Analytics as a Service Market Research Report – Forecast to 2027

Global Analytics as a Service Market Research Report: by Component (Solutions and Services), by Analytics Type (Predictive, Prescriptive, and Others), by Deployment, by Organization Size, and by End-User – Forecast till 2027

ID: MRFR/ICT/0699-HCR | February 2021 | Region: Global | 110 pages

Please note that the assessment period of report has been updated from 2017-2023 to 2020-2027. Cordially fill the sample form for updated data.

Market Overview:


The analytics as a service industry works off of the cloud. It allows people to use various business analytical tools needed to extrapolate data and information from data. But analytics as a service industry allows users to store this data. They can then retrieve the data at a later date for future analysis and extrapolation. Data analysis is often necessary to make key and informed business decisions.


analytics as a service industry operate entirely off of artificial intelligence (AI). It uses ‘smart’ algorithms that extract and store data based on certain algorithms and patterns. Thus, in this sense, the AI.’learns’ which information will be important to the user in the future and acts accordingly.


It’s the fact that the Internet is increasingly being used for a variety of tasks and services that’s driving growth in the analytics as a service industry. Many businesses are recognizing the need for and the usefulness of analytics as a service, especially in the area of social media. This is the reason why they are investing heavily in it.


The Compound Annual Growth Rate (CAGR) for the analytics as a service industry is projected to be 23.3% for the next three years.


Source: MRFR analysis:                                      


The global market for Analytics as a Service is expected to reach USD 30 billion at a 35% CAGR over the forecast period 2017-2023.


COVID-19 analysis


The analytics as a service market was enjoying healthy growth before the COVID-19 pandemic. Governments had already recognized the usefulness of this technology and were passing legislation to maket it easier for companies to adopt market analytics services into their regular business operations.


The pandemic has just forced governments to enact laws and pass legislation in favor of analytics as a service. The reason being that this industry supports doing business with as little human contact as possible. There may be even greater opportunities for growth in the analytics as a service industry once the global population has developed herd immunity to the COVID virus. The reason is that the emphasis on remote working is here to stay.


Market dynamics


Drivers:


One of the main drivers behind the breakneck speed growth in the analytics as a service industry is a fact that more and more businesses around the world are becoming acquainted with IoT. they are also becoming more comfortable with using the new devices and technologies that are emerging as the Internet is evolving.


Opportunities


Some opportunities in the analytics as a service market include the increased need for businesses to understand the ever-changing consumer behavior patterns that influence buying behavior. Because this behavior is increasingly becoming more complex, businesses need to consult large databases that use driven AI to help them isolate the data that will uncover new growth areas and new markets.


Restraints


Believe it or not, not all companies are happily embracing analytics as a service. Indeed, the analytics as a service market is facing some major restraints that are acting as ‘hurdles’ in terms of universal adoption and usage. These are:



  • Structure - the algorithms that the AI use tend to produce data models that are far too complex for the average business person to understand. For example, these models tend to include complex bar graphs, pie charts, and mathematical equations.


  • Culture - businesses that embrace data and rely on its extrapolation and analysis tend to overcomplicate things. For example, they will trust the data models that analytics as a service industry They will not stop to consider if the data and the resulting models are up-to-date or make any sense in the context of their respective industries.


  • Methodology - these models tend to be complex. The companies that use them may fail to leverage the usefulness of these models and their data largely because they lack the infrastructure to do so.


Challenges


There are many challenges in the adoption of analytics as a service industry. These tend to be centered around the need to sync all data sources to make sure that they operate in harmony. Also, another huge hurdle to widespread adoption is the fact that there just aren’t enough people who are trained to understand and interpret the data that these complex models tend to generate.


It can also be hard to glean meaningful information from the data since professionals may not always know which data is relevant and/or useful.


Cumulative growth analysis


The analytics as a service industry is expected to grow healthily. It’s expected to be a 30 billion US Dollar market by 2023.


Technology analysis


The technologies that power the analytics as a service industry industry are constantly improving. For example, predictive hardware is constantly improving. This is key for analytics as a service because it uses algorithms to predict future phenomena. Another great technological boost for this industry is the improvement in the databases used to store this data. These are NoSQL databases.


Segment overview


By service


The analytics as a service industry is expected to help those businesses that sell various services and products. They can use vast amounts of diverse and complex data to come up with information that is easier to understand. This will also help them make better-informed decisions and predictions of the market.


