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Global Data Visualisation Market to Grow at a CAGR of 9.40% During 2022-2027, Aided by the Growing Adoption of Data Visualisation Solutions in Various Businesses

According to a new report by EMR titled, ‘Global Data Visualisation Market Report and Forecast 2022-2027’, the global market for data visualisation is expected to grow at a CAGR of 9.40% in the forecast period of 2022-2027.

The increasing adoption of data visualisation solutions in businesses to identify issues, spot new opportunities, and create revenue streams is bolstering the market growth. As organisations are increasingly becoming more data-driven, data visualisation solutions are being deployed to boost decision-making abilities and gain a competitive advantage in the workplace. The market growth can also be attributed to the rising availability of mobile-friendly data visualisation tools with simplified interactive features. Moreover, advancements in artificial intelligence (AI) and machine learning (ML) are expected to propel the growth of the market for data visualisation. The development of innovative data visualisation solutions with user-centred designs that can easily discover trends and provide actionable insights is anticipated to provide further impetus to the market in the forecast period.

Some of the leading companies in the market are IBM Corporation (NYSE: IBM) and SAS Institute Inc. The latter partnered with PERSOWN to drive lifesaving insights and reduce COVID spread in December 2021. Under the partnership, the company would combine its artificial intelligence and data visualisation software with the latter’s instant diagnostics test data to cost-effectively visualise disease hot spots and understand infection trends. By visualising disease mutations as well as progressions, the solutions would empower governments to reduce disease spread, create early interventions, and mitigate the impact of the virus. Moreover, the combined solution would aid health leaders to better visualise, manage, and monitor potential COVID-19 variant outbreaks while preventing future pandemics. Such partnerships are increasing the demand for data visualisation solutions in the healthcare sector, which is propelling the growth of the market.

Market Analysis by Deployment, End Use, and Region:

  • The market, on the basis of deployment, can be divided into software and services.
  • Based on end use, the industry can be divided into retail, manufacturing, IT and telecommunication, BFSI, education, and government, among others.
  • The regional markets for data visualisation include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing data generation in major end-use sectors owing to the rising adoption of digital technologies is fuelling the market growth of data visualisation.
  • The market for data visualisation is being propelled by the rising smartphone penetration, growing internet usage, advancements in machine learning, and the surging IoT use, which, in turn, is increasing the requirement to efficiently track data.
  • The increasing deployment of data visualisation solutions by medium and small-sized enterprises for graphical data representation and simplified data projection is augmenting the market growth.
  • The rapid development of IT infrastructure, technological advancements, the rising use of data visualisation tools in the retail sector, and the growing use of connected devices are driving the market for data visualisation.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for data visualisation for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the deployments, end uses, and major regions of data visualisation.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global data visualisation market are IBM Corporation, Oracle Corporation, SAS Institute Inc., MicroStrategy Inc., TIBCO Software Inc., and SAP SE, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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