Global Cloud Analytics Market Size, Share, Growth Analysis, By Deployment(Public, Private), By Solution(Cloud Business Intelligence (BI) Tools, Enterprise Information Management), By Organization Size(Small & Medium Enterprises, and Large Enterprises), By End User(BFSI, IT and Telecommunications) - Industry Forecast 2023-2030

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Global Cloud Analytics Market size was valued at USD 22.07 billion in 2021 and is poised to grow from USD 25.71 billion in 2022 to USD 128.89 billion by 2030, growing at a CAGR of 22.32% in the forecast period (2023-2030).

Global Cloud Analytics Market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Oracle Corporation', ' Microsoft ', ' Amazon Web Services (AWS) ', ' Google ', ' IBM ', ' SAP ', ' Salesforce ', ' Snowflake ', ' Domo ', ' Tableau ', ' Qlik ', ' SAS Institute ', ' Teradata ', ' MicroStrategy ', ' Alteryx ', ' Cloudera ', ' Informatica ', ' TIBCO Software ', ' Talend ', ' GoodData '

The increased demand for analytics solutions is one of the primary drivers of the Global Cloud Analytics Market. Organizations are focusing on analytics solutions to adapt the strategic decision-making process as a result of increasing digitization, the availability of a wide range of data, and the need to stay ahead of the competition. Today's businesses are pushing toward digitization in order to analyze a sizable volume of unstructured data flowing across multiple platforms and improve company strategies. International Data Corporation (IDC) predicts that by 2025, 80% of the worldwide data gathered from businesses would be unstructured. In order to comprehend worldwide trends, client demand, and competitive benchmarks, firms have implemented a variety of business management systems based on the cloud. These analytics tools aid businesses in operating efficiently and successfully by assisting them in making better decisions based on historical and current data.

Business intelligence has grown in popularity in recent years as both structured and unstructured data have expanded. Businesses of all sizes are concentrating more on integrating business intelligence applications into their corporate infrastructures in order to acquire a competitive edge. Today, the majority of firms follow a streamlined process that involves locating, gathering, storing, and transferring a vast amount of data. BI solutions are used for this data in order to facilitate rapid and easy business decision-making. Standard visualization tools for the data should be available for identifying consumer preferences and patterns, gaining strategic insights, and balancing the supply and demand for new and existing goods and services. Business intelligence solutions are utilized by businesses in a variety of industries to make data easier to interpret and generate meaningful business insights. This, thus, is a rising trend that is projected to create ample opportunities for the Global Cloud Analytics Market in the future.

In 2021, North America is expected to have the biggest share of the global cloud analytics market share. Key players in the region are adopting cloud-based analytics solutions to fulfill user demand for better data quality, better integration, and data visualization. The promotion of Cross-Border Privacy Rules (CBPR) by the U.S. and increasing investment in cloud services by major players are anticipated to create attractive growth prospects for this industry in the region. The regional market has also been strengthened by the expanding trend toward subscription-based services, increased smartphone penetration, and technological improvements.

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