The cloud analytics market is rising pervasively over the past couple of years mainly due to the increasing number of business, worldwide. The technology is empowering the businesses to grow exponentially without worrying about the scalar size and the speed the data gets accumulated with or the challenges its bringing along.
Recognizing the traction, the market is witnessing currently; Market Research Future (MRFR) in its recently published study report asserts that the global cloud analytics market will reach to USD 26 Bn. by 2023, posting an 18% CAGR during the assessment period 2017 – 2023.
The factors that drive the market for cloud analytics is that it allows the organizations to unite the data from any sources, across any of the channels for communication on a bigger scale. Cloud is cost effective because the collection of data from social networks, internal applications, and devices without cloud would be highly costly for many of the organizations. Cloud analytics is any form of data analytics carried out with the association of cloud service provider. It’s generally performed on a private or public basis. Cloud analytics is mainly Software as a service solution which is priced as subscription or pay per usage.
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Major Key Players
- Oracle Corporation (US),
- SAP SE (Germany),
- Microsoft Corporation (US),
- Hewlett Packard Enterprise (US),
- IBM Corporation (US),
- SAS Institute Inc (US),
- Teradata Corporation (US),
- Google Inc (US),
- Informatica (US),
- Salesforce Inc (US),
- Tibco Software Inc (US)
- Microstrategy Inc (US)
According to MRFR, The Cloud Analytics market is expected to reach approximately USD 26 billion by the end of 2023 with approximately 18% CAGR during the forecasted period from 2017 – 2023.
The North America region leads the global cloud analytics market with the largest market share. The market is growing due to the technical advancements coupled with the well- established infrastructures in the region which is favorable for the development of the technology. North America is expected to retain its dominance during the forecast period, witnessing augmenting uptake backed by the government’s programmed encouraging the advancements in cloud technologies.
The Asia Pacific cloud analytics market is expected to register the highest CAGR in the next six years, emerging as a lucrative market growing rapidly. The market growth attributes to the extensive demand for the deployment of advanced cloud analytics technologies that can provide a comprehensive support and real-time access to the data that can empower enterprises to make faster business decisions, understanding the business scenario quickly.
Also, the aggressively growing market in India, expanding due to the government’s efforts to promote Digital India Program, is contributing to the market growth in the region to an extent.
The cloud analytics market is segmented on the basis of Organization type, Deployment, Pricing Model, Solution, End User and region. On the basis of organization type, the segmentation is divided into SME’s and large organization, out of which large organizations are more likely to implement the cloud analytics services for their organization. This is due to the ability of cloud to accommodate data from any source from any channels. This helps the organization to monitor and retrieve any useful information anytime any place. On the basis of Deployment of cloud, the segmentation is divided into Private cloud, Public Cloud and Hybrid cloud.
The segmentation by solutions is further bifurcated as Cloud Business Intelligence (BI), Enterprise Performance management (EPM), Data Warehousing Solutions (DWS), Risk & Compliance and Analytics Solutions. The analytics solutions is further segmented into predictive analytics, machine analytics, web analytics, speech analytics, text analytics and video analytics. Most of the organizations prefer the cloud BI analytics and prefer public cloud as the deployment platform.
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- Cloud enablers
- Software solutions providers
- Network Security providers
- E –commerce retailers
- Retail firms
- Research firms
- Software investors
- Software Developers
- IT enablers
- Big data Vendors
- Government agencies
LIST OF TABLES
TABLE 1 CLOUD ANALYTICS MARKET, BY ORGANIZATION TYPE
TABLE 2 CLOUD ANALYTICS MARKET, BY DEPLOYMENT
TABLE 3 CLOUD ANALYTICS MARKET, BY PRICING
TABLE 4 CLOUD ANALYTICS MARKET, BY SOLUTIONS
TABLE 5 CLOUD ANALYTICS MARKET, BY END – USER
TABLE 6 CLOUD ANALYTICS MARKET, BY REGION
LIST OF FIGURES
FIGURE 1 RESEARCH METHODOLOGY
FIGURE 2 CLOUD ANALYTICS MARKET, BY ORGANIZATION TYPE (%)
FIGURE 3 CLOUD ANALYTICS MARKET, BY DEPLOYMENT (%)
FIGURE 4 CLOUD ANALYTICS MARKET, BY PRICING (%)
FIGURE 5 CLOUD ANALYTICS MARKET, BY SOLUTIONS (%)
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