Yahoo Finance Visual Analytics Market to hit $5.71Bn by 2025 - Premium Study by The Insight Partners
The visual analytics market was valued at US$ 2.21 billion in 2017 and is projected to reach US$ 5.71 billion by 2025, it is expected to grow at a CAGR of 12.8% during the forecast period of 2017 to 2025.
New York, June 29, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Visual Analytics Market to 2025 - Global Analysis and Forecasts by Deployment Model (On-Premises and Cloud); Business 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)” The global visual analytics market growth is driven by prevalence of AI and machine learning globally and growth in cloud based business operations.
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Market Size Value in | US$ 2.21 Billion in 2017 |
Market Size Value by | US$ 5.71 Billion by 2025 |
Growth rate | CAGR of 12.8% from 2017-2025 |
Forecast Period | 2017-2025 |
Base Year | 2017 |
No. of Pages | 154 |
No. Tables | 17 |
No. of Charts & Figures | 82 |
Historical data available | Yes |
Segments covered | Deployment Model; Business Function; Vertical |
Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
A visual analytics software enables a business user to gain a more personalized experience with the data. Exploding data volumes compel the users to deep-dive into such data sets and further discover more insights related to their particular domain. A holistic improvement can be achieved through the use of visual analytics as it brings about improvements in business strategies, operations, processes, and customer engagement platforms. Easier data exploration, increased depth, and frequency of the data analysis are achieved with the help of visual analytics. The advent of visual analytics has had a certain impact on the various business functions in any industry vertical that includes information technology, finance, sales & marketing, human resources, supply chain management, and other small business functions. The IT department is the foremost vertical that has a direct interface between the human user and the data. For the IT team to know about the demands of the device users, network management, health monitoring and remote monitoring of the devices require a proper analytics software that could help them in presenting the data generated. Another critical domain where the use of visual analytics elicits improved actionable insights and formulation of strategies is the sales & marketing as well as the supply chain domains. Business experts today believe that marketing is the prime requirement for any product based enterprise. The better the marketing of the product, the better is the customer response received. Gaining deep consumer behavioral insights can help the sales & marketing domains to better project the products looking into various regional as well as cultural demographics.
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A paradigm shift in the business approaches has led to rising demands for the integration of various analytics software in the business processes by various industry verticals, across the globe and in particular in the advanced regions. The business users today have taken leaps from the conventional data management, processing and analyzing techniques. Different business functions in a particular sector require data to be analyzed for various purposes. Conventional methods where spreadsheets were produced to arrange and store data prove to be inefficient in handling a splurge of data over the internet and various other streams. Also, spreadsheet tools lack a proper analyzing capability which is more than a mandate in today’s business requirements, in order to gain a proper insight of the market from the collected data. A raw and unstructured data needs to be arranged properly and presented properly in order to elicit effective actionable insight. Visual analytics come into play at such critical junctures for the different business functions. Each and every business function in any industry are largely different from each other but require almost the same data for their operations.
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Some of the remarkable partnership and collaboration in this industry are partnership of Tableau Software with Swinburne University for launching a course related to data visualization and business analytics. Through this partnership the university enhance the digital literacy of students and thus, successfully reducing the analytics skills gap by promoting analytics technology. Furthermore, TIBCO announced its partnership with TXODDS, to have provision of TIBCO Spotfire data visualization software for simple and fast analysis of gambling data.
The global Visual Analytics market by geography is segmented into six region 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 being two key countries in Europe region which will lead Visual analytics market in this region and is also expected to continue its dominance throughout the forecast period from 2016 to 2025. The report profiles 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 among others.
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Key trend which will predominantly effect the visual analytics market in coming year is advancements in "fast" data interaction provided through 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 into Hadoop clusters, not just traditional data warehouses. These technologies will enable users of BI and visual analytics applications to tap Hadoop data lakes and data hubs for daily, operational requirements rather than having to wait for batch-oriented cycles to finish. The visual analytics market is projected to witness continued technology developments in this area for the coming years.
Visual analytics market by vertical is segmented into Retail & Consumer Goods, IT & Telecom, BFSI, Manufacturing, Energy & Utilities, Healthcare, Government and others (Defense, Logistics, Entertainment, Education, Life Sciences, and Hospitality). A visual analytics software enables a business user to gain a more personalized experience with the data. Exploding data volumes compel the users to deep-dive into such data sets and further discover more insights related to their particular domain. The advent of visual analytics has had a certain impact on the various business functions in any industry vertical. The IT department is the foremost vertical that has a direct interface between the human user and the data.
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