Global Cloud Analytics Market (2020 to 2025) - Growing Use of Mobile Apps Due to the COVID-19 Pandemic Presents Opportunities
DUBLIN, Oct. 21, 2020 /PRNewswire/ -- The "Cloud Analytics Market by Solution (Analytics Solutions, Hosted Data Warehouse Solutions, and Cloud BI Tools), Deployment Mode (Public Cloud, Private Cloud, and Hybrid Cloud), Organization Size, Industry Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global cloud analytics market size is expected to grow from USD 23.2 billion in 2020 to USD 65.4 billion by 2025, at a CAGR of 23.0%.
Cloud computing environments, wherein the data is remotely stored in distributed storage systems, are making it possible to quickly scale-up or scale-down the IT infrastructure. These environments are also facilitating pay-as-you-go models. This means that organizations that want to process huge quantities of data, and have large storage and processing requirements, do not need to invest in setting up a large IT infrastructure. They can instead license the storage and processing capacity they need and only pay for the amounts they use. As a result, most big players that deal with large data volumes are leveraging the possibilities of cloud computing to deliver their solutions to enterprises. Traditional data warehouses and difficulties in running input/output-intensive applications are one of the major challenges in the cloud analytics market. Moreover, security and privacy concerns for confidential data acts as a key restraining factor in the market.
The current climate around COVID-19 has created challenges for every single industry and function by impacting customer traction, delivery models, production priorities, and budgets. Businesses are in unprecedented flux, and the only real way to assess and examine the impact of this situation is with data-driven insights. Analytics helps assess the impact of a business' environment and how mature or equipped it is to handle it. Analytics delivers accuracy with measurable outcomes, which helps gauge current state versus future state-with all of the variables in play. Analytics is the only way that large enterprises can take stock of the situation and systematically plan for the short term or long term. Even after the crisis, as organizations recover, analytics will redefine best practices with new practices that cut costs, increase productivity, or drive sales.
Among Solutions, the analytics solution segment to record the highest growth rate during the forecast period
By solution, the analytics solutions segment is expected to account for a higher market share during the forecast period. The high market share of analytics solutions is attributed to the increasing demand for the dashboards provided by various vendors, which helps businesses retain customers and identify new opportunities for future growth. The demand for cloud analytics solutions is increasing globally due to the increasing demand for offering enhanced customer support across major verticals.
These solutions are further capable of creating a detailed analysis of the data through the integration of various technologies. Cloud analytics solutions comprise cloud BI tools; hosted data warehouse solutions; complex event processing; Enterprise Information Management (EIM); Enterprise Performance Management (EPM); Governance, Risk, and Compliance (GRC); and analytics solutions. These solutions help businesses to improve their business decision-making ability. It provides a platform that has cloud-based analytical capabilities, which helps various industries remain competitive in the market. To handle huge data volumes from heterogeneous data sources, and to extract useful informational insights from the data corpus, businesses need to set up more servers and other hardware equipment, along with highly skilled IT personnel.
Cloud analytics solutions resolve work-intensive and resource-intensive issues as the on-demand characteristics eliminate the costs associated with setting up more servers and other hardware equipment required by the data centers of business organizations. The cloud analytics solution providers offer end-to-end solutions to cater to the industry-specific requirements of verticals, such as BFSI, healthcare, and life sciences, retail and consumer goods, research and education, government, media and entertainment, energy, telecom and IT, manufacturing, and other verticals that include infrastructure management, logistics, and transportation and automotive.
Among deployment mode, the hybrid cloud deployment segment to record the higher CAGR during the forecast period
The deployment mode in the cloud analytics market includes public cloud, private cloud, and hybrid cloud. Data is a valuable asset for formulating business strategies. Organizations are becoming highly dependent on data, which helps them gain a competitive advantage. Organizations are increasingly focusing on channelizing and harmonizing critical reference data. Enterprises have now started investing in maintaining a central repository of data for easy access and better analysis of data. Enterprises prefer the deployment mode based on their requirements regarding scalability and level of data security.
