Data visualizations are going modern with new technologies around the corner. Consequently, the market value of data visualization is growing too. Data visualization industry was valued at $9.06 billion in 2019. Now, the industry is projecting a market size growth of $15.35 billion by 2026.
Here is an article on the latest trends happening in data visualization market. These trends reflect the move towards verticalized data visualizations, captivating visual experiences accessible across different devices.
1) Digital Twins
A device’s data stream contribute to building the digital twin of the device. A digital twin is the virtual model of the device. For example, the digital twin of telemetry systems monitoring temperature, pressure, vibration levels, helps in remote monitoring of performance.
Visualizing the digital twins using interactive dashboards have now gone outdated. Recent platforms such as Microsoft Azure Digital Twins and Oracle’s IoT Asset Monitoring Platform makes picturing the digital twins easier. These platforms integrate data streams with the 3D models of the device to achieve high-fidelity digital twins.
3) Industry-Specific Data Visualization offerings
Data visualization solutions enable different industries to do better business. For example, data visualizations in shipping industry is enabling the ship operators to monitor vessel performance in terms of safety and operations. Similarly, the automobile industry is using data visualization to spot errors in vehicle development workflows and optimize them. Data visualization in agriculture enables prescriptive crop planning. Augmented reality (AR) is the next step of data visualization. And financial service companies use AR to map out data-driven wealth management scenarios.
4) Mobile-Optimized Data Visualizations
Covid-19 has changed routine office lifestyle to work-from-home lifestyle. Desktop computer usage have decreased, and people use smartphone more. More than half of global webpage views in 2020 came from smartphones. So, enterprise SaaS providers have taken a mobile-first approach in their data visualization designs.
5) AI-Powered Data Visualizations
AI/ML based visualizations have taken a leap and become a trendsetter in the data visualization space. At the same time, automated systems leveraging trained ML models help to construct UI dashboards faster. These systems are auto tuned to deliver unique insights and visualizations at the right time.