Analytics-as-a-Service Market
Growth Factors of Analytics-as-a-Service Market
The analytics-as-a-service market size was valued at USD 6.68 billion in 2022, and the market is now projected to grow from USD 8.07 billion in 2023 to USD 39.91 billion by 2030, exhibiting a CAGR of 25.7% during the forecast period of 2023-2030.
The imposition of lockdown during has increased remote work and boosted the demand for faster internet connectivity and data usage. The COVID-19 pandemic has optimistically affected the analytics-as-a-service market growth. The financial uncertainty and budget constraints in the wake of the pandemic led to delay or scale back their analytic initiatives that have impacted this market. The digitalization of various sectors has propelled demand for the system.
The analytics-as-a-service market share globally has been enhanced due to the easing adoption of social media applications among customers. The emergence of social media and advanced technology is majorly impacting the services. Social media apps generate a huge amount of data every second. This huge data mainly boosts the analytics services market. The growing need for businesses to analyze social media information for their own specific goals is also encouraging the market growth.
The growing implementation of cloud-based technological solutions among various organizations is the major trend in the market. This paves the way for modern and technically robust solutions that allow organizations to easily scale their analytics infrastructure up or down on the basis of their needs. This flexibility is valuable for handling changeable workloads and managing large datasets. Several companies across the globe are progressively using these services to improve the performance of various business aspects and processes, hence increasing the demand for the service.
Comprehensive Analysis of Analytics-as-a-Service Market
The analytics-as-a-service market and information & communication technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the information & communication technology industry. These segmentations are methodically segregated by types of component, analytics type, enterprise type, and industry. The component includes solutions and services. The analytics type is such as predictive, diagnostic, descriptive, and prescriptive. The enterprise types are SMEs and large enterprises. The industry is classified as BFSI, IT & telecommunication, retail & Ecommerce, manufacturing, transportation & logistics, government & public sector, and others.
The North American region is conducive to the global analytics-as-a-service market, leading to a recall of USD 1.56 billion due to the increasing utilization of big data and the rising integration of Internet of Things (IoT) devices.
The top players in the market play a crucial role in the information & communication technology industry assuring industrial prospectus growth and setting market standards. These players are Microsoft Corporation (U.S.), IBM Corporation (U.S.), SAP SE (Germany), Atos (France), Google (U.S.), Msys Technologies (U.S.), Cloudera (U.S.), Thoughtspot (U.S.), Qlik (France), and Domo (U.S.), Inc. (U.S.), these market players present a level-playing competitive landscape.
In June 2023, Microsoft announced their partnership with Moody’s Corporation to deliver next-generation data. Through this agreement they provide collaboration, research, analytics, and risk solutions for corporate intelligence and financial services.
Segmentation Table
Global Analytics-as-a-Service Market Scope
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 25.7% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Component
Solution
Services
By Analytics Type
Predictive
Diagnostic
Descriptive
Prescriptive
By Enterprise Type
Large Enterprises
Small & Medium Enterprises
By Industry
BFSI
IT & Telecommunication
Retail & E-commerce
Manufacturing
Transportation & Logistics
Government & Public Sector
Others (Education)
By Region
North America (By Component, Analytics Type, Enterprise Type, Industry and Country)
- U.S. (By Industry)
- Canada (By Industry)
- Mexico (By Industry)
- Brazil (By Industry)
- Argentina (By Industry)
- Rest of South America
- Germany (By Industry)
- France (By Industry)
- Italy (By Industry)
- Spain (By Industry)
- Russia (By Industry)
- Benelux (By Industry)
- Nordics (By Industry)
- Rest of Europe
- Turkey (By Industry)
- Israel (By Industry)
- GCC (By Industry)
- South Africa (By Industry)
- North Africa (By Industry)
- Rest of the Middle East & Africa
- China (By Industry)
- India (By Industry)
- Japan (By Industry)
- South Korea (By Industry)
- ASEAN (By Industry)
- Oceania (By Industry)
- Rest of Asia Pacific
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Analytics as a Service Key Players Market Share/Ranking, 2022
- 5. Global Analytics as a Service Market Size Estimates and Forecasts, By Segments, 2017-2030
- 5.1. Key Findings
- 5.2. By Component (USD)
- 5.2.1. Solution
- 5.2.2. Services
- 5.3. By Analytics Type (USD)
- 5.3.1. Predictive
- 5.3.2. Diagnostic
- 5.3.3. Descriptive
- 5.3.4. Prescriptive
- 5.4. By Enterprise Type (USD)
- 5.4.1. Large Enterprises
- 5.4.2. Small & Medium Enterprises
- 5.5. By Industry (USD)
- 5.5.1. BFSI
- 5.5.2. IT & Telecommunications
- 5.5.3. Retail & Ecommerce
- 5.5.4. Manufacturing
- 5.5.5. Transportation & Logistics
- 5.5.6. Government & Public Sector
- 5.5.7. Others (Education, etc.)
