Hour to Make Informed Business Decisions is Boosting the Demand for the Solutions Offered by the Top Data Visualization Companies

The growing focus of businesses and enterprises on visual analytics, scientific visualization, and information visualization is fostering the market growth. Businessmen are investing in visualization tools and getting indulged in joint ventures with major players due to this factor. As per a report by Fortune Business Insights™, the market for data visualization reached USD 8.85 billion in 2019 and is set to reach USD 19.20 billion in 2027 with a CAGR of 10.2% during 2020-2027. The market reached USD 8.85 billion in 2019. Top data visualization companies have been broadening their product portfolios through mergers and acquisition strategies and partnerships.

Fortune Business Insights™ Profiles Top 10 Key Companies in the Data Visualization Industry

1. Workday, Inc.

Workday, Inc. is one of the top data visualization companies globally, offers enterprise cloud applications for human resources and finance for customers to opt and resolve complex problems in business, such as enabling and supporting the workforce in spending and finance management in a dynamic environment. Software-as-a-service solutions are provided by the company through subscription and professional services for organizations to boost digital transformations in the volatile business environment. In July 2023, Workday, Inc. launched Elastic Hypercube Technology (EHT), a next-generation intelligent modeling engine that can be deployed with Workday Adaptive Planning, which manages changing business requirements and is for complex business situations.

2. Alteryx

Alteryx, a California-based data visualization solutions provider, offers Analytics Cloud Platform, which allows users to explore high-impact insights with AI-powered analytics automation. In addition, the company provides analytics capabilities to users and end-to-end analytics solution support. In May 2023, Alteryx announced the launch of the AiDIN generative AI engine in its Analytics Cloud Platform to boost analytical productivity and efficiency for the automation of data analytics and make it available to a wider audience.

3. Insightsoftware

Insightsoftware offers reporting, performance management, and analytics solutions that aid businesses in accounting, operations, planning, HR management, supply chain, and finance. In addition, real-time data is provided by the company to offer solutions to boost financial intelligence across organizations and enhance accuracy, productivity, compliance, and visibility. In February 2023, insightsoftware announced the acquisition of Power ON, a U.S.-based software company that transforms Microsoft Power BI into an inclusive planning and data collection solution. This acquisition advanced enterprise customers to streamline and improve planning and data-gathering across the organization and extended the company’s operational capabilities.

4. Highcharts

Highcharts, the charting library written in pure JavaScript, provides an interactive chart to the web application or website. The multi-platform charting library is provided by the company, enabling developers to improve interactive charts for mobile and web projects of any size. All Highcharts data visualization libraries get integrated with Highcharts Dashboards. In May 2023, the company announced the launch of the Highcharts platform for the Python toolkit. Moreover, Python for Highcharts suite of visualization libraries such as Highcharts Gantt, Highcharts Stock, Highcharts JS, Highcharts Export Server, and Highcharts Maps are offered by this collection. More than 100 various visualizations with key components of the Python data science ecosystem will be supported by this tool kit.

5. TABLEAU SOFTWARE, LLC

TABLEAU SOFTWARE, LLC, the global provider of data visualization tools, has various unique and desirable features. Tableau drag-and-drop feature for data visualization, easy combination of multiple databases, and discovery of various views are provided by the company. In May 2023, generative technology of the ChatGPT question-answering application type to its core data visualization platform was added by the Tableau Software. This platform would feature deployment with tools, including Salesforce email and Slack, for the integration of reports into existing workflows.

6. Microsoft

Microsoft Power BI, an adaptable and integrated platform for self-service and enterprise business intelligence (BI), connects and envisions any data and fills the charts into the apps. Moreover, datasets from any data source are developed by the company and then added to the Power BI data hub to create a single source. In May 2023, Microsoft unveiled a Copilot assistant, and through this new solution, users can create a report automatically covering multiple charts and formulate answers to their questions.

7. TIBCO Software Inc.

TIBCO Software Inc. provides a connective intelligence platform that helps in combining data for access, trust, and control, predicting real-time results, and connecting any application or data source. Anyone can discover data through visual exploration and advanced analytics applications by using TIBCO Spotfire end-to-end enterprise-class analytics platform. In May 2023, the company launched a new version of Spotfire 12.2, its data visualization and analytics platform equipped with new features that emphasize supporting developers and strengthening the software’s capability to end-to-end solutions integrating data science, streamlining tools, and data management.

8. IBM

IBM provides AI-infused integrated analytics platforms that offer deeper insights across cloud and on-premise environments and trusted and high-quality data. Data consumption for self-service analytics to boost better business outcomes is improved by this platform. In May 2023, Map Intelligence v4.26 was unveiled by Attain Insight, an advisor and provider of SaaS solutions. This solution offers support for the latest IBM Cognos Analytics 11.2.4 release. It is also inclusive of new capabilities that allow users access to advanced spatial analytics and map visualizations within the IBM Cognos Analytics dashboards and reports.

9. Domo, Inc.

Domo, Inc. provides business cloud, a modern business intelligence software platform, enabling processes on business intelligence data. Users can share, display, interact, and analyze the data through perfect visualizations with the help of Domo's Explorer analytics suite. In March 2023, the company unveiled a cloud amplifier to offer support to its multi-cloud data solutions. With this new cloud amplifier, customers can develop their businesses through the integration of reporting and data investments, which would help unify data governance and offer real-time data and insights.

10. HERE

HERE Technologies, a location data and technology company, creates a platform across various industries such as transport and logistics, manufacturing, retail, public sector, and mobility. Location-centric solutions with a wide range of intuitive tools, precise location services, and global map content are developed by the company. In February 2023, the company inked a deal with Cognizant, the professional services company, to provide insights to customers across automotive, manufacturing, logistics, and retail sectors and real-time location analytics. Moreover, HERE location platforms will be integrated by Cognizant with exchange and data visualization features for businesses to cater to customers better.

How Will the Detection of Business and Operational Patterns Create A Plethora of Opportunities for Market Growth?

Users can grasp information and insights from a vast amount of data easily using visualization platforms. Decision makers are aided by these platforms for the identification of co-relation between multi-dimensional data sets and providing effective tools and features for data interpretation. Moreover, these tools are being adopted by several industries, including services and telecommunications, e-commerce, research and retail, and information technology, among others, for identifying sales and customer buying patterns.