Cloud Analytics Market Size, Share | Industry Report [2031]

Segments - Cloud Analytics Market by Solution (Analytics Solutions, Hosted Data Warehouse Solutions, and Cloud BI Tools), Deployment Mode (Public Cloud, Hybrid Cloud, and Private Cloud), Organization Size (SME and Large Organizations), Type (Descriptive Analytics, Diagnostics Analytics, Prescriptive Analytics, and Predictive Analytics), Application (Sales & Marketing, Research & Development, Customer Services, Human Resource, and Accounts & Finance), Industry Vertical (BFSI, IT & Telecommunication, Manufacturing, Healthcare & Life Science, Government, and Energy & Utilities), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

The global cloud analytics market size was USD 25.70 Bn in 2022 and is likely to reach USD 232.1 Bn by 2031, expanding at a CAGR of 22.36% during 2023–2031. The market growth is attributed to the increasing availability of cloud-based solutions at affordable prices.

Cloud analytics refers to the process of analyzing and storing data in the cloud to further use it to extract actionable business insights. It is a term for technological & analytical tools and techniques designed to extract massive data which can be categorized for easy availability over the web browser.

Business data computation is done using cloud technologies. Data processing is done on public and private clouds to evade the expenses of on-premises computing and data storage. On-demand business intelligence and data warehouses are the most commonly offered services by cloud analytics.

Data analytics is a tool of cloud analytics that has become a valuable asset for many businesses across various industries. This tool is used to improve business performance and generate greater revenue through industry insights. Moreover, machine learning, artificial intelligence, and deep learning are connected with cloud analytics.

COVID-19 pandemic has increased the demand for cloud analytics solutions during the lockdown, businesses experienced a shift toward digital platforms. Cloud analytics helped companies and businesses to make decisions in real time by gathering, analyzing, and presenting insights for better outcomes.

Market Trends, Drivers, Restraints, and Opportunities

Increasing adoption of multi-cloud and hybrid deployment in various industries is driving the market. Rising demand for big data technology is boosting the global cloud analytics market. Growing usage of Business Intelligence (BI) solutions across various businesses for gaining a competitive edge is expected to drive the market in the forecast period.

Security and privacy concerns about the confidential data of consumers and businesses are anticipated to hamper the market in the coming year. Data is transferred from several cloud providers and their multi-tenancy infrastructure is shared by the end-number of business organizations. This process creates various data security and privacy issues, restraining the cloud analytics market.

Insufficient in-house IT expertise and equipment are creating opportunities for the cloud analytics market. The majority of business organizations from various industries excluding IT and Telecommunications do not require IT personnel to manage the cloud technology which in turn creates prospects for cloud analytics.

Cloud analytics does not require huge capital and expenses and can manage large quantity data, which in turn, is increasing the demand for cloud analytics solutions while creating ample opportunities during the projection period.

Scope of Cloud Analytics Market Report

The report on the global cloud analytics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Cloud Analytics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2020 – 2021
Forecast Period	2023–2031
Segmentation	Solution (Analytics Solutions, Hosted Data Warehouse Solutions, and Cloud BI Tools), Deployment Mode (Public Cloud, Hybrid Cloud, and Private Cloud), Organization Size (SME and Large Organization), Type (Descriptive Analytics, Diagnostics Analytics, Prescriptive Analytics, and Predictive Analytics), Application (Sales & Marketing, Research & Development, Customer Service, Human Resource, and Accounts & Finance), and Industry Vertical (BFSI, IT & Telecommunication, Manufacturing, Healthcare & Life Science, Government, and Energy & Utilities)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Microsoft; Google; Oracle, IBM corporation, Salesforce, SAP, TIBCO Software, SAS Institute, Teradata, AWS, MicroStrategy; Hewlett-Packard Enterprise; Sisense; Atos Cloudera; Hitachi Vantara; ThoughtSpot; Qlik; Domo; GoodData; Alterryx; Absoultdata; Infor, Yellowfin, Guavus, Looker, Board International; Pyramid Analytics, Databricks; and Tableau Software, LLC.

Cloud Analytics Market Segment Insights

Based on the solution, the market is divided into analytics solutions, hosted data warehouse solutions, and cloud BI tools. The analytics solution segment is expected to expand at a significant growth rate during the projection period. The high market share of analytics solutions is increasing the demand for dashboards which helps businesses retain customers. The demand for cloud analytics solutions is increasing globally, due to enhanced customer support across major verticals and the increasing use of cloud accounting software for various use across different industries.

