Analytics as a Service Market Overview and Insights
The market for analytics as a service was estimated to be worth USD 10.81 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 22.8% from 2023 to USD 45.52 billion by 2030.
A cloud-based service model known as Analytics as a Service (AaaS) Market offers subscription-based data analytics tools and services to businesses. Without requiring a significant amount of in-house technology or experience, AaaS provides a range of analytics solutions, such as data processing, visualization, predictive analytics, and machine learning. This strategy offers scalability, cost-effectiveness, and ease of deployment, enabling businesses to obtain important insights from their data, make well-informed decisions, and acquire a competitive edge. AaaS is especially beneficial for businesses looking to optimize their operations and strategy through advanced analytics and data-driven decision-making.
Key Players For The Analytics as a Service Market
Amazon Web Services, Inc., GoodData Corporation, Google LLC, Hewlett Packard Enterprise Development LP, IBM, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc.
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The explosion of data being generated has an impact on the global market, and in order for businesses to stay competitive, they must process and evaluate this data. Large data collections can be efficiently managed with the scalability and flexibility provided by AaaS systems. Furthermore, as industries continue to undergo digital transformation, there is a growing need for analytics solutions that are easier to use, which is supporting the AaaS market. Moreover, enterprises are choosing safe, cloud-based analytics solutions due to growing cybersecurity concerns, which is expanding the market’s development potential.
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Segmentation Analysis of the Analytics as a Service Market
Our report has categorized the market based on region, type, deployment type, enterprise size and End-Users.
By Type
- Descriptive
- Prescriptive
- Predictive
- Diagnostic
By Enterprise Size
- Large Enterprise
- SMEs
By Deployment Type
- Private Cloud
- Public Cloud
- Hybrid Cloud
By End-Users
- BFSI
- IT & Telecom
- Manufacturing
- Healthcare
- Others
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By Region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Regional analysis includes country-level and regional market information, illustrating the market’s dynamics by the major segments included in the research. The research looks at both new technologies and current innovations that are expected to propel the industry forward in the next years.
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