Data Visualization Market Size to Reach USD 20.16 Billion in 2028 | Rapid Development in Augmented Reality and Virtual Reality Technologies for Better Interaction of Data in 3D Formats is a Key Factor Driving Industry Demand, According to Emergen Research - Seite 2

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Current Trends and Innovations

Innovation and advancement in data visualization tools have helped market achieve significantly higher revenue growth. For example, with the launch of Slack-First Analytics application, Tableau is providing greater access to insights from slack. Slack analytics dashboard gives a better insight into an organization.

Geographical Outlook

Market in Asia Pacific is expected to register a significantly rapid revenue growth rate during the forecast period due to growing awareness among various companies to explore new patterns in data silos. Furthermore, commercialization of artificial intelligence (AI) and machine learning (ML) technologies in developing countries such as China and India is boosting demand for data visualization tools in this region.  

Strategic Initiatives

In March 2021, Alteryx Inc., which is a California-based computer software company partnered with Tech Data with the aim of simplifying analytics, data science, and process automation to accelerate digital transformation for customers.

Some Key Highlights from the Report

• Support services segment revenue is expected to register a significantly robust growth rate during the forecast period, owing to rapid adoption of data visualization tools across various verticals for providing decision making support. Data visualization accelerates the process of decision making by offering convenient representation of data for easier communication.
• Small enterprises segment revenue is expected to register a significantly steady growth rate during the forecast period. Small enterprises as well as startups have good growth opportunities and huge requirement for data visualization tools, which is expected to drive revenue growth of this segment in future.
• Education segment accounted for a significantly large revenue share in 2020. Data visualization provides high-level insights for higher education and assists administration in decision making. As a result, demand for data visualization tools and software are increasing rapidly in the education sector.
• Some major companies included in the global market report are Alteryx Inc., InetSoft Technology Corp., Microsoft Corporation, Oracle Corporation, SAP SE, IBM Corporation, SAS Institute Inc., TIBCO Software Inc., Tableau Software LLC, and Dundas Data Visualization Inc.

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