Portland, OR, April 22, 2020 (GLOBE NEWSWIRE) -- As per the exclusive report published by Allied Market Research (AMR), the global analytics-as-a-service industry was pegged at $9.62 billion in 2018 and is anticipated to hit $126.48 billion by 2026, registering a CAGR of 38.1% from 2019 to 2026. The report offers a detailed analysis of drivers & opportunities, market size & estimations, top winning strategies, key segments, and competitive scenario.
Increase in adoption of social media applications, rise in demand for advanced technologies to process high workload through the cloud, and lower cost of ownership propel the growth of global analytics as a service market. On the other hand, data security and privacy issues impede the growth to a certain extent. Moreover, an increase in use of machine-generated data is expected to offer an array of lucrative opportunities to the market, in the coming years.
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The global analytics as a service market is segmented on the basis of component, analytics type, deployment type, industry vertical, and region. Based on the component, the market is bifurcated into solutions and services. The solution segment contributed to nearly two-thirds of the global analytics as a service market share in 2018 and is expected to dominate throughout the forecast period. On the other hand, the service segment would grow at the fastest CAGR of 40.3% by the end of 2026.
Based on the deployment type, the market is classified into a private cloud, public cloud, and hybrid cloud. The public cloud segment accounted for nearly half of the global analytics as a service market revenue in 2018 and is anticipated to rule the roost during the estimated period. Contrarily, the hybrid cloud segment would register the fastest CAGR of 43.0% from 2019 to 2026.
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Based on geography, the analytics as a service market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America held the largest share in 2018, generating nearly half of the global AaaS market. Simultaneously, the region across Asia-Pacific is expected to manifest the fastest CAGR of 44.4% during the study period.
The key market players in the report include Accenture, Atos SE, Google, Inc., Amazon Web Services (AWS), Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAS Institute Inc., and Hitachi Solutions, Ltd.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.