Analytics as a Service Market Gaining Momentum with Positive External Factors

According to new research study on "Analytics as a Service Market," the report delivers comprehensive insights into the market's size, share, trends, and analysis. It encompasses a wealth of information regarding the industry's overview, growth patterns, demand dynamics, and global forecasts. Additionally, the report meticulously evaluates the competitive landscape, offering detailed profiles of key market players. Factors driving growth, market constraints, and recent industry developments are thoroughly examined within the report to provide a more profound understanding of the industry.
Advantage of requesting Sample PDF Report Before purchase to know about:
• Segmenting breakdown data by regions, types, manufacturers, and applications.
• Analysing and evaluating the current and future global status of market, encompassing production, revenue, usage, historical data, and forecasts.
• Identifying significant trends, drivers, and influencing factors on a global and regional scale.
• Presenting key manufacturers, their production, revenue, market share, and recent developments.
• Examining competitive advancements such as expansions, agreements, new product launches, and acquisitions in the market.
• Exploring the market potential and advantages in both global and key regional areas, assessing opportunities, challenges, limitations, and risks.

Analytics as a Service Market is valued at approximately USD 34.99 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 38.1% over the forecast period 2023-2030. Analytics as a Service offers businesses fully customizable and comprehensive business intelligence solutions that cover the entire data lifecycle, including data organization, analysis, and presentation. These solutions are specifically designed to empower non-technical professionals, enabling them to extract valuable insights from data and make well-informed decisions.

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The Analytics as a Service Market is expanding because of factors such as increasing Cloud Adoption and increasing awareness of IoT devices. Moreover, the growth of Software as a Service can be attributed to several factors, including increased adoption of cloud-based solutions, seamless integration with other tools, and the utilization of centralized data-driven analytics.

According to Statista in 2023, the global market for cloud applications was valued at USD 133.6 billion in 2021, and it is projected to reach USD 168.6 billion by 2025. The cloud applications software market is expected to grow at a compound annual growth rate (CAGR) of 4.8 percent. The growing demand for Analytics as a Service (AaaS) is driven by the rising number of IoT devices and the requirement for cost-effective analytics solutions. Organizations are seeking analytics capabilities without significant investments, leading to an increased demand for AaaS. According to Statista in 2022, the global count of Internet of Things (IoT) devices is projected to nearly triple, going from 9.7 billion in 2020 to over 29 billion by 2030. By 2030, China is expected to have the highest number of IoT devices, with approximately 5 billion consumer devices. In addition, technological advancements in analytics as a service and increasing demand for customized AaaS solutions would create a lucrative growth opportunity. However, data security concerns and a lack of skilled professionals stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Analytics as a Service Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. period, North America dominated the region during the forecast period owing to the factors such , rising adoption of cloud solutions, increased demand for advanced analytics capabilities and the need for cost-effective analytics solutions. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as the rising number of analytics firms and increased investments in emerging analytics companies within the region.

Major market player included in this report are:
Microsoft Corporation
Oracle Corporation
SAP societas Europaea
Hewlett Packard Enterprise Development LP
TIBCO Software Inc.
Amazon Web Services, Inc.
GoodData Corporation
SAS Institute Inc.
International Business Machines Corporation
Google LLC

Recent Developments in the Market:
In October 2021, Amazon launched the Search Analytics Dashboard, the latest tool that assists Brand Registry merchants in gathering insights from their product search performance. The Search Analytics Dashboard gives retailers access to a wealth of anonymized data that will help them better understand their consumers' interests and purchasing preferences for their products.
In April 2022 Kyndryl announced an expansion of its partnership with SAP, aimed at helping customers overcome digital transformation challenges. As part of this expanded collaboration, Kyndryl offered services that complemented the RISE with SAP solution. These services included proven migration tools, scalable offerings, AI-driven business data management, analytics solutions and application modernization.
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Component, Analytics Type, Deployment Type, Industry Vertical, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Component:
Solutions
Services

By Analytics Type:
Predictive Analytics
Prescriptive Analytics
Diagnostic Analytics
Descriptive Analytics

By Deployment Type:
Private Cloud
Public Cloud
Hybrid Cloud

By Industry Vertical:
BFSI
Retail
Government & Public Sector
IT & Telecommunication
Transportation & Logistics
Manufacturing
Others

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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Report Components
Market Overview: This section encapsulates the current market scenario and the industry's scope. A comprehensive segmental analysis is detailed, covering major segments such as product types, applications, and regions. Revenue and sales forecasts are also a part of this overview.
Competitive Landscape: Shedding light on the market's competitive landscape, this segment delivers a detailed manufacturer analysis, providing insights into individual players' revenue and sales figures. Additionally, it encompasses significant mergers, acquisitions, and industry investments.
Regional Analysis: Offering an overview of market revenue, sales, and shares across major regions and sub-regions, this section also delves into the pricing structure, sales growth rate, and other essential estimations.
Company Profiles: This section furnishes strategic business data about key firms operating within the Market landscape. It encompasses product specifications, revenue shares, and portfolios of these major companies.
Research Methodology: The research methodology involves the collection, filtration, and analysis of data by expert analysts. The research process also includes interviews with the right stakeholders, making primary research both relevant and practical. The secondary research casts a brief look into the supply chain analysis. The primary and secondary research techniques used in the report ensure a thorough analysis of the market.
Key Questions Market Research and Analysis Report
What is the current market size, both in terms of value and volume?
What is the historical growth rate of the market, and what are the projected growth rates for the future?
Who are the major players in the market, and what is their market share?
What are the market trends and dynamics influencing the industry?
What are the key drivers of market growth?
What are the challenges and barriers faced by market participants?
What are the emerging opportunities in the market?
What is the competitive landscape of the market?
What are the consumer preferences, behaviours, and buying patterns within the market?
What is the market segmentation, and how are different market segments performing?
What are the pricing trends and strategies in the market?
What are the distribution channels and their effectiveness in reaching the target audience?
What are the regulatory and legal factors impacting the market?

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