Analytics-as-a-Service Market by Services (Consulting Services, Managed Services, Support & Maintenance Services), Type (Descriptive Analytics, Diagnostic Analytics, Predictive Analytics), Solution, Deployment, Verticals - Global Forecast 2024-2030

Analytics-as-a-Service Market by Services (Consulting Services, Managed Services, Support & Maintenance Services), Type (Descriptive Analytics, Diagnostic Analytics, Predictive Analytics), Solution, Deployment, Verticals - Global Forecast 2024-2030

The Analytics-as-a-Service Market size was estimated at USD 16.54 billion in 2023 and expected to reach USD 20.82 billion in 2024, at a CAGR 26.98% to reach USD 88.08 billion by 2030.

Analytics-as-a-Service (AaaS) includes the provision of analytics software and operations through web-based technology. It allows companies to outsource their data analytics activities to a third-party provider rather than maintaining the infrastructure and personnel for in-house analytics. The increasing need for advanced technologies capable of handling high workloads through the cloud, alongside a growing demand for cost-effective analytics solutions is driving the adoption of the analytics-as-a-service market. Pervasive integration of the Internet of Things (IoT) and the widespread use of smartphones which facilitate the expansive data generation and the necessity for analytical insights is creating a platform for growth of the Analytics-as-a-Service market. Rising concerns about data security and privacy associated with Analytics-as-a-Service hamper the market's growth. The rapid proliferation of social media platforms and the rising popularity of mobile devices as tools for accessing and performing analytics create opportunities for market growth.

Regional Insights

In the Americas, the adoption of Analytics-as-a-Service (AaaS) is significant and growing due to the strong presence of major tech companies and a robust digital infrastructure. Many industries, including finance, healthcare, and retail, utilize AaaS to enhance decision-making processes, customer service, and operational efficiency. The region shows a rising interest in leveraging advanced analytics including, predictive analytics to gain insights into consumer behavior and market trends. The APAC region is experiencing rapid growth in the AaaS market due to increasing digital transformation in countries such as China, India, Japan, and South Korea. The demand for AaaS in APAC is driven by the growing e-commerce sector, expanding urbanization, and the rise of smart cities. However, there is variability in technology adoption rates and infrastructure capabilities across different countries, which can influence the integration and effectiveness of AaaS solutions. In Europe, stringent data protection regulations such as GDPR shape the AaaS market, necessitating solutions prioritizing data security and privacy. Cloud-based analytics services are strongly adopted across various manufacturing and automotive industries to drive efficiencies and innovation. The Middle East and Africa are gradually integrating AaaS solutions, influenced by increasing investments in ICT and potential transformations in industries including, oil and gas, transportation, and healthcare.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Analytics-as-a-Service Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Need for advanced technologies to initiate high workloads through the cloud
• Growing need for cost-effective analytics solutions
• Increasing incorporation of the Internet of Things (IoT) and the proliferation of smartphone

Market Restraints

• Concerns regarding data security and privacy

Market Opportunities

• Rapid increase in the number of social media sites which has surged the demand to track user interaction
• Growing popularity of mobile devices for analytics

Market Challenges

• Limited expertise in the analytical knowledge

Market Segmentation Analysis

• Services: Growing usage of consulting services for assessing the client's data infrastructure
• Deployment: Rising hybrid cloud deployment hybrid cloud as it offers flexibility and scalability

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Analytics-as-a-Service Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Analytics-as-a-Service Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

SAS Announces Global Distribution Agreement with TD SYNNEX to Enhance Solution Provider Channels

SAS entered into a comprehensive global distribution agreement with TD SYNNEX, a major distributor and solutions aggregator in the IT sector. Under this agreement, TD SYNNEX becomes the primary global distributor for SAS’s solution provider partners, marking a pioneering move by SAS to deploy its robust AI and analytics software, including the SAS Viya cloud platform, to select markets in the Americas, Europe, and Asia through a two-tier channel distribution model. This strategy aims to widen the accessibility of SAS’s advanced analytics solutions across various regions.

