New York, June 29, 2022 (GLOBE NEWSWIRE) — The Insight Partners has released the latest research study on “Visual Analytics Market through 2025 – Global analysis and forecasts by deployment model (on-premises and cloud); Commercial function (sales and marketing, operations, finance, supply chain, information technology, CRM and human resources); Vertical (Retail & Consumer Goods, IT & Telecom, BFSI, Manufacturing, Energy & Utilities, Healthcare, and Government) »
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|Market size Value in||US$2.21 billion in 2017|
|Market Size Value by||US$5.71 billion by 2025|
|Rate of growth||CAGR of 12.8% from 2017 to 2025|
|Year of reference||2017|
|Number of pages||154|
|Number of tables||17|
|Number of graphs and figures||82|
|Historical data available||Yes|
|Segments Covered||deployment model; Commercial function; Vertical|
|Regional scope||North America; Europe; Asia Pacific; Latin America; AEM|
|Country scope||United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report cover||Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends|
Visual analytics software allows a business user to gain a more personalized experience with data. The explosion of data volumes is forcing users to dig deeper into these datasets and discover more information related to their particular domain. Holistic improvement can be achieved through the use of visual analytics, as it drives improvements in business strategies, operations, processes, and customer engagement platforms. Easier data exploration, increased depth and frequency of data analysis are achieved using visual analytics. The advent of visual analytics has had some impact on the various business functions of any industry vertical, including information technology, finance, sales and marketing, human resources, chain management procurement and other small business functions. The IT department is the first vertical that has a direct interface between the human user and the data. For the IT team to know the demands of device users, network management, health monitoring, and remote monitoring of devices require proper analytics software that could help them present the generated data. Another critical area where the use of visual analytics helps improve actionable insights and strategy formulation is in sales and marketing as well as supply chain areas. Business experts today believe that marketing is the main requirement for any product-oriented business. The better the product is marketed, the better the customer response received. Obtaining in-depth insights into consumer behavior can help sales and marketing areas better project products by looking at various regional and cultural demographics.
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A paradigm shift in business approaches has resulted in an increasing demand for integration of various analytics software into business processes by various industry verticals, across the globe and especially in advanced regions. Today’s business users have made leaps and bounds from conventional data management, processing, and analysis techniques. Different business functions in a particular industry require data to be analyzed for different purposes. Conventional methods where spreadsheets have been produced to organize and store data are proving ineffective in managing a madness of data on the internet and various other streams. Moreover, spreadsheet tools lack proper analytical capability which is more than a mandate in today’s business requirements, in order to get a good idea of the market from the collected data. Raw, unstructured data must be organized and presented correctly in order to gain effective actionable insights. Visual analytics comes into play at such critical times for different business functions. Every business function in any industry is vastly different from each other, but requires almost the same data for its operations.
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Some of the notable partnerships and collaborations in this industry are Tableau Software’s partnership with Swinburne University to launch a course related to data visualization and business analytics. Through this partnership, the university improves students’ digital literacy and, as a result, succeeds in reducing the analytical skills gap by promoting analytical technology. Additionally, TIBCO announced its partnership with TXODDS, to provide TIBCO Spotfire data visualization software for quick and easy game data analysis.
The global visual analytics market by geography is segmented into six regions including North America, Europe, Asia-Pacific, Middle East & Africa and South America. North America is expected to account for the largest share of the global visual analytics market in 2016, followed by Europe. Germany and UK are two key countries in Europe region that will lead the visual analytics market in this region and are also expected to maintain their dominance throughout the forecast period of 2016 to 2025. The report presents key players such as Tableau Software, SAP SE, Qlik Technologies, TIBCO Software, ADVIZOR Solutions Pvt. Ltd., SAS Institute, Oracle Corporation, MicroStrategy and IBM Corporation among others.
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The major trend that will mainly affect the visual analytics market over the coming year is the improvement in “fast” data interaction provided by the vendors’ implementations of Apache open source technologies and frameworks for SQL -on-Hadoop, in-memory computing and in-database processing. Other recent advances include capabilities for continuously updating analytics and dashboards from data flowing through Hadoop clusters, not just traditional data warehouses. These technologies will allow users of BI and visual analytics applications to leverage Hadoop data lakes and data hubs for day-to-day operational needs rather than having to wait for batch-oriented cycles to complete. The visual analytics market is expected to witness continuous technological developments in this field over the coming years.
The visual analytics market by vertical is segmented into Retail & Consumer Goods, IT & Telecom, BFSI, Manufacturing, Energy & Utilities, Healthcare, Government & Others (Defense, Logistics, Entertainment, Education, Life Sciences living and hospitality). Visual analytics software allows a business user to gain a more personalized experience with data. The explosion of data volumes is forcing users to dig deeper into these datasets and discover more information related to their particular domain. The advent of visual analytics has had some impact on the various business functions of any industry vertical. The IT department is the first vertical that has a direct interface between the human user and the data.
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