Visual analytics market seen reaching $28.9 billion by 2031

By AI, Created 11:22 AM UTC, June 02, 2026, /AGP/ – Allied Market Research says the global visual analytics market was worth $6.5 billion in 2021 and is projected to reach $28.9 billion by 2031, driven by rising enterprise demand for data analysis and visualization tools. North America led the market in 2021, while Asia-Pacific is expected to post strong growth.

Why it matters: - Visual analytics is becoming a core tool for companies that need to process larger, more complex data sets and turn them into faster decisions. - The market’s projected growth to $28.9 billion by 2031 signals sustained demand across industries, especially as businesses automate reporting, monitor risks and improve planning. - The forecast also points to rising spending on data-driven tools in both large enterprises and SMEs.

What happened: - Allied Market Research projected the global visual analytics market will rise from $6.5 billion in 2021 to $28.9 billion by 2031. - The report said the market is expected to grow at a 16.2% compound annual growth rate from 2022 to 2031. - The company released the forecast on June 2, 2026. - The report covered offering, deployment model, application, enterprise size and industry vertical. - The report included solution and service offerings, on-premise and cloud deployment, and uses across supply chain, sales and marketing, finance, HR and other applications.

The details: - Large enterprises held the biggest share of the market in 2021 because they have more capital and stronger operational capacity than SMEs. - SMEs are expected to grow the fastest during the forecast period because advanced analytics tools are becoming more accessible at lower cost. - North America led the market in 2021 and is expected to keep that lead through the forecast period. - Asia-Pacific is projected to grow significantly because of its large industrial base, rising technology adoption and government support. - BFSI generated the highest revenue by industry vertical in 2021. - Supply chain was the largest application segment in 2021. - Key players include Alteryx, DataDeck, Data Clarity, Geckoboard Software, IBM, Locii Solutions, Microsoft, MicroStrategy, Nexidia, Oracle, Orbital Insight, Qlik, SAP, SAS, Tableau, TIBCO and Ubiq. - The report said these companies are using different strategies to expand market share and strengthen their position. - The report is available as a 325-page sample request at the sample report. - Buyers can submit an inquiry at the purchase page.

Between the lines: - The market outlook is being supported by broader enterprise adoption of visualization platforms such as Power BI and MicroStrategy, plus data sources tied to IoT, chatbots and voice assistants. - The report links COVID-era demand to the need to analyze large datasets for inquiry, monitoring and fraud reduction. - The forecast also suggests companies are using visual analytics to spot problems earlier and make corrective decisions before a crisis escalates. - Obstacles remain. High installation costs, security concerns, a shortage of skilled professionals and limited awareness still slow adoption. - The report sees opportunity from the growing use of IoT and improved visual analytics capabilities.

What’s next: - The market’s next phase will likely hinge on whether vendors can lower adoption costs and address security and talent gaps. - Continued growth in cloud deployment and AI-enabled data tools could widen access for smaller firms. - Investment in research and public-sector data programs may add momentum, including the U.S. Department of Energy’s $26 million research award announced in April 2022 for scientific data management and visualization.

The bottom line: - Visual analytics is moving from a niche reporting tool to a broader enterprise decision-making platform, with the strongest growth likely to come from lower-cost adoption and rising data complexity.