Report : 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)
According to the new research report published by The Insight Partners, titled “Visual Analytics - Global Analysis and Forecast to 2025”, the global visual analytics market is expected to reach US$ 5,718.6 Mn in 2025, registering a CAGR of 12.8% during the forecast period 2018-2025.
In 2017, North America accounted for the largest revenue share of more than one-third of the total market share, followed by Europe.
Asia Pacific is considered as the growth engine of the global economy with countries like China, India, Japan, Singapore, and others. The region has become a global manufacturing hub with the presence of diverse manufacturing industries. The growth of visual analytics market in the Asia Pacific region is highly attributed to the fast adoption of advanced technologies and favorable government policies.
Visual representation of data has now become an integral fragment of Big Data analytics as well as several other data-driven analytics. Visual representation of data facilitates effortless data analytics by adding an extra dimension to the understanding of the users. Some of the key influencers that are propelling the adoption of visual analytics in the industries include its ability to enable our brains to assimilate and understand the massive amount of data and also develop interactive reports.
The market for visual analytics has been segmented on the basis of deployment model, business functions, tools, and the industry verticals. Enterprises prefer both cloud as well as on-premise mode of deployment depending upon various factors. The demand for cloud-based visual analytics is preferred as the best deployment type by many SMEs as it comes at inexpensive rates. Security and data integrity concerns drive the larger enterprises to spend more on the visual analytics on-premise deployment model. For the year 2017, sales and marketing business function held the highest market share. Sales & marketing sector serves as an excellent opportunity for visual analytics. Visual analytics allows companies to gain an immediate edge over the competition, which can be further optimized over time with new and additional data, creating a sustainable benefit optimized business with increased revenues, lower expenses, and higher margins.
Key findings of the study:
North America is anticipated to account the largest visual analytics market share and would register a CAGR of 13.1% in the forecast period of 2018 to 2025.
North America and Europe cumulatively account for more than 50% of the global Visual Analytics market. The dominance of these regions in the market is attributed to the massive flow of investment and capitalization going into technology updation, maintenance and new development of industries, which is the major application of visual analytics. The unprecedented growth in China and India is expected to drive the overall APAC Visual Analytics market in the coming years.
The key companies profiled in this report include Tableau Software, SAP SE, Qlik Technologies, TIBCO Software, ADVIZOR Solutions Pvt. Ltd, SAS Institute, Oracle Corporation, MicroStrategy, IBM Corporation, Alteryx, Inc. among others.
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