Advanced Visualization Market to Reach $6.09B by 2028: AI Automation and IoT Integration Fuel Growth

The advanced visualization market size has grown rapidly in recent years. It will grow from $3.19 billion in 2023 to $3.62 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to emergence of big data, interdisciplinary collaboration, integration of virtual reality (VR) and augmented reality (AR), and demand for precision and accuracy.

The advanced visualization market size is expected to see rapid growth in the next few years. It will grow to $6.09 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to advancements in real-time visualization, expansion of cloud-based solutions, enhanced user experience design, regulatory compliance and data security, and increase of integration with internet of things (IoT) devices. Major trends in the forecast period include AI-driven visualization automation, personalized and adaptive visualization, data ethics and responsible visualization, decentralized and federated visualization, and integrated collaboration platforms.

Market Overview -
Advanced visualization refers to the utilization of sophisticated software and hardware technologies to create highly detailed and interactive visual representations of complex data, enabling deeper insights and enhanced decision-making across various domains.

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Expanding Role Of Telehealth Medicine Driving Growth In Advanced Visualization Market
The expansion of telehealth medicine is expected to propel the growth of the advanced visualization market going forward. Telehealth medicine refers to the remote delivery of healthcare services using telecommunications technology. The expansion of telehealth is due to increased accessibility, convenience, cost savings, public health concerns, and supportive government policies. Advanced visualization tools enable healthcare providers to engage patients by visualizing and explaining medical conditions, treatment options, and prognosis using interactive 3D models, videos, and graphics. This expands the reach and effectiveness of telehealth medicine by enabling remote diagnosis, and access to specialized care, ultimately improving healthcare outcomes for patients regardless of their location. For instance, in February 2023, according to a report by Rock Health, a US-based healthcare funding company, the prevalence of telemedicine utilization has seen a notable rise, with 80% of surveyed individuals having availed themselves of telemedicine services at least once, marking an increase of 8% from the 72% reported in 2021. Therefore, the expansion of telehealth medicine is driving the growth of the advanced visualization market.

Competitive Landscape -
Major companies operating in the advanced visualization market are Siemens Aktiengesellschaft, General Electric Company, Canon Inc., Toshiba Corporation, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Hologic Inc., Esaote S.p.A., Agfa-Gevaert N.V., Carestream Health, Brainlab AG, Domo Inc., Materialise NV, Intelerad Medical Systems, Pro Medicus Limited, Terarecon Inc., Zigron Inc., Visage Imaging Inc., Pie Medical Imaging B.V., Ziosoft Inc., Tetracam Inc., Three Palm Software LLC, Seeq Corporation, QI Imaging LLC, Intrasense SA

Advanced Data Visualization Enhancing Decision-Making And Stakeholder Engagement
Major companies operating in the advanced visualization market are focusing on innovative solutions, such as the studio canvas, an advanced data visualization to enhance diagnostic capabilities and improve patient outcomes. Studio canvas is an advanced data visualization and storytelling solution that enhances data comprehension, facilitating insightful analysis and informed decision-making for businesses across diverse sectors. For instance, in May 2023, Forsta, a UK-based provider of customer experience (CX), and employee experience (EX) technology, launched the studio canvas, an advanced data visualization and storytelling solution for enterprises integrated within the Forsta Human Experience (HX) Platform. This self-serve offering enables CX and EX professionals to create dynamic representations of data, combining relevant data with easy-to-understand imagery to illustrate customer and employee journeys. It allows users to bring raw data to life through visually appealing reports that go beyond traditional graphs and tables, making insights compelling, contextual, and easily shareable across organizations in real-time. This tool empowers CX professionals to create high-quality data visualizations that drive collective ownership of CX improvement within the entire enterprise.

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Key Segments -
The advanced visualization market covered in this report is segmented -
1) By Product And Service: Hardware, Software, Services
2) By Imaging Modality: Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Ultrasound, Nuclear Medicine, Other Imaging Modalities
3) By Clinical Application: Radiology Or Interventional Radiology, Cardiology, Orthopedics, Oncology, Vascular, Neurology, Other Clinical Applications
4) By End-User: Hospitals, And Surgical Centers, Imaging Centers, Academic And Research Centers, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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