The visual analytics market is expected to reach USD 12.38 Billion by 2026, according to a new report by Reports and Data. Visual Analytics is interpreted as the ability of analytical reasoning supported by interactive visual interfaces. It can be regarded as a merged approach incorporating human factors, data analysis, and visualization.
The interactive visual interface of data guarantees ease of decision making. The growing use of data-driven by visual analytics and massive demand for tools techniques essential for swift and accurate data analysis is also kindling the market growth. Another factor boosting the market growth is the comfort of generating comprehensive reports and interactive dashboards via high-level business intelligence tools. Visual analytics has reached a mark in traffic modeling and simulation where a combination of interactive visual methods and statistical, and computational methods linked with machine learning is applied to maintain data modeling and interpretation of time series data. It is also utilized in the evaluation, analysis, and forecast of traffic volumes based on GPS tracking.
The market in the APAC region is expected to witness the highest CAGR of 20.3% during the forecast period. The Asia-Pacific region is supposed to witness growth in the market with emerging countries like Singapore, China, Japan, and India that are investing in technology hugely coupled with the presence of several manufacturing enterprises which are further expected to expand the market growth. Additionally, the growing investments in research and development, and the application of visual analytics are rising gradually. Various companies in the region are in the process of executing visual analytics solutions already.
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The global Visual Analytics market research report covers study of competitive landscape, product analysis, application analysis, regional analysis, revenue assessment, cost structure analysis, and revenue forecast up to 2028. The report uses advanced analytical tools to research, gather, and analyze data. The in-depth research report has been formulated through extensive primary and secondary research and further corroborated from industry experts, professionals, and research analysts. The report covers a complete analysis of the Visual Analytics industry and offers the reader a competitive advantage to stay ahead of the other players.
Further key findings from the report suggest
- The Visual Analytics Market is estimated to reach USD 12.38 Billion by 2026, at a CAGR of 19.9% during the forecast period.
- The software component accounted for a larger share of 61.1% of the market in 2018.
- The cloud deployment is anticipated to grow at a higher rate of 20.4% during the forecast period.
- The transportation and logistics application segment is anticipated to grow at the highest rate of 20.1% during the forecast period.
- The Small Medium Enterprises (SMEs) organization is anticipated to grow at a higher rate of 20.0% during the forecast period.
- North America region accounted for the largest share of 31.3% of the market in 2018. The booming IT industry in the region and the emergence of IoT, cloud, and big data will generate further opportunities for visual analytics. Furthermore, Data accuracy has become the central focus of robust visual analytics due to which the market demand has grown significantly.
- Various players are developing strategies to mark their presence in the industry.
- Zoomdata, a visual analytics platform provider, joined the partnership with Teradata in September 2016. The partnership allows customers to leverage a shared Teradata environment with a single, centralized visual analytics front end.
- The Key players in the Visual Analytics Market include Microsoft Corporation, Oracle Corporation, Qilik, Alteryx, SAP SE, IBM, Tableau Software, TIBCO Software, Microstrategy, SAS Institute
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The report offers a comprehensive analysis of the key geographical regions to provide insights into key factors influencing market growth in the regions. Production and consumption ratio, import/export analysis, supply and demand, consumer behavior and demands, current and emerging trends, regulatory framework, strategic alliances, technological advancements, economic growth, and robust presence of key players in each region. The report also covers an extensive country-wise analysis to provide better understanding of the market growth in each key region of the world and help investors, stakeholders, and clients to capitalize on lucrative growth opportunities.
Regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific(India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America(Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa(Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Visual Analytics Market Segmentation:
Deployment Outlook (Revenue, USD Million; 2016-2026)
- On-Premise
- Cloud
Component Outlook (Revenue, USD Million; 2016-2026)
- Software
- Services
Application Outlook (Revenue, USD Million; 2016-2026)
- BFSI
- Transportation and logistics
- IT Telecommunications
- Retail and Consumer goods
- Others
Function Outlook (Revenue, USD Million; 2016-2026)
- IT
- Sales and marketing
- Supply chain
- Finance
- HR
- Others
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