The visual data discovery global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Visual Data Discovery Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The visual data discovery market size has grown rapidly in recent years. It will grow from $10.61 billion in 2023 to $12.40 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to increasing demand for self-service analytics and business intelligence solutions, the growing need to discover sensitive structured and unstructured data, the rising need to access sensitive information and maximize business productivity, the expansion of visual data discovery tools, increased focus on data governance and compliance.
The visual data discovery market size is expected to see rapid growth in the next few years. It will grow to $23.53 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%. The growth in the forecast period can be attributed to the growing adoption of digital transformation initiatives, increasing demand to integrate data in business processes to derive actionable insights, increased demand for self-service visual analytics tools, the rise of cloud-based visual data discovery solutions, adoption of mobile-first design principles. Major trends in the forecast period include augmented reality (AR) integration, real-time data exploration, collaborative data exploration, integration with big data platforms, and industry-specific solutions.
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Scope Of Visual Data Discovery Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Visual Data Discovery Market Overview
Market Drivers –
The increased demand for visual analytics tools is expected to propel the growth of the visual data discovery market going forward. Visual analytics tools refer to software solutions that enable users to create interactive visual representations of data for analytical reasoning and decision-making purposes. The increase in visual analytics tools stems from the growing complexity of data, the demand for faster and more informed decision-making, and the desire to leverage data as a strategic asset for achieving business objectives. Visual analytics tools are used in visual data discovery to simplify complex data, aid decision-making, enhance collaboration, and enable the identification of patterns and trends within datasets. For instance, in May 2023, according to a report published by Datanami, a US-based news portal, the customers of Tableau, a powerful data visualization and business intelligence tool, were 126,000, an increase from 121,000 in 2021. Therefore, increased demand for self-service visual analytics tools is driving the growth of the visual data discovery market.
Market Trends –
Major companies operating in the trade finance market are focused on launching innovative technologies, such as digital trade finance solutions, to gain a competitive edge. A digital trade finance solution refers to the use of emerging technologies in trade finance, such as blockchain, artificial intelligence (AI), optical character recognition (OCR), and digital signatures, to enhance operational efficiency, reduce transaction costs, and address challenges within the trade finance industry. For instance, in September 2023, Hong Kong and Shanghai Banking Corporation Limited (HSBC), a UK-based commercial banking corporation, launched HSBC TradePay, a trade finance solution to provide businesses with a faster, simpler, and fully digital way to pay suppliers, improve working capital positions, and strengthen relationships with trading partners through efficient trade finance solutions. This innovative solution streamlines the loan drawdown process, simplifies supplier payments, and gives businesses complete control over when their trade payables arrive.
The visual data discovery market covered in this report is segmented –
1) By Component Type: Software, Service
2) By Deployment Type: Cloud, On-Premises
3) By Organization: Small And Medium Enterprise, Large Enterprise
4) By Application: Risk Management, Cost Optimization, Customer Experience Management, Supply Chain Management And Procurement, Social Network Analysis, Asset Management, Sales And Marketing Optimization
4) By End User: Banking, Financial Services And Insurance, Retail And Commerce, Automotive, IT And Telecommunication, Media And Entertainment, Government And Defense, Healthcare, Transportation And Logistics, Other End-Users
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Regional Insights –
North America was the largest region in the visual data discovery market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the visual data discovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the visual data discovery market are Amazon Web Services Inc., Google LLC, Microsoft Corporation, Intel Corporation, International Business Machine Corp., Oracle Corporation, SAP SE, Salesforce Inc., Thales Group, Workday Inc., SAS Institute Inc., Micro Focus International plc, Teradata Corporation, Fair Isaac Corporation, TIBCO Software LLC, Alteryx Inc., QlikTech Inc., Altair Engineering Inc., MicroStrategy Incorporated, Cloudera Inc., Spirion LLC, RapidMiner Inc., Datameer Inc., PKWARE Inc., Biomax Informatics AG, Megaputer Intelligence Inc., Angoss Software Corporation, BlueGranite Inc., ClearStory Data Inc.
Table of Contents
1. Executive Summary
2. Visual Data Discovery Market Report Structure
3. Visual Data Discovery Market Trends And Strategies
4. Visual Data Discovery Market – Macro Economic Scenario
5. Visual Data Discovery Market Size And Growth
…..
27. Visual Data Discovery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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