Research Nester has released a report titled “Analytics-as-a-Service (AaaS) Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the analytics-as-a-service (AaaS) market in terms of market segmentation by deployment, by component, by type, by software type, by organization size, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The analytics-as-a-service market is segmented by deployment into private cloud, public cloud and hybrid cloud, out of which, the hybrid cloud segment is anticipated to have largest market share on account of various benefits associated to the solutions and services, such as ease of transition between private and public cloud interfaces, higher control on data, and others.
The analytics-as-a-service market is anticipated to record a significant CAGR during the forecast period, i.e. 2019-2027. Maturity of business intelligence (BI), lower cost of ownership, and increased competence to process huge workload through the cloud are estimated to promote the demand for analytics-as-a-service market throughout the forecast period.
Regionally, the analytics-as-a-service market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is expected to hold largest market share on the back of availability of numerous analysts and technical experts in the region. Furthermore, presence of several large enterprises and their demand for analytics-as-a-service solutions and services, so as to gain better insights and drive business decisions, are estimated to drive the growth of the market in the region.
Moreover, mobile computing, social media and Internet of Things among others are contributing to the generation of huge number of data, which is gaining interests among enterprises for the analysis of data in the region of Asia-Pacific, which is estimated to gain significant market share in the analytics-as-a-service (AaaS) market.
Growing Structure and Unstructured – ‘Big Data’
Any large data sets which may be computationally analyzed to reveal patterns, trends and associations is referred to as big data. The world is generating huge amount of structured and unstructured data by various different channels, such as social media applications, web portals, and others.
It was anticipated that global big data market generated annual revenue of around 40 billion USD in the year 2018, and the global traffic from cloud data centers for the same year was around 10 zettabytes. The data generated are of so much importance to the enterprises as they can provide key insights and help build decisions and strategies which help the organizations in providing multi-channel approach of products to its customers, thereby gaining business revenue, higher rate of customer retention and new customer engagement. All of this factors are contributing to the demand for analytics-as-a-service (AaaS) services and solutions amongst enterprises, and is further helping towards the growth of the market.
However, rising cyber threats and cybercrimes are posing as a threat for data security amongst enterprises, which is expected to operate as key restraints to the growth of the analytics-as-a-service (AaaS) market during the forecast period. Internet Crime Complaint Center (IC3), which was setup by Federal Bureau of Investigation (FBI), have reported to receive a total of 351,936 numbers of complaints with losses exceeding $2.7 US billion for the year 2018.
This report also provides the existing competitive scenario of some of the key players of the analytics-as-a-service (AaaS) market, which includes company profiling of Pythian Services Inc., Cloudera, Inc. (NYSE: CLDR), Cloud Technology Partners, Inc., Google (NASDAQ: GOOGL), IBM (NYSE: IBM), Oracle (NYSE: ORCL), Microsoft (NASDAQ: MSFT), Amazon Web Services, Inc. , DXC Technology Company (NYSE: DXC) and SAS Institute Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the analytics-as-a-service (AaaS) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.