WASHINGTON, March 29, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Cloud Analytics Market finds that the increase in data connectivity through hybrid and multi-cloud environments is expediting market growth. Primarily driven by increasing trend of digitalization and massive rise in big data, the total Global Cloud Analytics Market is estimated to reach 118.42 USD Billion by 2028.
The market stood at a revenue of 28.12 USD Billion in the year 2021, and expected to grow at a Compound Annual Growth Rate (CAGR) of 22.8%.
Furthermore, the increase in technological advancements is also anticipated to augment the growth of the Global Cloud Analytics Market, states Vantage Market Research, in a report, titled “Cloud Analytics Market Size, Share & Trends Analysis Report by Solution (Analytics Solutions, Hosted Data Warehouse Solutions, Cloud BI Tools), by Deployment Mode (Public Cloud, Private Cloud, Hybrid Cloud), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”
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Market Dynamics:
Driver: Increasing Trend of Digitalization and Massive Rise in Big Data to Stimulate Market Growth
The increase in trend of digitalization and massive rise in big data is anticipated to augment the Cloud Analytics Market during the forecast period. Data has subsequently become a crucial part of the smooth functioning of all the business operations across various industry verticals. With the growing data, the opportunity of analytics is expected to originate profitable outcomes for businesses rapidly. In this context of rapid transformation, data analytics and Cloud Analytics Market are not considered to be separate from each other. In order to adapt and benefit from the increasing digitalization, almost all the organizations are leveraging all the analytics tools and trying to drive the true value of information. Additionally, due to the presence of complex, large and unstructured data sets, technologies such as machine learning, deep learning and big data analytics have risen and are the biggest trends in analytics, with most of the organizations indulging in open AI hardware and software. Companies that are adopting the cloud with integration of capabilities of these technologies are bringing new capabilities to the market more quickly, and can innovate more easily, and scale more efficiently along with reducing technology risk. Furthermore, Cloud Analytics Market also offers organizations to scale analytics and avoid the expenses that are associated with on-premises data storage which is further expected to increase the demand for Cloud Analytics Market in the years to come.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Cloud Analytics market is predicted to grow at a CAGR of roughly 22.8% during the forecast period.
- The Cloud Analytics market was estimated to be worth roughly USD 28.12 Billion in 2021 and is expected to reach USD 118.42 Billion by 2028; based on primary research.
- On the basis of region, Asia-Pacific is projected to dominate the worldwide Cloud Analytics market.
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Driver: Increasing Data Connectivity through Hybrid and Multi-Cloud Environments to Drive the Market Growth
The increasing data connectivity through hybrid and multi-cloud environments across the globe is anticipated to augment the growth of the Global Cloud Analytics Market during the forecast period. This is owing to the increasing adoption of these environments by various organizations that need to process huge volumes of data, and requires large storage and processing and don’t want to invest in setting up a large IT infrastructure. Furthermore, the ease of access offered by cloud and online services during COVID-19 is also expected to increase the demand for the devices in the years to come. However, security and privacy concerns for confidential data and difficulties in running input/output-intensive applications may hamper the growth of the market in near future. Moreover, the increasing adoption of mobile apps due to the COVID-19 pandemic is further expected to support the growth of the market within the estimated timeframe.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the IT industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Cloud Analytics Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Asia Pacific Dominates the Global Cloud Analytics Market
Asia Pacific held the largest market share in 2021. The U.S. held the largest market share in North America in 2021. This is attributable to the well-established IT infrastructure coupled with presence of vendors who are exploring the use of AI and NLP technologies in the region. Furthermore, growing popularity of social media and the implementation of advanced analytical tools are also likely to support the regional growth of the market. Asia Pacific is expected to grow at a significant CAGR in Global Cloud Analytics Market and is likely to continue the same trend during the forecast period. This is attributable to the rising adoption of big data analytics tools and solutions in emerging economies such as China, and India in the region. Additionally, increasing industrial sectors and flourishing economy is also expected to support the growth of the market in near future.
List of Prominent Players in the Cloud Analytics Market:
- Google (US)
- Microsoft (US)
- IBM (US)
- Oracle (US)
- SAP (Germany)
- Salesforce (US)
- SAS Institute (US)
- TIBCO Software (US)
- Teradata (US)
- MicroStrategy (US)
- AWS (US)
- Sisense (US)
- Hewlett-Packard Enterprise (US)
- Cloudera (US)
- Atos (France)
- Hitachi ThoughtSpot (US)
- Vantara (US)
- Domo (US)
- Qlik (US)
- Good Data (US)
- Absolut data (US)
- Alteryx (US)
- Yellowfin (Australia)
- Infor (US)
- Guavus (US)
- Board International (Switzerland)
- Looker (US)
- Pyramid Analytics (Netherlands)
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Cloud Analytics Market Size, Share & Trends Analysis Report by Solution (Analytics Solutions, Hosted Data Warehouse Solutions, Cloud BI Tools), by Deployment Mode (Public Cloud, Private Cloud, Hybrid Cloud), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/cloud-analytics-market-773999
Recent Developments:
February, 2022: IBM announced key developments to help clients accelerate transformation with a series of new capabilities designed to modernize applications across hybrid cloud environments. These include plans to deliver IBM Z as-a-service on IBM Cloud for development and test, as well as additional tools for developing hybrid applications.
February, 2022: IBM announced announced it is teaming with SAP to provide technology and consulting expertise to make it easier for clients to embrace a hybrid cloud approach and move mission-critical workloads from SAP solutions to the cloud for regulated and non-regulated industries.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Cloud Analytics Market?
- How will the Cloud Analytics Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Cloud Analytics Market?
- What is the Cloud Analytics market drivers and restrictions?
- What will be the CAGR and size of the Cloud Analytics Market throughout the forecast period?
This market titled “Cloud Analytics Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size in 2021 | USD 28.12 Billion |
| Projected Market Size in 2028 | USD 118.42 Billion |
| CAGR Growth Rate | CAGR of 22.8% From 2022 – 2028 |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Solution ° Analytics Solutions ° Hosted Data Warehouse Solutions ° and Cloud BI Tools • Deployment Mode ° Public Cloud ° Private Cloud ° and Hybrid Cloud • Region ° North America ° Europe ° Asia Pacific ° Middle East & Africa ° Latin America |
| Region & Counties Covered | • North America ° U.S. ° Canada ° Mexico • Europe ° U.K ° France ° Germany ° Italy ° Spain ° Rest Of Europe • Asia Pacific ° China ° Japan ° India ° South Korea ° South East Asia ° Rest Of Asia Pacific • Latin America ° Brazil ° Argentina ° Rest Of Latin America • Middle East & Africa ° GCC Countries ° South Africa ° Rest Of Middle East & Africa |
| Companies Covered | • Google (US) • Microsoft (US) • IBM (US) • Oracle (US) • SAP (Germany) • Salesforce (US) • SAS Institute (US) • TIBCO Software (US) • Teradata (US) • MicroStrategy (US) • AWS (US) • Sisense (US) • Hewlett-Packard Enterprise (US) • Cloudera (US) • Atos (France) • Hitachi ThoughtSpot (US) • Vantara (US) • Domo (US) • Qlik (US) • Good Data (US) • Absolut data (US) • Alteryx (US) • Yellowfin (Australia) • Infor (US) • Guavus (US) • Board International (Switzerland) • Looker (US) • Pyramid Analytics (Netherlands) |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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