Cloud Analytics Market Expected To Grow With USD 128.89 Billion By 2030


 San Francisco, 10 Oct 2023: The Report Cloud Analytics Market Size, Share & Trends Analysis Report By Component, By Deployment, By Organization Size, By Application, By Industry Vertical, By Region, And Segment Forecasts, 2022 - 2030

The global cloud analytics market size is anticipated to reach USD 128.89 billion by 2030, exhibiting a CAGR of 22.32% over the forecast period, according to a new report published by Grand View Research, Inc. The growing trend of digitization and significant rise in big data is driving the adoption of cloud analytics solutions. Moreover, the increased data connectivity through multi-cloud and hybrid environments has resulted in the adoption of cloud analytics solutions in various industry verticals.

Incorporating analytics solutions and services into the cloud platform has allowed companies to stay competitive in the market and better control their business operations. Furthermore, it helps companies to reduce maintenance costs and expenses related to computation and data storage. The companies are focusing on producing innovative and easy-to-adapt solutions to help clients in their multi-cloud journey. For instance, in March 2022, Alteryx, Inc. announced the launch of Alteryx Analytics Cloud, an automated analytics platform. The platform offers no-code/ low-code capabilities that easily allow the extraction of insights and help businesses make informed decisions using data.

Enterprises of all sizes emphasize implementing business intelligence solutions into their operations to gain a competitive edge and collect, identify, exchange and preserve enormous data. The business intelligence solutions provide a simple and quick decision-making process. The key players focus on expanding their product portfolio through R&D or mergers and acquisitions. For instance, in July 2021, Atos SE announced the acquisition of Visual BI Solutions Inc., a business intelligence and cloud analytics solution provider in the U.S. The acquisition has allowed Atos SE to expand its service offerings and cater to the increasing demand from clients for analytics in the cloud.

Cloud analytics solutions offer numerous growth opportunities as it allows enterprises to manage large quantities of data by saving huge capital investment in hardware equipment and other tools. However, the increasing adoption of cloud technology is creating various data security problems, such as loss of industry-specific information and data theft creating concerns among enterprises of numerous industries.

Access Research Report of Cloud Analytics Market @ https://www.grandviewresearch.com/industry-analysis/cloud-analytics-market-report

Cloud Analytics Market Report Highlights 

  • In the component segment, cloud analytics solutions held nearly 68% of the revenue share in 2021. The growth is attributed to increasing demand for cloud analytics solutions such as cloud BI tools, enterprise information management, governance, risk and compliance, and enterprise performance management to gain insights
  • The private cloud segment achieved nearly 23% of the revenue share in 2021. The benefits, such as customization of services and higher control as the cloud infrastructure are dedicated to a single user organization that enables privacy and greater security, especially for large enterprises, are expected to fuel the growth
  • The SMEs achieved nearly 38% of the revenue share in 2021. The SMEs are adopting hybrid and public cloud as it is scalable, allowing for online and geographic expansion without impacting the budget
  • The BFSI segment held nearly 30% of the revenue share in 2021. The increasing competition in the BFSI sector has led companies to leverage cloud analytics to improve user experience

Cloud Analytics Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 25.71 billion

Revenue forecast in 2030

USD 128.89 billion

Growth rate

CAGR of 22.32% from 2022 to 2030

Base year for estimation

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

List of Key Players of Cloud Analytics Market

  • International Business Machines Corporation
  • Microsoft
  • Amazon Web Services, Inc.
  • QlikTech International AB
  • Sisense Inc.
  • GoodData Corporation.
  • Tableau Software, LLC,
  • Databricks
  • SAS Institute Inc.
  • Oracle
  • Google LLC

Access Press Release of Cloud Analytics Market @ https://www.grandviewresearch.com/press-release/global-cloud-analytics-market

 

Comments

Post a Comment

Popular posts from this blog

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein ...
Read more

Gas Detection Equipment Market Anticipated To Expand At A CAGR 9.7% From 2021 To 2028

  San Francisco, 5 May 2021:   The Report  Gas Detection Equipment Market  Size, Share & Trends Analysis Report By Product, By Technology (Infrared, Catalytic, PID), By End-use, By Region, And Segment Forecasts, 2021 - 2028 The global gas detection equipment market size is expected to reach USD 8.38 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 9.7% from 2021 to 2028. The market growth can be attributed to the growing awareness among governments regarding the harmful effects of greenhouse gases, coupled with their increased efforts toward protecting the environment. Major industries such as petroleum, oil, and gas, among others are needed to comply with safety and environmental regulations which are also major factors driving the market growth. Many companies are focused on introducing drone-based gas detection equipment, which is expected to create new opportunities for market growth in...
Read more