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SAN FRANCISCO, Sept. 27, 2022 /PRNewswire/ -- The global cloud analytics market size is anticipated to reach USD 128.89 billion by 2030, exhibiting a CAGR of 22.32 % over the forecast period, according to a new report published by Grand View Research, Inc. The growing trend of digitization and significant rise in big data is driving the adoption of cloud analytics solutions. Moreover, the increased data connectivity through multi-cloud and hybrid environments has resulted in the adoption of cloud analytics solutions in various industry verticals.

Key Industry Insights & Findings from the report:

Read 131 page full market research report for more Insights, "Cloud Analytics Market Size, Share & Trends Analysis Report By Component, By Deployment, By Organization Size, By Application, By Industry Vertical, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Cloud Analytics Market Growth & Trends

Incorporating analytics solutions and services into the cloud platform has allowed companies to stay competitive in the market and better control their business operations. Furthermore, it helps companies to reduce maintenance costs and expenses related to computation and data storage. The companies are focusing on producing innovative and easy-to-adapt solutions to help clients in their multi-cloud journey. For instance, in March 2022, Alteryx, Inc. announced the launch of Alteryx Analytics Cloud, an automated analytics platform. The platform offers no-code/ low-code capabilities that easily allow the extraction of insights and help businesses make informed decisions using data.

Enterprises of all sizes emphasize implementing business intelligence solutions into their operations to gain a competitive edge and collect, identify, exchange and preserve enormous data. The business intelligence solutions provide a simple and quick decision-making process. The key players focus on expanding their product portfolio through R&D or mergers and acquisitions. For instance, in July 2021, Atos SE announced the acquisition of Visual BI Solutions Inc., a business intelligence and cloud analytics solution provider in the U.S. The acquisition has allowed Atos SE to expand its service offerings and cater to the increasing demand from clients for analytics in the cloud.

Cloud analytics solutions offer numerous growth opportunities as it allows enterprises to manage large quantities of data by saving huge capital investment in hardware equipment and other tools. However, the increasing adoption of cloud technology is creating various data security problems, such as loss of industry-specific information and data theft creating concerns among enterprises of numerous industries.

Cloud Analytics Market Segmentation

Grand View Research has segmented the global cloud analytics market report based on component, deployment, organization size, application, industry vertical, and region:

Cloud Analytics Market - Component Outlook (Revenue, USD Billion, 2018 - 2030)

Cloud Analytics Market - Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

Cloud Analytics Market - Organization Size Outlook (Revenue, USD Billion, 2018 - 2030)

Cloud Analytics Market - Application Outlook (Revenue, USD Billion, 2018 - 2030)

Cloud Analytics Market - Industry Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

Cloud Analytics Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)

List of Key Players of Cloud Analytics Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.

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Cloud Analytics Market to Hit $128.89 Billion by 2030: Grand View Research, Inc. - PR Newswire