Data Visualization Tools Market expected to grow at a CAGR of 11.6 percent reaching USD 15.80 Billion by 2030

Data Visualization Tools demand is expected to grow at a compound annual growth rate of 11.6 percent until FY30. The demand for data visualization tools is surging across key sectors including finance, healthcare, and retail, with notable interest from global financial centers such as New York, London, and Singapore- Says Maximize Market Research

PUNE, India, Aug. 28, 2024 /PRNewswire/ -- The demand for data visualization tools is surging across key sectors including finance, healthcare, and retail, with notable interest from global financial centers such as New York, London, and Singapore. Leading tools like Tableau, Power BI, and D3.js are at the forefront, enabling organizations to convert raw data into actionable visual insights. This advancement enhances decision-making and strategic planning across diverse industries. According to a report by Maximize Market Research, the transition from basic reporting tools to sophisticated, interactive analytics platforms signifies a transformative shift towards data-driven decision-making and increased operational efficiency. This evolution underscores the growing importance of advanced data visualization in optimizing business strategies and outcomes.

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GenAI is Creating New Possibilities in Data Visualization

AI-powered data visualization tools are set to revolutionize the Data Visualization Tools Market by offering dynamic and real-time insights that exceed the capabilities of traditional static charts. These advanced tools quickly analyze extensive datasets and adapt in real-time, providing up-to-the-second information that enhances decision-making speed and accuracy. Their interactive features boost the market by allowing users to engage deeply with data, tailoring visualizations to extract specific insights. The growing demand for sophisticated data analysis solutions is driving a growth in the market supply of AI-driven tools, increasing their market share and significance. As organizations increasingly prioritize data-driven strategies, AI-powered visualizations are becoming essential, boosting the Data Visualization Tools Market into a new era where data is seen actively experienced, and understood.

Data Visualization Tools Market Segment Analysis: Key Focus Area

The global Data Visualization Tools Market is segmented into various segments. Deployment Mode segment includes On-premises and cloud. The Cloud segment dominated the Deployment Mode segment of the Data Visualization Tools Market in the year 2023. Due to its scalability, cost-effectiveness, and ease of integration with other digital tools. The companies prefer cloud-based solutions for their ability to handle large data volumes, enabling real-time analytics and remote access, which supports the growing demand for flexible and efficient data management.

Data Visualization Tools Market: Regional Analysis

North America region significantly dominated the Data Visualization Tools Market in the year 2023. The presence of leading technology firms such as Microsoft, IBM, and Tableau in the United States is a key driver of the Data Visualization Tools Market. These industry giants are at the forefront of innovation, continually advancing data visualization technologies and creating a competitive ecosystem that fosters growth and improvement. The U.S. generates approximately 2.5 quintillion bytes of data daily, underscoring the need for effective visualization tools to manage and interpret this vast amount of information. Companies such as Amazon and FedEx have long utilized data analytics to optimize operations and customer insights, boosting demand. Also, Sage's launch of its AI-powered cloud-first Sage Data and Analytics service exemplifies the trend towards scalable, cloud-based solutions, enhancing business intelligence capabilities and accelerating the market forward.

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Data Visualization Tools Market: Segmentation

By Tool

1. Standalone
2. Integrated

By Deployment Mode

1. On-premises
2. Cloud

By Organization Size

1. Large Enterprises
2. Small and Medium-sized Enterprises (SMEs)

By Business Function

1. Marketing and Sales
2. Human Resources
3. Operations
4. Finance

By Vertical

1. BFSI
2. Government
3. Healthcare and Life Sciences
4. Retail and eCommerce
5. Manufacturing
6. Transportation and Logistics
7. Telecommunications and IT
8. Other Verticals

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Data Visualization Tools Market key players

1. Salesforce (USA)
2. Microsoft (USA)
3. IBM (USA)
4. Qlik Sense (USA)
5. Sisense (USA)
6. Domo (USA)
7. Oracle (USA)
8. MicroStrategy (USA)
9. TIBCO Spotfire (USA)
10. GoodData (USA)
11. Plotly (Canada)
12. Geckoboard (United Kingdom)
13. SAP (Germany)
14. Klipsch (USA)
15. Zoho Analytics (India)

Maximize Market Research is leading Information Technology & Telecommunication, has also published the following reports:

1. Data Visualization Market: Data Visualization Market size was valued at US$ 3.92 Billion in 2023 and the total revenue is expected to grow at a CAGR of 9.5 % from 2024 to 2030, reaching nearly US$ 7.39 Billion. The growing adoption of data visualization in small and medium businesses across the globe drives the Data Visualization Market.
2. Data Visualization Software Market: The Global Data Visualization Software Market size was valued at USD 9.55 Billion in 2023 and is expected to reach USD 21.70 Billion by 2030, at a CAGR of 12.43 %. Data-driven decision-making, AI and Machine Learning Integration, and Digital Transformation are the growth drivers for the Data Visualization Software Market.
3. Data Analytics Market: The data Analytics Market size was valued at USD 54.04 Billion. In 2023 the total Data Analytics revenue is expected to grow by 29.47 % from 2024 to 2030, reaching nearly USD 329.53 Billion. The rapid growth in the data analytics market is driven by factors such as digitalization, IoT devices, social media, and online transactions.
4. Healthcare Big Data Analytics Market:-The global Healthcare Big Data Analytics Market is expected to hit USD 99.12 Billion by 2030 from USD 26.87 Billion in 2023 at a CAGR of 20.5 % during the forecast period. Increased government initiatives that promote the use of electronic health records are expected to drive the Healthcare Big Data Analytics Market.
5. Advanced Visualization Market size is expected to grow at a CAGR of 12.45% during the forecast period and the market size is expected to reach nearly US$ 5.91 Bn. by 2029.
6. Visualization and 3D Rendering Software Market size was valued at US$ 3.38 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 23.1% through 2024 to 2030, reaching nearly US$ 14.50 Bn.
7. 3D Modeling, 3D Visualization, and 3D Data Capture Market is worth USD 0.81 Billion in 2023 and is estimated to grow at a CAGR of 4.1% in the forecasted period. The forecasted revenue hints at a growth of around 1.08 billion USD by 2030.

Key Benefits for Stakeholders:

• Data Visualization Tools market report offers a comprehensive analysis of the, combining both quantitative and qualitative insights. It covers segment analysis, current trends, market dynamics, challenges, and forecasts for the industry from 2024 to 2030.
• Utilizing Porter's Five Forces framework, the report examines the power of buyers and suppliers, supporting stakeholders in making informed decisions and strengthening supplier-buyer relationships.
• A detailed look at market segmentation covers key opportunities within the Data Visualization Tools sector.
• Major countries within each region are mapped according to their revenue contributions, highlighting their impact on the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

About Maximize Market Research:

Maximize Market Research is a multifaceted Market Research and consulting company with professionals from several industries. Some industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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