Data Visualization Software Market: Key Impact Factors That May Accelerate Market Growth
The growing adoption of data visualization in small and medium-sized businesses is expected to fuel the growth of the data visualization market.
PORTLAND, PORTLAND, OR, USA, Oct 18, 2021 /EINPresswire.com/ – Big Data is obtained from the growth of a number of social media and internet users as well as access multi-device to data visualization, which drives data visualization software market. In addition, an increase in the adoption of data visualization software tools in small and medium-sized enterprises (SMBs) is expected to fuel the market growth. However, the lack of technical skills to analyze and extract useful information and the higher cost of software are hampering the growth of the data visualization software market to some extent. Conversely, AI and deep learning are proliferating into new areas, which is opportunistic for the data visualization software market as it offers tools capable of visualizing complex deep learning engines and the data they generate.
The adoption of data visualization software, which is agile in responding to user commands, has become an important feature. The software should include a drag-and-drop user interface for creating graphic illustrations and dashboards. These interactive dashboards help active communication within the software network. It helps companies communicate effectively with their business partners, employees and customers.
In addition, software tools and data visualization techniques allow users to create custom dashboards that meet their specific business needs.
Modern businesses are obsessed with the democratization of data, which allows users within an organization to edit reports, access data, and extract information. Advanced data visualization techniques and self-service business intelligence enable business users to freely access data anytime, anywhere. Along with the secure sharing of data from various departments of an organization, it also provides real-time data updates and full annotations.
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Major Industry Payers – Tableau Software Inc., Microsoft Corporation, Oracle Corporation, International Business Machines Corporation, Tibco Software Inc., SAS Institute Inc., Sisense Inc., Microstratergy Inc. and Hitachi Vantara.
Impact of COVID-19 on the Data Visualization Software Market:
• COVID-19 has created major havoc in both health losses and economic crises around the world and has shut down various businesses. It has had a considerable impact on overall economic growth and productivity.
• As the world grapples with pandemics, data visualization software tools play a critical role in helping governments adapt to trends and extract relevant information from big data. Advanced data visualization helps researchers and governments closely monitor regular developments in the impact of COVID-19 and make decisions effectively.
• The market for data visualization software is flourishing and is expected to grow after the pandemic, due to factors such as the acceleration of business and consumer digitization for various technology companies, data driven automation will be a focus. strategic and cloud services continue to grow in the pandemic by leveraging ML and AI capabilities.
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