Analytics as a Service Market Size, Share, Trends, Growth, Segmentation and Forecast

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.

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.

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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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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.

Some of the key enterprise analytics as a service industry players profiled in the report include 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.

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