Market Overview:
The Global Visual Analytics Market was valued at USD 6.5 billion in 2021, and is projected to reach USD 28.9 billion by 2032, growing at a CAGR of 16.2% from 2022 to 2032.
Visual analytics is a rapidly growing market that is expected to witness substantial growth in the coming years. This technology involves the use of interactive visual interfaces to help users explore and analyze complex data sets, enabling them to make more informed decisions. The healthcare sector is expected to be a significant contributor to the growth of the visual analytics market. The increasing adoption of electronic health records (EHRs) and the need for better patient outcomes are driving the demand for visual analytics in healthcare. Visual analytics is being used to analyze patient data, identify trends, and improve treatment outcomes. The retail sector is another area where visual analytics is being widely used. Retailers are using visual analytics to analyze customer behavior, identify patterns, and make informed decisions about product placement, pricing, and marketing. The adoption of visual analytics is also increasing in the government and public sector. Governments are using visual analytics to analyze social, economic, and environmental data, and make informed decisions about policy-making.
The increasing demand for data-driven decision-making and the rising adoption of big data analytics are the driving factors of the visual analytics market.
Visual analytics is a technology that helps users explore and analyze complex data sets using interactive visual interfaces. With the growing availability of big data and the increasing need for data-driven decision-making, the adoption of visual analytics is rapidly increasing across various industries. Visual analytics provides organizations with the ability to analyze vast amounts of data and identify patterns and trends that might not be apparent through traditional data analysis methods. The rising adoption of big data analytics is one of the driving factors of the visual analytics market. As organizations continue to generate vast amounts of data, they need to find ways to make sense of it and derive meaningful insights. Visual analytics helps organizations do just that by providing them with a way to visualize their data and gain a better understanding of its underlying patterns and relationships.
Segmentation:
By Deployment mode:
· Cloud-based
· On-premise
By Application:
· Customer Management
· Sales and Marketing Optimization
· Risk Management
· Fraud Detection
· Supply Chain Management
· Others
Geography:
North America is expected to dominate the visual analytics market due to the high adoption of big data analytics and the presence of major visual analytics vendors in the region. However, the Asia Pacific region is expected to witness significant growth in the coming years due to the increasing adoption of visual analytics in emerging economies such as China and India.
Impact of COVID-19 on the global Visual Analytics Market:
The COVID-19 pandemic has had a significant impact on the global economy, and the visual analytics market has not been immune to its effects. While the pandemic has caused some disruptions to the market, it has also led to increased demand for visual analytics solutions in certain industries. On the one hand, the pandemic has caused some disruptions to the visual analytics market due to the slowdown in economic activity and the disruption of supply chains. The pandemic has led to a decline in demand for some visual analytics solutions as businesses have scaled back operations and reduced spending on non-essential technology. On the other hand, the pandemic has also led to increased demand for visual analytics solutions in certain industries. For example, the healthcare industry has seen a surge in demand for visual analytics solutions as healthcare providers try to track and manage the spread of the virus. Visual analytics tools have also been used to analyze patient data and develop treatments and vaccines for COVID-19. The pandemic has also led to increased demand for visual analytics solutions in the e-commerce and retail industries. With more consumers shopping online, retailers are using visual analytics to analyze customer behavior and make informed decisions about product placement, pricing, and marketing. Overall, the COVID-19 pandemic has had a mixed impact on the visual analytics market. While it has caused some disruptions, it has also led to increased demand for visual analytics solutions in certain industries. As the world recovers from the pandemic, the visual analytics market is expected to continue growing as businesses seek to make data-driven decisions and gain insights into complex data sets.
Impact of the Russia-Ukraine War on the global Visual Analytics Market:
he ongoing conflict between Russia and Ukraine can have a potential impact on the visual analytics market, but it is difficult to predict the exact nature and extent of this impact. One potential impact of the conflict could be a disruption in the supply chain for visual analytics solutions. Many visual analytics solutions are developed and manufactured in countries that are not directly involved in the conflict, but supply chains can still be impacted by disruptions in neighboring countries. For example, if the conflict leads to the closure of major transportation routes or disruptions to manufacturing facilities, it could lead to delays in the delivery of visual analytics solutions. Another potential impact of the conflict could be changes in the regulatory environment that could impact the visual analytics market. The conflict could lead to changes in trade policies or restrictions on technology exports, which could impact the ability of visual analytics solution providers to do business in certain regions. Finally, the conflict could lead to changes in the demand for visual analytics solutions in certain industries. For example, if the conflict leads to a slowdown in economic activity in certain regions, it could lead to a decline in demand for visual analytics solutions in those regions. Overall, the impact of the conflict between Russia and Ukraine on the visual analytics market is uncertain and depends on a variety of factors. While the conflict could have some impact on the market, the extent of this impact is difficult to predict at this time.
Company Profiles:
· Tableau Software
· Qlik
· SAS Institute Inc.
· SAP SE
· IBM Corporation
· Oracle Corporation
· Microsoft Corporation
· TIBCO Software Inc.
· MicroStrategy Incorporated
· Alteryx, Inc.
· Sisense Inc.
· Zoho Corporation Pvt. Ltd.
· Domo, Inc.
· Looker Data Sciences, Inc.
· Yellowfin International Pty Ltd
Global Visual Analytics Market: Regional AnalysisWe Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
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An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
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The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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