Visual Analytics Market Size, Share, Growth Analysis, By Component (Software, Services), By Business Function (Information Technology, Finance), 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

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).

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. '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'

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.

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 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.