USD 5.7 billion
Visual Analytics Market Size, Share, Growth Analysis, By Component(Software, Services (Professional Services (Deployment And Integration, Support And Maintenance, Consulting Services)), By Business Function(Information Technology, Finance,, Sales And Marketing), By Organization Size(Large Enterprises, Small And Medium-Sized Enterprises), By Deployment Mode(On-premises, On-Demand), By Industry(Banking, Financial Services, And Insurance, Telecom And IT), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45F2134 |
Region:
Global |
Published Date: November, 2024
Pages:
197
|Tables:
92
|Figures:
76
Visual Analytics Market Insights
Global Visual Analytics Market size was valued at USD 7.58 billion in 2022 and is poised to grow from USD 8.81 billion in 2023 to USD 29.29 billion by 2031, growing at a CAGR of 16.21% during the forecast period (2024-2031).
In recent years, The Visual Analytics business worldwide has experienced change in consumer’s choices and needs with the high demand of sophisticated visualization products in different sectors. This is an approach referred to as visual analytics whereby organisations are assisted to come up with ideas from complicated sets of data, including some interactive graphics and analytical processes. Due to increasing volumes of business data, there is an urgent demand for interpretation tools or devices that relay information meaningfully. Organizations, through visual analytic platforms, can comprehend their complicated data sets via an easily understandable, pictorial way.
Moreover, there have been continuous developments in technology such as integrating Artificial Intelligence and Machine Learning with Visual Analytics Tools. It, therefore, provides an opportunity to do much better prediction of information through advanced data analysis. Nonetheless there are some concerns on the growing amount of sensitive data that is now to be visualized. Concerns about privacy have also forced vendors of the visual analytics market to develop robust security features.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Healthcare
Fastest Growth
Retail
Growth Rate
12.80% CAGR
Global Visual Analytics Market ($ Bn)
Country Share for North America Region (%)
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Visual Analytics Market Segmental Analysis
Global Visual Analytics Market is segmented by Component, Business Function, Organization Size, Deployment Mode, Industry, and Region. Based on Component, the market is segmented into Software, Services (Professional Services (Deployment And Integration, Support And Maintenance, Consulting Services), Managed Services). Based on Business Function, the market is segmented into Information Technology, Finance, Sales And Marketing, Human Resources, Supply Chain, Others. Based on Organization Size, the market is segmented into Large Enterprises, Small And Medium-Sized Enterprises. Based on Deployment Mode, the market is segmented into On-premises, On-Demand. Based on Industry, the market is segmented into Banking, Financial Services, And Insurance, Telecom And IT, Retail And Consumer Goods, Healthcare And Life Sciences, Manufacturing, Government And Defense, Energy And Utilities, Transportation And Logistics, Media And Entertainment, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by End-use
The healthcare industry has largely relied on these applications to make data-driven decisions that range from patient care optimization to operational efficiency. Visual analytics help health care workers diagnose various conditions by reading images of data taken medically. Adoption of Visual Analytics for improved compliances and standardized reporting is motivated by regulatory requirements within the healthcare environment.
Retail should be the fastest-growing segment as retailers deploy visual analytics to understand consumer behavior, preferences, and purchase patterns in order to enhance the customer experience. Visual analytics assists in keeping the right levels of inventories, preventing stock out occurrences, and enhances efficiency of the supply chain. The need for visual analytics solutions is growing faster as retailers learn that relying on data driven decision making gives them a competitive advantage.
Analysis by Platform
For a very long time now, cloud-based platforms have been the leaders in the global Visual Analytics market by offering scalable solutions that enable the organization to be flexible enough when it comes to accommodating changing needs. By providing easy access to visual analytics tools, cloud platforms ensure collaboration of distant participants as well as accommodate remote work tendencies. Third, C) the cloud solutions normally entails lesser initial capital expenditures and recurring expense in comparison with the on premise counterpart.
Visual analytics has been described as the fastest growing segment of the integrated analytics platforms market because visualization helps firms take an aggregate view of information and thus achieve an all round response. Machine learning and artificial intelligence are among the advanced functionalities that tend to be incorporated into integration, with a view to improving analysis of the platform. The integrated platforms facilitate workflow consolidation in a unified platform through data preparation, analysis, and visual representation.
Global Visual Analytics Market By End use
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Visual Analytics Market Regional Insights
Visual analytics has always had a strong presence in North America where it is a highly mature market with sophisticated technology users. As such, the area has a strong information technology set-up that readily supports the incorporation of visual analytics programs. The field of visual analytics has numerous applications in healthcare, finance, and technology sectors that are spread across North America.
