Cloud Analytics Market
Cloud Analytics Market - Global Industry Assessment & Forecast
- By Solution Analytics Solutions, Hosted Data Warehouse Solutions, and Cloud BI Tools
- By Deployment Mode Public Cloud, Private Cloud, and Hybrid Cloud
- By Region North America, Europe, Asia Pacific, Middle East & Africa, Latin America
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||28.12 USD Billion|
|Revenue 2028:||118.42 USD Billion|
|Revenue CAGR (2022 - 2028):||22.8%|
|Fastest Growing Region (2022 - 2028)||North America|
|Largest Region (2021):||Asia Pacific|
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Cloud Analytics Market
Global Cloud Analytics market is valued at 28.12 USD Billion in 2021 and is projected to attain a value of 118.42 USD Billion by 2028 at a CAGR of 22.8% during the forecast period, 2022–2028.
Cloud Analytics market is booming globally due to the increasing demand of enterprise resource planning solutions. The changing business environments across the globe and the need for faster response with better insights has made Cloud Analytics a preferred solution. Cloud Analytics are less expensive than its on-premises counterparts and supports intuitive data management. It also provides quick access to data for faster decision making and reduces operational overhead costs.
Cloud Analytics Market Size, 2021 To 2028 (USD 118.42 Billion)
The demand for Cloud Analytics is increasing at a fast pace due to the fact that organizations are adopting cloud solutions like never before. Cloud solutions offer agility, scalability, security, and reliability which organizations need to compete in today's digital world.
Increasing Data Connectivity Through Hybrid and Multi-Cloud Environments
The global demand for Cloud Analytics is increasing because it provides enterprises with the opportunity to put their data in a central location and analyze it through a single dashboard. This enables them to monitor their business on different levels, including customer behaviors and trends. With this service they can better identify what they need to track in order to improve and grow their business.
This is due to the ease and affordability of Cloud Analytics. Organizations across the globe are adopting this resource to quickly get insights from their data. As a result, organizations are becoming smarter about their business and increasing revenue.
Global Cloud Analytics market is Segmented by Solution (Analytics Solutions, Hosted Data Warehouse Solutions, and Cloud BI Tools), Deployment Mode (Public Cloud, Private Cloud, and Hybrid Cloud), Organization Size, Industry Vertical, and Region.
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By Solution, Analytic Solution to Dominate Cloud Analytics Market
The demand for solution to analyze data is increasing among businesses across the globe because they are looking at it as a lucrative business opportunity. Analytics solutions are viewed as an important asset in the field of business and tech today. Businesses need to know what their target market wants so they can be successful. No matter how much data, analysts always need more of it and they want it in real time. So, businesses need analytics solutions to help them analyze all the available data that is out there.
Apart from this, analytics solutions are in demand as they provide a systematic process to identify and analyze critical areas of improvement. This is because they work to organize, measure, and communicate the business impact of changes needed in the organization's operations. Analytics solutions also work to improve customer service by providing a systematic approach for identifying potential risks and proposing potential resolutions.
North America to Dominate Cloud Analytics Market
The demand for cloud analytic is increasing across the North America due to a variety of factors. The increase in data volumes and the need to process them quickly is driving the construction of more data centers in order to provide high speeds to all customers. Analytic on the cloud also enables businesses to focus on their core competency, thereby leading to an increase in revenue and profitability.
One of the most important factors in this demand is the use of cloud analytic for managing and analyzing data. Many organizations are increasingly using cloud analytic for predictive analytics, to examine trends in their data, to gain insights into what is happening with their customers, and to find new ways of doing business. With developments like machine learning and deep neural networks, organizations can automate tasks that otherwise would have been requiring human resources, providing faster processing and lower costs.
Google (US), Microsoft (US), IBM (US), Oracle (US), SAP (Germany), Salesforce (US), SAS Institute (US), TIBCO Software (US), Teradata (US), MicroStrategy (US), AWS (US), Sisense (US), Hewlett-Packard Enterprise (US), Cloudera (US), Atos (France), Hitachi ThoughtSpot (US), Vantara (US), Domo (US), Qlik (US), GoodData (US), Absolutdata (US), Alteryx (US), Yellowfin (Australia), Infor (US), Guavus (US), Board International (Switzerland), Looker (US), and Pyramid Analytics (Netherlands).
Cloud Analytics Market is segmented as follows:
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Cloud Analytics Market is tabulated as follows:
Frequently Asked Question
The global Cloud Analytics valued at 28.12 USD Billion in 2020 and is expected to reach 118.42 USD Billion in 2028 growing at a CAGR of 22.8%.
The prominent players in the market are Google (US), Microsoft (US), IBM (US), Oracle (US), SAP (Germany), Salesforce (US), SAS Institute (US), TIBCO Software (US), Teradata (US), MicroStrategy (US), AWS (US), Sisense (US), Hewlett-Packard Enterprise (US), Cloudera (US), Atos (France), Hitachi ThoughtSpot (US), Vantara (US), Domo (US), Qlik (US), GoodData (US), Absolutdata (US), Alteryx (US), Yellowfin (Australia), Infor (US), Guavus (US), Board International (Switzerland), Looker (US), and Pyramid Analytics (Netherlands)..
The market is project to grow at a CAGR of 22.8% between 2021 and 2028.
The driving factors of the Cloud Analytics include
- Increasing data connectivity through hybrid and multi-cloud environments
Asia Pacific was the leading regional segment of the Cloud Analytics in 2020.