According to market research report on "Cloud Analytics Market 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 - Global Forecast to 2025", published by MarketsandMarkets™, the Cloud Analytics Market size to grow from USD 23.2 billion in 2020 to USD 65.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 23.0% during the forecast period. The major factors driving the growth of the Cloud Analytics Market are increasing data connectivity through hybrid and multi-cloud environments, the cost benefits of cloud-based analytics solutions, and growing trend of digitalization and massive rise in big data. Furthermore, Insufficient in-house IT expertise and equipment, and growing use of mobile apps due to the COVID-19 pandemic are expected to provide opportunities for enterprises operating in various verticals in the Cloud Analytics Market.
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in-depth TOC on “Cloud Analytics Market”
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The analytics solution segment to record the highest growth rate
during the forecast period
Under the solutions segment, the analytics solution is expected
to grow at the highest growth rate during the forecast period. The high market
share of analytics solutions is attributed to the increasing demand for the
dashboards provided by various vendors, which help businesses retain customers
and identify new opportunities for future growth. The demand for cloud
analytics solutions is increasing globally due to the increasing demand for
offering enhanced customer support across major verticals. These solutions are
further capable of creating a detailed analysis of the data through the
integration of various technologies. Cloud analytics solutions comprise cloud
BI tools; hosted data warehouse solutions; complex event processing; Enterprise
Information Management (EIM); Enterprise Performance Management (EPM);
Governance, Risk, and Compliance (GRC); and analytics solutions.
These solutions help businesses to improve their business decision-making
ability. It provides a platform that has cloud-based analytical capabilities,
which helps various industries remain competitive in the market. To handle huge
data volumes from heterogeneous data sources, and to extract useful
informational insights from the data corpus, businesses need to set up more
servers and other hardware equipment, along with highly skilled IT personnel.
Cloud analytics solutions resolve work-intensive and resource-intensive issues
as the on-demand characteristics eliminate the costs associated with setting up
more servers and other hardware equipment required by the data centers of
business organizations. The cloud analytics solution providers offer end-to-end
solutions to cater to the industry-specific requirements of verticals, such as
BFSI, healthcare and life sciences, retail and consumer goods, research and
education, government, media and entertainment, energy, telecom and IT,
manufacturing, and other verticals that include infrastructure management,
logistics, and transportation and automotive
The hybrid cloud deployment segment segment to record the higher
CAGR during the forecast period
In the Cloud Analytics Market by deployment mode, the hybrid
cloud segment is expected to record the higher CAGR during the forecast period.
Data is a valuable asset for formulating business strategies. Organizations are
becoming highly dependent on data, which helps them gain a competitive
advantage. Organizations are increasingly focusing on channelizing and
harmonizing critical reference data. Enterprises have now started investing in
maintaining a central repository of data for easy access and better analysis of
data. Enterprises prefer the deployment mode based on their requirements
regarding scalability and level of data security.
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North America to hold the largest market size during the forecast period
North America is expected to hold the largest market size in the
global Cloud Analytics Market during the forecast period. The US has emerged as
the largest market, due to the increasing investments and a growing presence of
vendors who are exploring the use of AI and NLP technologies for various
applications. The US market widely adopts AI and NLP technologies in its
business establishments and other verticals, catering to customers in a better
way and continually improving business efficiencies. The country has advanced
infrastructure, innovations, and initiatives necessary to evolve cloud
analytics into robust solutions with innovative benefits.
Key and emerging Cloud
Analytics Market players include Microsoft (US), Google (US), Oracle (US),
IBM (US), Salesforce (US), SAP (Germany), TIBCO Software (US), SAS
Institute (US), Teradata (US), AWS (US), MicroStrategy (US), Hewlett-Packard
Enterprise (US), Sisense (US), Atos (France), Cloudera (US), Hitachi Vantara
(US), ThoughtSpot (US), Qlik (US), Domo (US), GoodData (US), Alteryx (US),
Absolutdata (US), Infor (US), Yellowfin (Australia), Guavus (US), Looker (US),
Board International (Switzerland), and Pyramid Analytics (Netherlands).
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