Market overview of the global cloud analytics market
The market research analysts predict the cloud analytics market to grow at a CAGR of approximately 21% until 2020. The cloud analytics market is expanding rapidly as it finds utility in many industries. The emergence of easy implementation of cloud technology and its integration with analytics and BI tools drives this market.
To improve customer experience, it is important for organizations to analyze huge amounts of data generated from social media, television, and connected devices. Thus, organizations are looking for cloud solutions that offer real-time analysis of unstructured data to aid their decision making.
What is cloud analytics and how it is useful?
Cloud analytics is a service model in which one or more key elements of data analytics are provided through a public, private or hybrid cloud. Cloud analytics solutions offer high-end analysis of data stored in the cloud. Several factors, including the continuous growth of structured and unstructured data necessities the deployment of cloud analytics.
Organizations are shifting to cloud-based analytical solutions as these provide better visibility apart from regular monitoring of online traffic, and overall presence of the end-user organization. Cloud analytics also offers great ROI for tracking inbound and outbound marketing campaigns.
Market segmentation of the global cloud analytics market by application
Further segmentation and analysis of the global analytics market
The global analytics market is projected to grow at a CAGR of more than 25% over the next four years. The use of the social media for conversations and the increasing availability of cloud technology largely drive the global analytics market.
- Predictive analytics
- Text analytics
- Web analytics
- Video analytics
- Speech analytics
Geographical segmentation of the global cloud analytics market
The cloud analytics market in the EMEA region is undergoing significant transformation as a result of changing attitudes in enterprises towards cloud services in Middle East countries. The EMEA region accounts for approximately 26% of this market, and it will continue to grow during the forecast period.
Vendor analysis of the global cloud analytics market
The global cloud analytics market is witnessing the entry of many cloud computing and big data analytics vendors that are competing with the traditional and on-premise vendors in the market. The core cloud computing vendors in the market will look to expand their reach with many mergers and acquisitions during the forecast period.
The other prominent vendors of this market include Actuate, Adaptive Insights, BIME, Birst, Cloud9, Exafort, GoodData, Google, Host Analytics, Indicee, Infor, Informatica, Information Builders, Jaspersoft, Kognitio, MicroStrategy, Newvem, Panorama Software, PivotLink, Qlik Technologies, Rackspace Hosting, Razorsight, SAS Institute, Tableau Software, Teradata, Tibco Software, and VMware.
Key questions answered in the report
- What are the key factors driving the global analytics market?
- What are the key market trends impacting the growth of the global analytics market?
- What are the various opportunities and threats faced by the vendors in the global analytics market?
- Market shares for APAC, Americas, and EMEA?
- Key outcome of the five forces analysis on the global analytics market?
- Growth forecast of the global analytics market?