The Latest Data Visualization Industry Statistics Explained
The global data visualization market size was valued at USD 8.85 billion in 2019.
The statistic indicates that the total market value of data visualization products and services worldwide was estimated to be USD 8.85 billion in 2019. This figure represents the total revenue generated from sales and services related to data visualization tools, software, and solutions within the global market during that year. As organizations continue to recognize the importance of leveraging data to make informed decisions and drive business growth, the data visualization market has experienced significant growth due to the increasing demand for tools that facilitate the interpretation and communication of complex data sets in a visual and easily understandable format.
The Data Visualization Market is expected to reach $19.2 billion by 2027.
This statistic indicates the projected growth and size of the Data Visualization Market, estimating that it will reach a value of $19.2 billion by the year 2027. This suggests a significant increase in the adoption and investment in data visualization tools and technologies over the coming years, driven by the growing importance of data-driven decision-making across industries. The forecasted market size reflects the increasing demand for solutions that can efficiently analyze and present complex data in a clear and visually appealing manner, enabling businesses to derive insights and make informed decisions. Overall, this statistic highlights the significant opportunities and potential growth in the field of data visualization in the near future.
In 2020, the Asia-Pacific Data Visualization market was estimated to be $1.81 billion.
The statistic indicates that the Asia-Pacific region’s market for data visualization software and services was valued at approximately $1.81 billion in 2020. This figure represents the total revenue generated from the sale of data visualization tools, platforms, and related services in countries across the Asia-Pacific region during the specified year. The market size suggests a growing demand for data visualization solutions in this region, likely driven by the increasing adoption of data-driven decision-making practices by businesses and organizations. This statistic provides insight into the significant market opportunity for data visualization providers in the Asia-Pacific region and highlights the importance of leveraging data visualization tools to harness insights from data effectively.
Data visualization tools have a global market penetration of 76.7% in large enterprises.
This statistic indicates that 76.7% of large enterprises worldwide are utilizing data visualization tools as part of their operations. Data visualization tools are software applications that allow users to present data in graphical or visual formats, making it easier to understand and analyze complex information. The high market penetration of these tools suggests their importance and widespread adoption among large enterprises, highlighting the value that organizations place on leveraging visuals to gain insights from their data. This statistic underscores the significant role that data visualization plays in helping businesses make informed decisions and drive efficiency through data-driven strategies.
The BFSI segment held the largest market size within the Data Visualization industry, with a share of 26.15% in 2019.
This statistic indicates that in 2019, the BFSI (Banking, Financial Services, and Insurance) segment contributed the most significantly to the overall market size of the Data Visualization industry, accounting for 26.15% of the total market share. This implies that a significant portion of the demand for data visualization tools and services came from organizations operating within the BFSI sector. The dominance of this segment suggests a strong reliance on data visualization for analyzing and interpreting large volumes of financial data, enhancing decision-making processes, and improving operational efficiency within the banking, financial services, and insurance sectors.
The data illustration fragment is projected to show the quickest CAGR of 11.0% from 2020 to 2027.
This statistic indicates that the data illustration fragment is expected to experience a Compound Annual Growth Rate (CAGR) of 11.0% from the year 2020 to 2027. This means that, on average, the data illustration fragment is projected to grow at a rate of 11.0% per year over this time period. A CAGR is a useful metric for measuring the annual growth rate of an investment or data projection over time, providing a smooth representation of the growth rate and allowing for easy comparison across different time periods and industry sectors. The high CAGR of 11.0% suggests that the data illustration fragment is expected to grow rapidly and outperform other sectors during this period.
The on-premise deployment segment accounted for the largest market share of above 60% in 2019.
The statistic indicates that in 2019, the on-premise deployment segment captured the largest portion of the market, accounting for over 60% of the total market share. This suggests that a significant majority of businesses and organizations preferred to host their software solutions on their own servers and infrastructure rather than utilizing off-site cloud services. The high market share of on-premise deployment signifies a strong preference for control, security, and customization among consumers within the industry during that time period. It may also reflect varying levels of trust in cloud-based solutions, illustrating that despite the growing popularity of cloud computing, on-premise deployment remained a preferred option for a substantial portion of the market in 2019.
The cloud-based data visualization market is expected to grow at a CAGR of 9% from 2021 to 2026.
This statistic suggests that the market for cloud-based data visualization tools is projected to experience a Compound Annual Growth Rate (CAGR) of 9% over the period of 2021 to 2026. This indicates a steady and positive growth trajectory for the industry, with an expected increase in demand for cloud-based data visualization solutions over the coming years. Factors driving this growth could include the growing volume of data generated by businesses, increased adoption of cloud technologies for data storage and analysis, as well as the importance of data-driven decision-making in organizations across various sectors. Companies operating in this market are likely to benefit from this growth trend, provided they can offer innovative, reliable, and user-friendly data visualization solutions to meet the evolving needs of their clients.
The North American market took up about 42.43% of the global data visualization market in 2019.
The statistic “The North American market took up about 42.43% of the global data visualization market in 2019” indicates that North America accounted for nearly half of the share in the global data visualization market in that year. This suggests that North America is a significant player in the data visualization industry compared to other regions around the world. Companies within North America likely have a strong presence and influence in the data visualization market, which could be attributed to factors such as technological advancements, a large customer base, and a robust economy. Understanding this statistic can help businesses and policymakers make informed decisions regarding market strategies, investments, and partnerships within the data visualization sector.
The use of data visualization in education is predicted to grow from a $4.1 billion industry in 2017 to a $7.3 billion industry by 2025.
