Cloud Analytics Market (Component: Solutions, Services; Deployment: Public, Private, Hybrid; Organization Size: SME, Large Organizations; Industry Vertical: BFSI, IT & Telecommunication, Manufacturing, Healthcare & life sciences, Government, Energy & Utilities, Others; Application Insights: Sales and Marketing, Research & Development, Customer Service, Accounting & Finance, Human Resource, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global cloud analytics market size was exhibited at USD 18.24 billion in 2022 and is projected to hit around USD 143.17 billion by 2032, growing at a CAGR of 18.24% during the forecast period 2023 to 2032.

Key Pointers:

• By geography, North America generated more than 52% of total sales in 2022. 
• By geography, the Asia Pacific region is anticipated to have the largest CAGR at a13% from 2023 to 2032.
• By component, the solutions segment generated more than 73% of the total revenue share in 2022.
• By deployment, the private segment captured more than 31% of revenue share in 2022.
• By organization size, the SME segment accounted for more than 46% of revenue share in 2022.
• By industry vertical, the BFSI segment generated more than 36% of the total share in 2022.
• By industry vertical, the healthcare and life sciences segment accounted for over 11% of revenue share in 2022. 
• By application, the sales and marketing segment generated more than 39% of the revenue share in 2022.
• By application, the customer service segment contributed more than 14% of revenue share in 2022.

Cloud Analytics Market Report Scope

The shift of businesses towards digital platforms and the increasing demand for data connectivity through cloud environments are expected to fuel the growth of the industry over the forecast period. Moreover, the significant increase in big data is expected to provide numerous opportunities to the industry.

Cloud analytics enables organizations to process a large amount of data and access remote data centers, which helps find more accurate results and increase productivity. The COVID-19 pandemic has fueled the demand for cloud analytics solutions as businesses experienced a shift towards digital platforms. Cloud analytics solutions have helped companies make decisions in real-time by gathering, analyzing, and presenting valuable insights resulting in better outcomes.

With the help of cloud analytics, businesses can now reduce operational costs by saving maintenance and housing costs of the on-premises system, which helps reduce IT headcount. Moreover, it also helps improve scalability and growth as it offers powerful capabilities without the need to set up or maintain servers and utilize human resources to focus on building business strategies to achieve maximum profits.

Cloud analytics tools provide businesses with a solution that links to multiple data sources and automatically refreshes to provide the latest results. It offers various processing applications to uncover unexpected patterns, insights, and novel uses. Moreover, it enables users to easily store and share data to improve team efficiency and productivity. The benefits mentioned above provided by cloud analytics to enterprises are expected to increase the adoption of cloud analytics solutions over the forecast period.

North America acquired the largest revenue share of approximately 52% in 2022. The growth is attributed to the increased adoption of the latest technologies in postal services and the presence of key players in the region. Moreover, rising labor costs and labor shortages are driving companies to adopt automation resulting in the market's growth. The demand for postal automation services is increasing in government, BFSI, and other segments fueling the industry growth in the region.

Asia Pacific is expected to witness the highest CAGR of approximately 10% over the forecasted period. The high growth of the e-commerce industry in countries such as Japan, China, and India has created the demand for a technologically advanced e-commerce logistics industry. Furthermore, increasing demand from the BFSI sector is creating numerous growth opportunities for postal automation systems in the Asia Pacific region.

Some of the prominent players in the Cloud Analytics Market include:

• Microsoft Corporation
• IBM Corporation
• Oracle Corporation
• Google, LLC
• SAP SE (Germany)
• TIBCO Software, Inc.
• Salesforce.com
• SAS Institute, Inc.
• AWS
• MicroStrategy
• Cloudera
• Alteryx, Inc.
• Sisense (U.S.)
• Atos (France)
• Qlik (U.S.)

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Cloud Analytics market.

By Component 

• Solutions
• Services

By Deployment

• Public
• Private
• Hybrid

By Organization Size

• SME
• Large Organizations

By Industry Vertical

• BFSI
• IT & Telecommunication
• Manufacturing
• Healthcare & Life Sciences
• Government
• Energy & Utilities
• Others

By Application

• Sales and Marketing
• Research & Development
• Customer Service
• Accounting & Finance
• Human Resource
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)