The Visual Analytics Market is projected to grow from USD 9.82 billion in 2024 to USD 33.77 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.70% during the forecast period (2024 - 2032). Additionally, the market size for visual analytics was valued at USD 8.23 billion in 2023.
Increased usage of visually driven data and growing demand for analytical tools among enterprises are the key market drivers enhancing market growth.
Figure 1: Visual Analytics Market Size, 2024-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Rising adoption of cloud technology is driving the market growth
The visual analytics market is seeing a rising adoption of cloud technology. This is due to cloud-based visual analytics solutions' many benefits, such as scalability, flexibility, and cost-effectiveness. Cloud-based visual analytics solutions allow businesses to scale their visual analytics capabilities up or down as needed, which is ideal for businesses with fluctuating data volumes. Additionally, cloud-based visual analytics solutions are typically more flexible than on-premises solutions, as they can be accessed from anywhere with an internet connection. Finally, cloud-based visual analytics solutions are often more cost-effective than on-premises solutions, as businesses do not have to invest in the hardware and software necessary to run a visual analytics solution on-premises. Furthermore, the adoption of cloud technology in the visual analytics market is expected to grow in the coming years. Businesses of all sizes are driving this trend as they look for ways to improve their decision-making capabilities by leveraging the power of visual analytics. This factor drives the market CAGR.
Additionally, the amount of data generated through various technologies, such as the Internet of Things (IoT) and other data sources, is increasing globally, owing to better operation management and correct investments. Moreover, visual analytics helps analyze substantial data pools like structured and unstructured data that require additional services. Furthermore, companies prefer visual analytics software with advanced technologies, such as artificial intelligence (AI), big data, machine learning (ML), and others, to handle the amount of data and generate a better and more knowledgeable interpretation of statistics. For instance, in July 2021, Atos acquired Visual BI to enhance its ability to address customers' increasing need for BI and analytics in cloud environments. Such demands are driving the growth of the visual analytics industry. Thus, driving the Visual Analytics market revenue.
Based on Components, the global Visual Analytics market segmentation includes Software and Services. The software segment dominated the market because software is the core component of any visual analytics solution. Software is the core component of any visual analytics solution. The software provides the tools and functionality necessary to visualize and analyze data. The software can be customized to meet the specific needs of businesses.
Based on Deployment, the global Visual Analytics market segmentation includes On-Demand, On-Premise. The on-demand segment dominated the market because on-demand visual analytics solutions offer several advantages over on-premises solutions. On-demand visual analytics solutions can be scaled up or down as needed, which is ideal for businesses with fluctuating data volumes. On-demand visual analytics solutions can be accessed from anywhere with an internet connection, which gives businesses more flexibility. On-demand visual analytics solutions are ideal for businesses with fluctuating data volumes or that need to access visual analytics solutions from anywhere.
Figure 2: Visual Analytics Market, by Deployment, 2022 & 2032 (USD billion)
The global Visual Analytics market segmentation, based on Industry, includes IT, Retail, BFSI, Manufacturing, Military & Defense, Transportation & Logistics, and Others. The IT segment dominated the market because the IT industry is a major user of data and analytics, and visual analytics is a valuable tool for making sense of complex data sets. The IT industry is a major user of data and analytics, and visual analytics is a valuable tool for making sense of complex data sets. Furthermore, Visual analytics can help businesses to stay ahead of the curve by providing insights into customer behavior, market trends, and competitive landscape.
By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Visual Analytics market area will dominate this market due to the technological advancements and early adoption of analytical solutions in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: VISUAL ANALYTICS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Visual Analytics market accounts for the second-largest market share due to the increasing technological adoption and huge opportunities across industries in this Region. Further, the German Visual Analytics market held the largest market share, and the UK Visual Analytics market was the fastest-growing market in the European Region.
The Asia-Pacific Visual Analytics Market is expected to grow fastest from 2023 to 2032. This is due to increasing technological adoption and huge opportunities across industries in this Region. Moreover, China’s Visual Analytics market held the largest market share, and the Indian Visual Analytics market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Visual Analytics market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Visual Analytics industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Visual Analytics industry to benefit clients and increase the market sector. In recent years, the Visual Analytics industry has offered some of the most significant advantages to medicine. Major players in the Visual Analytics market, including IBM Corporation (U.S.), Oracle (U.S.), SAP (Germany), SAS Institute (U.S.), Tableau Software (U.S.), Microsoft (U.S.), MicroStrategy (U.S.), TIBCO Software (U.S.), Qlik (U.S.), and Alteryx (U.S.)., and others, are attempting to increase market demand by investing in research and development operations.
Rapid Miner Inc. is a software company that develops and sells data science and machine learning software. The Company is headquartered in Vienna, Austria, and has offices in the United States, Europe, and Asia. Businesses, governments, and academic institutions use the Company's software to build and deploy data science and machine learning models. RapidMiner Inc. partnered with Hivecell to allow users to rapidly generate and operate models with streaming data from the edge.
Microsoft Corporation is an American multinational technology corporation headquartered in Redmond, Washington. Microsoft's best-known software products are the Windows line of operating systems, the Microsoft 365 suite of productivity applications, and the Internet Explorer and Edge web browsers. Microsoft Corporation announced a collaboration with Consumer Value Store (CVS) Health to develop innovative solutions to help consumers improve their health.
G IBM Corporation (U.S.)
Oracle (U.S.)
SAP (Germany)
SAS Institute (U.S.)
Tableau Software (U.S.)
Microsoft (U.S.)
MicroStrategy (U.S.)
TIBCO Software (U.S.)
Qlik (U.S.)
Alteryx (U.S.)
February 2021: RapidMiner Inc. partnered with Hivecell to allow users to rapidly generate and operate models with streaming data from the edge.
December 2021: Microsoft Corporation announced a collaboration with Consumer Value Store (CVS) Health to develop innovative solutions to help consumers improve their health.
Software
Services
On-Demand
On-Premise
IT
Retail
BFSI
Manufacturing
Military & Defense
Transportation & Logistics
Others
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 8.23 billion |
| Market Size 2024 | USD 9.82 billion |
| Market Size 2032 | USD 33.77 billion |
| Compound Annual Growth Rate (CAGR) | 16.70% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Deployment, Industry and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | IBM Corporation (U.S.), Oracle (U.S.), SAP (Germany), SAS Institute (U.S.), Tableau Software (U.S.), Microsoft (U.S.), MicroStrategy (U.S.), TIBCO Software (U.S.), Qlik (U.S.), and Alteryx (U.S.) |
| Key Market Opportunities | Increased usage of visually driven data |
| Key Market Dynamics | Growing demand for analytical tools among enterprises |
Visual Analytics Market Highlights:
Frequently Asked Questions (FAQ) :
The global Visual Analytics market size was valued at USD 8.23 Billion in 2023.
The global market is projected to grow at a CAGR of 16.70% during the forecast period, 2024-2032.
North America had the largest share of the global market
The key players in the market areIBM Corporation (U.S.), Oracle (U.S.), SAP (Germany), SAS Institute (U.S.), Tableau Software (U.S.), Microsoft (U.S.), MicroStrategy (U.S.), TIBCO Software (U.S.), Qlik (U.S.), and Alteryx (U.S.).
The Software category dominated the market in 2023.
The On-Demand had the largest share in the global market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
