Cloud Analytics Market Global Trends, Sales, Supply, Demand and Analysis by Forecast to 2023

Market Highlights

High volume of unstructured data can present a lucrative opportunity for the market. Companies are relying on social media channels present in the form of tweets, photos, comments, and others to gain insights on customer patterns. The continuous growth of this cluster of data supported by the growing number of Internet users is likely to bode well for the cloud analytics market.

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.

Also Read: http://www.marketwatch.com/story/cloud-analytics-market-growth-is-driven-by-rise-in-need-for-data-sorting-for-productivity-2020-02-24

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.

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.

Segmentation:

The global cloud analytics market share 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.

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.