Market Research Future published a half-cooked research report on “Global Cloud Analytics Market Research Report - Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The cloud analytics market is rising pervasively over the past couple of years mainly due to the increasing number of business, worldwide. The technology is empowering the businesses to grow exponentially without worrying about the scalar size and the speed the data gets accumulated with or the challenges its bringing along.
Owing to the vital role of cloud analytics play, contributing to the growth of the businesses, its market is growing pervasively with the rapid pace. The proliferation of connected & smart devices, social networks, internal applications, and the scalar size data they generate, escalate the market on the global platform. Similarly, growing businesses augment the market demand for cloud analytics.
Recognizing the traction, the market is witnessing currently; Market Research Future (MRFR) in its recently published study report asserts that the global cloud analytics market will reach to USD 26 Bn. by 2023, posting an 18% CAGR during the assessment period 2017 – 2023.
Besides, to the factors fostering the market growth include technological advancements and the augmenting uptake of cloud analytics. On the other hand, factors such as safety and security concerns brought about due to the cloud analytics still being in the nascent stage, coupled with the reluctance of the market players for investments inhibit the market growth.
Global Cloud Analytics Market – Segmentations
The MRFR analysis is segmented into six key dynamics: -
By Region : North America, Europe, Asia Pacific (APAC), and Rest-of-the-World.
Global Cloud Analytics Market- Geographical Analysis
The North America region leads the global cloud analytics market with the largest market share. The market is growing due to the technical advancements coupled with the well- established infrastructures in the region which is favorable for the development of the technology. North America is expected to retain its dominance during the forecast period, witnessing augmenting uptake backed by the government’s programmes encouraging the advancements in cloud technologies.
The Asia Pacific cloud analytics market is expected to register the highest CAGR in the next six years, emerging as a lucrative market growing rapidly. The market growth attributes to the extensive demand for the deployment of advanced cloud analytics technologies that can provide a comprehensive support and real-time access to the data that can empower enterprises to make faster business decisions, understanding the business scenario quickly.
Also, the aggressively growing market in India, expanding due to the government’s efforts to promote Digital India Program, is contributing to the market growth in the region to an extent.
Global Cloud Analytics Market – Competitive Analysis
Cloud Analytics market is competitive & fragmented due to the presence of several matured key players and new entrants churning the market competition. Through the acquisition, strategic partnership, expansion, product/technology launch &collaboration, these players try to gain competitive advantage. Substantial investments are transpired in the R&D to develop a completely different technology compared to their competition.
Some of the eminent players leading the market include Oracle Corporation (US), SAP SE (Germany), Microsoft Corporation (US), Hewlett Packard Enterprise (US), IBM Corporation (US), SAS Institute Inc (US), Teradata Corporation (US), Google Inc (US), Informatica (US), Salesforce Inc (US), Tibco Software Inc (US) and Microstrategy Inc (US)
August 27, 2018 – VMware, Inc. (US), a subsidiary of Dell Technologies providing cloud computing and platform virtualization software and services announced the acquisition of CloudHealth Technologies (US), a cloud analytics and management start-up for its unique services that offer business analysis and manage the cost, usage, security, and performance of private and public cloud computing options.
September 04, 2018 – AppFolio, Inc. (US), a leading global provider of cloud-based business software solutions in the real estate and legal sectors announced the acquisition of WegoWise, Inc., (US) a provider of cloud-based utility analytics software for approximately 700,000 units, most of which are multi-family.
With utility management being a top priority for large portfolio property owners and managers, the acquisition is projected to serve as a building block for a future utility management Value+ Service to be offered to AppFolio real estate customers.