The global cloud analytics market In 2021, the market for cloud analytics was estimated to be worth about $28.5 billion. By the end of 2032, the market is anticipated to have grown at a CAGR of 15.4% over the following ten years, with a value of nearly US$ 147.2 Bn. By the end of 2032, the global absolute dollar opportunity growth in the cloud analytics market is expected to reach US$ 112 Bn.
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The US dominates the Cloud Analytics market throughout the analysis period
The US cloud analytics market is expected to be valued at $51.3 billion by the end of 2032. Revenues through cloud analytics in the US grew at a compound annual growth rate of 22.7% during 2015-2021 and are expected to grow at a growth rate of 15.2% during forecast period. The dominance of the US in the cloud analytics market is attributed to advanced IT infrastructure and rapid innovations in providing cloud-based analytics solutions with the help of artificial intelligence and machine learning. They are used to provide solutions to clients in analyzing insights from huge sets of data. The absolute dollar growth opportunity in the US cloud analytics market is estimated at $38.7 billion by 2032.
“Key companies in the cloud analytics market are forming strategic alliances to provide analytics solutions to allow organizations to transform data into actionable insights.” Comments an analyst at Future Market Insights.
Cloud Analytics Market: Competition Insights
The major companies operating in the cloud analytics market are forming strategic partnerships to accelerate the development of cloud analytics and deploy analytics solutions across all sectors. Major companies operating in the cloud analytics market include IBM Corporation, Hexaware Technologies Limited, Oracle Corporation, Microsoft Corporation, Google, and Alphabet Inc. , and Salesforce.com, Inc. , and SAS Institute Inc. , Teradata Corporation, MicroStrategy Incorporated, The Hewlett Packard Enterprise Company, SAP SE, Atos, Cloudera, Hitachi Vantara Corporation, ThoughtSpot, Qilk, GoodData, Alteryx, Yellowfin, Pyramid Analytics, Board International, Hewlett-Packard Enterprise, AWS, Domo, Sisense, and Looker.
Here are some of the recent developments by the major Cloud Analytics providers:
- In February 2022, Teradata has partnered with Microsoft to integrate the Teradata Vantage data platform with Microsoft Azure. The goal of the partnership is to modernize the data analytics workload of companies, implement their cloud strategies and solve challenges in data analytics together.
- In January 2022, IBM Watson Advertising announces AI-powered weather analytics offerings for AWS data exchange. Weather data sets help users analyze how weather affects consumer buying across various categories and harness deep insights to help businesses make confident and insightful decisions.
- In November 2021Informatica, a leading cloud data management company, has launched state-of-the-art cloud analytics software on Microsoft Azure. The platform is provided to joint customers with Microsoft and Informatica PowerCenter, who need to migrate their on-premises data warehouse and ETL workloads to IDMC on Azure and Azure Synapse Analytics.
- In May 2020Oracle announces Oracle Analytics for Cloud HCM to deliver ready-to-use workforce analytics to Oracle HCM customers. Oracle Analytics for Cloud HCM strives to provide companies and analysts with greater insights into workforce composition and a comprehensive view of enterprise data.
Likewise, recent developments regarding companies involved in cloud analytics have been tracked by the team at Future Market Insights, available in the full report.
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More insights available
Future Market Insights, in its new presentation, provides an unbiased analysis of the Cloud Analytics market, presenting historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study reveals significant growth in the cloud analytics market in terms of solutions (Cloud BI tools, hosted data warehousing solutions, complex event handling, enterprise information management, enterprise performance management, governance, risk and compliance, analytics solutions), deployment type (general cloud, cloud private, hybrid cloud), enterprise size (SMEs, large corporations), vertical (BFSI, retail and consumer goods, healthcare and life sciences, media and entertainment, government, telecommunications and information technology, research and education, energy, manufacturing and others), cross Five regions (North America, Latin America, Europe, Asia Pacific, Middle East and Africa).
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