Analytics as a Service Market Overview:
The analytics as a service market size is projected to grow from USD 9.2 Billion in 2023 to USD 40.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 27.82% during the forecast period (2023 – 2030).
Analytics as a service (AaaS) provides analytical solutions using a cloud platform. This service works off of the cloud. It helps in various business analytics tools that require extrapolation of data, information from data, and stores them. It also retrieves the data for future analysis as this data is required to make essential business decisions. Moreover, this industry operates off of artificial intelligence (AI). This service found applications in various businesses. Social media is the major one in recognizing the usage of analytics as a service.
Click Here to Get Sample Premium Report @
Key Companies in the Analytics as a Service market include,
- Accenture – USA
- Atos SE – USA
- Hewlett Packard Enterprise Development Lp – USA
- Hitachi Solutions – Japan
- IBM – USA
- Microsoft – USA
- Oracle – USA
- SAS Institutes – USA, among others
Rising internet usage for various tasks and services is propelling market growth. Growing usage of data analytics for improving the performance of various aspects of business like sales, demand forecasting, and raw materials procurement in decision making is fostering the market growth. The increasing adoption of cloud-based solutions is rising demand for AaaS in the coming years. Rising demand for analytical solutions in a wide range of applications like predicting electricity consumption, trade market, traffic trend predictions is accelerating the market growth. Increasing usage of Aaas in the demand sensing of products in the e-commerce and retail sector is boosting the growth of the market.
The analytics as a service market opportunities are rising need for businesses to understand the changing lifestyle of consumer behavior patterns will fuel the market growth.
The analytics as a service market is segmented into four types based on the component, analytics type, deployment, and end-user.
Component Segmentation: The analytics as a service market components are bifurcated into solutions and services.
Analytics Type Segmentation: Based on the analytics type, the market is sectioned into four types such as predictive analytics, prescriptive analytics, diagnostic analytics, and descriptive analytics.
Deployment Segmentation: By deployment, the analytics market is trifurcated into public, private, and hybrid.
End-user Segmentation: Based on the end-user, the analytics as a service market is partitioned into various forms such as BFSI, retail & e-commerce, government, manufacturing, energy & utility, travel & hospitality, IT & telecom, and others.
Based on the latest research, the analytics as a service market based on the region is divided into four major regions like Asia-Pacific, Europe, North America, and the Rest of the world. Out of these regions, North America is holding the highest market share due to various associations and organizations like the cloud-native computing foundation, and the national cloud technologies association. Moreover, several health care organizations and government agencies joining the development of analytical solutions are fueling the market growth in this region.
The analytics as a service market key companies are Accenture, Microsoft, IBM, SAS institutes, Google, and others.
Download Sample PDF Copy of this Report to understand structure of the complete report (Including Full TOC, Table & Figures) @
As per the latest report, the analytics as a service market forecast that this service will grow at a significant rate due to the rising usage of IoT, and the technologies constantly maturing in the industry are boosting the market growth. Moreover, the government passed legislation for facilitating the transition to this technology.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Also, we are launching “Wantstats” the premier statistics portal for market data in comprehensive charts and stats format, providing forecasts, regional and segment analysis. Stay informed and make data-driven decisions with Wantstats.
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)