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Visual Analytics Market Share

ID: MRFR//3392-HCR | 100 Pages | Author: Aarti Dhapte| November 2024

The Visual Analytics market space is getting increasingly complex. Matter of speaking, there arises competition for the piece of the market share among different companies fighting their way up. Organizations which work so much, of course at various sectors use diverse positioning methods to cut themselves out and to focus on the audience they want. A popular approach is item diversification: companies focus on offering broad and diverse visual textures. This could pass all the firewalls, breathtaking original components, and simple deft engineering already beyond the opponents. These features will be used to market, projects and possibly attract consumers interested in specific functions or unique customers experiences.

A method that contributes toward characterization of a historical figure of interest is the approach of placing. Certain Visual Analytics market players find the niche of price chasers and come out with the cost-saving yet quality-first solutions. This is cost sensitive targets and with the said aim of attaining marketing premium by giving out incentives for paying in cash. On one side, some organizations claiming to be of high scores and expertize show up and insist on the best quality of their visual analytics performance while some others creates competitors with higher rating and advanced technicalities of their equipment. Companies took advantage of this marketing strategy by pinpointing individuals with the financial capability of putting more to get the best products and results. Among considering and assessing both promotion and downgrading of an organization's position, always access to harmony becomes a vital point when talking about sustainability of an enterprise in this competitive market.

Market division, which can be considered one of the most prominent forms in Visual Analytics, plays a pivotal role in this approach, which is made possible through the combined use of data visualization, data exploration, and interactive User Interfaces. Companies brand their products line up so that to match prudent industry verticals or specialty market models and satisfy the specific needs. By targeting the needs that form the segment of the market and making sure that their products are in line with them, businesses build the reputation of being the authorities in a specific field, gaining credibility and respect from the market. In contrast, this specialized way will involve far more hands-on marketing campaigns and an all in all greater awareness and understanding of what our customers really need. Consequently, better market shares will be reached in the chosen segment.

Besides stocking, placing, and exercising location management strategy, organizations and alliances have a vital role in the share of market. Several related businesses in the visual analytics field are structuring strategic alliances with stakeholders like technology partners, data suppliers, or other industry counterparts. Such networks can reward existing incentives with corresponding innovations or more diverse information sources. From the damage to sea life and habitats to excessive waste production, these environmental consequences threaten both wildlife and the precious ecosystems on which we rely. Hence, the business puts itself alongside with lucrative collaborators who are part and parcel of a large-scale ecosystem, creating a good image of its own brand and increases its visibility in the market.

Covered Aspects:

Report Attribute/Metric	Details
Base Year For Estimation	2022
Historical Data	2018- 2022
Forecast Period	2023-2032
Growth Rate	19.30% (2023-2032)

Visual Analytics Market Highlights:

Visual Analytics Market Trends

Visual Analytics Market Analysis

Visual Analytics Market Share

Visual Analytics Companies

Visual Analytics Market Overview

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)

Visual Analytics Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Visual Analytics Market Trends

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.

Visual Analytics Market Segment Insights

Visual Analytics Component Insights

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.

Visual Analytics Deployment Insights

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)

Visual Analytics Market

Source: Secondary Research, Primary Research, MRFR Database and Analyst ReviewVisual Analytics Industry Insights

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.

Visual Analytics Regional Insights

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.

Visual Analytics Key Market Players& Competitive Insights

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.

Key Companies in the Visual Analytics market include

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.)

Visual Analytics Industry Developments

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.

Visual Analytics Market Segmentation

Visual Analytics Component Outlook

Software

Services

Visual Analytics Deployment Outlook

On-Demand

On-Premise

Visual Analytics Industry Outlook

Retail

BFSI

Manufacturing

Military & Defense

Transportation & Logistics

Others

Visual Analytics Regional Outlook

North America

Canada

Europe

Germany

France

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

Visual Analytics Companies

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