DATA VISUALIZATION TOOLS MARKET ANALYSIS

Data Visualization Tools MarketSize and Trends

Global data visualization tools market was valued at US$ 6,500.0 Mn in 2022, exhibiting compound annual growth rate (CAGR) of 11.56% from 2023 to 2030.

Global Data Visualization Tools Market- Trends

Growing Digitization Trends and Increased Digital Data Production

Digital data output has increased over the last few decades, owing to increasing usage of digital devices like smartphones and computers in the daily lives of common people.  Digital data output has increased, owing to growing acceptance of the Internet of Things (IoT) and the data generated by numerous IoT devices. It is challenging for data analysts to evaluate the vast amounts of digital data productions. Tools for data visualization and summarization must be used to analyse massive amounts of data, in order to discover data trends and present visualization of these huge amounts of data, which can optimize the process of decision making in many business sectors. Moreover, with the adoption of big tools and analysis solutions, there is huge demand for data visualization tools.

Figure 1: Global Data Visualization Tools Market Share (%), By Region, 2022

Global Data Visualization Tools Market- Segmentation

Global data visualization tools market is segmented into deployment, tool, organization size, end user, and region.

Based on End User, retail and e-commerce segment is expected to exhibit a significant CAGR during the forecast period. The quantity of data created by different sources such as social networks, blogs, and applications, is rapidly increasing in the E-commerce industry. The majority of unstructured data is unused, despite the fact that it can provide important information, if utilized. Companies all over the world are working on improving their networking, communication solutions, and gadgets, resulting in a massive amount of big data.