Europe Visual Analytics Market to 2025 - Regional Analysis and Forecasts by Deployment Model (On-Premises and Cloud); Business Function (Sales and Marketing, Operations, Finance, Supply Chain, Information Technology, CRM, and Human Resources); Vertical (Retail & Consumer Goods, IT & Telecom, BFSI, Manufacturing, Energy & Utilities, Healthcare, and Government)
The Europe visual analytics market accounted for US$ 628.2 Mn in 2017 and is expected to grow at a CAGR of 10.9% over the forecast period 2018-2025, to account for US$ 1416.2 Mn in 2025. With the growing complexity of business processes, business intelligence is gaining popularity among SMEs. The visual analytics solutions increase the competitive power of the organization and provide a better understanding of the management of communication with customers and customer's need. The introduction of new computing and internet technologies has resulted in the collection of a large amount of data which is creating opportunities for Europe visual analytics market. One of the significant challenges faced by SMEs is the high price of enterprise solutions; however, with the advent of the cloud model, SMEs can achieve a high return on investments with limited spending. Various organizations provide visual analytics solutions that are capable of working on smaller datasets such as Tableau provides popular tools primarily for SMEs.
Additionally, the increasing number of SMEs is aiding the growing demand for visual analytics software in Europe. Therefore, factors such as gaining real-time insights, cost optimization, time-saving are the significant factors driving the adoption of visual analytics solutions in Europe. Thus, a high rate of adoption of visual analytics solutions by SMEs in Europe is creating opportunities for the Visual Analytics Market.
The Europe visual analytics market is fragmented with the presence of several industries, and the competitive dynamics in the market is expected to change during the upcoming years. Companies operating in the Europe visual analytics market are focused on providing advanced visual analytics solutions to gain a broader customer base and generate more revenues. The increasing penetration of the internet and a growing amount of data generated are the significant factors driving the growth of Europe visual analytics market.
The Europe visual analytics market by business function is segmented into cloud and Sales and marketing, operations, finance, supply chain, information technology, CRM, human resources, and others. Visual analytics in the supply chain is considered to be a critically evolutionary step. The technology is expected to enable the industry to spend lesser time on repetitive processes, such as planning, monitoring and coordinating, and instead focus upon innovation and growth of the industry. Furthermore, the integration of artificial intelligence in supply chains is projected to result in procreating an ecosystem where supply chains would be able to connect themselves and encourage the flawless flow of products and information, in a way contributing to the visual analytics market. With the growing trend toward digitization in the supply chain, visual analytics is anticipated to be the next arena where companies would foresee to differentiate and drive revenue growth.
Overall Europe, visual analytics market size, has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe visual analytics market. It also provides an overview and forecast for the Europe visual analytics market based on all the segmentation provided for the European region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe visual analytics industry. Some of the players present in Europe visual analytics market are Alteryx, Inc., IBM Corporation, Microsoft Corporation, Microstrategy Incorporated, Oracle Corporation, Qlik Technologies Inc., SAP SE, SAS Institute Inc., Tableau Software, and Tibco Software Inc. among others.
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