.1 Verticals: Market Drivers
10.1.2 Verticals: COVID-19 Impact
10.2 Banking, Financial Services, and Insurance
10.3 Government
10.4 Healthcare and Life Sciences
10.5 Retail and Ecommerce
10.6 Manufacturing
10.7 Telecommunications and Information Technology
10.8 Transportation and Logistics
10.9 Other Verticals
11 Data Visualization Tools Market, by Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East and Africa
11.6 Latin America
12 Competitive Landscape
12.1 Overview
12.2 Key Player Strategies
12.3 Market Share, 2020
12.4 Historical Revenue Analysis of Key Market Players
12.5 Company Evaluation Quadrant, 2020
12.5.1 Star
12.5.2 Emerging Leaders
12.5.3 Pervasive
12.5.4 Participants
12.6 Strength of Product Portfolio
12.7 Business Strategy Excellence
12.8 Ranking of Key Market Players in the Market, 2020
12.9 Company (Major Players) Product Footprint Analysis
12.10 Startup/SME Evaluation Quadrant, 2020
12.10.1 Progressive Companies
12.10.2 Responsive Companies
12.10.3 Dynamic Companies
12.10.4 Starting Blocks
12.11 Strength of Product Portfolio
12.12 Business Strategy Excellence
12.13 Company (Startups/SMEs) Product Footprint Analysis
12.14 Competitive Scenario
12.14.1 New Solution Launches and Product Enhancements
12.14.2 Deals
12.14.3 Others
13 Company Profiles
13.1 Introduction
13.2 Major Players
13.2.1 Salesforce
13.2.2 SAP
13.2.3 Microsoft
13.2.4 Oracle
13.2.5 IBM
13.2.6 AWS
13.2.7 Alteryx
13.2.8 Alibaba Cloud
13.2.9 SAS Institute
13.2.10 Dundas
13.3 Other Players
13.3.1 Sisense
13.3.2 TIBCO Software
13.3.3 Qlik
13.3.4 Domo
13.3.5 GoodData
13.3.6 Klipfolio
13.4 Startup/SME Profiles
13.4.1 Datafay
13.4.2 Zegami
13.4.3 Live Earth
13.4.4 REEPORT
13.4.5 Cluvio
13.4.6 Whatagraph
13.4.7 Databox
13.4.8 Datapine
13.4.9 Chord
13.4.10 Toucan Toco
14 Adjacent and Related Markets
15 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/9o3trc
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