Meticulous Research® Releases In-Depth Report on Global Cloud Analytics Market Forecast

 

“Meticulous Research® Releases In-Depth Report on Global Cloud Analytics Market Forecast”

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Meticulous Research®, a leading global market research firm, has published an in-depth report titled “Cloud Analytics Market by Offering (Solutions, Services), Type (Predictive Analytics, Diagnostic Analytics, Prescriptive Analytics), Deployment Mode, Sector (BFSI, Retail & E-commerce, Healthcare & Life Sciences), and Geography – Global Forecast to 2031.”

 

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According to the report, the global cloud analytics market is anticipated to grow to $135.4 billion by 2031, achieving a compound annual growth rate (CAGR) of 19.8% from 2024 to 2031. Key drivers of this growth include increasing digitalization, the rise of big data technologies, enhanced connectivity via multi-cloud platforms, and the economic benefits associated with cloud-based solutions. Nonetheless, concerns around security and privacy may pose challenges to market expansion.

1.1.1        Growth Opportunities and Market Dynamics

The report identifies several promising opportunities within the cloud analytics market. Small and medium-sized enterprises (SMEs) are increasingly adopting cloud analytics solutions, driven by a need for customized and managed services. However, the entrenched use of traditional data warehouses remains a significant barrier. Emerging trends such as wearable medical devices and serverless computing are also shaping market dynamics.

1.1.2        Market Segmentation1.1.2.1           By Offering:

  • Solutions: Includes sales & marketing analytics, business intelligence, customer analytics, enterprise performance management, miscellaneous analytics, supply chain analytics, governance, risk, and compliance, and data warehouse modernization.
    • In 2024, solutions are expected to dominate, representing over 73.0% of the market, driven by the benefits of scalability, security, compliance, increased productivity, cost-efficiency, and improved customer insights.
  • Services: Encompasses professional and managed services.

1.1.2.2           By Type:

  • Descriptive Analytics: Expected to hold the largest market share (above 57.0%) in 2024, driven by the need to extract insights from historical data for sustainable business decisions.
  • Predictive Analytics: Projected to experience the highest CAGR, fueled by the adoption of big data, AI, ML technologies, and real-time analytic solutions.

1.1.2.3           By Deployment Mode:

  • Public Cloud: Predicted to lead with a market share of over 59.0% in 2024, owing to the shift towards remote work and the reliance on public cloud services by SMEs.
  • Hybrid Cloud: Anticipated to grow at the highest CAGR, driven by the need for scalability, agility, and cost-effective computing.

1.1.2.4           By Sector:

  • BFSI: Forecasted to hold the largest market share (above 14.0%) in 2024, driven by the need for efficient regulatory compliance management, digitalization, and the rise of fintech startups.
  • Healthcare & Life Sciences, Retail & E-commerce, Media & Entertainment, IT & Telecommunications, Government & Defense, Manufacturing, Energy & Utilities, Education, and Others: Other key sectors analyzed.

1.1.2.5           By Geography:

  • North America: Expected to dominate with a market share exceeding 43.0% in 2024, supported by strong government backing, advanced analytics technologies, and high technology adoption rates.
  • Asia-Pacific: Predicted to register the highest CAGR of 23.5%, driven by government initiatives, market players’ efforts to introduce cloud analytics solutions, and the growing adoption of cloud-managed services by SMEs.

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1.1.3        Key Players

The report highlights major market players, including Microsoft Corporation, IBM Corporation, Oracle Corporation, Google LLC, SAP SE, TIBCO Software Inc., Salesforce.com, SAS Institute Inc., Amazon Web Services Inc., Hewlett Packard Enterprise, MicroStrategy, Alteryx Inc., Atos SE, Sisense, and Cloudera Inc.

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

 

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