Data Visualization Market Global Size Overview, COVID19 Impact, Growth Drivers, Industry Share and Forecast to 2027
Data Visualization Market to Exhibit 10.2% CAGR by 2026; Increasing Adoption by Small, Medium, and Large Enterprises to Bolster Growth, says Fortune Business Insights
Pune, India -- (SBWire) -- 10/16/2020 --Fortune Business Insights offers a detailed overview of the global market in a report, titled The global data visualization market size is projected to showcase significant growth on account of the increasing inclination towards visual analytics, scientific visualization, and information visualization by various small and large enterprises. Data visualization is the presentation of information or data in a graphical format and the tools used here help to layout the data in an accessible way and for better understanding statistics, graphs, and outliners. A recently published report by Fortune Business Insights, titled, "Data Visualization Market Size, Share and Industry Analysis, By Component (Software, Services), By Solution (Standalone Visualization Software, Embedded Data Visualization Module), By Enterprise Size (Small Enterprises, Medium Enterprises, and 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, and Others) and Geography Forecast, 2020 – 2027," states the value of the market stood at USD 8.85 billion in 2019 and is likely to rise at a CAGR of 10.2%, thereby reaching USD 19.20 billion by the end of 2027.
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Comprehensive analysis of the Medical Lighting Technologies Market growth drivers, obstacles, opportunities, and other related challenges.
Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
Identifies data visualization market restraints and boosters.
Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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List of Key Players for Data Visualization Market
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)
The Data Visualization Market current pandemic of COVID-19 has not only affected personal lives but also has had a devastating effect on all businesses worldwide. The governments of every nation are engaging in various strategies to improve the situation, and we hope to overcome this situation soon. We, at Fortune Business Insights, are offering analytical reports on multiple markets affected by this pandemic for business management teams and financers to get a clear understanding of the pros and cons of investments on the same. These reports offer insights into various markets and the steps that can be adopted to improve their revenue generation in the coming years.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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KEY QUESTIONS ANSWERED:
What is the data visualization market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the Medical Lighting Technologies Market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest data visualization market share?
Drivers & Restraints-
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 the 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.
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North America to Dominate Accountable to Strong Presence of Key Players
Geographically, the global Data Visualization 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.
Key Industry Developments of the Market Include:
February 2019 – DataRobot Inc. and QlikTech International AB entered into a strategic partnership for the integration of automated machine-learning modelling directly into their platform. This will help the users to get access to predictive data and accordingly take decision-making steps.
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