Summary
- • The global data visualization market was valued at $4.51 billion in 2019, and is projected to reach $7.76 billion by 2027.
- • 85% of businesses use data visualization to make better business decisions.
- • By 2022, 90% of corporate strategies will explicitly mention information as a critical enterprise asset and analytics as an essential competency.
- • 66% of companies consider data visualization to be a key priority for their organization.
- • 74% of marketers say they use data visualization tools to engage their customers.
- • The global data visualization market is expected to grow at a CAGR of 9.7% from 2020 to 2027.
- • 53% of businesses surveyed identified growth opportunities through data visualization.
- • Data visualization tools can help businesses save up to 30 hours per week on average in presentation preparation time.
- • The revenue of the global data visualization tools market is estimated to reach $7.76 billion by 2027.
- • More than 80% of organizations have invested in data visualization tools to better understand their data.
- • 67% of decision-makers believe advanced analytics and data visualization tools are more important now than they were five years ago.
- • The global data visualization software market is expected to grow at a CAGR of 9.1% from 2020 to 2027.
- • Over 90% of businesses agree that accurate data visualization tools are crucial for ensuring data accuracy and trustworthiness.
- • Data visualization can help improve decision-making processes by up to 49%.
- • The data visualization market in North America was valued at $1.43 billion in 2019.
Hold onto your bar charts and buckle up your scatter plots, because were diving headfirst into the dynamic world of data visualization! With the global market set to skyrocket from $4.51 billion in 2019 to a whopping $7.76 billion by 2027, its crystal clear that businesses are seeing the light through colorful graphs and interactive dashboards. From saving up to 30 hours per week in presentation prep to improving decision-making processes by nearly 50%, the stats dont lie – data visualization is the key that unlocks the treasure chest of insights. So grab your pie charts and join the data revolution, because in a world where 175 zettabytes of data are on the horizon, a picture really is worth a thousand spreadsheets!
Business Adoption Rate
- 85% of businesses use data visualization to make better business decisions.
- Data visualization tools can help businesses save up to 30 hours per week on average in presentation preparation time.
- More than 80% of organizations have invested in data visualization tools to better understand their data.
- 67% of decision-makers believe advanced analytics and data visualization tools are more important now than they were five years ago.
- Over 90% of businesses agree that accurate data visualization tools are crucial for ensuring data accuracy and trustworthiness.
- 65% of organizations believe that data analytics drive significant value for improving business processes.
- Over 50% of enterprises are expected to adopt modern BI and analytics as a strategic competency by 2022.
- 59% of businesses say that data visualization is key to communicating data insights to stakeholders.
- Only 34% of the average workforce understands their company’s data.
- 53% of companies are using big data analytics today, compared to 17% in 2015.
- 89% of business leaders believe big data will revolutionize business operations.
- 59% of businesses are failing to use big data effectively due to lack of tools and resources.
- 67.7% of executives rate data visualization by Tableau as excellent.
- 80% of respondents in a survey believe that data visualization improves productivity and decision-making in their organization.
- Approximately 1 in 3 business leaders are unable to access or act on the information they need to do their job.
- 84% of businesses are investing in data visualization to increase the quality of their decision-making.
- 84% of businesses believe that data visualization is essential for decision-making.
- 65% of organizations have invested in data visualization tools to improve decision-making processes.
- 70% of information workers are unable to find the data they need within the time needed to make strategic decisions.
- 57% of business leaders say that data visualization tools and techniques are crucial for their business.
- 68% of organizations believe that data visualization helps them better understand their customers.
- 52% of companies say data visualization tools are one of the top three technologies impacting operations.
- 63% of businesses use data visualization to track and monitor key performance indicators.
- 86% of organizations use data visualization for competitive advantage.
- 75% of businesses predict that data visualization usage will increase in the next two years.
- 55% of decision-makers in companies prioritize investing in data visualization technology for their teams.
- Across industries, 61% of organizations rate data visualization as a high priority for achieving business goals.
- 88% of businesses consider data visualization one of the top priorities for operational efficiency.