- 5.6. By Region (USD)
- 5.6.1. North America
- 5.6.2. South America
- 5.6.3. Europe
- 5.6.4. Middle East & Africa
- 5.6.5. Asia Pacific
- 6. North America Analytics as a Service Market Size Estimates and Forecasts, By Segments, 2017-2030
- 6.1. Key Findings
- 6.2. By Component (USD)
- 6.2.1. Solution
- 6.2.2. Services
- 6.3. By Analytics Type (USD)
- 6.3.1. Predictive
- 6.3.2. Diagnostic
- 6.3.3. Descriptive
- 6.3.4. Prescriptive
- 6.4. By Enterprise Type (USD)
- 6.4.1. Large Enterprises
- 6.4.2. Small & Medium Enterprises
- 6.5. By Industry (USD)
- 6.5.1. BFSI
- 6.5.2. IT & Telecommunications
- 6.5.3. Retail & Ecommerce
- 6.5.4. Manufacturing
- 6.5.5. Transportation & Logistics
- 6.5.6. Government & Public Sector
- 6.5.7. Others (Education, etc.)
- 6.6. By Country (USD)
- 6.6.1. United States
- 6.6.1.1. By Industry
- 6.6.2. Canada
- 6.6.2.1. By Industry
- 6.6.3. Mexico
- 6.6.3.1. By Industry
- 7. South America Analytics as a Service Market Size Estimates and Forecasts, By Segments, 2017-2030
- 7.1. Key Findings
- 7.2. By Component (USD)
- 7.2.1. Solution
- 7.2.2. Services
- 7.3. By Analytics Type (USD)
- 7.3.1. Predictive
- 7.3.2. Diagnostic
- 7.3.3. Descriptive
- 7.3.4. Prescriptive
- 7.4. By Enterprise Type (USD)
- 7.4.1. Large Enterprises
- 7.4.2. Small & Medium Enterprises
- 7.5. By Industry (USD)
- 7.5.1. BFSI
- 7.5.2. IT & Telecommunications
- 7.5.3. Retail & Ecommerce
- 7.5.4. Manufacturing
- 7.5.5. Transportation & Logistics
- 7.5.6. Government & Public Sector
- 7.5.7. Others (Education, etc.)
- 7.6. By Country (USD)
- 7.6.1. Brazil
- 7.6.1.1. By Industry
- 7.6.2. Argentina
- 7.6.2.1. By Industry
- 7.6.3. Rest of South America
- 8. Europe Analytics as a Service Market Size Estimates and Forecasts, By Segments, 2017-2030
- 8.1. Key Findings
- 8.2. By Component (USD)
- 8.2.1. Solution
- 8.2.2. Services
- 8.3. By Analytics Type (USD)
- 8.3.1. Predictive
- 8.3.2. Diagnostic
- 8.3.3. Descriptive
- 8.3.4. Prescriptive
- 8.4. By Enterprise Type (USD)
- 8.4.1. Large Enterprises
- 8.4.2. Small & Medium Enterprises
- 8.5. By Industry (USD)
- 8.5.1. BFSI
- 8.5.2. IT & Telecommunications
- 8.5.3. Retail & Ecommerce
- 8.5.4. Manufacturing
- 8.5.5. Transportation & Logistics
- 8.5.6. Government & Public Sector
- 8.5.7. Others (Education, etc.)
