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Visual Analytics Market Report by Component (Software, Service), Service (Managed Service, Professional Service), Deployment Mode (On-premises, Cloud-based), Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), Business Function (Information Technology (IT), Sales and Marketing, Supply Chain, Finance, Human Resources (HR), and Others), Industry Vertical (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, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A6824
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Market Overview:
The global visual analytics market size reached USD 7.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 31.3 Billion by 2032, exhibiting a growth rate (CAGR) of 16.4% during 2024-2032. 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.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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USD 7.7 Billion |
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Market Forecast in 2032
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USD 31.3 Billion |
| Market Growth Rate 2024-2032 | 16.4% |
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 mostly used in applications that require a high level of monitoring and engagement. Some of these include complicated and huge data sets and analytical procedures. Visual analytics makes large or complex data more understandable and accessible, helping organizations make better data-driven decisions. It visualizes data through graphs, charts, and maps that aid in identifying patterns and developing actionable insights. As a result, it finds extensive applications across various industries, such as telecommunication, retail, healthcare, media, and manufacturing.
Visual Analytics Market Trends:
Growing Demand for Visual Analytics in the BFSI Sector
The growing demand for visual analytics in the banking, financial services, and insurance (BFSI) sector is a major factor driving the visual analytics industry. This demand is fueled by the need to simplify workloads related to security and the need to manage the large amounts of data generated by IT systems during financial transactions. These solutions aid in data-driven decision-making, which eases the process of analyzing large datasets. These factors are becoming increasingly important in the BFSI sector and driving industry growth.
Integration of Advanced Technologies
The integration of advanced technologies, such as AI, cloud computing, and virtual reality (VR), is also increasing the visual analytics market share. These technologies can predict consumer preferences and improve product development by optimizing marketing strategies. Advanced visualization tools are, therefore, being increasingly adopted by enterprises to improve their data analysis and decision-making processes, which further supports market growth. Besides this, medium and large enterprises are employing visual analytics to project data across multiple platforms such as desktops and smartphones, thereby ensuring smooth access to insights.
Expanding Use in Healthcare and other Industries
Visual analytics are becoming popular in the healthcare industry. In this sector, these solutions help professionals to analyze and communicate complex information, which helps in better clinical and administrative decision-making. Visual analytics give insight into patient care and operational efficiency by transforming large amounts of healthcare data into communicative visualizations. Market growth is also driven by the increasing adoption of cloud technology solutions and government initiatives for digitization. Extensive research and development (R&D) measures are also giving rise to more sophisticated visual analytics tools, driving their adoption in numerous industries.
Key Market Segmentation:
IMARC Group 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 levels for 2024-2032. Our report has categorized the market based on component, service, deployment mode, enterprise size, business function and industry vertical.
Component Insights:
- Software
- Service
The report has provided a detailed breakup and analysis of the visual analytics market based on the component. This includes software and service. According to the report, services represented the largest segment.
Service Insights:
- Managed Service
- Professional Service
- Consulting Services
- Deployment and Integration
- Support and Maintenance
The report has provided a detailed breakup and analysis of the visual analytics market based on the service. This includes managed and professional service (consulting services, deployment and integration, support and maintenance). According to the report, managed service represented the largest segment.
Deployment Mode Insights:
- On-premises
- Cloud-based
The report has provided a detailed breakup and analysis of the visual analytics market based on the deployment mode. This includes on-premises, and cloud-based. According to the report, on-premises represented the largest segment.
Enterprise Size Insights:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
The report has provided a detailed breakup and analysis of the visual analytics market based on the enterprise size. This includes large enterprises, small and medium-sized enterprises (SMEs). According to the report, large enterprises represented the largest segment.
Business Function Insights:
- Information Technology (IT)
- Sales and Marketing
- Supply Chain
- Finance
- Human Resources (HR)
- Others
The report has provided a detailed breakup and analysis of the visual analytics market based on the business function. This includes information technology (IT), sales and marketing, supply chain, finance, human resources (HR) and others. According to the report, supply chain represented the largest segment.
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
The report has provided a detailed breakup and analysis of the visual analytics market based on the industry vertical. This includes 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 and others. According to the report, BFSI represented the largest segment.
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
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); and Middle East and Africa. According to the report, North America was the largest market for visual analytics. Some of the factors driving the North America visual analytics market included extensive research and development (R&D) activities, various technological advancements, and widespread product adoption in drilling applications.
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
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Visual Analytics Market News:
- 14 October 2024: Presight and ISS, two premier AI-driven data and visual analytics companies, have extended their strategic international partnership through a commercial agreement. As part of this collaboration, ISS will implement the AI-driven data analytics solutions of Presight for its end users in North and Latin America. Similarly, Presight plans to deploy the SecurOS (r) video and sensor platform of ISS in its domestic and international operations in the UAE.
- 4 March 2024: Aimpoint Digital, a leading analytics and data engineering firm, has established a partnership with Sigma to revolutionize visual analytics solutions and application development. This collaboration aims to enhance the services provided by Aimpoint Digital.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | Billion USD |
| Components Covered | Software, Service |
| Services Covered |
|
| Deployment Modes Covered | On-premises, Cloud-based |
| Enterprise Sizes Covered | Large Enterprises, Small and Medium-sized Enterprises (SMEs) |
| Business Functions Covered | Information Technology (IT), Sales and Marketing, Supply Chain, Finance, Human Resources (HR), Others |
| Industry Verticals Covered | 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 |
| Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | 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. |
| Customization Scope | 10% Free Customization |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the visual analytics market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global visual analytics market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the visual analytics industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
The global visual analytics market was valued at USD 7.7 Billion in 2023.
We expect the global visual analytics market to exhibit a CAGR of 16.4% during 2024-2032.
The rising adoption of visual analytics across numerous industries, such as telecommunications, retail, healthcare, etc., as it aids in making large or complex data understandable and accessible for better data-driven decisions, is primarily driving the global visual analytics market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing demand for visual analytics solutions to predict consumer preferences, product development, marketing channels, etc., during the remote working scenario.
Based on the component, the global visual analytics market has been divided into software and service. Currently, service exhibits a clear dominance in the market.
Based on the service, the global visual analytics market can be bifurcated into managed service and professional service, where managed service accounts for the majority of the total market share.
Based on the deployment mode, the global visual analytics market has been segmented into on-premises and cloud-based. Currently, on-premises hold the largest market share.
Based on the enterprise size, the global visual analytics market can be divided into large enterprises and Small and Medium-sized Enterprises (SMEs), where large enterprises currently exhibit a clear dominance in the market.
Based on the business function, the global visual analytics market has been categorized into Information Technology (IT), sales and marketing, supply chain, finance, Human Resources (HR), and others. Currently, supply chain accounts for the majority of the global market share.
Based on the industry vertical, the global visual analytics market can be segregated into 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, and others. Among these, BFSI exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global visual analytics market 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.
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