The North America Visual analytics market is expected to grow from US$ 858.1 Mn in 2017 to US$ 2279.8 Mn by the year 2025. This represents a CAGR of 13.1% from the year 2018 to 2025.
Visual Analytics is defined as the science of analytical reasoning, coupled with interactive visual interfaces. Visual analytics solutions assist the business owners to present the complex data in visual form and gain insights into the complex problems. Visual Analytics solutions also enable users to generate impactful visualizations and assists in identifying new opportunities in the business. In the current market scenario, volume and flow of data have increased significantly, which has influenced the growth of North America visual analytics market. Large organizations are actively focusing on adoption of robust visual analytics tools as they deal with a massive amount of data.
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Large organizations utilize visual analytics procedure and tools to analyze the massive amounts of data to gain insights and make decisions to achieve the long term objectives. Visual Analytics is gaining popularity among various industry verticals such as BFSI, IT & Telecom, and retail, among others. With the changing consumer preferences, various end-user enterprises are adopting visual analytics solutions as it provides them to get an update in real time and keep in pace with the changing consumer demands. Therefore, the growing volumes of data, increasing focus towards gaining insights to make informed decisions are the major factors that are expected to drive the growth of North America visual analytics market in future.
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The US presents a massive opportunity in the field of visual analytics. Majority of the companies in the country that have already implemented visual analytics, and other companies have vision and strategy to implement the visual analytics technology. Moreover, the US has the most important financial market in the world and one of the largest stock exchange. The data splurge in the country is owing to the presence of several tech & financial institutions. The US is an economically advanced country and the hub of the world’s biggest technology giants. Also, the US has deep integration of IoT based connected devices, that generates a considerable amount of digital data every second.
The developments in the field of Big Data, Business Intelligence (BI) and other associated technologies are further expected to propel the growth of North America visual analytics software adoptions by various industry verticals for performing different business functions. A high concentration of technological industry verticals in the US augurs good for the growth of the visual analytics market in the country.
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