The global market for visual analytics, which was valued at US$ 7,059.8 million in 2022, is anticipated to grow at a CAGR of 20.4% from 2022 to 2032 and reach US$ 45,162.1 million by that time.
Large end users who have made significant investments in AA tools and infrastructure have dominated the global digital economy. The size of the visual analytics market is expected to grow as a result. However, a lack of integration with legacy systems is predicted to cause the visual analytics market to slow down.
In contrast, it is anticipated that the storing and handling of data from various connected transportation devices and logistics record systems, which are used across transportation and logistics businesses and are rapidly increasing the requirement, will significantly create lucrative opportunities for the market.
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Visual Analytics Market: Drivers and Challenges
The major factor driving the adoption of visual analytics is the growing demand for analytics tools among enterprises and increased usage of visually driven data. Visually driven data allow users to view, interpret, and analyze information quickly. Also, with the help of visual analytics users can create their reports and dashboards with the help of visualization tools such as charts, graphs, pivot tables widgets and others.
These tools help in defining data in easy and interpretable terms. By investing in a visual analytics tool, these organizations can be sure that they are taking a step in the right direction by empowering users, increasing productivity, and positively impacting the business at large.
The key challenge restraining the market for visual analytics market is the lack of trained personnel who can work on advanced business intelligence tools. Moreover, one cannot completely rely on visual analytics tools as these tools can also have errors. So it can be risky, if the results from these tools are not checked and verified properly. Other challenges are lack of proper governance and data inconsistency.
Key Players
- Qlik
- Tableau
- SAS Institute
- I-Net software
- IBM
- Oracle
- SAP SE
- Zoomdata
- Microsoft Corporation
- MicroStrategy
- TIBCO Software
- Alteryx
- Verint Systems
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Regional Overview
North America is holding the largest market share currently for visual Analytics market due to the convergence of IoT, cloud, and big data will create new opportunities for visual analytics. Moreover, Data accuracy has become the main focus of valid visual analytics due to which the market demand for visual analytics has increased significantly.
In Europe region, the market for visual Analytics is witnessing high growth rate due to presence of large number of companies that are using business intelligence technology for improving their business productivity. In APAC also with the rising investments in research and development, the implementation of visual Analytics is increasing progressively.
Key Segments Profiled in the Visual Analytics Market
By Type:
- Cloud
- On-Premises
By End User:
- BFSI
- Healthcare
- IT & Telecom
- Retail & Consumer Goods
- Education
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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