Cloud Analytics Market Share, Competitive Analysis, Upcoming Opportunities and Forecast To 2023

Market Highlights

Market Research Future (MRFR), in its recently published “Cloud Analytics Market” report, reveals that the global market of cloud analytics holds immense potential to expand across the forecast period of 2017 to 2023. As per MRFR’s report, the worldwide market of cloud analytics is expected to thrive at a lucrative CAGR of 18% CAGR during the assessment period and attain a valuation of USD 26 Bn by 2023.

Market Overview

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 global market of cloud analytics market forecast 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.

Detailed Regional Analysis

The cloud analytics market in the North America region is likely to lead in the global market holding the grand share of the market. The firm technical base and existence of well-established developers are expected to surge the cloud analytics market in North America. In Asia Pacific, the cloud analytics market is anticipated to garner the highest CAGR in the years of evaluation. Cloud analytics technologies empowering enterprises that aid in making faster business decisions are expected to propel the regional market.