Visual Analytics Market Size, Share, Industrial Growth Status and Global Outlook to 2027

Research Reports

May 27, 2022

Market Overview

Visual analytics allows business people without data science or analytical expertise to access and evaluate business data to provide visual insights. The visual analytics market is predicted to develop at a Compound Annual Growth Rate (CAGR) of 20.4 percent from USD 2.26 billion in 2016 to USD 6.51 billion by 2022. The base year is 2016, and the projection period is from 2017 to 2022.

Visual analysis is the method of using graphics to explore data and uncover hidden insights. Experts, as well as non-experts alike, can use visual analysis to completely comprehend and minimize ambiguity in complex data, support decisions, find trends and patterns, and display massive datasets. Visual analytics market is a collaborative method that uses visualizations to evaluate huge data. It involves both human and computer engagement.

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Market Segmentation

The market is divided into Cloud and On-premises segments based on type.

On-premises:

On-premises visual analytics could be used for data visualization as well as business intelligence. This software also allows users to access many kinds of data through its Cloud systems.

Cloud:

A cloud is a collection of Internet-based applications and services. Users can access cloud-based software like database management systems and web hosting services without having to install it locally. Within moments, users have to access these materials from just about any device connected to the internet.

The market is divided into Telecom and IT, Government as well as Defense, Manufacturing, Energy and Utilities, and Others based on application.

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Telecommunications and information technology:

The telecom and IT industries employ visual analytics market to evaluate network service quality as well as handle video content on mobile devices. By giving enterprises images of their data center activities across time, the visual tools assist them to serve experience customers. Visual Analytics is useful for analyzing data sets that are too huge or complicated to be analyzed using standard approaches.

Manufacturing:

In manufacturing, visual analytics market is growing and being utilized to plan, create, and assess goods. It aids manufacturers in understanding the interaction between various elements of a product to acquire insights about their product mix.

Government and Defense:

Visual Analytics assists the government and defense sector in dealing with large amounts of high-dimensional information from many sources to better understand the business environment.

Energy and Utilities:

Visual analytics market is widely used in the energy as well as utility industries. Visualization aids in the analysis of facts from several viewpoints for better decision-making.

Regional Classification

Because of technology breakthroughs and early acceptance of analytical solutions, North America leads the worldwide visual analytics industry. In the visual analytics industry, Asia Pacific is ranked second. The key drivers of market expansion include growing technological usage and vast prospects across sectors in APAC countries, particularly in India, Japan, as well as China.

Industry News

Factors like an increase in the number of data breaches as well as cyber-attacks, increased adoption of virtualization technologies, as well as the increasing need for visualization solutions across several industrial verticals are projected to drive the worldwide visual analytics market. Because of the high digitization rate and availability of modern technology infrastructure, particularly in developing nations like Canada, the North American area is an exception to leading this market with the largest share over the projection period. Furthermore, some companies are investing heavily in cybersecurity, which will help to expand business potential.

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