Also, the fact that this industry is broken down into the following categories of consulting managed service, and support and maintenance means that analytics as a service can continue to focus on the analytical part of data extraction and storage.


By vertical


Many companies in many industries use analytics as a service industry. Some of these are financial services companies, companies that manage risk. BFSI, e-commerce, retail, government, healthcare, etc...


Regional analysis


The analytics as a service industry is facing the strongest growth in the following regions:



  • North America

  • Asia Pacific

  • Europe

  • The rest of the world


The strongest growth in the services analytics market has been in the North American region. The reason being the strong concentration of solutions providers who need the type of complex data and data models that analytics as a service can generate. However, the Asia-Pacific market is clocking the strongest growth of all of the regions in the world. The nations that dominate in this market are India, China, South Korea, and Japan. India’s fast economic growth is also the main contributor.


Competitive landscape


There is a lot of competition in the global analytics market. One of the main reasons for this is the fact that tremendous growth in the industry is presenting many opportunities for handsome profit potential for companies in the industry.


A major key player in the services analytics market is Amazon Web Services. This global major uses big data to help it better understand the changing nature of consumer buying behavior. This makes it easier for the marketing team to create marketing campaigns that will successfully sell its brands.


There are other key players in this industry. They are:



  • Accenture - USA

  • Atos SE - USA

  • Google, Inc - USA

  • Hewlett Packard Enterprise Development Lp - USA

  • Hitachi Solutions - Japan

  • IBM - USA

  • Microsoft - USA

  • Oracle - USA

  • SAS Institutes - USA


Report overview


Many companies around the world are finding that they need to use analytics as a service because the increasing usage of the IoT is complicating consumer buying behavior. Governments were already passing legislation to facilitate the transition to this technology. COVID-19 only accelerated this trend.


The technologies that drive growth in this industry are constantly maturing and this provides many opportunities for analytics as a service provider.



Frequently Asked Questions (FAQ) :


The global analytics as a service market is poised to register a market value of USD 30 billion at a CAGR of approximately 35% over the review period (2017-2023).

The increasing demand for analytics as a service for data management, coupled with the growing adoption of IoT technology, is creating opportunities for market players.

The global analytics as a service market is analyzed on the basis of type and application, wherein the IT and telecom application segment is expected to witness maximum demand over the review period.

It’s expected to grow by 35% a year until 2023. The market size is expected to be more than 30 billion US Dollars.

Companies are increasingly using analytics as a service for data analysis to help them understand the behavior of consumers in the ever-complex world that the IoT is creating.

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Architecture

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Analytics as a Service Market

5 Industry Overview of Global Analytics as a Service Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Analytics as a Service Market by Component

