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Data Visualization Tools Market Report Scope & Overview:

The Data Visualization Tools Market size was valued at USD 7.24 Billion in 2023 and is expected to reach USD 17.69 Billion by 2031 and grow at a CAGR of 11.8% over the forecast period 2024-2031.

Data visualization tools allow for the graphical depiction of data in the form of a bar graph, a line graph, and a variety of other traditional and current methods, making it simpler to make data-driven conclusions and choices for the benefit of any corporate organization. Advances in technology have enabled corporate companies to amass massive volumes of data, and traditional methods of data visualization may not be capable of representing the data in the most appropriate way. As a result, technical innovations such as the use of AR/VR in data visualization enable to show of data in a much more immersive way, allowing for optimal utilization of vast amounts of data.

Data Visualization Tools Market Revenue Analysis

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Data visualization uses the inherent human propensity to be drawn to different colors to highlight discrepancies and outliers. In the age of big data, data visualization technologies assist in filtering out less useful information and displaying only valuable information. Conventional Charts, tables, maps, infographics, and dashboards are examples of two-dimensional data visualization. Another technologically sophisticated method of representing data is 3-D data visualization. It represents data from three axes rather than two, which improves our understanding of the data.

There are several types of 3D data visualization software, each with its own set of capabilities and cost. Fusion Charts, a well-known JavaScript charting package, offers a wide range of 3D data visualization capabilities, including 3D bars, 3D pies, 3D donuts, and 3D funnel and pyramid graphs, among others. Plotty is another 3D visualization software product that offers a variety of interactive visualization approaches and is accessible in cloud or on-premise system configurations.

MARKET DYNAMICS:

KEY DRIVERS:

  • There is a growing desire for an interactive view of data in order to make faster business choices.

  • Augmented and Virtual Reality (AR/VR) advancements will allow businesses to engage with data in 3D formats.

RESTRAINTS:

  • Data format variation.

OPPORTUNITY:

  • Healthcare authorities are putting more emphasis on obtaining real-time patient data.

  • The creation of dynamic dashboards from underused data is becoming increasingly important.

  • Companies are becoming increasingly concerned about complying with data standards and protecting client data.

CHALLENGES:

  • a scarcity of competent professional workers.

  • Data governance is lacking.

IMPACT OF COVID-19:

The data visualization tools market has seen many developments in terms of technologies provided by industry participants. Manufacturing, retail, energy, and utilities have experienced a modest slowdown, but BFSI, government, healthcare, and life sciences have had little impact. Because of the COVID-19 epidemic, there has been a surge in the usage of line charts, bar charts, and choropleth maps in the news. Simple data visualizations have shown to be effective in presenting critical information about the coronavirus epidemic to the general population. While these phrases may not be recognizable to everyone, the visuals are. As a result of the present COVID-19 dilemma, businesses that succeed at dashboard creation consolidate analytics and decision-making processes and expand them exponentially across all linked channels.

MARKET ESTIMATION:

The market for data visualization tools is divided into four categories based on company function: marketing and sales, human resources, operations, and finance. During the projection period, the marketing and sales business function segment is estimated to account for the greatest market share. Data visualization tools enable sales managers to analyze sales performance against quarterly revenue objectives, the proportion of closed transactions, and the status of deal stages in the sales funnel. Data visualization technologies also aid in the development of marketing strategies.

The worldwide data visualization tools market has been divided into two segments based on deployment mode: on-premises and cloud. The cloud sector is expected to grow rapidly throughout the forecast period. The cloud segment's high CAGR might be attributed to the availability of easy implementation options as well as cheap capital and time requirements. As social distance and online purchase of goods have an influence on the industry, these elements are expected to drive increased usage of cloud-based data visualization technologies, complementing the current COVID-19 lockup scenario. On-premises-based data visualization solutions are more popular owing to highly secure data encryption, comprehensive data visibility, and better control over data in terms of location and real-time availability of data for extracting insights.

Verticals in the data visualization tools market include BFSI, government, healthcare and life sciences, retail and eCommerce, manufacturing, telecommunications and IT, transportation and logistics, and others. During the projection period, the BFSI sector is estimated to account for the biggest market share. Furthermore, during the projection period, the healthcare and life sciences sector is predicted to develop at the fastest CAGR. Gaining access to unstructured data, such as output from medical equipment, picture reports, and lab tests, is not beneficial to patient health. Healthcare practitioners are implementing data visualization technologies to collect real-time data insights and enhance patient health.

