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Analytics as a Service Market Size to Surpass USD 39.91 billion by 2030, at a CAGR of 25.7%

Written by Customer Service on . Posted in Mergers And Acquisitions.

As per the report by Fortune Business Insights, the global Analytics as a Service Market Size is projected to reach USD 39.91 billion by 2030, at a CAGR of 25.7% during the forecast period.

Analytics as a Service Market

Forecast, 2023 – 2030
Forecast, 2023 – 2030

Pune,India, Nov. 27, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights, global Analytics as a Service Market Size was valued at USD 6.68 billion in 2022 and is 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.

Analytics as a Service provides access to software and data analysis tools via cloud and helps in data organization, analysis, and visualization. The market growth is being driven by the surging deployment of cloud-based technology by several enterprises.


Key Industry Development-

September 2023 – Cloudera inked a strategic collaboration agreement with AWS (Amazon Web Services). The deal would allow Cloudera to leverage the latter’s services for providing consistent innovation and reduced costs to customers.


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Key Takeaways-

  • Analytics as a Service Market is expected to flourish & reach USD 39.91 Billion in 2030.
  • With data breaches and cyberattacks on the rise, there are growing concerns about the privacy and security of sensitive data.
  • The emergence of social media applications and advanced technology is one of the major factors impacting analytics services.
  • Analytics as a Service Market Size in North America was USD 1.56 Billion 2022.


Discover the Leading Players Featured in the Report-

“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), Domo (U.S.)”


Report Scope & Segmentation-

Report Coverage Details
Forecast Period 2023 to 2030
Forecast Period 2023 to 2030 CAGR 25.7%
2030 Value Projection USD 39.91 Billion
Base Year 2022
Analytics as a Service Market Size in 2022 USD 6.68 Billion
Historical Data for 2017 to 2021
No. of Pages 150
Segments covered Component, Analytics, Enterprise Type, Industry,


Browse Complete Report Details- https://www.fortunebusinessinsights.com/analytics-as-a-service-market-106604


Drivers and Restraints-

Rising Adoption of Social Media Applications to Boost Industry Expansion

The analytics as a service market growth is being driven by the increasing adoption of advanced technology and social media applications. This is due to the huge amount of data generated by these platforms per second, which businesses deploy for achieving their goals.

However, rising concerns associated with data privacy may hinder industry expansion to a considerable extent.


Leading Segments Covered in this Report-

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)


Regional Insights:

North America Dominates Owing to Surging Adoption of Big Data

North America holds the largest analytics as a service market share globally. The region was valued at USD 1.56 billion in 2022. This is due to the surging adoption of IoT devices and big data in the region.

Europe is set to exhibit steady growth over the estimated period. The growth is being driven by the presence of numerous startups and service providers in the region.


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Competitive Landscape:

Leading Companies Focus on Mergers and Acquisitions to Increase Global Presence

Prominent industry players adopt various strategies to expand their global presence in analytics as a service sector. Some of these steps include acquisitions, product developments, mergers, and partnerships. Besides, companies are devising effective marketing strategies for consolidating their market share.


FAQs

How big is the Analytics as a Service Market?

Analytics as a Service Market size was USD 6.68 Billion in 2022. It is expected to reach USD 39.91 Billion by 2030.

How fast is the Analytics as a Service Market growing?

The Analytics as a Service Market will exhibit a CAGR of 25.7% during the forecast period, 2023-2030


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About Us-

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

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