Cloud Analytics Market by Component (Services, Solutions), Deployment (Hybrid, Private, Public), Application, Organization Size, Vertical - Global Forecast 2024-2030

Cloud Analytics Market by Component (Services, Solutions), Deployment (Hybrid, Private, Public), Application, Organization Size, Vertical - Global Forecast 2024-2030

The Cloud Analytics Market size was estimated at USD 48.75 billion in 2023 and expected to reach USD 56.89 billion in 2024, at a CAGR 17.10% to reach USD 147.20 billion by 2030.

Cloud analytics encompasses cloud-based solutions for data analysis involving data collection, integration, analysis, and presentation of cloud-stored data. These tools enable organizations to process large data volumes, facilitating data-driven decisions efficiently. Cloud analytics solutions are seeing increasing demand as businesses leverage data-driven insights to make informed decisions. This rise is driven by the need to optimize operations and enhance customer experiences in the market. The widespread adoption of cloud technologies across organizations has paved the way for the seamless integration of cloud analytics solutions. More companies are leveraging data and applications to the cloud, making incorporating analytics solutions into their operations more accessible. However, the primary concern for businesses considering cloud analytics is the security and privacy of their data. The risks related to data privacy breaches and unauthorized access can deter companies from adopting cloud-based solutions. Moreover, the continuous development of cloud infrastructure technology is making it more efficient, secure, and cost-effective. This advancement enables businesses to process large volumes of data quickly and at lower costs, enhancing cloud analytics' overall capability and adoption.

Regional Insights

In the Americas, particularly in the United States and Canada, businesses seek cloud analytics to enhance competitive advantage, improve operational efficiencies, and gain deeper customer insights. Cloud-native solutions that offer real-time analytics are particularly in demand. American enterprises adopt advanced, feature-rich analytics platforms emphasizing security and compliance. While similar in focus, Canadian companies also display a cautious approach towards data sovereignty and privacy issues. In Canada, cross-border collaborations and technology partnerships are growing to leverage advanced analytics solutions. In Europe, there is a strong demand for analytics solutions that comply with stringent data privacy regulations such as GDPR). The Middle East is focused on leveraging cloud analytics to support its vision for smart cities and digital economies. African markets are increasingly adopting cloud analytics to drive economic development and innovation. European businesses prioritize compliance and security, often opting for cloud providers that align with local regulations. In the Middle East, there's a more significant investment in analytics for large-scale infrastructure projects. Africa is witnessing a growing interest in scalable and cost-effective analytics solutions to address diverse economic needs. The APAC region has seen significant growth in digital transformation, driving the need for robust cloud analytics solutions. Businesses here require analytics tools to manage vast data, enhance customer experiences, and make data-driven decisions. In China, there's a strong demand for locally developed cloud services due to regulatory requirements and the preference for localized products. Japanese businesses prioritize high scalability and secure cloud solutions, while in India, cost-efficiency and ease of integration are key factors. India is seeing a surge of startups in the cloud analytics space, supported by government initiatives like Digital India.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Cloud Analytics 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

Growing need for advanced business intelligence tools in IT infrastructure
Increasing government initiatives for public cloud management and security services
Rising adoption of analytic solutions in the oil & gas sector

Market Restraints

Concerns associated with data privacy and security

Market Opportunities

Rise of remote work and the need for advanced cloud solutions to ensure data accessibility
Integration of AI & ML in analytics and continuous development in cloud infrastructure technology

Market Challenges

Complexities associated with integrating cloud analytics with existing system

Market Segmentation Analysis

Component: Integration of advanced suites and tools to enhance the analytics capabilities of data management process
Deployment: Increasing deployment of hybrid cloud analytics in organizations to optimize performance during critical operations

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 Cloud Analytics 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 Cloud Analytics 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

Informatica and Google Cloud Expand Partnership to Enhance Customer Data Analytics and Enterprise AI Applications

Informatica announced an expanded partnership with Google Cloud, introducing a new extension designed to enhance trusted customer data analytics and enterprise generative AI applications. This partnership simplifies and optimizes data management processes, enabling businesses to leverage advanced AI capabilities. Organizations can achieve more effective data insights and drive innovation through AI by integrating Informatica's Intelligent Data Management Cloud (IDMC) with Google Cloud's AI and analytics tools. This partnership underscores a commitment to providing reliable, scalable solutions for improved decision-making and operational efficiency.

IQVIA and Salesforce Strengthen Partnership to Enhance Life Sciences Cloud Solutions Globally

IQVIA and Salesforce have expanded their global partnership to enhance cloud analytics within the life sciences sector. By leveraging their combined expertise, the two companies intend to enhance data management, optimize health outcomes, and facilitate efficient clinical trials. This strategic partnership underscores their commitment to innovation and improving healthcare delivery through cutting-edge cloud technology.

Qlik Expands Cloud Footprint with Launch of New Japan Cloud Region

Qlik has broadened its cloud infrastructure by inaugurating a new cloud region in Japan. This strategic move aims to enhance service delivery and offer localized support to Qlik's growing customer base in the Asia-Pacific region. The new cloud region is expected to improve data sovereignty, performance, and compliance for Japanese organizations leveraging Qlik's cloud analytics platform. This expansion underscores Qlik's commitment to investing in its cloud capabilities to provide robust, scalable, and secure solutions to meet the increasing demand for advanced data analytics worldwide.

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 Cloud Analytics 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 Cloud Analytics Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Alteryx, Inc., Amazon Web Services, Inc., Cisco Systems, Inc., Databricks Inc., Domo Inc., Flexport Inc., Fractal Analytics Inc., Genpact Poland sp. z o.o., GoodData Corporation, Google LLC by Alphabet Inc., International Business Machines Corporation, Joyent, Inc., Klipfolio Inc., Microsoft Corporation, MicroStrategy Incorporated, Nutanix, Inc., Oracle Corporation, QlikTech International AB, Salesforce, Inc., SAP SE, SAS Institute Inc., Seagate Technology LLC, Sisense Ltd., Snowflake Inc., StarTree Inc., ThoughtSpot Inc., Wipro Limited, Yellowfin, Inc., and Zoho Corporation Pvt. Ltd..

Market Segmentation & Coverage

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

Component
Services
Infrastructure as a Service
Platform as a Service
Software as a Service
Solutions
Business Intelligence
Data Management
Data Warehousing
Predictive Analytics
Deployment
Hybrid
Private
Public
Application
Accounting & Finance
Customer Service
Human Resource
Marketing & Sales
Research & Development
Organization Size
Large Organizations
Small & Medium Enterprises
Vertical
Banking, Financial Services, & Insurance
Energy & Utilities
Government
Healthcare & life sciences
IT & Telecommunication
Manufacturing
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