Visual Analytics Market Size Worth $31.34 Billion By 2032 | CAGR: 18.2%

The global visual analytics market size is expected to reach USD 31.34 billion by 2032, according to a new study by Polaris Market Research. The report “Visual Analytics Market Share, Size, Trends, Industry Analysis Report, By Offering (Solution, Service); By Enterprise Size; By Deployment Model; By Application; By Industry Vertical; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Visual Analytics is extensive and encompasses a wide range of applications, industries, and technologies. Visual Analytics combines data visualization techniques with advanced analytics to help individuals and organizations gain insights from complex data sets. The core of the Visual Analytics market consists of data visualization tools and software that enable users to create interactive and informative visual representations of data. These tools range from basic charting software to sophisticated analytics platforms.

It plays a crucial role in the broader field of Business Intelligence. BI tools often incorporate visual analytics to help businesses make data-driven decisions, monitor key performance indicators, and track business performance.

Organizations prefer candidates with data literacy to their company. According to the Forrester Consulting Global Survey, 82% of business leaders expect all employees to be data literate by 2025, with 70% expecting to use data heavily by 2025 and 40% in 2018. It demonstrates the rising demand for data-driven decision-making in business operations. As there is a rising demand for data literacy, individuals are equipping themselves with visual analytics tools such as Tableau, Power BI, and more. Proficiency in data is helping students and employees gain employment in the corporate world. Training institutions also establish affordable courses to learn visual tools, which are essential in the data analysis process. These factors are all contributing to the growing demand for visual analytics tools.

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Growing business organizations towards the integration of data analytics into their businesses are creating new growth opportunities for visual analytics. Data analytics is the extraction of insights from raw and complex data sets. Visual analytics tools are used to derive insights from data and enable everyone in the organization to understand the patterns in the data. Visual insights make more sense in understanding business positions and problems in the form of storytelling, which is not possible with numerical. After the pandemic, business organizations are stepping into analytics for informed decision-making. According to one of the EY studies, 93% of organizations are willing to continue investing in data and analytics. It demonstrates the commitment of enterprises to data-informed decisions, driving the usage of visual analytics to analyze patterns in data effectively.

Visual Analytics Market Report Highlights

• In 2022, solution segment held the fastest market share, due to its advantage of enabling users to analyze data.
• In 2022, large enterprises segment held the largest market share owing to the rising demand for data-driven decision making.
• The cloud segment is expected to witness significant revenue share during the forecast period due to access to the tools from anywhere in the world.
• North America dominated the largest revenue share during the forecast period, owing to an increase in data analysis in the sales and marketing domain.
• The global players include Alteryx, IBM Cognos Analytics, Looker, Microsoft Power BI, MicroStrategy, Oracle, QlikTech, SAP Analytics Cloud, etc.

Polaris Market Research has segmented the visual analytics market report based on offering, enterprise size, deployment model, application, industry vertical and region:

Visual Analytics, Offering Outlook (Revenue - USD Billion, 2019 - 2032)

• Solution
• Service
  • Professional Service
  • Managed Service

Visual Analytics, Enterprise Size Outlook (Revenue - USD Billion, 2019 - 2032)

• Large Enterprises
• SMEs

Visual Analytics, Deployment Model (Revenue - USD Billion, 2019 - 2032)

• On-premises
• Cloud

Visual Analytics, Application (Revenue - USD Billion, 2019 - 2032)

• Supply Chain
• Sales and Marketing
• Finance
• Human Resource
• Others

Visual Analytics, Industry Vertical (Revenue - USD Billion, 2019 - 2032)

• BFSI
• Manufacturing
• Healthcare
• Government
• Energy & Utilities
• Transportation
• Retail & E-commerce
• IT & Telecom
• Education
• Media & Entertainment
• Others

Visual Analytics, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Visual Analytics Market Report Scope