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Data Visualization Market Strategy And Remarkable Growth Rate Forecast Till 2027 – Owned

Cluzters Admin 0 Jul 28

The global data visualization market size stood at USD 8.85 billion in 2019 and is projected to reach USD 19.20 billion by 2027, exhibiting a CAGR of 10.2% during the forecast period.

“Increasing Adoption from Retail and E-commerce Industries will Augment Growth”

Data visualization helps to identify the inter-relation between multi-dimensional sets of data and provide practical features for interpreting them. Therefore, most of the small, medium and large enterprises are adopting these tools for scrutinizing the customer buying and other business operational patterns to forecast their future sale strategies accordingly. This acts as a significant factor in promoting data visualization market growth. Additionally, the increasing acceptance of such platforms for software advisory and predictive analysis is also set to aid in the expansion of the market in the forecast period.

On the contrary, the high cost of installing such tools may pose a significant drawback to the market in terms of revenue generation. This, coupled with the lack of centralized data security, may restrict the growth of the market.

Nevertheless, adoption of the Internet of Things (IoT) and artificial intelligence (AI) technologies are likely to result in a massive data pool for both unstructured and structured data, thereby creating better growth opportunities for the market in the coming years.

Considering the future opportunities associated with data and its representation, several companies are investing in enhancing their analytics and visualization capabilities with continuous investments in research and development. Additionally, companies are also focusing on acquiring visualization platform vendors to extend their portfolio and strengthen their analytics and business, intelligence division. For instance, in June 2019, Alphabet, Inc. announced that Google LLC is planning to acquire an analytics software company Looker Data Sciences, Inc., for an estimated USD 2.60 billion.

View Recent Press Release For More Information:- https://www.marketwatch.com/press-release/data-visualization-market-analysis-2020-top-companies-portfolio-future-outlook-latest-trends-revenue-growth-analysis-regional-forecast-till-2027-2020-07-27

Key Industry Developments of the Market Include:

April 2020- Tableau Software, LLC collaborated with the U.S. Census Bureau and launched Response Rate Map which uses Tableau Public. This platform will help to mobilize participation, enhance customer experience, and data transparency to the Census.

November 2019– Tableau Software, LLC expanded their strategic relationship with Amazon Web Services, Inc. (AWS) by announcing a new initiative “Modern Cloud Analytics (MCA)” which enables its customers to experience the flexibility of self-service analytics in cloud computing.

July 2019– Larsen & Toubro Infotech Ltd. (LTI) signed an agreement to acquire Lymbyc Solutions Pvt. Ltd. to strengthen LTI’s digital and analytics offerings and enhance their platform with deep learning, natural language processing (NLP), and visualization capabilities 

Fortune Business Insights™ lists out the names of all the providers. They are as follows:

  • Alteryx, Inc. (California, United States)
  • Visually, Inc. (California, United States)
  • Adaptive Insights (Subsidiary of Workday, Inc.) (California, United States)
  • SAP SE (Walldorf, Germany)
  • Dundas Data Visualization, Inc. (Toronto, Canada)
  • IBM Corporation (New York, United States)
  • Domo, Inc. (Utah, United States)
  • Microsoft Corporation (Washington, United States)
  • QlikTech International AB (Pennsylvania, United States)
  • Highsoft AS (Sogn, Norway)
  • Looker Data Sciences, Inc. (California, United States)
  • ChartBlocks Ltd. (New York, United States)
  • Tableau Software, LLC (California, United States)
  • Cluvio GmbH (Berlin, Germany)
  • Sisense, Inc. (New York, United States)
  • Other vendors

Segment:-

“Retail and E-commerce Segment to Enjoy Dominance on Account of Increasing Data Generation”

In 2019, the retail & e-commerce segment earned a 9.6% data visualization market share owing to the increasing demand for such tools to suffice to the growing data generated in these respective sectors. These tools aid in capturing key patterns, trends, and insights that will be helpful to plan future strategies for better revenue generation.

Regional Analysis:

“North America to Dominate Accountable to Strong Presence of Key Players”

Geographically, the global market for data visualization is dominated by North America on account of the increasing penetration of these tools in most of the industries in the region. In 2019, this region generated USD 3.84 billion.  A rise in the expenditure on business intelligence and analytics is adding a boost to the regional market. Furthermore, the presence of significant players in this region is likely to help it continue dominating the market in the coming years.

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Market Segmentation:

By Component

By Solution

  • Standalone Visualization Software
  • Embedded Data Visualization Module

By Enterprise Size

  • Small Enterprises
  • Medium Enterprises
  • Large Enterprises

By Industry

  • BFSI
  • Construction and Real Estate
  • Consumer Goods
  • Education
  • Government
  • Healthcare and Pharmaceuticals
  • Information Technology, Services, and Telecommunications
  • Research
  • Retail and E-commerce
  • Transportation and Logistics
  • Others (Veterinary, Environmental Services, Non-Profit Organization Management, and others.)

By Region

  • North America (the United States and Canada)
  • Europe (Germany, the U.K., France, Scandinavia, and the Rest of Europe)
  • Asia Pacific (China, Japan, India, South East Asia, and the Rest of Asia Pacific)
  • Middle East & Africa (GCC, South Africa, and the Rest of the Middle East & Africa)
  • Latin America (Brazil, Mexico and the Rest of Latin America)

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