On the basis of deployment mode, the market is segregated into public cloud, hybrid cloud, and private cloud. The hybrid cloud segment is projected to register a considerable CAGR during the forecast period, owing to the multiple benefits and the combined service of private and public cloud deployment. Low-risk exposure, cost efficiency, and scalability offered by hybrid cloud are expected to grow the cloud analytics market in the forecast period.

In terms of organization size, the market is bifurcated into SMEs and large organizations. The large organization segment is expected to register a robust growth rate during the forecast period, due to the increasing adoption of cloud analytics to increase profitability and identify the performance area and shape business strategies.

Based on type, the cloud analytics market is segmented into descriptive analytics, diagnostics analytics, prescriptive analytics, and predictive analytics. The descriptive analytics segment is anticipated to grow at a significant growth rate during the projection period, due to the growing need for business organizations to extract insights from historical data to make strategic business decisions.

On the basis of the application, the market is categorized as sales & marketing, research & development, customer service, human resource, and accounts & finance. The sales and marketing segment is expected to account for major market revenue in the coming years. Rising trends for social analytics, text analytics, and increasing demand to get better insights into business for strategic planning are fueling the growth of the cloud analytics market.

Based on industry vertical, the cloud analytics market is segmented into BFSI, IT & telecommunication, manufacturing, healthcare & life science, government, and energy & utilities. The BFSI segment is expected to expand at a substantial growth rate during the forecast period. Increasing usage of cloud analytics in the BFSI sector for improving user experience, customer engagement, and customer targeting is boosting the growth of the market.

In terms of region, the global cloud analytics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period. Increasing adoption of new technologies, labor shortage, and rising labor cost is fueling companies to use the latest cloud analytics technology, driving the market growth for cloud analytics.

Asia Pacific region is anticipated to expand at a significant growth rate over the coming years, owing to high growth in the e-commerce sector and increasing demand for new technological advancements in the countries such as China, Japan, and India.

Segments

The global cloud analytics market has been segmented on the basis of

Solution

Analytics Solution
Hosted Data Warehouse Solution
Cloud BI Tools

Deployment Mode

Public Cloud
Hybrid Cloud
Private Cloud

Organization Size

SME
Large Organizations

Type

Descriptive Analytics
Diagnostics Analytics
Prescriptive Analytics
Predictive Analytics

Application

Sales & Marketing
Research & Development
Customer Service
Human Resources
Accounts & Finance

Industry Vertical

BFSI
IT & Telecommunication
Manufacturing
Healthcare & Life Science
Government
Energy & Utilities

Region

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Microsoft
Google
Oracle
IBM corporation
Salesforce
SAP
TIBCO Software
SAS Institute
Teradata
AWS
MicroStrategy
Hewlett-Packard Enterprise
Sisense
Atos Cloudera
Hitachi Vantara
ThoughtSpot
Qlik
Domo
GoodData
Alterryx
Absoultdata
Infor
Yellowfin
Guavus
Looker
Board International
Pyramid Analytics
Databricks
Tableau Software, LLC.

Competitive Landscape

Key players in the global cloud analytics market are Microsoft; Google; Oracle, IBM corporation, Salesforce, SAP, TIBCO Software, SAS Institute, Teradata, AWS, MicroStrategy; Hewlett-Packard Enterprise; Sisense; Atos Cloudera; Hitachi Vantara; ThoughtSpot; Qlik; Domo; GoodData; Alterryx; Absoultdata; Infor, Yellowfin, Guavus, Looker, Board International; Pyramid Analytics, Databricks; and Tableau Software, LLC.

In February 2022, Teradata announced a partnership with Microsoft to launch the platform of Teradata Vantage data with Microsoft Azure to streamline the workload of data analytics in businesses and to execute cloud strategies.
In January 2022, IBM announced the offering of AI-driven weather analytics to AWS. It helped users to analyze weather and consumer patterns to make confident and insightful decisions.

