Analytics as a Service Market is Expected To Reach USD 30 billion by 2023 | Global Analytics as a Service Market Forecasted to Observe an Enormous Growth

Analytical service facilitates better visibility and improves return on investment (ROI) on inbound and outbound marketing channels which is presumed to foster the market globally. The service also aids to supervise the data traffic on the run-time basis.

Pune, India, July 31, 2019 (GLOBE NEWSWIRE) -- Overview:

According to Market Research Future (MRFR), the global analytics as a service market is forecasted to reach over USD 30 BN by 2023. MRFR states that the market would register a whopping CAGR over 35% during the forecast period (2017-2023). The emergence of social media analytics is a major growth driver of the market.

Factors Inspiring the Market

Over the past few years, the number of businesses is multiplying rapidly, and so is augmenting the need for data analysis for competitive advantage. This drives the growth of the market, substantially. Besides, the increasing awareness of the internet of things (IoT) among the business enterprises and surging adoption of social media application foster the growth of the market.

With the increasing usages of connectivity technology, the creation and consumption of data continue to grow by leaps and bounds and along with it, increases the investment in analytics services. The accumulation of vast data sets is one of the reasons deep learning, a subset of artificial intelligence (AI), has emerged as the hottest tech trend. Enterprises with deep pockets are investing in the acquisition of AI hardware & software.

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Rising interest and investment in AI, would, in turn, lead to the emergence of new tools for collecting and analyzing data and new businesses roles and responsibilities. Moreover, the proliferation of deep learning and machine learning concepts are propelling the growth of the market. A rapid increase in the number of social media sites has shaped up an surge demand to track user interactions on these sites.

Key Players:

Players leading the Analytics as a Service Market include Oracle Corporation (US), IBM Corporation (US), 1010 Data Inc. (US), Google Inc. (US), Hewlett-Packard Enterprise (US), Amazon (US), Hitachi, Ltd. (Japan), EMC Corporation (US), SAS Institute (US), Cloudera, Inc. (US), and Good data Corporation (US), among others.


The report is segmented into six key market dynamics to widen the scope of understanding,

By Component: Solutions (risk analytics, financial analytics, customer analytics, sales analytics, marketing analytics, web & social analytics, supply chain analytics, network analytics, and others) and Services (consulting, managed service, and support & maintenance).

By Analytics Type: Predictive, Prescriptive, Descriptive, and Diagnostics, among others.

By Deployment: Public, Private, and Hybrid.

By Organization Size: Large Enterprises and Small & Medium Enterprises (SMEs).

By End-user: BFSI, Retail & E-commerce, Government, Healthcare & Life Sciences, Manufacturing, IT & Telecom, Energy & Utility, Travel & Hospitality, Transportation & Logistics, and Media & Entertainment, among others.

By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.

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Mapping the Global Market:

North America is dominating the global analytics as a service market with the largest share. The presence of a number of solution providers and growing demand for big data are two of the key factors driving the growth of the regional market. Due to the technological advantage, the region presumed to have a significant increase in the analytics as a service market.

The analytics as a service market in the European region accounts for substantial revenues and has been valuing exponentially year after year. The growing number of enterprises alongside the burgeoning healthcare and manufacturing industries, drive the regional market.

Asia Pacific analytics as a service market is emerging as a profitable market. The market has been valued considerably over the recent years and is expected to create a substantial revenue pocket over the forecasted period.  The increase in demand for a high volume of data storage, such as big data and cloud computing are major factors fostering the regional market.

India, Japan, China, and South Korea are the leading countries in the region analytics as a service market. The market in India is growing rapidly, backed by the enormous investments made by developed economies to set up IT infrastructure in the country.


15 July, 2019 --- Dentsu Aegis Network Ltd. (the UK), a multinational media and digital marketing communications company, announced the acquisition of majority stake in Ugam Interactive Solutions Pvt. Ltd. (India), a data-analytics firm.

Ugam will join Merkle, a US-based technology-enabled marketing agency, Dentsu had acquired a majority stake in 2016. Ugam is essential to the execution of Merkle’s multi-year analytics strategy of creating a scaled on- and offshore shared analytics service across Dentsu Aegis Network. Ugam’s integration with Merkle will be rebranded as Ugam, a Merkle company.

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