Visual Analytics Market Overview
Market Research Future
(MRFR), in its report on the Visual Analytics Market 2020, sheds
light on multiple factors that can influence the visual analytics market across
the review period. An additional report on the impact of COVID 19 pandemic on
the worldwide visual analytics market is provided. As per MRFR analysis, the
visual analytics market is expected to rise at 11% CAGR across the assessment
period 2017 to 2023.
Advancements in the field
of data analytics is observed to gain considerable traction, which can prompt
the expansion of the visual analytics market in the analysis period. The high
demand for various visual analytics tools, solutions, and techniques can cause
the expansion of the market in the near future. Thus, boosting the visual
analytics market growth through the review period. On the contrary, the visual
analytics market rise can be limited by lack of trained professionals and in
proper governance, followed by data inconsistency.
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Competitive Landscape
IBM Corporation (the U.S.),
SAP (Germany), Oracle (the U.S.), Tableau Software (the U.S.), SAS Institute
(the U.S.), Qlik (the U.S.), TIBCO Software (the U.S.), Microsoft (the U.S.),
MicroStrategy (the U.S.), and Alteryx (the U.S.) are some prominent names in
the visual analytics global market listed by MRFR.
Market Segmentation
The segment evaluation of
the global visual analytics market is done by industry, Component, and
deployment.
The component based
segments of the visual analytics market are software and services. The increase
in the use of visual analytics software and high demand for visual analytics
services can cause the market to surge in the years ahead. The service segment
is expected to generate considerable revenue for the market through the review
period.
Based on deployment, the
visual analytics market is segmented into on-cloud and on-premise. The high
rate of deployment of on-cloud visual analytics solutions can cause the market
to thrive the review period.
The industry based,
segments of the visual analytics market are BFSI, IT, retail, defense,
transportation, manufacturing, military, logistics, and others. The IT segment
can cause the global visual analytics market to generate considerable revenue
through the assessment period. The rise in need for visual analytics in the
booming IT sector can prompt the expansion of the visual analytics market
through the review period. The transportation and logistics industry can
contribute significantly to the expansion of the visual analytics market
through the assessment period. The increase in the adoption of advanced
analytical process can push the visual analytics market in the study period.
Regional Analysis
A surge in requirement for
visual analytics due to interactive feature of visual interface that ensures
simplification of tasks and able quick decision are major causes for the
expansion of the visual analytics market in North America. The presence of
numerous high tech companies and the booming IT sector is expected to impel the
expansion of the visual analytics market across the review period. In Europe,
the rise of the visual analytics market can be attributed to pen-up demand for
visual driven data enabled by visual analytics tools and techniques. APAC
visual analytics market can fuel the rise of the visual analytics market in the
assessment period. The fast paced rise of the IT sector can also underpin the
expansion of the APAC market.
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