Market Highlights

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 report include Cloud Analytics Market demand and supply dynamics, industrial processes, import and export scenarios, R&D development activities and cost structures.

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.

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Owing to the vital role of cloud analytics play, contributing to the growth of the businesses, its market is growing pervasively with the rapid pace. The proliferation of connected smart devices, social networks, internal applications, and the scalar size data they generate, escalate the market on the global platform. Similarly, growing businesses augment the market demand for cloud analytics.

Besides, to the factors fostering the market growth include technological advancements and the augmenting uptake of cloud analytics. On the other hand, factors such as safety and security concerns brought about due to the cloud analytics still being in the nascent stage, coupled with the reluctance of the market players for investments inhibit the market growth.

Key players

The cloud analytics market holds some of the prominent key players in the market like SAP SE (Germany), Oracle corporation (U.S.), Microsoft corporation (U.S.), IBM corporation (US), Hewlett Packard Enterprise (U.S.), SAS Institute Inc (U.S.), Google Inc (U.S.), Teradata corporation (U.S.), Informatica (U.S.), Microstrategy Inc (U.S.), Salesforce Inc (U.S) and Tibco software Inc (U.S.) and many other emerging players in the analytics, big data and cloud.

Segmentation:

The MRFR analysis is segmented into six key dynamics: –

By Types: SME’s and Large Enterprises

By Deployment: Private, Public and Hybrid cloud.

By Pricing Model: Subscription-based and Pay per use among others.

By Solution: Cloud BI, Enterprise performance management (EPM), Data Warehousing Solutions (DWS), Risk compliance, and Analytics Solutions among others.

By End-user: Consumer Electronics, BFSI, Retail, Media, Government, Healthcare and Education among others.

By Region:  North America, Europe, Asia Pacific (APAC), and Rest-of-the-World.

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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.