Cloud Analytics Market 2019 Worldwide Impressive Growth Rate and Threshold 2023

Market Highlights

The global cloud analytics market size is estimated to reach USD 26 billion by 2023, as per an in-depth report by MRFR. The capacity of cloud computing to allow scaling of operations is the primary driver of the market. The migration of sensitive data to cloud is expected to spur the cloud analytics market growth.

Cloud analytics refers to a suite of tools used in extracting useful information from volumes of data. It can present the data on the Internet in a graphical or statistical format. This business model has gained prominence due to adoption of cloud services for management of data by various organizations. The global cloud analytics market report has been compiled by experts at Market Research Future (MRFR) using a combination of methods.

Over the past couple of years, an increase business activity across the world is noted. With technology empowering these businesses, the adoption of cloud analytics is growing. It is identified as the primary booster for the global cloud analytics market growth. The high use of smart and connected devices is observed among people due to the ability of these devices to simplify life of people is expected to contribute the adoption of cloud analytics by their manufacturers. This is likely to contribute to the expansion of the cloud analytics market. The generation of online data is huge and especially with the emergence of social networking, digital information is surging. Cloud analytics can effectively make procedures, such as data storage and data sharing seamless. In addition, cloud models and data analytics models are noted to contribute to the enhanced performance of cloud analytics. These factors are likely to positively impact the cloud analytics market. Technological advancements are observed to effectively boost the cloud analytics market. On the contrary, safety and security concerns revolving cloud analytics, as it is still in the nascent stage of development, is expected to hinder its market expansion. In addition, the reluctance of key players of the market can inhibit the expansion of the market.

Segmentation

The cloud analytics market share is segmented by deployment, organization type, pricing model, solution, and end-user.

By deployment type, it is segmented into private, public, and hybrid. The public cloud segment is expected to gain a sizeable market share owing to presence of various digital natives gaining access to storage space to serve their small customer base. On the other hand, the hybrid model is expected to experience a sharp growth owing various data visualization techniques which can present patterns and insights into user behavior which can provide an edge to organizations.

By organization type, it is segmented into SMEs and large. Large organizations can dominate the market owing to their capacity to invest and implement cloud technologies. On the other hand, the SMEs segment can capture a sizeable market share enticed by benefits of cloud computing.

By pricing, it is segmented into subscription based and pay per use. The subscription segment is predicted to exhibit the fastest growth rate owing to end-users preferring it over their counterpart for an annual fee.

By solution, enterprise performance management (EPM), cloud BI, risk & compliance, data warehousing solutions (DWS), and analytics solutions. The cloud BI segment is predicted to dominate due to the solution being pivotal for organizational growth.

By end-user, it is segmented into retail, media, government, healthcare, education, BFSI, and consumer electronics.

Regional Outlook

North America leads the global cloud analytics market thanks to adoption of latest technological infrastructure and continuous developments. It can enjoy a steady growth rate owing to supportive government policies. The growth witnessed in big data and various novel methods designed to store voluminous data can drive market growth.

The Asia Pacific is bound to expand at an ascending trajectory due to deployment of cloud solutions by enterprises for fetching relevant data. This can empower organizations in making business decisions at a robust rate. India is expected to contribute to the market thanks to policies such as Make in India.

Competitive Analysis

Cloud Analytics market is observed to experience high competition in the years to come. The presence of several skillful developers of cloud analytics, along with new entrants are expected to churn the market competition. The worldwide cloud analytics market is expected to expand through mergers and acquisitions, strategic partnerships, and collaboration among market players. At the same time, the market is expected to benefit from the intensifying competition among players of the market.

Key Players

MRFR listed a few eminent players of the cloud analytics market in the report. They are; SAP SE (Germany), Oracle Corporation (US), Tibco Software Inc (US), Hewlett Packard Enterprise (US), Microsoft Corporation (US), IBM Corporation (US), Teradata Corporation (US), SAS Institute Inc (US), Informatica (US), Google Inc (US), Salesforce Inc (US), and Microstrategy Inc (US).

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