The global visual analytics market is anticipated to grow at a CAGR of 20.4% during the forecast period. Visual analytics is a type of technology that helps businesses analyze large amounts of data using pictures and graphs. This technology is becoming more and more popular in the IT industry owing to the continuously rising amount of data generation by IT businesses, globally. By using visual analytics, businesses can make better decisions based on the data they have. As the amount of data grows, it becomes more difficult to extract insights and make decisions based on raw data alone. Visual analytics tools provide a way to explore and analyze data, making it easier for businesses to identify trends and patterns and make informed decisions quickly and easily.
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Another factor driving the growth of the visual analytics market is the increasing adoption of cloud computing. Cloud-based visual analytics tools provide businesses with a cost-effective and scalable solution for data analysis, making it easier for businesses of all sizes to take advantage of these powerful tools. For instance, in March 2023, TigerGraph launched the latest version (3.9) of TigerGraph Cloud software. The features of this software are enhanced data ingestion, enhanced graph data science package, and improved DevOps support among others.
There are many market players in the visual analytics market that provide software and services for visual analytics such as Microsoft Inc., Salesforce Inc. and 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 July 2021, Zoho Corp. pvt ltd launched a business intelligence (BI) platform with integrated AI. This platform enables organizations to collect data, analyze it, and gain insights using artificial intelligence (AI). AI provides businesses with innovative ways to boost performance by capturing user data that can help them make informed business decisions. For instance, in March 2020, the visual analytics tool Coupler.io was launched.Coupler.io is an easy-to-use data integration tool that automates integration workflows and allows users to base decisions on fresh data only. It supports over 30 essential business apps, including popular CRMs, accounting software, information technology, marketing, and time-tracking apps.
Global Visual Analytics Market Report Segment
By Component
- Software
- Service
o Profession Services
o Managed Service
By Application
- Supply Chain
- Sales and Marketing
- Finance
- Human Resources (HR)
- Others (Product Management, Shop Floor)
By Industry Vertical
- BFSI
- Manufacturing
- Healthcare
- Government
- Energy and Utilities
- Transportation
- Retail and E-commerce
- IT and Telecom
- Media and Entertainment
- Others (Travel and Hospitality, Education)
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Visual Analytics Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Adastra Corp.
- Alphabet Inc.
- Alteryx
- Belitsoft
- Beyond the Arc Inc.
- Domo Inc.
- Exadel Inc.
- First Line Software Inc.
- Future Processing Sp. z o.o.
- InData Labs
- Indium Software
- Innowise Group
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