7.1 Introduction

7.2 Solutions

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Services

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

8. Global Analytics as a Service Market by Analytics Type

8.1 Introduction

8.2 Predictive Analytics

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2020-2027

8.3 Prescriptive Analytics

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

8.4 Diagnostics Analytics

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast by Region, 2020-2027

8.5 Descriptive Analytics

8.5.1 Market Estimates & Forecast, 2020-2027

8.5.2 Market Estimates & Forecast by Region, 2020-2027

9. Global Analytics as a Service Market by Deployment

9.1 Introduction

9.2 Public

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Region, 2020-2027

9.3 Private

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast by Region, 2020-2027

9.4 Hybrid

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Region, 2020-2027

10. Global Analytics as a Service Market by Organization Size

10.1 Introduction

10.2 Large Enterprises

10.2.1 Market Estimates & Forecast, 2020-2027

10.2.2 Market Estimates & Forecast by Region, 2020-2027

10.3 Small & Medium Enterprises

10.3 1 Market Estimates & Forecast, 2020-2027

10.3.2 Market Estimates & Forecast by Region, 2020-2027

11. Global Analytics as a Service Market by End-User.

11.1 Introduction

11.2 BFSI

11.2.1 Market Estimates & Forecast, 2020-2027

11.2.2 Market Estimates & Forecast by Region, 2020-2027

11.3 Retail & E-commerce

11.3 1 Market Estimates & Forecast, 2020-2027

11.3.2 Market Estimates & Forecast by Region, 2020-2027

11.4 Government

11.4.1 Market Estimates & Forecast, 2020-2027

11.4.2 Market Estimates & Forecast by Region, 2020-2027

11.5 Healthcare & Life Sciences

11.5 1 Market Estimates & Forecast, 2020-2027

11.5.2 Market Estimates & Forecast by Region, 2020-2027

11.6 Manufacturing

11.6.1 Market Estimates & Forecast, 2020-2027

11.6.2 Market Estimates & Forecast by Region, 2020-2027

11.7 Energy & Utility

11.7 1 Market Estimates & Forecast, 2020-2027

11.7.2 Market Estimates & Forecast by Region, 2020-2027

11.8 IT& Telecom

11.8.1 Market Estimates & Forecast, 2020-2027

11.8.2 Market Estimates & Forecast by Region, 2020-2027

11.9 Travel & Hospitality

11.9 1 Market Estimates & Forecast, 2020-2027

11.9.2 Market Estimates & Forecast by Region, 2020-2027

11.10 Transportation & Logistics

11.10.1 Market Estimates & Forecast, 2020-2027

11.10.2 Market Estimates & Forecast by Region, 2020-2027

11.11 Media & Entertainment

11.11.1 Market Estimates & Forecast, 2020-2027

11.11.2 Market Estimates & Forecast by Region, 2020-2027

11.12 Others

11.12.1 Market Estimates & Forecast, 2020-2027

11.12.2 Market Estimates & Forecast by Region, 2020-2027

12. Global Analytics as a Service Market by Region

12.1 Introduction

12.2 North America

12.2.1 Market Estimates & Forecast, 2020-2027

12.2.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.2.3 Market Estimates & Forecast by End-User, 2020-2027

12.2.4 Market Estimates & Forecast by Deployment, 2020-2027

12.2.5 Market Estimates & Forecast by End-User, 2020-2027

12.2.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.2.7 U.S.

12.2.7.1 Market Estimates & Forecast, 2020-2027

12.2.7.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.2.7.3 Market Estimates & Forecast by Component, 2020-2027

12.2.7.4 Market Estimates & Forecast by Deployment, 2020-2027

12.2.7.5 Market Estimates & Forecast by End-User, 2020-2027

12.2.7.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.2.8 Canada

12.2.8.1 Market Estimates & Forecast, 2020-2027

12.2.8.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.2.8.3 Market Estimates & Forecast by Component, 2020-2027

12.2.8.4 Market Estimates & Forecast by Deployment, 2020-2027

12.2.8.5 Market Estimates & Forecast by End-User, 2020-2027

12.2.8.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.3 Europe

12.3.1 Market Estimates & Forecast, 2020-2027

12.3.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.3.3 Market Estimates & Forecast by Component, 2020-2027

12.3.4 Market Estimates & Forecast by Deployment, 2020-2027

12.3.5 Market Estimates & Forecast by End-User, 2020-2027

12.3.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.3.7 Germany

12.3.7.1 Market Estimates & Forecast, 2020-2027

12.3.7.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.3.7.3 Market Estimates & Forecast by Component, 2020-2027

12.3.7.4 Market Estimates & Forecast by Deployment, 2020-2027

12.3.7.5 Market Estimates & Forecast by End-User, 2020-2027

12.3.7.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.3.8. France

12.3.8.1 Market Estimates & Forecast, 2020-2027

12.3.8.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.3.8.3 Market Estimates & Forecast by Component, 2020-2027

12.3.8.4 Market Estimates & Forecast by Deployment, 2020-2027

12.3.8.5 Market Estimates & Forecast by End-User, 2020-2027

12.3.8.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.3.9. U.K

12.3.9.1 Market Estimates & Forecast, 2020-2027

12.3.9.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.3.9.3 Market Estimates & Forecast by Component, 2020-2027

12.3.9.4 Market Estimates & Forecast by Deployment, 2020-2027

12.3.9.6 Market Estimates & Forecast by Component, 2020-2027

12.3.9.7 Market Estimates & Forecast by Organization Size, 2020-2027

12.4 Asia Pacific

12.4.1 Market Estimates & Forecast, 2020-2027

12.4.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.4.3 Market Estimates & Forecast by Component, 2020-2027

12.4.4 Market Estimates & Forecast by Deployment, 2020-2027

12.4.5 Market Estimates & Forecast by Component, 2020-2027

12.4.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.4.7 China

12.4.7.1 Market Estimates & Forecast, 2020-2027

12.4.7.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.4.7.3 Market Estimates & Forecast by Component, 2020-2027

