Cloud Analytics Market to Reach USD 203.48 Billion by 2032| SNS Insider
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Some of Major Keyplayers:
- IBM (Watson Analytics, IBM Cognos Analytics)
- SAS Institute (SAS Visual Analytics, SAS Viya)
- Oracle (Oracle Analytics Cloud, Oracle Autonomous Database)
- Google (Google Analytics 360, Looker)
- Microsoft (Power BI, Azure Synapse Analytics)
- Teradata (Teradata Vantage, Teradata Cloud)
- Salesforce (Tableau, Salesforce Analytics Cloud)
- AWS (Amazon QuickSight, AWS Redshift)
- NetApp (Cloud Insights, NetApp ONTAP)
- Qlik (Qlik Sense, QlikView)
- Sisense (Sisense for Cloud Data Teams, Sisense for Cloud Analytics)
- SAP (SAP BusinessObjects, SAP Analytics Cloud)
- Atos (Atos Analytics, Atos Digital Transformation)
- Altair (Altair Smart Learning Analytics, Altair Data Analytics)
- Microstrategy (MicroStrategy Cloud, MicroStrategy Analytics)
- Tibco Software (TIBCO Spotfire, TIBCO Jaspersoft)
- Hexaware Technologies (Hexaware Data Analytics, Hexaware Cloud Services)
- Zoho (Zoho Analytics, Zoho Business Intelligence)
- Rackspace Technology (Rackspace Analytics, Rackspace Data Cloud)
- Splunk (Splunk Cloud, Splunk Enterprise)
- Cloudera (Cloudera Data Platform, Cloudera Altus)
- Domo (Domo Business Cloud, Domo Data Science)
- Hewlett Packard Enterprise (HPE Ezmeral, HPE GreenLake)
- Incorta (Incorta Analytics, Incorta Cloud Analytics)
- Tellius (Tellius Analytics, Tellius Business Intelligence)
- Rapyder (Rapyder Cloud Analytics, Rapyder Data Analytics)
By Component: Solutions Segment Leads, While Services Show Fastest Growth
The solutions segment dominated the market and accounted for a significant revenue share in 2023, as several industries adopted better data management and analytics solutions. There is a growing demand due to the increasing penetration of AI and ML within cloud analytics solutions. With operational efficiencies, more optimized customer engagement, and better decision-making available to all businesses via cloud-based platforms, the proliferation of data-based technologies will see greater investment by companies as they continue to seek value.
The services segment is expected to register the fastest CAGR during the forecast period, from 2024 to 2032. High Demand for Consulting, Integration, and Managed Services to Boost Growth Cloud-based analytics are also relatively new, so businesses need help with deployment and management, helping to boost demand for cloud analytics services.
By Organization Size: Large Enterprises Dominate, While SMEs Exhibit Rapid Growth
The large enterprises segment dominated the market and represented a significant revenue share in 2023 owing to their high data processing needs along with the dependence on advanced analytics solutions. For large organizations, cloud analytics is used to achieve a wide range of analytics capabilities and to increase operational performance involving use cases of BFSI, healthcare, and retail to enable analytics-based decisions.
SMEs are anticipated to grow at the fastest CAGR during the forecast period. Cloud analytics is now embracing SMEs due simple availability of affordable cloud solutions and the flexibility and availability of scalable analytics tools. A growing emphasis on competitive intelligence and digital transformation is also propelling more market growth, particularly in the context of small and medium-sized businesses.
By Deployment: Public Cloud Dominates, Hybrid Cloud to Grow Rapidly
The public cloud dominated the Market and accounted for a significant revenue share in 2023, owing to its low-cost, scalable, and high accessibility characteristics. Public cloud solutions are often preferable to organizations seeking to eliminate infrastructure costs and enjoy rapid integration with current systems. Cloud adoption will keep growing as expeditionary cloud providers such as AWS, Google Cloud and Microsoft Azure keep increasing their services.
The hybrid cloud deployment is expected to witness the fastest growth rate. With the hybrid model, organizations can take advantage of both the benefits of private and public cloud models while keeping the data secure and at the same time facilitating flexibility. Hybrid Cloud Analytics is gaining traction in industries with stringent regulatory requirements such as BFSI and healthcare, helping them remain compliant with Cloud-enabled insights.
Cloud Analytics Market Segmentation:
By Component
- Solutions
- Services
By Organization Size
- Large Enterprises
- Small & Medium-Sized Enterprises
By Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Industry Vertical
- BFSI
- IT & Telecommunication
- Manufacturing
- Healthcare & life sciences
- Government
- Energy & Utilities
- Others
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By Region: North America Leads, While Asia-Pacific Emerges as the Fastest-Growing Market
North America dominated the market and accounted for a revenue share of more than 40%, Driven by cloud computing technology adoption, significant cloud service provider presences, and the rising use of AI-powered analytics solutions. Cloud analytics adoption is highest in the U.S. and Canada, particularly in the BFSI, healthcare, and retail sectors. The region's market growth is further boosted by government initiatives aiding digital transformation as also the investments fundamental enterprises are pursuing over the cloud-based AI and ML solutions.
Asia-Pacific is expected to register the fastest CAGR During 2024-2032 Digital transformation is being embraced rapidly, leading to fast-growing sectors such as cloud adoption efforts and government initiatives that drive the evolution of smart cities and data-driven economies. BFSI sectors in countries such as China, India, and Japan are rapidly being adopted by cloud-based analytics. High adoption of e-commerce in the region and rising demand for AI-powered analytics solutions are propelling market growth.
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Table of Content:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Cloud Analytics Market Segmentation, By Component
8. Cloud Analytics Market Segmentation, By Organization Size
9. Cloud Analytics Market Segmentation, By Deployment
10. Cloud Analytics Market Segmentation, By Industry Vertical
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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