Global Analytics-As-A-Service Market Analysis, Drive402rs, Restraints, Opportunities, Threats, Trends, Applications, And Growth Forecast To 2028

Global Analytics-As-A-Service Market: Overview

Analytics-as-a-service (AaaS) is an analytical platform wherein various analytical services are provided via a cloud-based delivery model. The analytical solutions vary depending upon the use or business of an organization. The analytics-as-a-service platform offers various tools for data analytics, which are used by end users to efficiently process and analyze large quantities of heterogeneous data.

Global Analytics-As-A-Service Market: Dynamics

Among some of the major growth factors include availability of vast data silos and rapid shift towards digitalization, resulting in generation of vast volumes of digital data. In addition, increasing adoption of cloud platforms are among other major factors expected to drive growth of the global Analytics-as-a-service market during the forecast period.

Emerging technologies such as Hadoop, big data, cloud computing, and others, and ability to analyze vast workload is a factor expected to proliferate high adoption of analytics-as-a-service among various organizations, which in turn is expected to boost growth of the target market.

Growing demand for business intelligence platforms and predictive analytics are among some other factors expected to fuel market growth in the near future.

However, data security concerns and privacy issues, increasing cyber-attacks, and high cost associated with analytics solutions are major factors expected to restrain growth of the target market to a certain extent.

Increasing awareness regarding analytical offerings and usage of machine generated data, and growing demand for mobile device analytics are major revenue generating opportunities for players operating in the global market.

Global Analytics-As-A-Service Market: Segment Analysis

Increasing deployment of hybrid cloud owing to ability to provide on-premise computational efficiency and centralized private infrastructure are factors expected to increasing adoption of hybrid cloud in companies across various verticals. These are some of the major factors expected to support revenue growth of the hybrid cloud segment among the deployment mode segments.

Among the industry vertical segments, the BFSI segment is expected to dominate in terms of revenue contribution to the global market. This growth is attributed to flexibility of analytics-as-a-service offerings such as risk analytics, banking analytics, customer behavior analytics, data security, and many more.

Global Analytics-As-A-Service Market: Region Analysis

The analytics-as-a-service market in North America is expected to dominate in terms of revenue share, owing to developed advanced IT infrastructure in counties in this region.

Growth of the analytics-as-a-service market in Asia Pacific is primarily driven by increasing adoption of cloud-based application, services, and software by major players operating in the market in this region.

The analytics-as-a-service market in Europe is expected to register substantial revenue growth, owing to rising number of data centric organizations, and availability of digitalized infrastructure.

The analytics-as-a-service market in Latin America is expected to witness increasing revenue growth, owing to increasing adoption and rising awareness regarding analytics-as-a-service across various industrial verticals.

Global Analytics-As-A-Service Market Segmentation:

Segmentation by Component:

• Solution
• Services

Segmentation by Organization Size:

• Large Enterprises
• Small and Medium-Sized Enterprises

Segmentation by Deployment Mode:

• Public cloud
• Private cloud
• Hybrid cloud

Segmentation by Industry Vertical:

• BFSI
• Healthcare
• Manufacturing
• Energy and Utility
• Travel and Hospitality
• Retail and e-Commerce
• Telecommunication and IT
• Transportation and Logistics
• Others (Government, Media and Entertainment, Travel and Hospitality, Food & Beverage, Transportation and logistics, Commercial, etc.)

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa