According to IMARC Group latest report titled” Analytics as a Service (AaaS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the market is currently witnessing strong growth. The Global Analytics as a Service (AaaS) Market size to exhibit moderate growth during the next five years. Analytics as a Service (AaaS) represents the business solutions that offer subscription-based data analytics software and procedures through the cloud. It utilizes data mining, predictive analytics, and artificial intelligence (AI) to reveal insights from existing data sets. AaaS integrates all the sourced data and information into a centralized platform to minimize manual labor and improve operational efficiency. It also offers clients access to remote analytical tools for analyzing data via third-party managed machine learning (ML) tools or self-service. Apart from this, AaaS assists in analyzing consumer behavior, collecting data on purchasing trends, offering personalized access to centrally-managed data groups, etc. As a result, AaaS solutions are extensively employed across numerous industries, including telecommunication, IT, retail, healthcare, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The escalating demand for advanced technologies to process high workloads through the cloud is among the primary factors driving the Analytics as a Service (AaaS) market. In addition to this, the growing utilization of AaaS solutions by small and medium-sized enterprises (SMEs) to make cost-effective and data-driven decisions is further catalyzing the market growth. Moreover, the expanding popularity of social media applications is increasing the quantity of structured and unstructured data generated across countries, which is acting as another significant growth-inducing factor. Besides this, the inflating usage of smartphones by consumers is enabling brands to gather and store vast volumes of machine-generated data. This, in turn, is projected to fuel the Analytics as a Service (AaaS) market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Cloudera Inc.
- Google LLC (Alphabet Inc.)
- Hewlett Packard Enterprise Company
- Infosys Limited
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- ScienceSoft USA Corporation
- Teradata Corporation
- Tibco Software Inc
Analytics as a Service (AaaS) Market Segmentation:
Our report has categorized the market based on region, type, component, deployment type, enterprise size and industry vertical.
Breakup by Type:
Breakup by Component:
Breakup by Deployment Type:
- Private Cloud
- Public Cloud
- Hybrid Cloud
Breakup by Enterprise Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Industry Vertical:
- Government and Public Sector
- IT and Telecommunication
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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