12.4.7.4 Market Estimates & Forecast by Deployment, 2020-2027

12.4.7.5 Market Estimates & Forecast by Component, 2020-2027

12.4.7.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.4.8 India

12.4.8.1 Market Estimates & Forecast, 2020-2027

12.4.8.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.4.8.3 Market Estimates & Forecast by Component, 2020-2027

12.4.8.4 Market Estimates & Forecast by Deployment, 2020-2027

12.4.8.5 Market Estimates & Forecast by Component, 2020-2027

12.4.8.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.4.9 Japan

12.4.9.1 Market Estimates & Forecast, 2020-2027

12.4.9.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.4.9.3 Market Estimates & Forecast by Component, 2020-2027

12.4.9.4 Market Estimates & Forecast by Deployment, 2020-2027

12.4.9.5 Market Estimates & Forecast by End-User, 2020-2027

12.4.9.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.4.10 Rest of Asia Pacific

12.4.10.1 Market Estimates & Forecast, 2020-2027

12.4.10.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.4.10.3 Market Estimates & Forecast by Component, 2020-2027

12.4.10.4 Market Estimates & Forecast by Deployment, 2020-2027

12.4.10.5 Market Estimates & Forecast by End-User, 2020-2027

12.4.10.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.5 Rest of the World

12.5.1 Market Estimates & Forecast, 2020-2027

12.5.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.5.3 Market Estimates & Forecast by Component, 2020-2027

12.5.4 Market Estimates & Forecast by Deployment, 2020-2027

12.5.5 Market Estimates & Forecast by End-User, 2020-2027

12.5.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.5.7 The Middle East & Africa

12.5.7.1 Market Estimates & Forecast, 2020-2027

12.5.7.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.5.7.3 Market Estimates & Forecast by Component, 2020-2027

12.5.7.4 Market Estimates & Forecast by Deployment, 2020-2027

12.5.7.5 Market Estimates & Forecast by End-User, 2020-2027

12.5.7.6 Market Estimates & Forecast by Organization Size, 2020-2027

12.5.8 Latin Countries

12.5.8.1 Market Estimates & Forecast, 2020-2027

12.5.8.2 Market Estimates & Forecast by Analytics Type, 2020-2027

12.5.8.3 Market Estimates & Forecast by Component, 2020-2027

12.5.8.4 Market Estimates & Forecast by Deployment, 2020-2027

12.5.8.5 Market Estimates & Forecast by End-User, 2020-2027

12.5.8.6 Market Estimates & Forecast by Organization Size, 2020-2027

13. Company Landscape

14. Company Profiles

14.1 IBM Corporation (U.S.)

14.1.1 Company Overview

14 1.2 Product/Business Segment Overview

14.1.3 Financial Updates

14.1.4 Key Developments

14.2 Oracle Corporation (U.S.)

14.2.1 Company Overview

14.2.2 Product/Business Segment Overview

14.2.3 Financial Updates

14.2.4 Key Developments

14.3 1010 Data Inc. (U.S.)

14.3.1 Company Overview

14.3.2 Product/Business Segment Overview

14.3 3 Financial Updates

14.3.4 Key Developments

14.4 Hewlett-Packard Enterprise (U.S.)

14.4.1 Company Overview

14.4.2 Product/Business Segment Overview

14.4 3 Financial Updates

14.4.4 Key Developments

14.5 Google Inc.(U.S.)

14.5.1 Company Overview

14.5.2 Product/Business Segment Overview

14.5.3 Financial Updates

14.5.4 Key Developments

14.6 Amazon (U.S.)

14.6.1 Company Overview

14.6.2 Product/Business Segment Overview

14.6.3 Financial Updates

14.6.4 Key Developments

14.7 EMC Corporation (U.S.)

14.7.1 Company Overview

14.7.2 Product/Business Segment Overview

14.7.3 Financial Updates

14.7 4 Key Developments

14.8 Hitachi, Ltd.(Japan)

14.8.1 Company Overview

14.8.2 Product/Business Segment Overview

14.8 3 Financial Updates

14.8.4 Key Developments

14.9 SAS Institute (U.S.)

14.9.1 Company Overview

14.9.2 Product/Business Segment Overview

14.9.3 Financial Updates

14.9.4 Key Developments

14.10 Good data Corporation (U.S.)

14.10.1 Company Overview

14.10.2 Product/Business Segment Overview

14.10.3 Financial Updates

14.10.4 Key Developments

14.11 Cloudera, Inc. (U.S.)

14.11.1 Company Overview

14.11.2 Product/Business Segment Overview

14.11.3 Financial Updates

14.11 4 Key Developments

15 Conclusion

LIST OF TABLES

Table1 World Population by Major Regions (2020 To 2027)

