The Global Data Visualization Market expected to grow at an impressive CAGR of 8.24% over the forecast period and the market size is expected to reach US$13.227 billion in 2024
Knowledge Sourcing Intelligence announces the publication of a new report on “Global Data Visualization Market – Forecasts from 2019 to 2024" to their offering.
As completely digital era continues to set in, and flow of digital information across business functions in an enterprise continues to increase, the use of data visualization tools by enterprises of all sizes can be seen growing at an impressive pace. The use of these tools is not confined to enterprises as various institutions and other end users are also contributing significantly to the growing sales of such solutions.
According to the report, the Global Data Visualization Market is projected to grow at a solid CAGR of 8.24% over the period 2018-2024. The market growth for these solutions is majorly attributed to growing competition across industries, which is pushing enterprises towards adopting strategies which can keep them ahead of their rivals. Since getting a clear visibility of every key aspect of the landscape is instrumental in designing better growth strategies, high adoption of data visualization tools can be seen among enterprises. Availability of a large number of players in this market and high investments by them into innovation has been bringing into the market solutions which cater to the diverse needs of end users. Since tailored solutions for different business needs are available at affordable prices, even small enterprises, institutions and individuals with limited budgets are showing a significantly high adoption of these tools, thus contributing to the growth of the market. Furthermore, growing popularity of data monetization among enterprises is adding to the growing demand for data visualization tools. As companies continue to monetize huge volumes of data generated by their digitized business functions, use of data visualization tools has been increasing among them. Growing number of data brokers worldwide, which collect huge volumes of information from various sources, refine, analyze and license it to their customers, has also been contributing to the growth of this market. Geographically, North America, Europe and Asia Pacific hold the major chunk of the market size. Flourishing industries in Europe and North America, and rapid growth of industries in Asia Pacific is boosting the revenue generation by data visualization solution vendors in these regions.
By deployment model, cloud deployment holds a significantly large share in this market on account of high cost-efficiency offered by this model. Retail, media and entertainment BFSI, communication and technology and consulting are some of the major end-user industries for vendors in this market. Although other industry verticals have also been showing considerably high adoption of data visualization solutions, these industries continue to hold a major share in the demand for these tools. As mergers, acquisitions and collaborative partnerships across this landscape continue to increase, better data visualization solutions, as result of synergies, are expected to continue entering the market over the projected period, thus driving the growth of the market.
Some of the major players covered as part of the report are IBM, Sisense Inc., TIBCO Software Inc., TABLEAU SOFTWARE, Datawrapper GmbH, Microsoft, Infogram, Plotly, Zoho Corporation Pvt. Ltd., and QlikTech among others.
View a sample of the report or purchase complete study at https://www.knowledge-sourcing.com/report/data-visualization-market
This report segmented the data visualization market on the basis of the following:
By Deployment Model
By End-User Industry
- Media and Entertainment
- Communication and Technology
- North America
- United Kingdom
Middle East and Africa
- Saudi Arabia
- South Korea
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