The global cloud analytics market witnesses a substantial revenue increase. Cloud analytics allows organizations to unite the data from any sources across the channels for communication on a bigger scale. The market growth attributes to many emerging players in the analytics, big data, and cloud and the cost-efficiency of cloud analytics in data collection from social networks, internal applications, and devices, helping organizations enhance various business processes.
Moreover, rising numbers of small & medium enterprises (SMEs) and large enterprises escalate market growth. According to Market Research Future (MRFR), the global cloud analytics market is poised to create a valuation of USD 26 BN by 2023, registering 26% CAGR throughout the forecast period (2017-2023). The COVID 19 pandemic has been promoting the need to quickly combine data from internal and external sources to improve various business processes, create a massive demand for cloud-based platforms.
Additionally, the growing digital transformation across various verticals, such as manufacturing, healthcare, transportation, and retail, acts as a key tailwind for the market growth. Every organization comprises of various assets which needed to be tracked regularly for improved efficiency and productivity.
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Also, various features of IoT technology, improving public safety, healthcare, transportation, and finance with better and faster real-time information foster market growth. The deployment of IoT technology and the increasing adoption of unique services by cloud analytics in various organizations accelerate market growth.
Global Cloud Analytics Market – Competitive Analysis
Highly competitive, the cloud analytics market appears fragmented due to the presence of numerous well-established players. To gain a larger competitive share, industry players adopt business strategies such as mergers & acquisitions, collaborations, expansion, and technology innovation. The market is likely to witness intensified competition with an increase in R&D innovations and M&A. The leaders constantly innovate for the new technology and invest in research and development for a cost-effective portfolio.
Cloud Analytics Market Key Players:
Players active in the global cloud analytics market include Oracle Corporation (US), SAP SE (Germany), Microsoft Corporation (US), Hewlett Packard Enterprise (US), IBM Corporation (US), SAS Institute Inc (US), Teradata Corporation (US), Google Inc (US), Informatica (US), Salesforce Inc (US), Microstrategy Inc (US), and Tibco Software Inc (US), among others.
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Global Cloud Analytics Market – Segments
The report is segmented into six dynamics;
By Organization Type: SMEs and Large Enterprises.
By Deployment: Private Cloud, Public Cloud, and Hybrid Cloud.
By Pricing Model: Subscription-based and Pay Per Use.
By Solution : Cloud BI, Enterprise performance management (EPM), Data Warehousing Solutions (DWS), Risk & compliance, Analytics Solutions, and others.
By End–User: Consumer Electronics, BFSI, Retail, Media, Government, Healthcare, Education, and others.
By Regions : Europe, Americas, Asia Pacific, and the Rest-of-the-World.
Global Cloud Analytics Market – Regional Analysis
North America dominates the global cloud analytics market. The largest market share attributes to innovative technologies and early adoption of cloud technologies. Besides, the presence of several software-based companies drives the regional market growth, forming a strong competitive landscape.
Moreover, the rapid adoption of smart devices and rising numbers of enterprises in this region boost the growth of the market. The North American cloud analytics market is projected to retain its dominance throughout the estimated period.
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Europe stands second in the global cloud analytics market. The region hosts several well-established technology development centers and innovative technologies, allowing the early adoption of advanced technologies. The market is driven by the rising demand and early technology adopters from many end users like consumer electronics, banking, retailing, media, education, government, and healthcare.
Additionally, the presence of leading industry players and increasing uptake of cloud computing solutions across the industries for various applications escalate the market share of the region. Also, the growing adoption of cloud-based services by small and large organizations boosts the regional market's growth. The European cloud analytics market is estimated to create a substantial revenue pocket during the forecast period.
The Asia Pacific cloud analytics market is growing rapidly. Factors such as the growing uptake of futuristic cloud computing technologies & IoT devices across the industries and fast-developing IT infrastructure influence the regional market growth. Furthermore, the strong presence of key players and the continuous growth in technologies in the region positively impact market growth.
The increasing awareness about technological developments in the region acts as a key tailwind for market growth. The APAC cloud analytics market is expected to grow at the highest CAGR during the assessment period.
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The Cloud Analytics market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the cloud analytics market include SAP SE, Oracle Corporation, Microsoft Corporation, IBM Corporation, Hewlett Packard Enterprise, SAS Institute Inc., Google Inc., Teradata Corporation, Informatica, Microstrategy Inc., Salesforce Inc., Tibco software Inc., Other.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Cloud Analytics Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/cloud-analytics-market/download-sampleMarket DynamicsThe prime factors that are driving the cloud analytics market include the emergence of massive data in all industrial sectors such as healthcare, growing data connectivity through hybrid and multi-cloud environments, and increasing adoption for cloud analytics for data security purposes.
The characteristic features of cloud analytics, such as easy installation and cost benefits, are contributing to the growth of the market.
The other significant factors such as growing digitalization, increasing internet penetration, and rising usage of app-based services are propelling the global market.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
