According to a recently published report by Research Nester on “Visual analytics Market Outlook: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global visual analytics market in terms of market segmentation by component, deployment, end use industry, intended audience and region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
With the technological advancement, the data volume and movement both have amplified enormously. Thus, in last few decades there has been a boom in data analytics industry with companies coming up with new and more interactive solutions to cater diverse industrial needs. Amongst this, visual analytics is one the fastest growing trend in the advanced data analytics market. The enormous use of visual analytics by enterprises to take strategic business decisions is anticipated to boost the visual analytics market growth by a CAGR of around 22% during the forecast period. Visual analytics find an extensive use in various industries. For instance, visual analytics has made a mark in Traffic Modelling and Simulation where combination of interactive visual techniques and statistical computational methods coupled with machine learning is used to support data modelling and analysis of time series data.
The global visual analytics market is segmented by component, deployment, end use industry, intended audience. The end use industry is further segmented into IT, retail, BFSI, manufacturing, military & defense, transportation & logistics and others, out of which, the logistics and supply chain segment is expected to have leading shares on the back of huge investments in information technology to improve data quality and availability on the back of the fact that the supply chain intelligence provide demand patterns, quality and customer requirements from heterogeneous sources for demand driven planning.
On the basis of regional analysis, the Visual Analytics market is segmented into five major regions including North America, Europe, Asia Pacific, South America and Middle East & Africa region. North America is anticipated to hold the largest market share owing to technological developments and application of visual analytics in various industries. In Europe region, the market for visual analytics is anticipated to witness high growth rate on the back of the presence of huge demand for business intelligence technology aiming to improve the business productivity. In Asia-Pacific region, with the increasing investments in research and development, the use of visual analytics is increasing gradually.
Prevalence of recent advancements in technology
Advancement in data interactions and solutions will predominantly affect the visual analytics market on the back of the vendors' use of Apache open source technologies and SQL-on-Hadoop, in-memory computing, and in-database processing.
Prevalence of rise in demand
One of the major factors driving visual analytics market growth is the growing visual analytics tools demand among enterprises on the back of the ability of users to access, interpret, and analyze information.
Lack of Trained Human Resource is Anticipated to backlash the Market growth
Deficiency of trained personnel who are efficient in working with business intelligence tools coupled with errors associated with the visual analytics tools are anticipated to hinder the market growth.
This report also provides the existing competitive scenario of some of the key players of the global visual analytics market which includes company profiling of Tableau Software, SAP SE, Qlik Technologies, TIBCO Software, ADVIZOR Solutions Pvt. Ltd, SAS Institute, Oracle Corporation, MicroStrategy, IBM Corporation and Alteryx, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global visual analytics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.