Table2 Global Analytics as a Service Market: By Region, 2020-2027

Table3 North America Analytics as a Service Market: By Country, 2020-2027

Table4 Europe Analytics as a Service Market: By Country, 2020-2027

Table5 Asia-Pacific Analytics as a Service Market: By Country, 2020-2027

Table6 Middle East & Africa Analytics as a Service Market: By Country, 2020-2027

Table7 Latin America Analytics as a Service Market: By Country, 2020-2027

Table8 Global Analytics as a Service by Analytics Type Market: By Regions, 2020-2027

Table9 North America Analytics as a Service by Analytics Type Market: By Country, 2020-2027

Table10 Europe Analytics as a Service by Analytics Type Market: By Country, 2020-2027

Table11 Asia-Pacific Analytics as a Service by Analytics Type Market: By Country, 2020-2027

Table12 Middle East & Africa Analytics as a Service by Analytics Type Market: By Country, 2020-2027

Table13 Latin America Analytics as a Service by Analytics Type Market: By Country, 2020-2027

Table14 Global Analytics as a Service by Industry Market: By Regions, 2020-2027

Table15 North America Analytics as a Service by Industry Market: By Country, 2020-2027

Table16 Europe Analytics as a Service by Industry Market: By Country, 2020-2027

Table17 Asia-Pacific Analytics as a Service by Industry Market: By Country, 2020-2027

Table18 Middle East & Africa Analytics as a Service by Industry Market: By Country, 2020-2027

Table19 Latin America Analytics as a Service by Industry Market: By Country, 2020-2027

Table20 North America Analytics as a Service for Industry Market: By Country, 2020-2027

Table21 Europe Analytics as a Service for Industry Market: By Country, 2020-2027

Table22 Asia-Pacific Analytics as a Service for Industry Market: By Country, 2020-2027

Table23 Middle East & Africa Analytics as a Service for Industry Market: By Country, 2020-2027

Table24 Global Analytics Type Market: By Region, 2020-2027

Table25 Global Industry Market by Region, 2020-2027

Table26 Global Industry Market by Region, 2020-2027

Table27 North America Analytics as a Service Market, By Country

Table28 North America Analytics as a Service Market, By Analytics Type

Table29 North America Analytics as a Service Market, By Product

Table30 Europe Analytics as a Service Market, By Product

Table31 Europe Analytics as a Service Market, By Analytics Type

Table32 Asia Pacific Analytics as a Service Market, By Country

Table33 Asia Pacific Analytics as a Service Market, By Analytics Type

Table34 Asia Pacific Analytics as a Service Market, By Product

Table35 The Middle East & Africa: Analytics as a Service Market, By Country

Table36 The Middle East & Africa Analytics as a Service Market, By Analytics Type

Table37 The Middle East & Africa Analytics as a Service Market, By Product

Table38 Latin America: Analytics as a Service Market, By Country

Table39 Latin America Analytics as a Service Market, By Analytics Type

Table40 Latin America Analytics as a Service Market, By Product

LIST OF FIGURES

FIGURE 1 Global Analytics as a Service Market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global Analytics as a Service Market

FIGURE 4 Value Chain of Global Analytics as a Service Market

FIGURE 5 Share of Global Analytics as a Service Market in 2020, by country (in %)

FIGURE 6 Global Analytics as a Service Market, 2020-2027,

FIGURE 7 Sub segments of Analytics Type

FIGURE 8 Global Analytics as a Service Market size by Analytics Type, 2020

FIGURE 8 Share of Global Analytics as a Service Market by Analytics Type, 2020 TO 2027

FIGURE 9 Global Analytics as a Service Market size by Product, 2020

FIGURE 10 Share of Global Analytics as a Service Market by Product, 2020 TO 2027

FIGURE 11 Global Analytics as a Service Market size by Industry, 2020

FIGURE 12 Share of Global Analytics as a Service Market by Industry, 2020 TO 2027