Visual Analytics Market to Expand from $6.5 Billion to $28.9 Billion by 2021-2031 | CAGR of 16.2%

WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 11, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Visual Analytics Market Size, Share, Competitive Landscape and Trend Analysis Report, by Offering, by Deployment Model, by Application, by Enterprise Size, by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2021-2031"

The global visual analytics market was valued at $6.5 billion in 2021, and is projected to reach $28.9 billion by 2031, growing at a CAGR of 16.2% from 2022 to 2031.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/A19673

The visual analytics market is driven by factors such as rise in among enterprises to access, interpret, and analyze information, and attempt of various government agencies to systematize the data security protocols. Furthermore, rise in adoption of advance visualization technology by enterprises and growing demand for analytical tools among enterprises are driving the growth of the visual analytics market. Moreover, rapid growth in volume and variety of business data are boosting the visual analytics market size. However, high cost of installation and security concern, lack of skilled professionals, and lack of awareness restrict the visual analytics market growth. On the contrary, increased usage of the internet of things (IoT) and the introduction of improved visual analytics is expected to offer remunerative opportunities for expansion during the visual analytics market forecast.

Depending on enterprise size, the large enterprise segment holds the largest visual analytics market share as it helps in maintaining functionalities and provides higher capital than SMEs. However, the SMEs segment is expected to witness growth at the highest rate during the forecast period as it allows SMEs access to advanced applications and data sources at a low cost.

Region-wise, the visual analytics market was dominated by North America in 2021 and is expected to retain its position during the forecast period owing to gain visual insights and make decisions to achieve the long-term objectives. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to presence of several industries, and the competitive dynamics with increasing adoption of technologies and government initiatives are propelling the growth of the market.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/visual-analytics-market/purchase-options

The COVID-19 pandemic is expected to positively impact the overall economy of the visual analytics, owing to surge in need for analyzing large and complex data sets of inquiry, monitoring, and interaction to reduce risks and costs related to frauds and achieve superior results. For instance, in April 2022, the U.S. Department of Energy (DOE) announced 26 million dollars for research to advance scientific data management and visualization. In addition, technologies such as power BI, MicroStrategy analytics, IoT, chatbots, and other voice assistants collate massive volume of data to generate significant insights, which can provide cost-saving opportunities, thus propelling the growth of the market. Moreover, investments in visual analytics are becoming popular day-by-day, owing to increase in attention toward data to help enterprises to find out the future performance of the firm to take corrective measures at an early stage in case of any probable crisis in future, which, in turn, is contributing toward the growth of the market. Furthermore, algorithms used for getting meaningful insights from real-time and historical data are helping business in handling various critical issues related to customer insights during COVID-19 pandemic, which is driving the growth of the visual analytics industry.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By application, the supply chain segment accounted for the largest visual analytics market share in 2021.

By region, North America generated highest revenue in 2021.

By industry vertical, the BFSI segment generated the highest revenue in 2021.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/A19673

The key players that operate in the visual analytics market analysis are Alteryx, Inc., DataDeck, Data Clarity, Geckoboard Software, IBM Corporation, Locii Solutions Ltd., Microsoft Corporation, MicroStrategy Incorporated, Nexidia Inc., Oracle Corporation, Orbital Insight, Qlik, SAP SE, SAS Institute Inc., Tableau Software Inc., TIBCO Software Inc., and Ubiq. These players have adopted various strategies to increase their market penetration and strengthen their position in the visual analytics industry.

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https://www.alliedmarketresearch.com/geomarketing-market-A09915

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https://www.alliedmarketresearch.com/rail-maintenance-management-system-market

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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