Analytics as a Service market is expected to reach approximately over USD 40.1 Billion during the forecast period 2023-2030

Market Research Future published a half-cooked research report on Global Analytics as a Service Market Research Report Forecast till 2023

Market Highlights

The Analytics as a Service market industry is projected to grow from USD 9.2 Billion in 2023 to USD 40.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 27.82% during the forecast period (2023 - 2030). Analytical service facilitates better visibility and improves return on investment (ROI) on inbound and outbound marketing channels which is presumed to foster the market globally. The service also aids to supervise the data traffic on the run-time basis.

The Analytics as a Service market is segregated into the component, analytics type, deployment, organization size, and end-user.

By Component, the market is divided into solutions and services. The solution segment comprised of financial analytics, risk analytics, customer analytics, marketing analytics, sales analytics, web and social analytics, supply chain analytics, network analytics, and others

By service, the segment is further divided into consulting, managed service, and support & maintenance. The Analytics type is divided into predictive, prescriptive, diagnostics and descriptive. The deployment segment is divided into public, private, and hybrid. On the basis of organization size, the market is bifurcated as large enterprises and small and medium enterprises.

Lastly, the Analytics as a Service market is sub-divided into end user which BFSI, retail & e-commerce, government, healthcare & life sciences, manufacturing, IT & telecom, energy & utility, travel & hospitality, transportation & logistics, media & entertainment, and others.

Key Players

Some of the key players of Analytics as a Service market include IBM Corporation (U.S.), Oracle Corporation (U.S.), 1010 Data Inc. (U.S.), Hewlett-Packard Enterprise (U.S.), Google Inc.(U.S.), Amazon (U.S.), EMC Corporation (U.S.), Hitachi, Ltd.(Japan), SAS Institute (U.S.), Good Data Corporation (U.S.), and Cloudera, Inc. (U.S.)

Regional Analysis

Geographically, the Analytics as a Service market is categorized into four different regions such as North America, Asia Pacific, Europe, and the Rest of the World.

North America is presumed to have significant growth in the Analytics as a Service market. The U.S and Canada are the leading countries in the region. The U.S is expected to gain the largest market share. This is due to the presence of a large number of solution providers in the country. Asia Pacific countries such as Japan, India, and China are also anticipated to be the fastest growing region in the Analytics as a Service market over the forecast period. This is attributed to evolution and development of big data in the region. Additionally, increase in a number of social media applications has eventually increased the implementation of data analytics tools and is expected to drive the growth of the market over the review period.