The global cloud analytics market was valued at US$11.272 billion in 2017 and is projected to reach US$37.816 billion in 2023 exhibiting a CAGR of 22.35% during the forecast period. Cloud-based analytics help business organizations analyze a large amount of unstructured data flowing through various platforms including connected devices. Major factors driving the Cloud Analytics market growth include easy installation features of cloud analytics services and emergence of big data. Another factor contributing to the growth is the high adoption rate of cloud analytics across all industries. Increasing demand for cloud analytics for text analytics for use in fraud detection and security management applications is also expected to accelerate the growth of the industry. However, global economic slowdown and growing security concerns act as hindrances to the growth of the market. The North America and the European region held a significant market share in the cloud analytics market on account of strict compliance requirement for companies, which have to adhere to robust industry standards. Enhancing visibility of financial performance is one of the major reasons for the increasing adoption of cloud analytics solutions in organizations across North America. Growing adoption of cloud analytics solutions by the government sector is also expected to boost the market growth in this region. The Asia Pacific region will exhibit substantial growth over the next forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the value chain of cloud analytics market. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report SAP, Oracle Corporation, Microsoft Corporation, IBM Corporation, Teredate Corporation, Alphabet, Inc., and Hewlett- Packard among others.
The cloud analytics market has been analyzed through following segments:
By Deployment Model
By Organization Size
By Industry Vertical
Media and Entertainment
Energy and Power
Communication and Technology
Middle East and Africa