Cloud Analytics Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cloud Analytics Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Cloud Analytics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Cloud Analytics Market - Supply Chain
  4.5. Global Cloud Analytics Market Forecast
     4.5.1. Cloud Analytics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Cloud Analytics Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Cloud Analytics Market Absolute $ Opportunity
5. Global Cloud Analytics Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Cloud Analytics Market Size and Volume Forecast by Types
     5.3.1. Descriptive Analytics
     5.3.2. Diagnostics Analytics
     5.3.3. Prescriptive Analytics
     5.3.4. Predictive Analytics
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Cloud Analytics Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Cloud Analytics Market Size and Volume Forecast by Applications
     6.3.1. Sales & Marketing
     6.3.2. Research & Development
     6.3.3. Customer Service
     6.3.4. Human Resources
     6.3.5. Accounts & Finance
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Cloud Analytics Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Cloud Analytics Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Cloud Analytics Demand Share Forecast, 2019-2026
8. North America Cloud Analytics Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Cloud Analytics Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Cloud Analytics Market Size and Volume Forecast by Types
     8.4.1. Descriptive Analytics
     8.4.2. Diagnostics Analytics
     8.4.3. Prescriptive Analytics
     8.4.4. Predictive Analytics
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Cloud Analytics Market Size and Volume Forecast by Applications
     8.7.1. Sales & Marketing
     8.7.2. Research & Development
     8.7.3. Customer Service
     8.7.4. Human Resources
     8.7.5. Accounts & Finance
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Cloud Analytics Demand Share Forecast, 2019-2026
9. Latin America Cloud Analytics Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Cloud Analytics Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Cloud Analytics Market Size and Volume Forecast by Types
     9.4.1. Descriptive Analytics
     9.4.2. Diagnostics Analytics
     9.4.3. Prescriptive Analytics
     9.4.4. Predictive Analytics
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Cloud Analytics Market Size and Volume Forecast by Applications
     9.7.1. Sales & Marketing
     9.7.2. Research & Development
     9.7.3. Customer Service
     9.7.4. Human Resources
     9.7.5. Accounts & Finance
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Cloud Analytics Demand Share Forecast, 2019-2026
10. Europe Cloud Analytics Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Cloud Analytics Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Cloud Analytics Market Size and Volume Forecast by Types
     10.4.1. Descriptive Analytics
     10.4.2. Diagnostics Analytics
     10.4.3. Prescriptive Analytics
     10.4.4. Predictive Analytics
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Cloud Analytics Market Size and Volume Forecast by Applications
     10.7.1. Sales & Marketing
     10.7.2. Research & Development
     10.7.3. Customer Service
     10.7.4. Human Resources
     10.7.5. Accounts & Finance
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Cloud Analytics Demand Share Forecast, 2019-2026
11. Asia Pacific Cloud Analytics Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Cloud Analytics Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Cloud Analytics Market Size and Volume Forecast by Types
     11.4.1. Descriptive Analytics
     11.4.2. Diagnostics Analytics
     11.4.3. Prescriptive Analytics
     11.4.4. Predictive Analytics
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Cloud Analytics Market Size and Volume Forecast by Applications
     11.7.1. Sales & Marketing
     11.7.2. Research & Development
     11.7.3. Customer Service
     11.7.4. Human Resources
     11.7.5. Accounts & Finance
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Cloud Analytics Demand Share Forecast, 2019-2026
12. Middle East & Africa Cloud Analytics Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Cloud Analytics Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Cloud Analytics Market Size and Volume Forecast by Types
     12.4.1. Descriptive Analytics
     12.4.2. Diagnostics Analytics
     12.4.3. Prescriptive Analytics
     12.4.4. Predictive Analytics
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Cloud Analytics Market Size and Volume Forecast by Applications
     12.7.1. Sales & Marketing
     12.7.2. Research & Development
     12.7.3. Customer Service
     12.7.4. Human Resources
     12.7.5. Accounts & Finance
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Cloud Analytics Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Cloud Analytics Market: Market Share Analysis
  13.2. Cloud Analytics Distributors and Customers
  13.3. Cloud Analytics Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Microsoft
     13.4.2. Google
     13.4.3. Oracle
     13.4.4. IBM corporation
     13.4.5. Salesforce
     13.4.6. SAP
     13.4.7. TIBCO Software
     13.4.8. SAS Institute
     13.4.9. Teradata
     13.4.10. AWS
     13.4.11. MicroStrategy
     13.4.12. Hewlett-Packard Enterprise
     13.4.13. Sisense
     13.4.14. Atos Cloudera
     13.4.15. Hitachi Vantara
     13.4.16. ThoughtSpot
     13.4.17. Qlik
     13.4.18. Domo
     13.4.19. GoodData
     13.4.20. Alterryx
     13.4.21. Absoultdata
     13.4.22. Infor
     13.4.23. Yellowfin
     13.4.24. Guavus
     13.4.25. Looker
     13.4.26. Board International
     13.4.27. Pyramid Analytics
     13.4.28. Databricks
     13.4.29. Tableau Software, LLC.