- Over 70% of businesses believe that data visualization helps in achieving higher return on investment.
- Around 60% of organizations are investing in data visualization tools to enhance communication and collaboration.
- 83% of enterprises use data visualization as a primary tool for making business decisions.
- Over 55% of organizations plan to invest more in data visualization tools and technologies in the next two years.
- 49% of business analysts use data visualization tools frequently.
- 76% of organizations believe that data visualization is crucial for understanding complex data and patterns.
- 61% of businesses state that data visualization tools have become an indispensable part of their decision-making processes.
Interpretation
In a world where data reigns supreme, the statistics paint a vivid picture of the power and potential unleashed by data visualization. With 85% of businesses turning to this visual medium for smarter decision-making, it's clear that seeing is believing when it comes to navigating the murky waters of data analysis. From saving precious hours to gaining crucial insights, the rise of data visualization tools signals a shift towards a more streamlined and efficient business landscape. Yet, amidst the glittering promises lie the stark realities – only 34% of the workforce truly grasps their company's data, highlighting the need for a democratized data culture. As we gaze into the crystal ball of technology's future, one thing remains certain – in this data-driven world, the clarity provided by data visualization will continue to be the guiding light for organizations seeking to chart a course towards informed decision-making and meaningful impact.
Corporate Strategy Integration
- By 2022, 90% of corporate strategies will explicitly mention information as a critical enterprise asset and analytics as an essential competency.
- 66% of companies consider data visualization to be a key priority for their organization.
- 53% of businesses surveyed identified growth opportunities through data visualization.
- Data visualization can help improve decision-making processes by up to 49%.
- 70% of employees have access to data they should not see.
- 73% of managers believe data should drive business strategy.
- 42% of organizations say that data analytics and big data will be their most significant area of investment over the next three years.
- 46% of organizations believe that a lack of data and analytics skills is the biggest challenge to implement data visualization effectively.
- Globally, 60% of businesses face delays in accessing important information due to data not being readily available.
- 79% of executives agree that a lack of data literacy is hurting their business.
- 76% of companies report that they make better decisions faster with data visualization.
- 85% of executives agree that data visualization is crucial for creating a data-driven culture in organizations.
Interpretation
In the lively world of data analytics, it appears that information isn't just a commodity; it's the crown jewel of corporate strategies. With 66% of companies recognizing the power of data visualization and 53% pinpointing growth opportunities through it, the message is crystal clear: seeing is believing. However, as the saying goes, with great data comes great responsibility, as evidenced by the alarming 70% of employees with access to classified information and the global struggle of 60% of businesses in accessing crucial data. Yet, amidst the challenges, the consensus remains strong—73% of managers champion data as the North Star guiding business strategy, while 76% of companies report swifter, smarter decisions with the help of data visualization. So, as organizations navigate the wild seas of data analytics, one thing is evident: in this age of information overload, the ability to visualize data effectively isn't just an asset—it's a necessity for shaping a truly data-driven culture.
Global Market Size
- The global data visualization market was valued at $4.51 billion in 2019, and is projected to reach $7.76 billion by 2027.
- The revenue of the global data visualization tools market is estimated to reach $7.76 billion by 2027.
- The global market size for data visualization tools was estimated at $8.2 billion in 2020.
- By 2025, the total amount of data created worldwide is expected to reach 175 zettabytes, with data visualization becoming increasingly important for understanding and leveraging this data.
- The global data visualization market is projected to grow at a CAGR of 10.9% from 2020 to 2027.
- The global data visualization market size is estimated to reach $8.84 billion by 2027.
- By 2025, the global data visualization software market is expected to reach $13.50 billion.
- In 2020, the data visualization market in the U.S. was valued at $1.4 billion.
- The revenue of the global big data and data visualization market is expected to reach $103 billion by 2027.
- The revenue of the global data visualization market is forecasted to reach $10.85 billion by 2027.
- The revenue from data visualization software is projected to surpass $7.34 billion by 2027.
