Global Visual Analytics Market 2023-2030

Global Visual Analytics Market 2023-2030

Global Visual Analytics Market Size, Share & Trends Analysis Report by Component (Software and Services), by Application (Supply Chain, Sales and Marketing, Finance, Human Resources (HR), and Others), by Industry Vertical (BFSI, Manufacturing, Healthcare, Government, Energy and Utilities, Transportation, Retail and E-commerce, IT and Telecom, and Media and Entertainment, and Others), Forecast Period (2023-2030)

The global visual analytics market is anticipated to grow at a CAGR of 20.4% during the forecast period (2023-2030). Visual analytics analyzes data using visual representations such as graphs, charts, and maps to identify patterns and develop actionable insights. The key factor for market growth is the increasing volume and complexity of data, advancements in technology, and growing demand for real-time data analysis. As a result, market players are focusing on developing new software, which in turn will further propel market growth. For instance, in June 2022 Microsoft Inc. introduced the new version of Power BI (Business Intelligence) Desktop. The latest version provides various features including enhanced data modeling capabilities and improved performance, along with the ability to create paginated reports. Power BI Desktop allows users to build visuals and collections of visuals that can be shared as reports with other people inside their organization.

Segmental Outlook

The global visual analytics market is segmented on the component, application, and industry vertical. Based on the component type market is sub-segmented into software and services such as professional service and managed service. Based on application market is bifurcated into supply chain, sales and marketing, finance, human resources (HR), and others which includes product management and shop floor. Based on the industry vertical market is categorized into BFSI, manufacturing, healthcare, government, energy and utilities, transportation, retail, and e-commerce, IT and telecom, and media and entertainment, and Others (Travel and Hospitality, Education). Among the industry vertical, healthcare sub-segment is expected to hold a favorable share of the market. Visual analytics assist healthcare professionals to identify trends and patterns in data, highlighting geographical variations in care, and making inferences to improve patient outcomes, which is the key factor driving the segment growth.

The Education Sub-Segment is Anticipated to Hold a Considerable Share of the Global Visual Analytics Market

The education sub-segment is anticipated to hold a considerable share of the market. In the context of educational fundraising, visual analytics tools can help organizations to analyze their donor data. This helps fundraisers easily spot patterns and trends in donor behavior and identify opportunities for targeted outreach and engagement. Visual analytics tools can also provide insights into donor demographics, preferences, and giving histories, helping organizations tailor their fundraising strategies for maximum impact. By leveraging the power of visual analytics, educational fundraisers can make better-informed decisions and ultimately drive more successful fundraising campaigns. For instance, in March 2023, iWave Systems Technologies Pvt. Ltd. launched interactive dashboards and visual analytics for education. The aim is to help education organizations better understand their fundraising data and make informed decisions.

Regional Outlook

The global visual analytics market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, the Asia- Pacific region is expected to witness considerable growth in the market over the forecast period. The rising demand for visual analytics tools among enterprises to gain insights and the increasing adoption of advanced visualization tools such as Google Charts, Tableau, and power BI by enterprises is driving the growth of the region.

Global Visual Analytics Market Growth, by Region 2023-2030

Source: OMR Analysis

The North America Region is Expected to Hold a Prominent Share of the Global Visual Analytics Market

The North American region is expected to hold a prominent share of the market. One key factor driving this market growth includes the increasing volume of data generated by various industries, including finance, healthcare, and retail. According to a report by Coldwell Banker Richard Ellis (CBRE), the total capacity of the US primary data center markets grew by 352.9 megawatts (MW) or 10.5% in H1 2022. The country is expanding its capacity by more than 1600 MW, currently under construction. As a result, the primary US wholesale data center market recorded a combined 453.4 MW of net absorption in H1 2022, more than triple H1 2021’s level and almost 60% of it in Northern Virginia. The expanding data center market is increasing demand for effective data management and analysis solutions. This means that businesses need visual analytics tools that can help them derive insights from data and make data-driven decisions. Owing to these various market players in the US such as Tableau, Visual BI, and Microsoft others are adopting strategies such as acquisitions, partnerships, collaborations, funding, and new product launches to meet the growth of the market in North America. For instance,

In July 2021, Atos acquired Visual BI, a US-based firm that focuses exclusively on visual data analytics and business intelligence, to enhance its ability to address customers' increasing need for Business Intelligence (BI) and analytics in cloud environments. Atos aims to enhance its ability to address customers' increasing need for BI and analytics in cloud environments.

In April 2020, Census Day, and Tableau Software, together launched U.S. Census Bureau’s 2020 Response Rate Map, to enhance customer experience and data transparency regarding the census. Therefore, enterprises are enabling analytical tools to analyze data from multiple sources, which in turn is driving the growth of the market.

Market Players Outlook

The major companies serving the visual analytics market include Microsoft Corp., QlikTech International AB, SAP Group, Salesforce Inc., Zoho Corp. Pvt. Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2023, QuikTech acquired Talend. The aim of this acquisition is to provide Industry-leading solutions and applications integrated in real time. With provides analytics to uncover insights, data governance, data quality, and transformation with artificial intelligence and machine learning. Together, they offer a comprehensive and complementary set of capabilities for managing data.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global visual analytics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.