The new report by Expert Market Research titled, ‘Global Cloud Analytics Market Size, Share, Price, Trends, Report and Forecast 2021-2026’, gives an in-depth analysis of the global cloud analytics market, assessing the market based on its segments like Cloud Bi Tools, Hosted Data Warehouse Solutions, Complex Event Processing, Enterprise Information Management, Enterprise Performance Management, Governance, Risk, and Compliance, Analytics Solutions, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 23.8 billion
• Forecast CAGR (2021-2026): 22%
• Forecast Market Size (2026): USD 78.5 billion
In the forecasting years, North America is projected to continue to hold the largest market share for cloud analytics. This is due to the active involvement of major industry actors in the United States, as well as the encouragement of cross-border privacy laws. The demand for better data visualisation and efficiency created by the adoption of Artificial Intelligence and Natural Language Processing (NLP) technologies is boosting industry growth in the area. Data centers opened by major players and demand created by new and emerging technology will drive significant growth in the Asia Pacific. The industry’s growth will be accelerated even further by developments in bandwidth and connectivity.
Industry Definition and Major Segments
Cloud analytics is a service that allows users to analyse data using remote private or public cloud tools. Cloud analysis methods and computational tools aid in categorising data after extracting valuable information from a vast volume of data. This reduces the cost of data storage and processing resources in the office and streamlines the business intelligence process. Cloud analytics also increases market operations productivity and communication, as well as data observation.
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On the basis of solution, the industry is segmented into:
• Cloud Bi Tools
• Hosted Data Warehouse Solutions
• Complex Event Processing
• Enterprise Information Management
• Enterprise Performance Management
• Governance, Risk, and Compliance
• Analytics Solutions
On the basis of deployment mode, cloud analytics is categorized into:
• Public Cloud
• Private Cloud
• Hybrid Cloud
The industry is divided on the basis of organization size into:
• Small and Medium-Sized Enterprises
• Large Enterprises
On the basis of vertical, cloud analytics is segmented into:
• Telecommunications and IT
• Energy
• Media and Entertainment
• Government
• Research and Education
• Retail and Consumer Goods
• Banking, Financial Services, and Insurance
• Healthcare and Life Sciences
• Manufacturing
• Others
The regional markets for the cloud analytics industry can be divided into:
• North America
• Europe
• the Asia Pacific
• Latin America
• and the Middle East and Africa.
Market Trends
Machine learning and artificial intelligence are examples of emerging technologies that can increase the quality and accuracy of operations. Their benefits, such as automation, decision-making, and data analysis, are attracting companies all over the world. The incorporation of cloud analytics into data processing and solutions for complex problems is driving cloud analytics market development. The business demand is being guided by cloud analytics, which offers effective and secure data storage options. The industry will be boosted by the rapid adoption of the internet of things and the expansion of 5G connectivity. The use of text analytics to handle protection will help the industry expand even faster. However, privacy concerns about sensitive data could stymie market growth.
Key Market Players
The major players in the market are IBM Corporation, Oracle Corporation, Google LLC, Microsoft Corporation, SAP SE, Hewlett-Packard Development Company, L.P., and Salesforce.com, Inc. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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