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Visual analytics market has experienced a remarkable acceleration over the period due to the strong interests for data-driven knowledge in different industries. Since organizations feel being in proximity with information visualization is paramount, they have acknowledged an increase in uptake of visual analytics. On the other hand a major pattern shaping this market is a developing combination of the fundamentals of new technology embodied, for instance, intelligent systems and AI into visual tools. Thus, these improvements enable more in-depth and keen approach to visual analytics since they offer more precise and prophetic analysis of the amazing volumes of data.
For instance, another growing trend is increasingly in-depth data analysis. There are many factors that are making speed the major differentiator among businesses today. Instantaneous responses are needed by companies to effectively address the market dynamics. The growth of visual analytics systems that allow operations with continuous data visualization and investigation tools is now popular since they help companies decide on the “spot” things. When trying to find something that exemplifies this pattern the most, there are several directions that stand out above the rest such as money, medical care and e-commerce, where fast decision making is very vital for a success.
Also there are visual analytics programs based on the cloud which are gaining popularity. With the transition into the distributed computing domain, the end-users of the visual analytics market are able to enjoy the benefits of scalability, flexibility and low-cost services being the rudiments of this change. Changes from traditional visual reports to the cloud-based visual analysis stage means customers have accessibility and capability to get and examine information from anywhere so this influences cooperation among participants and sharing the burden of IT infrastructure.
Furthermore, the visual analytics market now involves trending engaging modes of communications. The technological advancement that produced cell phones and tablets has resulted in the need for more visual and easily navigated analytics tools that can be used on the go. Vibrant connection spots and interactive renderings are the elements in standard regarding presenting information visuals on a regular basis across devices.
Another influential theme to the visual analytics market share is self-administration analytics. With the affiliates, the nontechnical users and hard to understand interfaces are now a thing of the past and the consumers are able to create their reports and visualizations on their own without the need for tech division in their respective organizations. This style of information conveyance via official channels individualizes the access to and promotion of information by initiating an “information culture” within these associations.
Be it information’s maintaining and security, it is becoming the pivotal theme upon which the whole field of visual analytics turns. Providers of such delicate data are under increased surveillance and they have to be responsible regarding showing integrity and safety of the information displayed. Due to the fact vendors’ security enhanced graphics instruments have been used more and more, sellers are now using them to address those challenges. These features include encryption, access management, and performance of security policies.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Increased usage of visually driven data |
| Market Dynamics | Growing demand for analytical tools among enterprises |
Visual Analytics Market Highlights:
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)
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)
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
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G IBM Corporation (U.S.)
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Oracle (U.S.)
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SAP (Germany)
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SAS Institute (U.S.)
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Tableau Software (U.S.)
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Microsoft (U.S.)
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MicroStrategy (U.S.)
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TIBCO Software (U.S.)
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Qlik (U.S.)
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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
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Software
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Services
Visual Analytics Deployment Outlook
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On-Demand
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On-Premise
Visual Analytics Industry Outlook
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IT
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Retail
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BFSI
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Manufacturing
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Military & Defense
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Transportation & Logistics
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Others
Visual Analytics Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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