Cloud Analytics Market to Hit $128.89 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Sept. 27, 2022 /PRNewswire/ -- The global cloud analytics market size is anticipated to reach USD 128.89 billion by 2030, exhibiting a CAGR of 22.32 % over the forecast period, according to a new report published by Grand View Research, Inc. The growing trend of digitization and significant rise in big data is driving the adoption of cloud analytics solutions. Moreover, the increased data connectivity through multi-cloud and hybrid environments has resulted in the adoption of cloud analytics solutions in various industry verticals.

Key Industry Insights & Findings from the report:

• In the component segment, cloud analytics solutions held nearly 68% of the revenue share in 2021. The growth is attributed to increasing demand for cloud analytics solutions such as cloud BI tools, enterprise information management, governance, risk and compliance, and enterprise performance management to gain insights.
• The private cloud segment achieved nearly 23% of the revenue share in 2021. The benefits, such as customization of services and higher control as the cloud infrastructure are dedicated to a single user organization that enables privacy and greater security, especially for large enterprises, are expected to fuel the growth.
• The SMEs achieved nearly 38% of the revenue share in 2021. The SMEs are adopting hybrid and public cloud as it is scalable, allowing for online and geographic expansion without impacting the budget.
• The BFSI segment held nearly 30% of the revenue share in 2021. The increasing competition in the BFSI sector has led companies to leverage cloud analytics to improve user experience.

Read 131 page full market research report for more Insights, "Cloud Analytics Market Size, Share & Trends Analysis Report By Component, By Deployment, By Organization Size, By Application, By Industry Vertical, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Cloud Analytics Market Growth & Trends

Incorporating analytics solutions and services into the cloud platform has allowed companies to stay competitive in the market and better control their business operations. Furthermore, it helps companies to reduce maintenance costs and expenses related to computation and data storage. The companies are focusing on producing innovative and easy-to-adapt solutions to help clients in their multi-cloud journey. For instance, in March 2022, Alteryx, Inc. announced the launch of Alteryx Analytics Cloud, an automated analytics platform. The platform offers no-code/ low-code capabilities that easily allow the extraction of insights and help businesses make informed decisions using data.

Enterprises of all sizes emphasize implementing business intelligence solutions into their operations to gain a competitive edge and collect, identify, exchange and preserve enormous data. The business intelligence solutions provide a simple and quick decision-making process. The key players focus on expanding their product portfolio through R&D or mergers and acquisitions. For instance, in July 2021, Atos SE announced the acquisition of Visual BI Solutions Inc., a business intelligence and cloud analytics solution provider in the U.S. The acquisition has allowed Atos SE to expand its service offerings and cater to the increasing demand from clients for analytics in the cloud.

Cloud analytics solutions offer numerous growth opportunities as it allows enterprises to manage large quantities of data by saving huge capital investment in hardware equipment and other tools. However, the increasing adoption of cloud technology is creating various data security problems, such as loss of industry-specific information and data theft creating concerns among enterprises of numerous industries.

Cloud Analytics Market Segmentation

Grand View Research has segmented the global cloud analytics market report based on component, deployment, organization size, application, industry vertical, and region:

Cloud Analytics Market - Component Outlook (Revenue, USD Billion, 2018 - 2030)

• Solutions
• Services

Cloud Analytics Market - Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

• Public
• Private
• Hybrid

Cloud Analytics Market - Organization Size Outlook (Revenue, USD Billion, 2018 - 2030)

• SME
• Large Organizations

Cloud Analytics Market - Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Sales and Marketing
• Research & Development
• Customer Service
• Accounting & Finance
• Human Resource
• Others

Cloud Analytics Market - Industry Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

• BFSI
• IT & Telecommunication
• Manufacturing
• Healthcare & life sciences
• Government
• Energy & Utilities
• Others

Cloud Analytics Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa

List of Key Players of Cloud Analytics Market

• International Business Machines Corporation
• Microsoft
• Amazon Web Services, Inc.
• QlikTech International AB
• Sisense Inc.
• GoodData Corporation.
• Tableau Software, LLC,
• Databricks
• SAS Institute Inc.
• Oracle
• Google LLC

Check out more related studies published by Grand View Research:

• Cloud Computing Market - The global cloud computing market is expected to reach USD 1,554.94 billion by 2030, registering a CAGR of 15.7%, according to a new study conducted by Grand View Research, Inc. Cloud systems thrive at streamlining inter-organizational communication and providing a simplified alternative for managing corporate processes. Due to cost savings, flexibility and scalability, data security, data storage, and team collaboration, about 70% of firms have already shifted to cloud-based computing for part of their services. For instance, in October 2020, Microsoft Corporation joined with ZEISS Group to improve health care and manufacturing quality through data solutions. Together with the simplicity of deployment and lower total cost of ownership, these advantages are likely to raise cloud computing demand throughout the forecast period, driving the market growth.
• Cloud Managed Services Market - The global cloud managed services market size is expected to reach USD 82.51 billion by 2025, according to a study conducted by Grand View Research, Inc. The focus of enterprises on primary business operations is resulting into higher cloud managed services adoption. Business services, security services, network services, data center services, and mobility services are major categories in cloud managed services market. Implementation of these services will help enterprises to reduce IT and operations costs and will also enhance productivity of those enterprises.
• Cloud Gaming Market - The global cloud gaming market size is estimated to reach USD 20.94 billion by 2030, registering a CAGR of 45.8% from 2022 to 2030, according to a new report by Grand View Research, Inc. As cloud storage has gained a more secure position over onsite storage, this has affected the gaming industry. Through cloud gaming services, gamers can access high-quality interactive games remotely without bearing the additional cost of expensive computer systems. The growing number of gamers globally has directed affected the market.

Browse through Grand View Research's  Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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