Strategic Expansion of Genpact and o9 Solutions Partnership Enhances AI-driven Supply Chain Resilience

Genpact announced the expansion of its collaboration with o9 Solutions to offer an innovative Planning-as-a-Service solution. This enhanced service leverages Genpact’s deep experience in digital operations and supply chain transformations across diverse industries, integrating it with o9’s cutting-edge generative AI and machine learning technologies. This partnership aims to equip businesses with advanced tools to effectively manage and adapt to persistent supply chain challenges, enhancing decision-making processes and operational efficiency.

Strengthening Cybersecurity: Accenture and Google Cloud Amplify their Global Partnership

Accenture PLC and Google Cloud have announced an enhancement of their partnership, aimed at bolstering cybersecurity measures for businesses globally. This collaboration combines Google Cloud’s state-of-the-art data analytics, AI, ML, and cybersecurity technologies with Accenture's reputation for security expertise. Together, they provide robust security programs and infrastructures that enable organizations to shield vital assets and escalate their cyber-defensive capabilities to counter ongoing security threats, thereby boosting corporate resilience and operational confidence.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Analytics-as-a-Service Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Analytics-as-a-Service Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Amazon Web Services, Inc., Atos SE, Capgemini SE, Dell Technologies Inc., GoodData Corporation, Google LLC, Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Microsoft Corporation, Microstrategy Incorporated, NTT DATA Inc., Oracle Corporation, Salesforce.com, Inc., SAP SE, SAS Institute Inc., Sisense Inc., Teradata Corporation, TIBCO Software Inc., and VMware, Inc..

Market Segmentation & Coverage

This research report categorizes the Analytics-as-a-Service Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Services
• Consulting Services
• Managed Services
• Support & Maintenance Services
• Type
• Descriptive Analytics
• Diagnostic Analytics
• Predictive Analytics
• Prescriptive Analytics
• Solution
• Customer Analytics
• Customer Behavior Analysis
• Customer Segmentation and Clustering
• Loyalty and Customer Experience Management
• Financial Analytics
• Asset and Liability Management
• Budgetary Control Management
• General Ledger Management
• Payables & Receivables Management
• Profitability Management

Market ing Analytics

Marketing Campaign Monitoring

Predictive Modeling

Product Or Service Development Strategies

Yield Management

Network Analytics

Intelligent Network Optimization

Traffic Management

Risk Analytics

Credit & Market Risk Management

Cyber Risk Management

Operational Risk Management

Sales Analytics

Sales Lifecycle Management

Sales Reps Efficiency Optimization

Supply Chain Analytics

Distribution & Logistics Optimization

Inventory Optimization

Manufacturing Analysis

Sales and Operations Planning

Supply Chain Planning & Procurement

Web & Social Media Analytics

Performance Monitoring

Search Engine Optimization

Social Media Management

Deployment

Hybrid Cloud

Private Cloud

Public Cloud

Verticals

Banking, Financial Services, & Insurance

Energy & Utility

Government

Healthcare & Life Sciences

Manufacturing

Media & Entertainment

Retail & Wholesale

Telecommunication & IT

Transportation & Logistics

Travel & Hospitality

Region

Americas

Argentina

Brazil

Canada

Mexico

United States

California

Florida

Illinois

New York

Ohio

Pennsylvania

Texas

Asia-Pacific

Australia

China

India

Indonesia

Japan

Malaysia

Philippines

Singapore

South Korea

Taiwan

Thailand

Vietnam

Europe, Middle East & Africa

Denmark

Egypt

Finland

France

Germany

Israel

Italy

Netherlands

Nigeria

Norway

Poland

Qatar

Russia

Saudi Arabia

South Africa

Spain

Sweden

Switzerland

Turkey

United Arab Emirates

United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year