This statistic highlights the increasing importance and adoption of data visualization in the field of education over the coming years. With a projected growth from a $4.1 billion industry in 2017 to a $7.3 billion industry by 2025, it signals a significant surge in investment and utilization of data visualization tools and techniques to enhance teaching, learning, and decision-making processes within educational institutions. This anticipated growth suggests a recognition of the value that data visualization brings in improving educational outcomes, understanding trends, and facilitating data-driven decision-making practices across all levels of the education sector, ultimately leading to more informed and effective educational strategies and interventions.
Unstructured data is estimated to make up more than 79.2% of all data created by 2025, driving the growth of data visualization tools.
This statistic highlights the rapid expansion of unstructured data within the digital landscape, with projections indicating that it will encompass over 79.2% of all data generated by 2025. Unstructured data refers to information that does not adhere to a predefined data model or is not organized in a structured manner, such as text, images, videos, social media posts, and sensor data. The surge in unstructured data presents significant challenges in terms of storage, organization, and analysis. To tackle this issue, data visualization tools are gaining prominence as essential aids in making sense of unstructured data by converting it into visual representations that can be easily interpreted and analyzed, thus driving the adoption and development of such tools to effectively harness the insights contained within this growing data type.
Small and medium enterprises (SMEs) held a market share of over 30% in the global data visualization industry in 2019.
This statistic indicates that small and medium enterprises (SMEs) collectively accounted for more than 30% of the market share within the global data visualization industry in 2019. This suggests that SMEs, despite their smaller size compared to larger corporations, are significant players in the data visualization sector, demonstrating their competitiveness and ability to capture a notable portion of the market. The strong presence of SMEs in this industry highlights the dynamism and innovation that these smaller businesses bring to the market, showcasing their capacity to meet the diverse and evolving needs of customers seeking data visualization solutions.
The demand for real-time data visualization in the Asia-Pacific region is expected to grow at a CAGR of 22% during the forecast period.
This statistic indicates that the demand for real-time data visualization tools in the Asia-Pacific region is projected to increase at a Compound Annual Growth Rate (CAGR) of 22% over a specified forecast period. This growth rate suggests a significant uptick in the adoption and usage of data visualization technologies by businesses, organizations, and individuals in the region. Real-time data visualization allows users to access and interpret data instantaneously, enabling them to make faster and more informed decisions. The rapid expansion of this market signifies a growing recognition of the value and benefits that real-time data visualization can offer in enhancing data analysis, decision-making processes, and overall business performance within the Asia-Pacific region.
Data visualization usage in South America grew by 56% in 2020.
The statistic ‘Data visualization usage in South America grew by 56% in 2020’ indicates a significant increase in the adoption and utilization of data visualization tools and techniques across the region during the year. This growth suggests a heightened emphasis on leveraging data visualization to better understand and communicate insights from data. The 56% increase implies a notable shift towards utilizing visual representations to analyze and present data, highlighting the importance of visual communication in decision-making processes, enhancing data-driven strategies, and potentially suggesting a growing awareness and recognition of the benefits that data visualization brings in various industries and sectors in South America.
The healthcare sector’s investment in data visualization is expected to reach $7.4 billion by 2025.
The statistic indicates that the healthcare sector is projected to invest $7.4 billion in data visualization technologies by the year 2025. This substantial investment highlights the growing importance of leveraging data visualization tools and techniques within the healthcare industry to make sense of vast amounts of data and derive valuable insights. By investing in data visualization, healthcare organizations aim to enhance decision-making processes, improve operational efficiencies, and ultimately deliver better patient outcomes. This statistic underscores the increasing recognition of data visualization as a critical asset for driving innovation and improving the overall quality of care within the healthcare sector.
More than 68% of companies leverage data visualization for improving their cybersecurity posture.
The statistic indicates that a significant majority, specifically more than 68%, of companies utilize data visualization as a tool to enhance their cybersecurity defenses. Data visualization is the practice of representing complex data in graphical or visual formats, making it easier for organizations to analyze and understand patterns, trends, and potential threats within their cybersecurity landscape. By leveraging data visualization, companies can effectively identify vulnerabilities, anomalies, and potential areas of risk, enabling them to strengthen their cybersecurity posture and protect their digital assets from cyber threats. The statistic highlights the increasing recognition among businesses of the value and effectiveness of data visualization in bolstering cybersecurity measures.
85% of leading businesses believe data visualization is critical for data analysis.
The statistic that 85% of leading businesses believe data visualization is critical for data analysis suggests that a vast majority of top companies value the use of visual representation to make sense of their data. Data visualization involves presenting complex information in a visual form such as graphs, charts, and diagrams, making it easier to identify patterns, trends, and insights in the data. Businesses rely on data analysis to drive informed decision-making and improve their operations, and the high percentage of companies recognizing the importance of data visualization highlights its effectiveness in enhancing data understanding and communication within organizations. By utilizing data visualization tools and techniques, these businesses can effectively interpret and leverage their data to gain a competitive edge in the market.
Roughly 49% of businesses perform data analytics with data visualization for making data-driven decisions.
The statistic states that approximately half of businesses engage in data analytics coupled with data visualization practices to inform decision-making processes. This indicates a growing awareness and utilization of data-driven techniques among organizations seeking competitive advantages through informed decision-making. By visualizing data, businesses can gain deeper insights, identify patterns and trends, and communicate key findings effectively, ultimately facilitating more strategic and evidence-based decision-making. The statistic suggests that organizations are recognizing the value of harnessing data through visualization tools to derive actionable insights and steer their operations toward greater efficiency and success.
Conclusion
The data visualization industry continues to experience significant growth and demand as organizations increasingly recognize the value of effectively illustrating and communicating their data. With advancements in technology and tools, the future looks promising for professionals in this field as they harness the power of data visualization to drive insights and decision-making.
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