Technavio’s latest research report on the Cloud Analytics Market offers a comprehensive analysis of new product launches, the latest trends, drivers, and challenges. The cloud analytics market value is expected to grow by USD 34.16 billion, progressing at a CAGR of 20.12% from 2020 to 2025. 35% of the market’s growth will originate from North America. The US is the key market for cloud analytics in the region. The increasing demand for cloud-based applications will facilitate the cloud analytics market growth in North America.
Factors such as hybrid and multi-cloud setups will improve data connectivity which will notably drive the growth of the market. But the concerns about confidential data security and privacy will restrict the market growth. The cloud analytics market analysis report also provides detailed information on other upcoming trends that will have a far-reaching effect on the market growth.
The cloud analytics market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The cloud analytics market report includes information on the product launches, sustainability, and prospects of leading vendors including Alphabet Inc., Hewlett Packard Enterprise Co., Infor Inc., International Business Machines Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., SAP SE, Teradata Corp., and Zendesk Inc.
Few Companies with Key Offerings
- Alphabet Inc. – The company offers google cloud smart analytics solutions whose platform empowers everyone to get insights while eliminating constraints of scale, performance, and cost.
- Hewlett Packard Enterprise Co. – The company offers HPE services and solutions which is an edge-to-cloud platform with proven, workload-optimized products, solutions, and services.
- Infor Inc. – The company offers Brist software which is a democratized analytics infused with artificial intelligence.
The competitive scenario provided in the cloud analytics market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
- By Solution, the market is classified by Hosted Data Warehouse Solutions, Cloud BI Tools, Complex Event Processing, and Others. Cloud analytics market share growth by the hosted data warehouse solutions segment has been significant.
- By Geography, the market is classified as North America, Europe, APAC, MEA, and South America. North America will have the largest share of the market. PR Newswire