Industry Overview of Visual Analytics Market
Visual analytics is a discipline that utilizes a variety of tools and techniques to analyze datasets by presenting information in graphical form. It combines automated and human interactive exploration methods to make large or complex data more comprehensible and accessible. By visualizing data through graphs, charts, and maps, visual analytics helps identify patterns and generate actionable insights. This analysis is widely applied in various industries, including telecommunications, retail, healthcare, manufacturing, media, and more. Its goal is to support organizations in making informed data-driven decisions.
How Big Is the Visual Analytics Market?
The global visual analytics market size reached a value of US$ 6.5 Billion in 2022. It is projected to reach a value of US$ 18.4 Billion by 2028, exhibiting a CAGR of 17.8% during 2023-2028.
Global Industry Trends and Drivers:
The visual analytics market is experiencing significant growth, driven by the increasing demand for optical analysis in the banking, financial services, and insurance (BFSI) sector worldwide. The need to streamline security-related tasks and reliance on data generated from various IT systems for financial transactions are contributing to market expansion. Integration of artificial intelligence (AI), cloud computing, and virtual reality (VR) solutions, which provide predictive insights into consumer preferences, product development, and marketing channels, is also driving market growth.
Furthermore, medium and large-scale enterprises are widely adopting visual analytics to simplify data visualization on multiple platforms, including desktops and smartphones, thus fueling market growth. The healthcare sector is also embracing optical analysis to explore, analyze, and communicate complex healthcare data, leading to improved decision-making. The increasing utilization of cloud technology, advancements in IT infrastructure, ongoing research and development (R&D) initiatives, and government-led digitization efforts to enhance data-driven decision-making are expected to further propel the visual analytics market in the years to come.
Key Market Segmentation:
The report provides detailed segmentation of the global visual analytics market based on based on aircraft type, material, propulsion, end use and region.
Component Insights:
- Software
- Service
Service Insights:
- Managed Service
- Professional Service
- Consulting Services
- Deployment and Integration
- Support and Maintenance
Deployment Mode Insights:
- On-premises
- Cloud-based
Enterprise Size Insights:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Business Function Insights:
- Information Technology (IT)
- Sales and Marketing
- Supply Chain
- Finance
- Human Resources (HR)
- Others
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
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 provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are 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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