Cloud analytics is a type of data analysis that involves moving data processing and storage tasks to a public or private cloud. It helps identify patterns, forecast outcomes, and derive business intelligence insights.

Cloud analytics solutions can handle large volumes of complex business data using cloud computing and algorithms, such as machine learning and deep learning models, often linked to artificial intelligence (AI).

Cloud computing offers many features of traditional data analytics, but it allows for the development, implementation, growth, and oversight of data analytics on an external infrastructure, unlike on-premises hosting.

Examples include cloud enterprise data warehouses, data lakes, on-demand BI, and marketing analytics.

Cloud Analytics Market to grow from USD 24.4 Billion in 2023 to USD 135.86 billion by 2030, at a CAGR of 22.43%

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Competitive Landscape of the Cloud Analytics Market Analysis

• Microsoft Corporation
• IBM Corporation
• Oracle Corporation
• Google, LLC
• SAP SE (Germany)
• TIBCO Software, Inc.
• com
• SAS Institute, Inc.
• AWS
• MicroStrategy
• Cloudera
• Alteryx, Inc.
• Sisense (U.S.)
• Atos (France)
• Qlik (U.S.)

New Developments in Cloud Analytics Market

Nov 7, 2023- IBM Unveils Cloud-Native SIEM Built to Maximize Security Teams' Time and Talent

IBM announced a major evolution of its flagship IBM QRadar SIEM product: redesigned on a new cloud-native architecture, built specifically for hybrid cloud scale, speed and flexibility. IBM also unveiled plans for delivering generative AI capabilities within its threat detection and response portfolio – leveraging watsonx, the company's enterprise-ready data and AI platform.

Sep 6, 2023- IBM Expands Cloud Security and Compliance Center to Help Clients Protect Data and Assess Risk Across Hybrid, Multicloud Environments

Here’s what we’re seeing in the data and analytics space as companies, big and small, take their analytics to the cloud

IT Champions the Cloud

IT initially opposed cloud computing due to traditional server-based systems. However, strategic organizations now support it for various reasons. Reliable cloud vendors offer round-the-clock security, allowing organizations to dedicate more time and resources to maintaining it.

They can train entire teams to test and apply patches immediately in case of a security breach. CEOs now expect their IT divisions to lead the agenda and spur digital innovation, leading to a desire for IT companies to relieve themselves of configuration effort.

Cloud Analytics Means All Analytics

Cloud analytics has evolved from focusing solely on cloud data to addressing various data scenarios, including on-premises data, cloud data, and a hybrid strategy that combines both. The hybrid approach has gained popularity, as most businesses use cloud-based CRMs like Salesforce and access data from SQL Server or Excel databases.

This allows for the integration of various data sources without requiring relocation, a feature that users have become accustomed to. Cloud analytics solutions must be able to handle various data scenarios without requiring relocation.

Virtual Private Cloud Is the New ‘In-House’ Cloud

In today's digital age, on-premise solutions are often less secure than cloud infrastructure. Virtual private clouds enable businesses to create a secure environment within public cloud architecture, leading many users to consider their cloud infrastructure as "in-house."

This is because "in-house" now encompasses any data storage owned by an organization, regardless of its firewall location. This makes the distinction between on-premises and cloud computing increasingly blurred, affecting data integration, security methods, and authentication techniques.

Platform Prices Keep Dropping Like Rain from the Sky

The cost of cloud platforms has decreased in recent years due to factors such as the efficiency of cloud providers, Moore's law, and intense competition. Customers benefit the most from price competition, with Google reducing virtual machine costs by 30% in May, Amazon making over 40 price reductions in the last year, and Microsoft committing to match Amazon's prices. However, buyers should also consider the extra value each provider offers in addition to pricing to ensure they are comfortable with their cloud vendor.

A Thousand Cloud Formations Will Emerge & Break Up

Cloud services are rapidly growing, disrupting technology businesses and introducing innovation online. However, not all cloud services will survive, especially in this rapidly expanding sector.

IT helps businesses navigate these decisions by offering advice on whether to adopt or drop a service. Adaptability is key to gaining a competitive edge, as businesses have not been able to make some possibilities plausible even a few years ago.

Regional Outlook

North America was responsible for more than 50% of global sales in 2023. The increased usage of cutting-edge technology in postal services and the existence of significant businesses in the region are credited with the expansion.

The market is expanding because firms are also implementing automation as a result of rising labor expenses and a labor shortage. Postal automation services are becoming more and more necessary for the government, BFSI, and other industries, which is driving the sector's growth in the region.

Throughout the predicted time, Asia Pacific is expected to have the greatest CAGR, at almost 12%.

Because of the e-commerce industry's explosive growth in places like China, India, and Japan, a highly developed e-commerce logistics sector is now required. Additionally, there are several potential for postal automation systems to flourish in the Asia Pacific region due to rising BFSI sector demand.

Segments Covered in the Cloud Analytics Market Report

Cloud Analytics Market Segment by Component

• Solutions
• Services

Cloud Analytics Market by Solution Type

• Public
• Private
• Hybrid

Cloud Analytics Market Segment Organization

• SME
• Large Organizations

Cloud Analytics Market by Industry Vertical

• BFSI
• IT & Telecommunication
• Manufacturing
• Healthcare & Life Sciences
• Government
• Energy & Utilities
• Others

Cloud Analytics Market by Application

• Sales and Marketing
• Research & Development
• Customer Service
• Accounting & Finance
• Human Resource
• Others

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