According to a research report "Analytics as a Service Market by Component, Deployment Mode, Organization Size, Industry Vertical (BFSI, Telecommunications and IT, Healthcare and Life Sciences, and Retail and eCommerce), and Region - Global Forecast to 2024", published by MarketsandMarkets, The global AaaS market size is expected to grow from USD 4.3 billion in 2019 to USD 12.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 23.2% during the forecast period. The major growth factors of the AaaS market include the increasing need to extract in-depth insights from the growing volumes of data to gain a competitive advantage. The increasing demand for cloud-based dashboards for data visualization to enhance decision-making, the benefit of cost-effectiveness offered by AaaS solutions, and fulfilling the enterprise need to adopt advanced analytical capabilities with the minimal infrastructure are expected to drive the adoption of AaaS solutions.
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North America to hold the largest market size during the forecast period
North America is the most significant revenue contributor to the global AaaS market. The region is witnessing significant developments in the AaaS market. AaaS solutions are gaining traction in the BFSI industry vertical in North America. These solutions offer more flexible, scalable, and cost-effective storage solutions, along with offering improved analytics capacity. Several AaaS solution providers in North America are experimenting in the market by integrating advanced AI and ML technologies with their existing AaaS solutions. The increasing adoption of IoT devices by various businesses in the region are leading to the growth of the AaaS market. Major North American vendors in the AaaS market are Microsoft (US), Teradata (US), IBM (US), Oracle (US), SAS Institute (US), Google (US), AWS (US), HPE (US), Salesforce (US), Cloudera (US), MicroStrategy (US), SAP (Germany), ThoughtSpot (US), Qlik (US), Domo (US), TIBCO Software (US), Sisense (US), GoodData (US), Birst (US), Yellowfin (Australia), Guavus (US), Absolutdata (US), Alteryx(US), and Looker (US).
The report includes the study of the key players offering AaaS solutions and services. The major vendors Microsoft (US), Teradata (US), IBM (US), Oracle (US), SAS Institute (US), Atos (France), Google (US), AWS (US), HPE (US), Hitachi Vantara (Japan), Salesforce (US), Cloudera (US), MicroStrategy (US), SAP (Germany), ThoughtSpot (US), Qlik (US), Domo (US), TIBCO Software (US), Sisense (US), GoodData (US), Birst (US), Yellowfin (Australia), Guavus (US), Absolutdata (US), Alteryx(US), Looker (US), Pyramid Analytics (Europe), and Board International (Switzerland). It also includes an in-depth competitive analysis of the key players in the AaaS market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.
Microsoft (US) develops and supports software, services, devices, and solutions. Its product offerings include operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. The company also designs, manufactures, and sells devices, such as PCs, tablets, gaming and entertainment consoles, other intelligent devices, and related accessories. The company offers analytical platforms and provides production services for AI-infused intelligent cloud. It offers a range of services, which includes solution support, consulting services, and cloud-based solutions that provide customers with software, services, platforms, and content. In the AaaS market, the company offers Azure Analytics platform, which comprises offerings, such as Azure Synapse Analytics, Azure Stream Analytics, Azure Data Share, Data Factory, Data Lake Analytics, Event Hubs, Azure Databricks, Azure Analytics Service, Azure Machine Learning, HDInsight, and Azure Data Explorer. Azure Stream Analytics is real-time analytics that uses Structured Query Language (SQL) to build the hybrid infrastructure for delivering data insights that run on the cloud.
Recent Developments
In December 2019, AWS announced the availability of Advanced Query Accelerator (AUQA) for Amazon Redshift service. This service would help organizations customers with a new scale of data and analytical tools to run 3x faster than any other cloud data warehouse.
In June 2019, Salesforce acquired Tableau, which is known for providing an analytical platform for its customers. This acquisition will help Salesforce enhance its Customer 360 platform with Tableau Self-Service analytics to drive greater role toward digital transformation, enabling companies to tap deeper data insights for making smarter decisions.
In December 2019, HPE announced a new platform named GreenLake Central to delivers its entire cloud portfolio as as service. The platform will provide HPE customers with a consistent cloud experience for all their applications and data through operational data that run, manage, and optimize the entire hybrid IT estate.
In October 2019, Teradata announced new offerings to help companies use Vantage to simplify their analytic ecosystems on their cloud journey. Teradata Vantage now unifies analytics, data lakes, and data warehouses in the cloud. The company is set to soon expand its public cloud offerings to include Google Cloud Platform.
In November 2019, Cloudera launched the Cloudera Connect program on Cloudera Data platform. This launch will enable Cloudera’s partners to accelerate their customer enterprise data strategies and deliver powerful self-service analytical businesses across the hybrid and multicloud environment.
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Table of Contents
1 Introduction (Page No. - 21)
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology (Page No. - 25)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primary Profiles
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Assumptions for the Study
2.6 Limitations of the Study
3 Executive Summary (Page No. - 35)
4 Premium Insights (Page No. - 40)
4.1 Attractive Market Opportunities in the Analytics as a Service Market
4.2 Market: Top 3 Solutions
4.3 Market: By Region
4.4 Analytics as a Service Market in North America, By Solution and Industry Vertical
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