USD 22.07 billion
Cloud Analytics Market Size, Share, Growth Analysis, By Service Model(SaaS, IaaS, PaaS, Data Management), By Type(Managed Services, Professional Services), By Deployment Model(Private Cloud, Hybrid Cloud, Public Cloud), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2044 |
Region:
Global |
Published Date: October, 2024
Pages:
274
|Tables:
125
|Figures:
77
Cloud Analytics Market Insights
Global Cloud Analytics Market size was valued at USD 484.23 Billion in 2022 and is poised to grow from USD 565.58 Billion in 2023 to USD 1959.01 Billion by 2031, growing at a CAGR of 16.8% in the forecast period (2024-2031).
Cloud Services are a wide range of IT applications and resources that consists of software, infrastructure, and platforms hosted by third-party providers. They are delivered on-demand to companies and individual customers through the internet. The utilization of cloud services enables customers to access software, cloud storage, computing power, IT infrastructure, and other services without sustaining any maintenance expenses.
The emergence of hybrid and multi-cloud solutions is offering organizations the flexibility and control they want for their business. Now, companies can use the strengths of various cloud providers, developing a customized infrastructure solution that amicably aligns with their particular requirements. Moreover, pay-as-you-go pricing models mitigate the upfront expense related with conventional IT infrastructure, making cloud computing popular among businesses. This is especially true in emerging economies, where businesses are striving to find ways for enhancing their digital abilities and compete in the market. In recent times, governments are also playing a vital part in increasing the adoption of cloud. By integrating robust data security regulations and fostering trust in the cloud systems, they are developing a secure setting for business so that they can operate smoothly.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Public
Fastest Growth
Public
Growth Rate
22.32% CAGR
Global Cloud Analytics Market ($ Bn)
Country Share for North America Region- 2023 (%)
To get more reports on the above market click here to Buy The Report
Cloud Analytics Market Segmental Analysis
The global Cloud Analytics Market is segmented by service model, type, deployment model, and region. Based on the service model, the market is segmented into IaaS, PaaS, Data Management, SaaS, and BPaaS. Based on type, the market is segmented into Managed Services and Professional Services. Based on the deployment model, the market is segmented into private cloud, hybrid cloud, and public cloud. Region wise, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Service Model
Based on the service model, the market is segmented into SaaS, IaaS, PaaS, Data Management, and BPaaS. The SaaS segment is dominating the market with its applications that are easy to use and deploy. Organizations can access these applications on demand, mitigating the requirement for complex installations or constant maintenance. Such user-friendly approaches make Saas solutions extremely popular among organizations of all sizes, from established businesses to startups. Furthermore, SaaS applications are typically prices on subscription basis, providing a predictable and cost-efficient process of businesses for accessing the software they require. Moreover, SaaS vendors are continuously launching new features, making sure that customers have access to new functions. These factors have increased the growth of the SaaS segment in the market.
The IaaS segment is also growing rapidly due to its potential to offer business flexibility, scalability, and cost-effectiveness. Unlike conventional on-premises infrastructure, IaaS mitigates the necessity for businesses to invest in costly hardware and software. Rather, they can pay for the computing elements they require on a per-user basis, scaling their structure up or down, according to the demand. Such flexibility is making it popular among startups and organizations with uncertain resource requirements. IaaS providers also manage the maintenance of the infrastructure, helping IT teams to concentrate on higher-level tasks and strategic initiatives.
Analysis by Deployment Model
Based on the deployment model, the market is segmented into private cloud, hybrid cloud, and public cloud. The private cloud segment is dominating the market as they provide a better level of control and customization. Companies can customize their cloud infrastructure for meeting particular security and compliance needs. Furthermore, private cloud provides reliable performance as resources are not shared among other users. This is vital for organizations that operate mission-critical applications. The managed private cloud services are also getting immense traction owing to less investment in hardware and software and reduced maintenance.
The hybrid cloud segment is growing fast as it enables businesses to maintain control over confidential data that needs stringent regulations or on-premises storage for compliance reasons. Furthermore, hybrid cloud deployments provide better flexibility during disaster recovery strategies. Organizations can imitate vital data and applications in the hybrid cloud ensuring smooth continuation of operations during any outage.
Cloud Analytics Market By Data Pocessing (%)
To get detailed analysis on other segments, Request For Free Sample Report
Cloud Analytics Market Regional Insights
North America is dominating the global Cloud Analytics Market driven by the presence of prominent technology hubs and a developed IT infrastructure. The massive adoption of cloud solutions throughout several industries along with robust government initiatives is also encouraging digital transformation, boosting market growth. The presence of leading cloud service providers such as AWS, Microsoft Azure, and Google Cloud Platform (GCP) are also fostering innovation and attracting organizations who are trying to implement advanced cloud solutions. Businesses in U.S. are also prioritizing on digitalization as they are considered as the pioneer of using technologies like big data analytics, augmented reality (AR), artificial intelligence (AI), virtual reality (VR), machine learning, and 4G, 5G, and LTE. As more companies in the regions are using diverse technologies, the expansion of the cloud service market is increasing.
The Cloud Analytics Market in Asia Pacific is steadily growing due to the rapid economic developments and growing internet penetration. The rise of tech-savvy population in this region is also expanding the growth of the Cloud Analytics Market. Government initiatives in encouraging cloud adoption and a huge domestic market with rising demand for digital services is positively influencing the market in China. The presence of several cloud giants is also propelling the market growth. India’s cloud computing market is also witnessing significant growth owing to young population, increasing internet usage, and government initiatives promoting digitalization. The cost-efficiency and scalability of clous solutions are also appealing India’s rising startup culture.