- The global data visualization market is anticipated to grow at a CAGR of 8.5% from 2020 to 2027.
- The revenue of the global big data visualization market is estimated to reach $6.87 billion by 2027.
Interpretation
As the world hurtles towards a data-driven future at breakneck speed, the Data Visualization Industry stands as the artful interpreter of the digital cacophony. With a projected market value that could rival the GDP of a small country by 2027, it seems clear that making sense of the mind-boggling 175 zettabytes of data set to flood our planet by 2025 requires more than just a keen eye—it demands a sophisticated dance of charts, graphs, and colors. So, as the revenue numbers soar into the billions and the CAGR charts tick steadily upwards, it's safe to say that those who can turn raw data into mesmerizing visual stories hold the keys to unlocking the secrets of our data-saturated universe. It's time to polish those bar charts and brush up on your pie graphs, for the age of Big Data Visualization is upon us, and the world is watching.
Industry-Specific Growth
- The global data visualization market is expected to grow at a CAGR of 9.7% from 2020 to 2027.
- The global data visualization software market is expected to grow at a CAGR of 9.1% from 2020 to 2027.
- The data visualization market in North America was valued at $1.43 billion in 2019.
- The Asia-Pacific data visualization market is expected to grow at a CAGR of 11.8% from 2020 to 2027.
- The data visualization market in Europe is forecasted to grow at a CAGR of 9.9% from 2020 to 2027.
- The healthcare sector is expected to witness the fastest growth in data visualization adoption, at a CAGR of 12.3% from 2020 to 2027.
- The data visualization market in the Middle East and Africa is projected to grow at a CAGR of 8.6% from 2020 to 2027.
- The manufacturing sector is expected to contribute significantly to the growth of the data visualization market, with a CAGR of 9.2% from 2020 to 2027.
- The retail and e-commerce industry is projected to experience rapid growth in data visualization adoption, with a CAGR of 10.5% from 2020 to 2027.
- The global data visualization market is estimated to witness a CAGR of 9.1% from 2020 to 2027.
- The healthcare sector is expected to witness the highest growth in data visualization adoption, with a CAGR of 14.3% by 2027.
- The Asia-Pacific data visualization market is projected to grow at a CAGR of 11.8% from 2020 to 2027.
- The data visualization market in North America had a valuation of $1.43 billion in 2019.
- The global data visualization tools market size is expected to grow at a CAGR of 9.7% from 2020 to 2027.
- The retail sector is expected to see significant growth in data visualization adoption with a CAGR of 10.6% by 2027.
Interpretation
In a world increasingly driven by data, the global data visualization industry is painting a bright future with vivid statistics of growth on its canvas. With North America leading the charge at $1.43 billion in 2019, regions like Asia-Pacific and Europe are poised to showcase their own colorful expansion at impressive CAGRs. From healthcare to manufacturing, and retail to e-commerce, the sectors are embracing data visualization like a new-age Picasso, with each projected CAGR adding another brushstroke to a masterpiece of innovation. As the numbers dance and twirl, it's evident that in the realm of data visualization, the future is not just bright; it's positively kaleidoscopic with potential.
Marketing Utilization
- 74% of marketers say they use data visualization tools to engage their customers.
- Data visualization is 30 times more likely to be shared on social media than text and numeric data.
- 93% of all human communication is visual.
- 40% of people respond better to visual information than plain text.
- Data visualization can improve the understanding of data by 82%.
Interpretation
In a world where attention spans are shorter than a TikTok video, data visualization emerges as the superhero of effective communication. Marketers armed with visual tools are like modern-day magicians, wowing audiences and stirring engagement. With the persuasive power to outshine the plainness of text and numeric data by a whopping 30 times on social media, data visualization boldly proclaims its dominance. As we navigate a landscape where 93% of all human communication is visual, it becomes clear that seeing truly is believing. So, to the 40% who respond better to visual information than plain text, visualize your success and watch understanding soar by 82%. Data visualization isn't just a trend – it's the vibrant language of the future, where insight meets impact.
