The global visual analytics market size reached US$ 7.7 Billion in 2023. Looking forward, the market is projected to reach US$ 31.3 Billion by 2032, exhibiting a growth rate (CAGR) of 16.86% during 2023-2032. The widespread product adoption in the power generation industry, extensive research and development (R&D) activities, and the increasing product demand in the marine industry represent some of the key factors driving the market.
Visual analytics refers to a field of study that uses various tools and processes to analyze datasets using graphical representations of the data. It combines automatic and visual analysis methods with human interactive exploration. It is widely used in applications that require a high level of monitoring and engagement, such as complicated and huge data sets and analytical procedures.
Visual analytics assists in making large or complex data understandable and accessible and helping organizations make better data-driven decisions. It visualizes data through graphs, charts, and maps that help in identifying patterns and thereby developing actionable insights. As a result, it finds extensive applications across various industries, including telecommunication, retail, healthcare, manufacturing, and media.
Apart from this, the integration of artificial intelligence (AI), cloud computing, and virtual reality (VR) solutions that offer predictions about consumer preferences, product development, and marketing channels is providing an impetus to the market growth. Additionally, the increasing demand for advanced visualization technology by enterprises and the growing demand for analytical tools are propelling the market growth. Furthermore, the rising demand for visual analytics from medium and large-scale enterprises for simplified data projection on various systems, such as desktops and smartphones, is positively influencing the market growth.
Besides this, the increasing utilization of visual analytics in the healthcare industry that assists in exploring, analyzing, and communicating complex healthcare data and improving decision-making is driving the market growth. Other factors, including the rising adoption of cloud technology, significant improvements in the IT infrastructure, extensive research and development (R&D) activities, and the implementation of various government initiatives to encourage digitization and enhance data-driven decision-making, are supporting the market growth.
2. What is the expected growth rate of the global visual analytics market during 2024-2032?
3. What are the key factors driving the global visual analytics market?
4. What has been the impact of COVID-19 on the global visual analytics market?
5. What is the breakup of the global visual analytics market based on the component?
6. What is the breakup of the global visual analytics market based on the service?
7. What is the breakup of the global visual analytics market based on the deployment mode?
8. What is the breakup of the global visual analytics market based on the enterprise size?
9. What is the breakup of the global visual analytics market based on the business function?
10. What is the breakup of the global visual analytics market based on the industry vertical?
11. What are the key regions in the global visual analytics market?
12. Who are the key players/companies in the global visual analytics market?
Visual analytics refers to a field of study that uses various tools and processes to analyze datasets using graphical representations of the data. It combines automatic and visual analysis methods with human interactive exploration. It is widely used in applications that require a high level of monitoring and engagement, such as complicated and huge data sets and analytical procedures.
Visual analytics assists in making large or complex data understandable and accessible and helping organizations make better data-driven decisions. It visualizes data through graphs, charts, and maps that help in identifying patterns and thereby developing actionable insights. As a result, it finds extensive applications across various industries, including telecommunication, retail, healthcare, manufacturing, and media.
Visual Analytics Market Trends
The increasing demand for visual analytics in the banking, financial services, and insurance (BFSI) industry across the globe is creating a positive outlook for the market. In line with this, the rising need to simplify the workload related to security and the increasing dependence on data generated from various information technology (IT) systems for financial transactions is favoring the market growth. Moreover, the escalating need for data-driven decision-making that eases the overall decision making process and reasoning from enormous data sets is acting growth-inducing factor.Apart from this, the integration of artificial intelligence (AI), cloud computing, and virtual reality (VR) solutions that offer predictions about consumer preferences, product development, and marketing channels is providing an impetus to the market growth. Additionally, the increasing demand for advanced visualization technology by enterprises and the growing demand for analytical tools are propelling the market growth. Furthermore, the rising demand for visual analytics from medium and large-scale enterprises for simplified data projection on various systems, such as desktops and smartphones, is positively influencing the market growth.
Besides this, the increasing utilization of visual analytics in the healthcare industry that assists in exploring, analyzing, and communicating complex healthcare data and improving decision-making is driving the market growth. Other factors, including the rising adoption of cloud technology, significant improvements in the IT infrastructure, extensive research and development (R&D) activities, and the implementation of various government initiatives to encourage digitization and enhance data-driven decision-making, are supporting the market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each segment of the global visual analytics market, along with forecasts at the global, regional, and country level from 2024-2032. The report has categorized the market based on component, service, deployment mode, enterprise size, business function and industry vertical.Component Insights:
- Software
- Service
Service Insights:
- Managed Service
- Professional Service
- Consulting Services
- Deployment and Integration
- Support and Maintenance
Deployment Mode Insights:
- On-premises
- Cloud-based
Enterprise Size Insights:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Business Function Insights:
- Information Technology (IT)
- Sales and Marketing
- Supply Chain
- Finance
- Human Resources (HR)
- Others
Industry Vertical Insights:
- BFSI
- Telecom and IT
- Retail and Consumer Goods
- Healthcare and Life Sciences
- Manufacturing
- Government and Defense
- Energy and Utilities
- Media and Entertainment
- Transportation and Logistics
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global visual analytics market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Alteryx Inc., Data Clarity Limited, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Qlik, SAP SE, SAS Institute Inc., Tableau Software LLC (Salesforce Inc.), TIBCO Software Inc., Ubiq, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. What was the size of the global visual analytics market in 2023?2. What is the expected growth rate of the global visual analytics market during 2024-2032?
3. What are the key factors driving the global visual analytics market?
4. What has been the impact of COVID-19 on the global visual analytics market?
5. What is the breakup of the global visual analytics market based on the component?
6. What is the breakup of the global visual analytics market based on the service?
7. What is the breakup of the global visual analytics market based on the deployment mode?
8. What is the breakup of the global visual analytics market based on the enterprise size?
9. What is the breakup of the global visual analytics market based on the business function?
10. What is the breakup of the global visual analytics market based on the industry vertical?
11. What are the key regions in the global visual analytics market?
12. Who are the key players/companies in the global visual analytics market?
Table of Contents
1 Preface3 Executive Summary14 Value Chain Analysis16 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Visual Analytics Market
6 Market Breakup by Component
7 Market Breakup by Service
8 Market Breakup by Deployment Mode
9 Market Breakup by Enterprise Size
10 Market Breakup by Business Function
11 Market Breakup by Industry Vertical
12 Market Breakup by Region
13 Drivers, Restraints, and Opportunities
15 Porters Five Forces Analysis
17 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Alteryx Inc.
- Data Clarity Limited
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Qlik
- SAP SE
- SAS Institute Inc.
- Tableau Software LLC (Salesforce Inc.)
- TIBCO Software Inc.
- Ubiq
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 7.7 Billion |
| Forecasted Market Value ( USD | $ 31.3 Billion |
| Compound Annual Growth Rate | 16.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
