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Visual Analytics Market Expected to Grow with Boom in Artificial Intelligence with a Notable CAGR of 22% by the end of 2027

Research Nester has evaluated the current market opportunities in “Visual Analytics Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the visual analytics market in terms of market segmentation by component, by deployment, by end use industry, by intended audience and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The global visual analytics market is segmented on the basis of component, deployment, end use industry and region. On the basis of end use industry, the market is further bifurcated into IT, retail, BFSI, manufacturing, military & defense, and transportation. The market is further segmented by component into software and services; by deployment into on-demand, on-premise and finally, on the basis of intended audience, the market is divided into OEMs, system integrators, research, government, private equity groups and others.

The visual analytics market is anticipated to record a CAGR of around 22% during the forecast period i.e. 2019-2027 owing to worldwide attempt by various government agencies to standardize the data security protocols. The field of logistics and supply chain is anticipated to invest highly in information technology to improve data quality and availability on the back of the fact that the supply chain intelligence provide demand patterns, quality and customer requirements from numerous sources for demand driven planning. Additionally, growing necessity for real-time data management coming from various logistics operations and rising adoption of cloud technology for visual analytics is positively impacting the growth of the market.

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Regionally, the market in North America is anticipated to hold the largest market share owing to rising technological developments and applications of visual analytics in various industries coupled with merging of IoT, big data and cloud technology. The Europe market for visual analytics is anticipated to witness high growth rate on the back of growing demand for business intelligence technology in order to enhance the business productivity. The presence of diverse manufacturing industries coupled with huge investments by developing countries like Japan, Singapore, China and India in technology is estimated to boost the growth of the market in Asia Pacific region.

Growing Technological Advancements

Recent technological advancements leading to the adoption of Apache open source technologies and SQL-on-Hadoop, in-memory computing, and in-database processing coupled with continuous updating analytics facilities are anticipated to hone the market growth. Additionally, rising demand for visual analytics tools among various enterprises to access, interpret, and analyze information is estimated to boost the market revenue in upcoming years.

However, lack of trained professionals who are efficient in working with business intelligence tools is expected to operate as a key restraint to the growth of visual analytics market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the visual analytics market which includes company profiling of Tableau Software,SAP SE, Qlik Technologies, TIBCO Software, ADVIZOR Solutions Pvt. Ltd., SAS Institute, Oracle Corporation, MicroStrategy, IBM Corporation, Alteryx, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the visual analytics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

About Research Nester

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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