Analytics as a Service Market Growing at 38.1% CAGR to Hit $126.48 Billion by 2026 | Growth, Share Analysis, Company Profiles

According to a recent report published by Allied Market Research, titled, "Analytics as a Service (AaaS) Market by Component, Analytics Type, Deployment Type, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026,"

The global analytics as a service market size was valued at $9.62 billion in 2018, and is projected to reach $126.48 billion by 2026, registering a CAGR of 38.1% from 2019 to 2026.

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Analytics is a method of discovering expressive as well as meaningful patterns by analyzing the datasets or resources that further comprise breaking of complex data into smaller parts. Analytics that initially started as Business Intelligence (BI) two decades ago have now converted the firms into data-oriented companies.

Analytics as a Service (AaaS) provided by cloud service providers assists users with their on demand analytical needs, in which the user pays for the use of analytical solutions as a service. Moreover, the development of technological tools has empowered solutions to be delivered as a service. Thus, Platform as a Service (PaaS), Software as a Service (SaaS), and Data as a Service (DaaS) are providing major growth opportunities to analytics service providers.

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Competitive Analysis:
The competitive environment of Analytics as a Service Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Analytics as a Service Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Amazon Web Services (AWS)
Atos SE
Google, Inc
Hewlett Packard Enterprise Development LP
Hitachi Solutions, Ltd
International Business Machines Corporation
Microsoft Corporation
Oracle Corporation
SAS Institute Inc and Many More

Region wise, Asia-Pacific is expected to witness a higher growth rate in the analytics as a service market during the forecast period. The growth of this segment is mainly attributed to rising demand among organizations to offer enhanced customer services for users. In addition, growing number of data analytics startups is also fueling the analytics as a service market demand in this region.

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According to the market analysis in North America, the market is projected to generate the highest revenue during the forecast period, owing to extensive demand for analytics platform and presence of major market players in this region.

According to analytics as a service market analysis, the public cloud segment dominated the market in 2018 and is expected to generate highest revenue during the forecast period. The growth of this segment is mainly attributed to the emerging technologies such as, IoT and machine learning. Moreover, access to real-time data is also fueling its demand across numerous industry verticals.

The solution segment dominated the analytics as a service market share in 2018 and it is expected to remain dominant throughout the forecast period. The growth of this segment is mainly attributed to its ability to enable organizations to gain insights for customers & operations and acquire optimal results.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.