The global data visualization tools market is anticipated to grow significantly at a CAGR of nearly 11.5% during the forecast period (2021-2027). The market is segmented based on a business function which is further classified into finance, human resource, sales and marketing, and operations. The sales and marketing segment is expected to account for the largest market size during the forecast period. The growth of the segment can be attributed as data visualization tools enable sales managers to monitor sales performance against quarterly goals for revenue, the percentage of closed deals, and the status of the deal stages in the sales funnel. Data visualization tools also support them in planning marketing strategies and identifying drivers and key performance indicators.
Browse the full report description Global Data Visualization Tools Market Size, Share & Trends Analysis Report, by Tool (Standalone and Integrated) , By Business Function (Finance, Human Resource, Sales and Marketing, and Operations), By Organization Size (Small and Medium Enterprises, and Large Enterprises), By Deployment Mode (Cloud and On-Premises), by End-User (BFSI, Government, Healthcare, IT and Telecom, Manufacturing, Retail, Transportation and Logistics and Others), Forecast Period, 2021-2027 at https://www.omrglobal.com/industry-reports/data-visualization-tools-market
Further, government initiatives such as digital media campaigns, social media marketing, video marketing, and search engine optimization are boosting the demand for data visualization tools in the SME segment. For instance, in May 2019, Info-Communications Media Development Authority (IMDA) launched a public consultation process to design a policy framework for facilitating 5G.
Apart from this, the key companies across the globe are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launch, and product innovation to remain competitive in the marketplace. For instance, in June 2020, IBM Corp. and SAP SE announced a partnership to develop and deliver advanced intelligent industry solutions that can potentially enable end-to-end processes and help businesses in accelerating the modernization of workflows and systems.
Further, in March 2021, Tableau declared a new dedicated area in London, UK, to capture data insights Tableau Online, which is a fully hosted software as a service (SaaS) product. The region is expected to offer improved performance and greater data locality options to Tableau users. Moreover, in November 2019, Microsoft announced the availability of Azure Synapse Analytics, a new Azure product for businesses. The solution is described by the firm as the next step in the evolution of Azure SQL Data Warehouse. It emphasizes the solution's compatibility with Power BI, and easy-to-use business intelligence and reporting tool, as well as Azure Machine Learning for model development. Its goal is to provide essential features for customer development.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected region/segment
Global Data Visualization Tools Market – Segmentation
By Tools
By Business Function
By Organization Size
By Deployment Model
By End-User
Global Data Visualization Tools Market – Segmentation by Region
North America
Europe
Asia-Pacific
Rest of the World
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