North American data visualization tools market is anticipated to grow at a CAGR of 12.5% during the forecast period (2021-2027). The attributable factors contributing to the growth of the market include the presence of data visualization tools companies and well-developed IT industry in the region. According to the cyber state organization, there are 525,000 software companies in the US. Moreover, approx. 40, 500 technical start-ups were established in 2018. These start-ups included software publishers, suppliers of custom computer programming services, computer system designs firms, and facilities management companies.
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Apart from this, the presence of a skilled workforce in the region is propelling the growth of the market. For an instance, the US workforce has nearly two million people as a skilled workforce, and the number is continuing to grow over the last decade. As per the Select USA Government, the US is the market leader in cloud computing software services with some of the largest companies in the sector such as Microsoft Corp. and IBM Corp. Further, in Canada, the growing demand for a high-speed data network and the presence of an educated workforce of computer, data scientists and software engineers, who deals with the enterprise’s software and service solution is another major factor driving the growth of the market in the region.
Further, growing e-commerce industry in the region is propelling the growth of the market. The market growth is attributed to the presence of a well-established ICT infrastructure in the region. In addition, the region has witnessed a huge adoption of connected technologies in various industries including e-commerce retail and manufacturing. Increasing e-commerce sales and high internet penetration in the region have also been contributing to the growth of the North American IT industry, which in turn, is driving the demand for data visualization tools.
Key companies across the globe are highly inclined towards the adoption of different growth strategies including capacity expansion, R&D investments, partnerships and collaborations, mergers and acquisitions, geographical expansion, new product launch, and product innovation to remain competitive in the marketplace. For instance, in March 2020, IBM Corp. partnered with its IT services peers, and it integrated global services and global technology services capabilities to improve client engagement and increase the number of cloud sign-ins. Additionally, IBM Corp. partnered with Infosys to enable client’s digital transformations through the offerings of IBM public cloud.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
Segment Covered-
· By Software
· By Services
· By Deployment Model
· By Size
· By End-User
· Competitive Landscape- Salesforce. com Inc., Microsoft Corp., IBM Corp., and among others.
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North American Data Visualization Tools Market – Segmentation
By Tools
· Standalone
· Integrated
By Business Function
· Finance
· Human Resource
· Sales and Marketing
· Operations
By Organization Size
· Small and Medium Enterprises
· Large Enterprises
By Deployment Model
· On-Premise
· Cloud
By End-User
· BFSI
· Government
· Healthcare
· IT and Telecom
· Manufacturing
· Retail
· Transportation and Logistics
· Others (Education, Media and Entertainment, Energy and Utilities)
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
