What is the global market size of Cloud Analytics Market?

Global Cloud Analytics Market size was valued at USD 22.07 billion in 2021 and is poised to grow from USD 25.71 billion in 2022 to USD 128.89 billion by 2030, growing at a CAGR of 22.32% in the forecast period (2023-2030).

Who are the key vendors in the Global Cloud Analytics Market?

Global Cloud Analytics Market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Oracle Corporation', ' Microsoft ', ' Amazon Web Services (AWS) ', ' Google ', ' IBM ', ' SAP ', ' Salesforce ', ' Snowflake ', ' Domo ', ' Tableau ', ' Qlik ', ' SAS Institute ', ' Teradata ', ' MicroStrategy ', ' Alteryx ', ' Cloudera ', ' Informatica ', ' TIBCO Software ', ' Talend ', ' GoodData '

What is the key driver of Global Cloud Analytics Market?

The increased demand for analytics solutions is one of the primary drivers of the Global Cloud Analytics Market. Organizations are focusing on analytics solutions to adapt the strategic decision-making process as a result of increasing digitization, the availability of a wide range of data, and the need to stay ahead of the competition. Today's businesses are pushing toward digitization in order to analyze a sizable volume of unstructured data flowing across multiple platforms and improve company strategies. International Data Corporation (IDC) predicts that by 2025, 80% of the worldwide data gathered from businesses would be unstructured. In order to comprehend worldwide trends, client demand, and competitive benchmarks, firms have implemented a variety of business management systems based on the cloud. These analytics tools aid businesses in operating efficiently and successfully by assisting them in making better decisions based on historical and current data.

What is the key market trend for Global Cloud Analytics Market?

Business intelligence has grown in popularity in recent years as both structured and unstructured data have expanded. Businesses of all sizes are concentrating more on integrating business intelligence applications into their corporate infrastructures in order to acquire a competitive edge. Today, the majority of firms follow a streamlined process that involves locating, gathering, storing, and transferring a vast amount of data. BI solutions are used for this data in order to facilitate rapid and easy business decision-making. Standard visualization tools for the data should be available for identifying consumer preferences and patterns, gaining strategic insights, and balancing the supply and demand for new and existing goods and services. Business intelligence solutions are utilized by businesses in a variety of industries to make data easier to interpret and generate meaningful business insights. This, thus, is a rising trend that is projected to create ample opportunities for the Global Cloud Analytics Market in the future.

Which region accounted for the largest share in Global Cloud Analytics Market?

In 2021, North America is expected to have the biggest share of the global cloud analytics market share. Key players in the region are adopting cloud-based analytics solutions to fulfill user demand for better data quality, better integration, and data visualization. The promotion of Cross-Border Privacy Rules (CBPR) by the U.S. and increasing investment in cloud services by major players are anticipated to create attractive growth prospects for this industry in the region. The regional market has also been strengthened by the expanding trend toward subscription-based services, increased smartphone penetration, and technological improvements.

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 News

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 Market Report Snapshots

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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).

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. '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) '

Rising Concern Regarding Data Security and Privacy

Incorporation of Cloud Computing with Advanced technologies

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.

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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

Cloud Analytics Market News

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What is the global market size of Cloud Analytics Market?

Who are the key vendors in the Cloud Analytics Market?

What is the key driver of Cloud Analytics Market?

What is the key market trend for Cloud Analytics Market?

Which region accounted for the largest share in Cloud Analytics Market?

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