Market Research Future Highlights:
The Analytics as a Service (AaaS) market refers
to the provision of analytics services through the cloud, where companies can
analyze their data to gain insights and make informed decisions. The AaaS
market includes various types of services, such as business intelligence,
predictive analytics, and data visualization.
The AaaS market has been growing rapidly in recent
years, fueled by the increasing adoption of cloud computing and the need for
businesses to derive insights from their data to stay competitive. The global
AaaS market size is expected to grow from USD 4.3 billion in 2020 to USD 38.35
Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 27.82% during the
forecast period.
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There are other
key players in this industry. They
are:
- Accenture
- USA
- Atos
SE - USA
- Google,
Inc - USA
- Hewlett
Packard Enterprise Development Lp - USA
- Hitachi
Solutions - Japan
- IBM -
USA
- Microsoft
- USA
- Oracle -
USA
- SAS
Institutes - USA
Regional Analysis:
The Analytics as a Service (AaaS) market is a
global market, with companies providing services and solutions to customers
across different regions. Here is a regional analysis of the AaaS market:
North America: North America is one of the largest
markets for AaaS, with the United States being the major contributor to the
market growth. The region has a highly developed cloud infrastructure, and
companies in various industries are adopting AaaS solutions to analyze their
data and gain insights. The presence of major AaaS providers such as Microsoft
Corporation, IBM Corporation, and Oracle Corporation is also driving the growth
of the market in this region.
Europe: Europe is another significant market for
AaaS, with countries such as the United Kingdom, Germany, and France leading
the market growth. The increasing adoption of cloud-based solutions and the
need for businesses to derive insights from their data are the major factors
driving the growth of the market in this region. Additionally, the increasing
investment by AaaS providers in the region is also contributing to the growth
of the market.
Asia Pacific: The Asia Pacific region is expected
to see the highest growth rate in the AaaS market during the forecast period.
Countries such as China, India, and Japan are witnessing a significant adoption
of AaaS solutions, driven by the growing awareness of the benefits of analytics
and the increasing availability of cloud infrastructure. The emergence of
several startups and small players providing AaaS solutions is also
contributing to the growth of the market in the region.
Rest of the World: The Rest of the World region,
which includes the Middle East, Africa, and Latin America, is also witnessing a
growing adoption of AaaS solutions. The increasing investment in cloud
infrastructure and the need for businesses to make informed decisions are the
major drivers of the market growth in this region. Additionally, the presence
of several emerging economies in the region is also creating opportunities for
AaaS providers to expand their market presence.
Market Segmentation:
The Analytics as a Service (AaaS) market can be
segmented based on various factors such as deployment model, organization size,
application, industry vertical, and geography. Here is a breakdown of the
market segmentation:
Deployment Model: a. Public Cloud b. Private Cloud
c. Hybrid Cloud
Organization Size: a. Small and Medium-sized
Enterprises (SMEs) b. Large Enterprises
Application: a. Customer Analytics b. Supply Chain
Analytics c. Financial Analytics d. Risk Analytics e. Marketing Analytics f.
Others
Industry Vertical: a. BFSI (Banking, Financial
Services and Insurance) b. Healthcare c. Retail d. Manufacturing e. Government
and Defense f. Telecom and IT g. Others
Geography: a. North America b. Europe c. Asia
Pacific d. Rest of the World
The segmentation of the AaaS market based on
deployment model helps in identifying the type of cloud infrastructure used to
provide AaaS solutions to customers. The organization size segmentation helps
in identifying the target customers for AaaS providers, whether they are small
and medium-sized enterprises or large enterprises. The application segmentation
helps in identifying the specific use cases where AaaS solutions can be
applied, such as customer analytics or financial analytics. The industry
vertical segmentation helps in identifying the specific industries where AaaS
solutions are in demand, such as BFSI or healthcare. Finally, the geography
segmentation helps in identifying the regional markets where AaaS providers can
target their solutions based on the demand and competition in the region.
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Analytics as a Service Industry Developments:
January: Gartner releases its top 10 data
and analytics trends for 2023, which includes trends such as emergent AI,
converged and composable ecosystems, and consumers become creators.
February: IBM announces the launch of its
new Watson Data Platform, which is designed to help businesses make better
decisions with data.
March: Google Cloud Platform launches
its new Analytics Hub, which provides a single place for businesses to store,
analyze, and share their data.
April: Microsoft Azure launches its new
Azure Databricks service, which is designed to help businesses build and deploy
data science and machine learning applications.
May: Amazon Web Services (AWS)
announces the launch of its new AWS Data Exchange, which provides a marketplace
for businesses to buy and sell data sets.
June: SAS Institute releases its new
SAS Viya 3.6, which includes a number of new features for AaaS, such as support
for augmented analytics and self-service data preparation.
July: GoodData releases its new
GoodData Platform 5.0, which includes a number of new features for AaaS, such
as support for real-time data streaming and embedded analytics.
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