NEW YORK, July 13, 2016 /PRNewswire/ -- The global analytics-as-a-service market size is estimated to grow from USD 4.76 billion in 2016 to USD 23.49 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 37.6%. There is increase in data traffic due to the exponential growth of big data, analytics, and other technological modules. Hence there is a huge demand for advanced analytical solution to analyze the data and get the actionable insights.
"The analytics-as-a-service solution market accounts for the largest market share during the forecast period"
The analytics-as-a-service market by solution is estimated to grow with the largest market share during the forecast period. These solutions are being used in various verticals and provide tremendous applications. For example, the financial analytics is being used for asset & liability management, budgetary control management, general ledger management, payables & receivables management, and profitability management.
"APAC is projected to grow at the highest rate during the forecast period"
North America holds the largest market share in 2016 and the trend is expected to continue in the coming years. The analytics-as-a-service market is showing strong positive trends in the region as several companies and industries are adopting analytics-as- a-service at various levels as a part of their strategy in order to strive in the market and to increase their productivity. The APAC market is expected to witness exponential growth and projected to be the fastest-growing region for the global analytics-as-a-service market. This is due to the rising demand for analytics-as-a-service solutions and services in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:
- By Company Type: Tier 1: 30%, Tier 2: 10%, and Tier 3: 60%
- By Designation: C-level: 20%, Director level: 30%, and Others: 50%
- By Region: North America: 60%, Europe: 10%, APAC: 30%,
The various key vendors profiled in the report are as follows:
1. International Business Machine Corporation (U.S.)
2. Oracle Corporation (U.S.)
3. Computer Science Corporation (U.S.)
4. Hewlett-Packard Enterprise (U.S.)
5. Google Incorporation (U.S.)
6. SAS Institute (U.S.)
7. Amazon Web Service (U.S.)
8. EMC Corporation (U.S.)
9. Gooddata (U.S.)
10. Microsoft Corporation (U.S.)
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the analytics-as-a-service market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes new product launches, partnerships, agreements & collaborations, mergers & acquisitions, and expansions.
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