With an emphasis on this Asia-pacific region experiencing fast economic growth, such technologies/data analytics investment is on the rise. With increasing digitisation in various sectors, Asia Pacific requires data mining solutions with the capability to provide useful findings from big volume data. The emerging business trends coupled with an awareness of the merits of visual analytics in countries like China and India provide a lucrative market for any competent organisation.
Global Visual Analytics Market By Region
- Largest
- Fastest
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Visual Analytics Market Dynamics
Drivers
Increasing Complexity of Data Generated by Businesses
- Complexity in business data produced that can be properly interpreted and communicated with sophisticated instruments. As such, the integration of interactive visualizations with analytics allows organizations to extract information out of complicated data sets thus driving smarter decisions. Demand surge for the Business Intelligence Solution is also a key determinant, as organizations finally understand that it takes visual analytics to make data-based decisions.
Restraints
High Concern Over Data Security
- The increasing worry about data safety remains one of the key market deterrents, especially in light of the increasing amount of private info involved. As a result, organizations struggle to build strong security elements into visual analytics platforms that can prevent any breakthroughs. Integration of such tools with already existing systems is another challenge because many firms find themselves unable to incorporate visual analytics without disturbing their well-established flows. Integration challenges can delay uptake with answers for easier implementation in different technological environments.
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Visual Analytics Market Competitive Landscape
The competitive environment of the Visual Analytics market is dynamic and there are several large companies that compete in the Visual Analytics industry, and each company is seeking innovative strategies and new ways it can outperform other businesses. In order to maintain competitive advantage, the market leader engages in continuous research and innovations efforts that result in better services which are provided to the customer. Companies in this competitive landscape often work together or partner. One reason for combining forces is to extend a company’s reach into the market. Another rationale stems from attempts at integrating a company’s visual analytic tools with complimentary technologies. Moreover, new entrants normally target narrow segments and special sectors so that they can develop custom-made products for particular business requirements.
Top Player’s Company Profiles
- IBM
- Oracle
- SAP
- SAS Institute
- Salesforce Inc
- Microsoft
- MicroStrategy
- Cloud Software Group
- Thoma Bravo (Qlik)
- Alteryx
- Domo
- Alphabet Inc.
- Zoho Analytics
- Sisense
- Yellowfin BI
- TARGIT
- Insightsoftware
- GoodData
- Hitachi
- ThoughtSpot
- Board International
- Panorama Software
- InetSoft
Recent Developments
- August 2023: springML, an AI-centric, cloud focused, data engineering and analytics services firm, announced today its merger with Egen. In terms of cloud migration, application modernisation and platform engineering Egen stands out as very good specialists.
- April 2023: It is reported that BigBear.ai bought over a competitor Pangiam in an all-stock deal amounting to $70 million and located in Maryland. By doing so, Pangiam’s knowledge on face recognition and different biometrics becomes combined with BigBear.ai computer vision which is aimed at satisfying customers and U.S. authorities.
Visual Analytics Key Market Trends
- Rising Integration of AI and ML Capabilities with Visual Analytics Tools: Incorporation of advanced visual analytics with Artificial Intelligence and Machine Learning abilities. The integration improves the platforms’ analytical abilities by helping refine the data analysis for pattern discovery, and model creation for predicting future events. Real time analyses is another major trend fueled by the requirement of organizations for making rapid evidence based management decisions. The visual analytics’ platforms are now designed in such a way that they offer instantaneous insights for immediate organizational response to dynamic market changes.
Visual Analytics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global Visual Analytics market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. In a nutshell, various trends as well as problems characterize global visual analytics market overview. This has been fuelled by increased need for sophisticated data interpretation units in varied sectors whose datasets have become too complex. Nonetheless, security issues and integration impediments present substantial obstacles. Due to product scalability and accessibility, cloud-based platforms are taking over dominance.
The area with a strong position in the market is a region of North America, which has been historically open for innovations. The most promising market is an Asia oceanic one, driven by economic growth rates there. The market is constantly evolving and some key trends that have emerged in recent times include the use of AI, real time analysis and user friendly interfaces.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.58 billion |
| Market size value in 2031 | USD 29.29 billion |
| Growth Rate | 16.21% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Visual Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Visual Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Visual Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Visual Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Visual Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Visual Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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