KEY MARKET SEGMENTS:

On The Basis of Tool

  • Standalone

  • Integrated

On The Basis of organization size

  • Large Enterprises

  • Small and Medium-sized Enterprises

On The Basis of deployment mode

  • On-premises

  • Cloud

On The Basis of business function

  • Marketing and Sales

  • Human Resources

  • Operations

  • Finance

On The Basis of vertical

  • BFSI

  • Government

  • Healthcare and Life Sciences

  • Retail and eCommerce

  • Manufacturing

  • Transportation and Logistics

  • Telecommunications and IT

  • Other Verticals

REGIONAL ANALYSIS:

North America is predicted to have a considerable share because to 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 US data visualization industry is seeing significant development. Data visualization applications in North America are being pushed by reasons such as big data expansion and the retail sector's demand for analytics. As North America is a significant market for technology-based solutions, there is a rising need to collect data from multiple sources and compile it into various data representations in order to make crucial business choices.

Data Visualization Tools Market By Region

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REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major key players are SAP, Microsoft, Oracle, IBM, AWS, Sisense, Alteryx, SAS Institute, Alibaba Cloud, Dundas and Other Players

Alibaba Cloud -Company Financial Analysis

Company Landscape Analysis

Data Visualization Tools Market Report Scope:
Report Attributes Details
 Market Size in 2023  US$ 7.24 Bn
 Market Size by 2031  US$ 17.69 Bn
 CAGR   CAGR of 11.8% From 2024 to 2031
 Base Year  2023
 Forecast Period  2024-2031
 Historical Data  2020-2022
 Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
 Key Segments • By Tool (Standalone, Integrated)
• By organization size (Large Enterprises and Small and Medium-sized Enterprises)
• By deployment mode (On-premises and Cloud)
• By business function (Marketing and Sales, Human Resources, Operations, and Finance)
• By vertical (BFSI, Government, Healthcare and Life Sciences, Retail and eCommerce, Manufacturing, Transportation and Logistics, Telecommunications and IT, Other Verticals)
 Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
 Company Profiles SAP, Microsoft, Oracle, IBM, AWS, Sisense, Alteryx, SAS Institute, Alibaba Cloud, and Dundas.
 Key Drivers • There is a growing desire for an interactive view of data in order to make faster business choices
• AR and VR advancements will allow businesses to engage with data in 3D formats
 Market Opportunity • Healthcare authorities are putting more emphasis on obtaining real-time patient data
• The creation of dynamic dashboards from underused data is becoming increasingly important

 

Frequently Asked Questions

Ans: - The Data Visualization Tools Market size was valued at USD 6.99 Bn in 2022.

 Ans: - Data governance is lacking and a scarcity of competent professional workers.

Ans: - The segments covered in the Data Visualization Tools Market report for study are on the Basis of Tool, organization size, deployment mode, business function, and vertical.

Ans: - North America is predicted to have a considerable share.

 Ans: - The major key players are SAP, Microsoft, Oracle, IBM, AWS, Sisense, Alteryx, SAS Institute, Alibaba Cloud, and Dundas.  

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

8. Data Visualization Tools Market Segmentation, by Tool

8.1 Standalone

8.2 Integrated

9. Data Visualization Tools Market Segmentation, by organization size

9.1 Large Enterprises

9.2 Small and Medium-sized Enterprises

10. Data Visualization Tools Market Segmentation, by deployment mode

10.1 On-premises

10.2 Cloud

11. Data Visualization Tools Market Segmentation, by business function

11.1 Marketing and Sales

11.2 Human Resources

11.3 Operations

11.4 Finance

12. Data Visualization Tools Market Segmentation, by vertical

12.1 BFSI

12.2 Government

12.3 Healthcare and Life Sciences

12.4 Retail and eCommerce

12.5 Manufacturing

12.6 Transportation and Logistics

12.7 Telecommunications and IT

12.8 Other Verticals

13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2 Canada

13.2.3 Mexico

13.3 Europe

13.3.1 Germany

13.3.2 UK

13.3.3 France

13.3.4 Italy

13.3.5 Spain

13.3.6 The Netherlands

13.3.7 Rest of Europe

13.4 Asia-Pacific

13.4.1 Japan

13.4.2 South Korea

13.4.3 China

13.4.4 India

13.4.5 Australia

13.4.6 Rest of Asia-Pacific

13.5 The Middle East & Africa

13.5.1 Israel

13.5.2 UAE

13.5.3 South Africa

13.5.4 Rest

13.6 Latin America

13.6.1 Brazil

13.6.2 Argentina

13.6.3 Rest of Latin America

14. Company Profiles

14.1 SAP

14.1.1 Financial

14.1.2 Products/ Services Offered

14.1.3 SWOT Analysis

14.1.4 The SNS view

14.2 Microsoft

14.3 Oracle

14.4 IBM

14.5 AWS

14.6 Sisense

14.7 Alteryx

14.8 SAS Institute

14.9 Alibaba Cloud

14.10 Dundas

15. Competitive Landscape

15.1 Competitive Benchmarking

15.2 Market Share Analysis

15.3 Recent Developments

16. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

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