Press release
Key Trends Shaping the Future Visual Data Discovery Market From 2025-2034: Integration Of Biometric Identification In Visitor Management Systems
Visual Data Discovery Market Size
The boost in the need for visual analytics tools is anticipated to fuel the expansion of the visual data discovery market in the future. Visual analytics tools, which are software solutions that allow users to develop interactive visual illustrations of data for analytical thinking and decision-making, are increasingly in-demand. This surge in visual analytics tools originates from the escalating intricacy of data, the requirement for swifter and more informed decisions, and the aspiration to utilize data as a strategic resource for accomplishing business goals. These tools facilitate visual data discovery by simplifying complex data, supporting decision-making, improving collaboration, and assisting in identifying patterns and trends in data sets. For example, Datanami, a US news portal, reported in May 2023 that there were 126,000 customers of Tableau, a robust data visualization and business intelligence product, indicating a rise from 121,000 in 2021. Thus, the amplified demand for self-service visual analytics tools is propelling the growth of the visual data discovery market.
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What is the projected compound annual growth rate (CAGR) of the visual data discovery market from 2025 to 2034, and what factors influence it?
The market size of visual data discovery has seen a swift expansion in previous times. It is anticipated to escalate from $12.4 billion in 2024 to $14.59 billion in 2025, with a compound annual growth rate (CAGR) of 17.6%. This surge in the historical duration is due to an enhanced demand for self-service analytics and business intelligence solutions, an emerging need to find sensitive structured and unstructured data, an increasing necessity for accessing sensitive data and boosting business efficiency, the progression of visual data discovery instruments, and a heightened emphasis on data governance and compliance.
Predictions indicate rapid expansion of the visual data discovery market in the upcoming years, with an estimated value of $27.59 billion in 2029, reflecting a compound annual growth rate (CAGR) of 17.3%. The predicted growth during the forecast period could be due to factors like increased digital transformation initiatives, the rising need to merge data within business procedures for meaningful data extraction, a growing demand for user-friendly visual analytics tools, the emerging popularity of cloud-based visual data discovery options, and adherence to mobile-centric design principles. Looking ahead, the integration of augmented reality (AR), real-time data investigation, cooperative data exploration, harmonization with large data platforms and sector-specific solutions are foreseen as key trends in this forecast period.
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How are the latest trends influencing the growth of the visual data discovery market?
Top businesses in the visual data discovery market, such as Studio Canvas, are at the forefront of inventing cutting-edge technologies to produce top-tier and lively data visualizations. Studio Canvas is a sophisticated storytelling and data visualization solution incorporated into the Forsta Human Experience (HX) Platform. For example, Forsta Inc., a tech firm based in the US, unveiled Studio Canvas in May 2023. As a component of the Forsta Human Experience (HX) Platform, it provides customer experience (CX) specialists with the means to develop compelling visual narratives from data, which bolsters CX enhancement and collective ownership and promotes superior organizational alignment and decision-making. The solution lends CX and EX professionals the ability to generate vivid interpretations of their data, which contemporizes actionable intelligence and raises consciousness throughout their organization. This self-service commodity is aimed at enterprise CX and EX professionals, and it combines vital data with relatable and straightforward visuals, elucidating the experiences of their consumers and workers.
What are the major segments of the visual data discovery market and their role in driving growth?
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
5) 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
Subsegments:
1) By Software: Standalone Software, Integrated Software
2) By Service: Consulting, Integration And Deployment, Support And Maintenance
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North America was the largest region in the visual data discovery market in 2024. 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.
Who are the key firms paving the way for growth in the visual data discovery market?
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.
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What Is Covered In The Visual Data Discovery Global Market Report?
•Market Size Forecast: Examine the visual data discovery market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the visual data discovery market for a structured understanding.
•Key Players Overview: Analyze major players in the visual data discovery market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the visual data discovery market.
•Segment Contributions: Evaluate how different segments drive overall growth in the visual data discovery market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the visual data discovery market.
•Industry Challenges: Identify potential risks and obstacles affecting the visual data discovery market.
•Competitive Landscape: Review strategic developments in the visual data discovery market, including expansions, agreements, and new product launches.
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