Pune, March 24, 2025 (GLOBE NEWSWIRE) -- Cloud Analytics Market Size Analysis:
“The Cloud Analytics Market size was USD 29.94 Billion in 2023 and is expected to reach USD 203.48 Billion by 2032, growing at a CAGR of 23.80% over the forecast period of 2024-2032.”
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Major Players Analysis Listed in this Report are:
- IBM (Watson Analytics, IBM Cognos Analytics)
- SAS Institute (SAS Visual Analytics, SAS Viya)
- Oracle (Oracle Analytics Cloud, Oracle Autonomous Database)
- Google (Google Analytics 360, Looker)
- Microsoft (Power BI, Azure Synapse Analytics)
- Teradata (Teradata Vantage, Teradata Cloud)
- Salesforce (Tableau, Salesforce Analytics Cloud)
- AWS (Amazon QuickSight, AWS Redshift)
- NetApp (Cloud Insights, NetApp ONTAP)
- Qlik (Qlik Sense, QlikView)
- Sisense (Sisense for Cloud Data Teams, Sisense for Cloud Analytics)
- SAP (SAP BusinessObjects, SAP Analytics Cloud)
- Atos (Atos Analytics, Atos Digital Transformation)
- Altair (Altair Smart Learning Analytics, Altair Data Analytics)
- Microstrategy (MicroStrategy Cloud, MicroStrategy Analytics)
- Tibco Software (TIBCO Spotfire, TIBCO Jaspersoft)
- Hexaware Technologies (Hexaware Data Analytics, Hexaware Cloud Services)
- Zoho (Zoho Analytics, Zoho Business Intelligence)
- Rackspace Technology (Rackspace Analytics, Rackspace Data Cloud)
- Splunk (Splunk Cloud, Splunk Enterprise)
- Cloudera (Cloudera Data Platform, Cloudera Altus)
- Domo (Domo Business Cloud, Domo Data Science)
- Hewlett Packard Enterprise (HPE Ezmeral, HPE GreenLake)
- Incorta (Incorta Analytics, Incorta Cloud Analytics)
- Tellius (Tellius Analytics, Tellius Business Intelligence)
- Rapyder (Rapyder Cloud Analytics, Rapyder Data Analytics)
Cloud Analytics Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 29.94 Billion |
| Market Size by 2032 | USD 203.48 Billion |
| CAGR | CAGR of 23.80% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • Increasing Demand for Real-Time Data Processing to Enhance Decision-Making and Strategic Business Operations • Rising Shift Toward Cloud Environments Boosting the Need for Scalable, Flexible, and Cost-Effective Analytics Solutions |
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Cloud Analytics Market Expands Rapidly with AI and Multicloud Adoption Driving Innovation
The cloud analytics industry is experiencing rapid growth because cloud technologies are being adopted by various sectors. As 92% of companies adopt multi-cloud strategies, businesses are looking for scalable, flexible solutions that work in real-time. In September 2024, HEAVY. Vultr has teamed up with AI for improved big data analytics through GPU cloud infrastructure. Cloud analytics plays a vital role in healthcare, finance, and retail businesses, enhancing operational workflows and customer engagement strategies. Innovations are driven by advances in AI and automation, such as Qlik’s AI-based Talend Cloud. Demand for encrypted and compliance-focused cloud analytics solutions continues to drive new growth in the market due to growing data security concerns.
By Component, Solution Segment Dominates Cloud Analytics Market, While Services Sector Poised for Rapid Growth
In 2023, the Solution segment accounted for approximately 73% of revenue share in the Cloud Analytics Market. This dominance was driven by the increasing reliance on cloud-based software solutions for real-time analytics, predictive insights, and operational efficiency. The need for scalable and cost-effective analytics solutions will continue to grow as enterprises migrate to cloud-based infrastructures.
The Services segment is expected to grow with the highest CAGR of 25.91% during the forecast period. This growth is being driven by the increasing demand for consulting, implementation, and support services to optimize cloud analytics platforms. They need experienced professionals to handle intricate cloud migrations, ensure seamless integration, and tailor analytics engaged based on their business requirements.
By Deployment, Public Cloud Dominates Cloud Analytics Market, While Hybrid Cloud Gains Momentum with Rapid Growth
In 2023, the Public Cloud segment was the market leader, representing about 48% of the total revenue. Public cloud solutions are favored by businesses as they provide cost advantages, scalability, and accessibility. Public cloud providers allow organizations to use advanced analytics tools without spending heavily on infrastructure.
The segment Hybrid Cloud is projected to be the fastest-growing segment during the forecast period and is anticipated to see a CAGR of 25.92%. Hybrid cloud solutions combine the scalability of the public cloud with the security of the private cloud, making them an attractive option for non-public companies processing sensitive data.
By Industry Vertical, the BFSI Sector Dominates the Cloud Analytics Market, While the Healthcare Industry is Poised for the Fastest Growth
The Banking, Financial Services, And Insurance (BFSI) segment accounted for the largest revenue share of 28% in 2023. BFSI organizations leverage cloud analytics for enhanced decision-making, risk management, and compliance.
The Healthcare and Life Sciences segment will grow with the highest CAGR of 27.32% during 2024-2032. Growing investments for the deployment of data analytics in predictive diagnostics, patient care, and operational optimization have propelled the demand for cloud-based analytics solutions in the healthcare industry.
Cloud Analytics Market Segmentation:
By Component
- Solutions
- Services
By Organization Size
- Large Enterprises
- Small & Medium-Sized Enterprises
By Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Industry Vertical
- BFSI
- IT & Telecommunication
- Manufacturing
- Healthcare & life sciences
- Government
- Energy & Utilities
- Others
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North America Dominates Cloud Analytics Market, While Asia Pacific Set for Fastest Growth
North America dominated the Cloud Analytics Market with a 40% revenue share in 2023. This is thanks to factors like the early adoption of cloud technologies, a well-established IT infrastructure, and major cloud service providers. Rapid growth in this region is also driven by the fast-growing need for advanced analytical information services in industry sectors like BFSI, healthcare, and retail.
Among these, the Asia Pacific region is expected to record the highest CAGR of 25.53% from 2024 to 2032. Countries including China, India, and Japan, are experiencing rapid digital transformation, driving demand for Cloud analytics solutions. Moreover, the regional market is being propelled by government initiatives promoting smart city projects, e-commerce growth, and healthcare innovation.
Recent Developments
- June 2024 – Telefónica Tech and IBM announced a partnership to enhance AI, analytics, and data management solutions. This collaboration focuses on deploying an open hybrid cloud platform, SHARK.X, to accelerate AI-driven digital transformation in Spain.
- September 2024 – SAS highlighted the challenges of balancing cloud computing and AI innovation with sustainability goals. As AI technologies become more energy-intensive, companies are encouraged to optimize data usage and infrastructure to reduce carbon footprints while enhancing digital capabilities.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Cloud Analytics Market Segmentation, By Component
8. Cloud Analytics Market Segmentation, By Organization Size
9. Cloud Analytics Market Segmentation, By Deployment
10. Cloud Analytics Market Segmentation, By Industry Vertical
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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