Data Visualization Market Growth and By Region – Global Opportunities & Forecast, 2020-2027

 

Global Data Visualization Market

The GMI Research foresees an augmentation in the Data Visualization Market over the forecast period. This is because of the rapid economic enhancement, prevalence of leading players, and excessive expenditure of enterprises on information analytics.

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Introduction of the Data Visualization Market

Data visualization is the depiction of information and data with various graphs and tables such as infographics, fever, area charts, and histogram. Data visualization enhances the decision-making process by finding trends, patterns, and relation between distinct data sets.  

Data Visualization Market Dynamics

Extensive development in big data and the evolving demand for predictive analytics and fast decision making are complementing the growth of the global data visualization market. Also, the implementation of artificial intelligence (AI) and internet of things (IoT) technologies will increase unstructured and structured data, thereby offering huge opportunities for the market growth. Further, the surging espousal of scientific visualisation and analytics of data by SMEs to identify the interconnection between multi-featured sets of data and interpret huge amounts of information to formulate a data-driven decision will supplement the market growth. Besides this, the easy approach to visualisation by various devices such as desktop, laptops, and mobile will further promote the global data visualization market size.

However, the inflated cost incurred on installation of visualization instruments and platforms will hinder the espousal of data visualization software by SMEs. Additionally, as per the global data visualization market research, the complication of support services including staff training and the insufficiently streamlined data safety has curbed the data visualization market size.

Component Segment Drivers

On the basis of component, the software segment is projected to seize a notable share in the market primarily because of the acquistion of business intelligence (BI) tools including Tableau, Microsoft Power BI, Sense, and Sisense by organizations to gauge data for business forecast.

About GMI Research

GMI Research is a leading consulting and market research enterprises, establish with the motive of helping clients tackle their imperative business challenges. The huge team of researchers and analysts conduct competitive intelligence studies to assist them acknowledging the upcoming opportunities via their fact-based research.

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