Among regions, North America to hold the largest market size during the forecast period
North America is expected to hold the largest market size in the global cloud analytics market during the forecast period. The US has emerged as the largest market, due to the increasing investments and a growing presence of vendors who are exploring the use of AI and NLP technologies for various applications. The US market widely adopts AI and NLP technologies in its business establishments and other verticals, catering to customers in a better way and continually improving business efficiencies. The country has advanced infrastructure, innovations, and initiatives necessary to evolve cloud analytics into robust solutions with innovative benefits.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Cloud Analytics Market
4.2 Market: Top Three Solutions
4.3 Market: by Region
4.4 Market in North America, by Vertical and Region
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Data Connectivity Through Hybrid and Multi-Cloud Environments
5.2.1.2 Cost Benefits of Cloud-Based Analytics Solutions
5.2.1.3 Growing Trend of Digitalization and Massive Rise in Big Data
5.2.1.4 Ease of Access Offered by Cloud and Online Services During COVID-19
5.2.2 Restraints
5.2.2.1 Security and Privacy Concerns for Confidential Data
5.2.3 Opportunities
5.2.3.1 Insufficient In-House It Expertise and Equipment
5.2.3.2 Growing Use of Mobile Apps Due to the COVID-19 Pandemic
5.2.4 Challenges
5.2.4.1 Traditional Data Warehouses
5.2.4.2 Difficulties in Running Input/Output-Intensive Applications
5.2.5 Cumulative Growth Analysis
5.3 Adjacent Markets
5.4 Case Study Analysis
5.5 Value Chain Analysis
5.6 Patent Analysis
5.7 Regulatory Implications
5.8 Ecosystem
5.9 Technology Analysis and Trends
5.10 Pricing Analysis
6 Cloud Analytics Market: COVID-19 Impact
7 Cloud Analytics Market, by Solution
7.1 Introduction
7.1.1 Solutions: COVID-19 Impact on the Market
7.1.2 Solutions: Market Drivers
7.2 Cloud Bi Tools
7.2.1 Data Integration Tools
7.2.2 Reporting and Online Analytical Processing Tools
7.2.3 Customer Relationship Management Software
7.3 Hosted Data Warehouse Solutions
7.4 Complex Event Processing
7.5 Enterprise Information Management
7.6 Enterprise Performance Management
7.7 Governance, Risk, and Compliance
7.8 Analytics Solutions
7.8.1 Predictive Analytics
7.8.2 Spatial Analytics
7.8.3 Video Analytics
7.8.4 Text Analytics
7.8.5 Speech Analytics
7.8.6 Web Analytics
7.8.7 Machine Analytics
8 Cloud Analytics Market, by Deployment Mode
8.1 Introduction
8.1.1 Deployment Mode: COVID-19 Impact on the Market
8.1.2 Deployment Mode: Market Drivers
8.2 Public Cloud
8.3 Private Cloud
8.4 Hybrid Cloud
9 Cloud Analytics Market, by Organization Size
9.1 Introduction
9.1.1 Organization Size: COVID-19 Impact on the Market
9.1.2 Organization Size: Market Drivers
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises
10 Cloud Analytics Market, by Vertical
10.1 Introduction
10.1.1 Verticals: COVID-19 Impact on the Market
10.1.2 Verticals: Market Drivers
10.2 Banking, Financial Services, and Insurance
10.3 Healthcare and Life Sciences
10.4 Retail and Consumer Goods
10.5 Research and Education
10.6 Government
10.7 Media and Entertainment
10.8 Energy
10.9 Telecommunications and It
10.10 Manufacturing
10.11 Other Verticals
11 Cloud Analytics Market, by Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East and Africa
11.6 Latin America
12 Competitive Landscape
12.1 Overview
12.2 Market Evaluation Framework
12.3 Market Share of Key Players in the Cloud Analytics Market, 2019
12.4 Historic Revenue Analysis of Key Market Players
12.4.1 Introduction
12.5 Key Market Developments
12.5.1 New Product Launches and Product Enhancements
12.5.2 Business Expansions
12.5.3 Partnerships, Agreements, Contracts, and Collaborations
13 Company Evaluation Matrix and Company Profiles
13.1 Overview
13.2 Company Evaluation Matrix Definitions and Methodology
13.3 Company Profiles
13.3.1 Sap
13.3.2 IBM
13.3.3 Oracle
13.3.4 Google
13.3.5 Microsoft
13.3.6 Teradata
13.3.7 Hewlett Packard Enterprise
13.3.8 Sas Institute
13.3.9 Microstrategy
13.3.10 Salesforce
13.3.11 Amazon Web Services
13.3.12 Tibco Software
13.3.13 Sisense
13.3.14 Atos
13.3.15 Hitachi Vantara
13.3.16 Cloudera
13.3.17 Thoughtspot
13.3.18 Qlik
13.3.19 Domo
13.3.20 Gooddata
13.3.21 Alteryx
13.3.22 Absolutdata
13.3.23 Infor
13.3.24 Yellowfin
13.3.25 Guavus
13.3.26 Looker
13.3.27 Board International
13.3.28 Pyramid Analytics
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/3zg5bc
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