Cloud Analytics Market By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Cloud Analytics Market Dynamics
Drivers
- Rising Concern Regarding Data Security and Privacy
Data privacy and security are some of the primary concerns of organizations, but the storage and transmission of data or information must be digitally secured. Most of the business-sensitive data or information that are stored on hard drives are insecure. Cloud vendors offer various solutions to secure data, like authorization management, access control, data encryption, cloud integration, monitoring & auditing, and communication security. For example, companies like Microsoft Corporation, Google LLP, and Amazon.com Inc. offer 99.9% uptime. This releases the organizations from the load of maintaining and developing recovery facilities and backup infrastructures.
- Growing Adoption of Cloud Computing in Small and Medium Enterprises
Many SMEs are adopting cloud computing because its services are helping in improving business functionality by enhancing productivity and reducing operational expenses. As investments in cloud-based computing in several dependable operating systems are growing, the small size businesses can also profit by improving their operational efficiency with less IT expense. Therefore, small and medium enterprises are creating many opportunities for cloud computing, resulting in the expansion of the cloud service market.
Restraints
- Data Security and Privacy Concerns
One of the major restraining factors for the global cloud service market is the concern related to data security and privacy. Nowadays, businesses are heavily dependent on cloud services for storing and processing confidential information. The risk of data breaches and unauthorized access has become a vital problem. Irrespective of advancements in cybersecurity, incidents of data leak and cyberattacks are persisting, making companies doubtful in implementing cloud solutions.
- Lack of Technical Knowledge
Companies need technical people for implementing, processing, analyzing, and protecting cloud services. Furthermore, IT professionals require more technical capabilities, particularly in cloud computing. Due to such a lack of skilled workforce, businesses are losing out on the benefits of growing technologies and clouds, leading to a reduction in market share. Several issues like quick hiring processes and high pay scale of skilled cloud workers are hindering the growth of the market. More issues like difficulty in finding people who fit with the company’s culture are also creating problems for hiring managers to find qualified applicants.
Request Free Customization of this report to help us to meet your business objectives.
Cloud Analytics Market Competitive Landscape
The Cloud Analytics Market is characterized by intense competition among prominent market players like Amazon Web Service (AWS), Microsoft Azure, and Google Cloud Platform (GCP), along with many smaller vendors. These organizations compete on various fronts, like pricing, performance, reliability, security, and the range of service provided. Many niche players and regional providers are contributing to the competitive dynamics, by meeting the demand of particular industry verticals or geographic regions. Partnerships, acquisitions, and innovations are driving the market as providers are trying to increase their market share and presence. This is also helping them to fulfil the evolving requirements of businesses shifting to the cloud for digital transformation initiatives.
Top Player’s Company Profiles
- Amazon Web Services (AWS) (United States)
- Microsoft Azure (United States)
- Google Cloud Platform (United States)
- Alibaba Cloud (China)
- IBM Cloud (United States)
- Salesforce (United States)
- Oracle Cloud (United States)
- SAP Cloud Platform (Germany)
- VMware Cloud (United States)
- Rackspace (United States)
- Adobe Experience Cloud (United States)
- ServiceNow (United States)
- Cisco Cloud Services (United States)
- Dell Technologies Cloud (United States)
- Hewlett Packard Enterprise (HPE) Cloud (United States)
- Box (United States)
- Dropbox (United States)
Recent Developments
In April 2024, Google introduced a custom-designed Arm-based server chip. This chip known as Axion can revolutionize cloud computing by making it cost-efficient. This moves places Google along with competitors such as Amazon and Microsoft who have already adopted similar strategies.
In January 2024, American Tower collaborated with IBM Join Forces to strengthen businesses with innovative cloud solutions. This partnership will evolve the way businesses approach innovation and customer experiences.
In January 2024, Eviden and Microsoft went into a strategic partnership for five years. This collaboration will extend their current relationship by bringing advanced Microsoft Cloud and AI solutions to various industries.
Cloud Analytics Key Market Trends
- Incorporation of Cloud Computing with Advanced technologies
The integration of cloud computing with innovative technologies like AI, ML, and IoT offers substantial opportunities to the market. Cloud platforms can offer the required infrastructure and computational power to efficiently deploy these technologies, allowing organizations to use their complete potential.
- Growing Adoption of Hybrid Cloud Solutions
A vital trend that is increasing in the global Cloud Analytics Market is the rising adoption of hybrid cloud solutions. This method mixes the flexibility of public cloud services with the control and security of private cloud structure. This offers organizations a proper balance and better computing environment. The importance of hybrid cloud is increasing as they offer the flexibility to move applications and data between different cloud settings as necessary.
Cloud Analytics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global Cloud Analytics Market is witnessing robust growth due to the increasing adoption of cloud computing solutions. These innovative solutions drive digital transformation, enhance operational efficiency, and improve business flexibility. Companies are understanding several advantages provided by cloud computing, leading to the growth of global Cloud Analytics Market. Factors like cost-effectiveness, scalability, flexibility, digital transformation, accessibility, security are also driving the market expansion. Businesses are also prioritizing flexibility, innovation, and cost optimization due to which cloud service have become a vital component for their IT strategies, shaping the future of global Cloud Analytics Market
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 484.23 Billion |
| Market size value in 2031 | USD 1959.01 Billion |
| Growth Rate | 16.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cloud Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cloud Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cloud Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cloud Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cloud Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cloud Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
