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. 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.
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
Major Features of Data Visualization Platform Market Report:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Data Visualization Platform market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global Data Visualization Platform market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
“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.
Regional Analysis for Data Visualization Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for Data Visualization Market:
- Executive Summary
- Market Dynamics
- Key Data Visualization Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2027
- North America Market Analysis, Insights and Forecast, 2015-2027
- Europe Market Analysis, Insights and Forecast, 2015-2027
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2027
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2027
- Latin America Market Analysis, Insights and Forecast, 2015-2027
- Competitive Landscape
- Global Data Visualization Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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