Cloud Analytics Market Research Report- Forecast till 2023
Market Highlights
Market Research Future (MRFR), in its latest “Cloud Analytics Market” report, states that the market is expected to surge at 18% CAGR through 2017 to 2023. Cloud analytics allows organizations to collect and unite data from different sources, across any communication channels. It is a cost-effective technology for collection of data from internal applications, social networks, and devices in organizations. Cloud analytics is type of data analytics, which is executed in association with cloud service provider. They are performed both public and private basis. Cloud analytics is gaining popularity as software as a service solution that is priced as pay per usage or subscription. Cloud analytics can categorize official statistical data, thus simplifying analysis for executives of a company. This expected to prompt the expansion of the global cloud analytics market.
Industry Update
February 2020
Google Cloud, a suite of cloud computing run by Google, acquired Looker, an American computer software company, for USD 2.6 Bn. Mergers and acquisitions can benefit the global cloud analytics market.
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Segmentation:
The global market of cloud analytics is studied by organization type, deployment, and end-users. The global market of organization type segments are SMEs and large-scale companies. High number of deployments of cloud analytics in SMEs can prompt the market growth. The deployment-based segments of the market are private cloud, hybrid cloud, and public cloud. The hybrid cloud segment can generate considerable traction. The end-user-based segments of the market are consumer electronics, retail, banking, healthcare, education, media, and government. Data is the crucial asset of a company. The rise in data mining activities across different sectors is promoting the adoption of cloud analytics. The high rate of application of cloud analytics can surge the cloud analytics market.
Regional Outlook
MRFR study predicts that North America can lead in the global market due to the presence of reputed software developers in the region. North America cloud analytics can expand at a rapid pace across the forecast period. The US cloud analytics market is poised to register impressive valuation on the conclusion of the study period. Asia Pacific cloud analytics market surge can be attributed to the rise the adoption of technological advancements across countries, such as India, China, and Japan. Europe cloud analytics market can gain global foothold due to the presence of innovative technologies and their early adoption on the cloud platform. The information technology industry is booming in the Asia Pacific region. Increase in the number of international companies outsourcing their business to APAC countries is leading to the expansion of the IT industry. The growing IT sector is now actively deploying data analytics to break down silos, have a unified approach, provide better scalability and agility, and draw instant insights to execute different operations. Thus, the APAC cloud analytics market can achieve substantial revenue.
Key Players
MRFR enlisted major cloud analytics market players. They are Oracle corporation (U.S.), SAP SE (Germany), IBM corporation (US), Microsoft corporation (U.S.), SAS Institute Inc (U.S.), Hewlett Packard Enterprise (U.S.), Teradata corporation (U.S.), Google Inc (U.S.), Microstrategy Inc (U.S.), Informatica (U.S.), Tibco software Inc (U.S.), Salesforce Inc (U.S) and others. New entrants dealing in cloud analytics and big data can favor the global cloud analytics market. The cloud analytics market’s competitive landscape is largely influenced by new entrants. Entrepreneurs are investing in innovations and are investing in the development of new technologies. These can result in diversification of products making them cost effective. This can favor the global cloud analytics market.
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Cloud Analytics Market, By Organization Type (SME’s & Large), By Deployment (Private, Public and Hybrid), By Pricing Model (Subscription based & pay per use), By Solution (Cloud BI, Enterprise performance management (EPM), Data Warehousing Solutions (DWS), Risk & compliance, and Analytics Solutions), By End – User (Consumer Electronics, BFSI, Retail, Media, Government, Healthcare and Education) and By Region (North America, Europe, APAC and Rest of the World)
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