Cloud Analytics Market Growth, Trends, Key Vendors, Segmentation, Regional Overview and Forecast 202

Market Highlights

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.

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 it bringing along.

The cloud analytics 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.

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

Detailed Regional Analysis

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 programmes 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.

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).

Segmentation:

The global cloud analytics market research segmental study is based on type, deployment, pricing model, solution, and end-user. By type, the market is segmented into Large Enterprises and SMEs. By deployment, the market is sectioned into public, hybrid cloud, and private. By pricing model, the market is split into pay per use and subscription-based. By solution, the market is classified into Enterprise performance management (EPM), Cloud BI, Risk & Compliance, Data Warehousing Solutions (DWS), Analytics Solutions, and others. By End-user, the market is classified into BFSI, consumer electronics, media, healthcare, retail, government, education, and others.