- 8.6. By Country (USD)
- 8.6.1. United Kingdom
- 8.6.1.1. By Industry
- 8.6.2. Germany
- 8.6.2.1. By Industry
- 8.6.3. France
- 8.6.3.1. By Industry
- 8.6.4. Italy
- 8.6.4.1. By Industry
- 8.6.5. Spain
- 8.6.5.1. By Industry
- 8.6.6. Russia
- 8.6.6.1. By Industry
- 8.6.7. Benelux
- 8.6.7.1. By Industry
- 8.6.8. Nordics
- 8.6.8.1. By Industry
- 8.6.9. Rest of Europe
- 9. Middle East & Africa Analytics as a Service Market Size Estimates and Forecasts, By Segments, 2017-2030
- 9.1. Key Findings
- 9.2. By Component (USD)
- 9.2.1. Solution
- 9.2.2. Services
- 9.3. By Analytics Type (USD)
- 9.3.1. Predictive
- 9.3.2. Diagnostic
- 9.3.3. Descriptive
- 9.3.4. Prescriptive
- 9.4. By Enterprise Type (USD)
- 9.4.1. Large Enterprises
- 9.4.2. Small & Medium Enterprises
- 9.5. By Industry (USD)
- 9.5.1. BFSI
- 9.5.2. IT & Telecommunications
- 9.5.3. Retail & Ecommerce
- 9.5.4. Manufacturing
- 9.5.5. Transportation & Logistics
- 9.5.6. Government & Public Sector
- 9.5.7. Others (Education, etc.)
- 9.6. By Country (USD)
- 9.6.1. Turkey
- 9.6.1.1. By Industry
- 9.6.2. Israel
- 9.6.2.1. By Industry
- 9.6.3. GCC
- 9.6.3.1. By Industry
- 9.6.4. North Africa
- 9.6.4.1. By Industry
- 9.6.5. South Africa
- 9.6.5.1. By Industry
- 9.6.6. Rest of MEA
- 10. Asia Pacific Analytics as a Service Market Size Estimates and Forecasts, By Segments, 2017-2030
- 10.1. Key Findings
- 10.2. By Component (USD)
- 10.2.1. Solution
- 10.2.2. Services
- 10.3. By Analytics Type (USD)
- 10.3.1. Predictive
- 10.3.2. Diagnostic
- 10.3.3. Descriptive
- 10.3.4. Prescriptive
- 10.4. By Enterprise Type (USD)
- 10.4.1. Large Enterprises
- 10.4.2. Small & Medium Enterprises
- 10.5. By Industry (USD)
- 10.5.1. BFSI
- 10.5.2. IT & Telecommunications
- 10.5.3. Retail & Ecommerce
- 10.5.4. Manufacturing
- 10.5.5. Transportation & Logistics
- 10.5.6. Government & Public Sector
- 10.5.7. Others (Education, etc.)
- 10.6. By Country (USD)
- 10.6.1. China
- 10.6.1.1. By Industry
- 10.6.2. India
- 10.6.2.1. By Industry
- 10.6.3. Japan
- 10.6.3.1. By Industry
- 10.6.4. South Korea
- 10.6.4.1. By Industry
- 10.6.5. ASEAN
- 10.6.5.1. By Industry
- 10.6.6. Oceania
- 10.6.6.1. By Industry
- 10.6.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Microsoft Corporation
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. IBM Corporation
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. SAP SE
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Atos
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Google
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Msys Technologies
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Cloudera
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Thoughtspot
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Qlik
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Domo
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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