PUBLISHER: IMARC | PRODUCT CODE: 1635843
PUBLISHER: IMARC | PRODUCT CODE: 1635843
The global visual analytics market size reached USD 9.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 35.0 Billion by 2033, exhibiting a growth rate (CAGR) of 15.56% during 2025-2033. The widespread product adoption in the power generation industry, extensive research and development (R&D) activities, and the increasing product demand in the marine industry represent some of the key factors driving the market.
Visual analytics refers to a field of study that uses various tools and processes to analyze datasets using graphical representations of the data. It combines automatic and visual analysis methods with human interactive exploration. It is widely used in applications that require a high level of monitoring and engagement, such as complicated and huge data sets and analytical procedures. Visual analytics assists in making large or complex data understandable and accessible and helping organizations make better data-driven decisions. It visualizes data through graphs, charts, and maps that help in identifying patterns and thereby developing actionable insights. As a result, it finds extensive applications across various industries, including telecommunication, retail, healthcare, manufacturing, and media.
The increasing demand for visual analytics in the banking, financial services, and insurance (BFSI) industry across the globe is creating a positive outlook for the market. In line with this, the rising need to simplify the workload related to security and the increasing dependence on data generated from various information technology (IT) systems for financial transactions is favoring the market growth. Moreover, the escalating need for data-driven decision-making that eases the overall decision making process and reasoning from enormous data sets is acting growth-inducing factor. Apart from this, the integration of artificial intelligence (AI), cloud computing, and virtual reality (VR) solutions that offer predictions about consumer preferences, product development, and marketing channels is providing an impetus to the market growth. Additionally, the increasing demand for advanced visualization technology by enterprises and the growing demand for analytical tools are propelling the market growth. Furthermore, the rising demand for visual analytics from medium and large-scale enterprises for simplified data projection on various systems, such as desktops and smartphones, is positively influencing the market growth. Besides this, the increasing utilization of visual analytics in the healthcare industry that assists in exploring, analyzing, and communicating complex healthcare data and improving decision-making is driving the market growth. Other factors, including the rising adoption of cloud technology, significant improvements in the IT infrastructure, extensive research and development (R&D) activities, and the implementation of various government initiatives to encourage digitization and enhance data-driven decision-making, are supporting the market growth.
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