Global Cloud Analytics Market Insights Forecasts to 2033

• The Global Cloud Analytics Market Size was Valued at USD 27.5 Billion in 2023
• The Market Size is Growing at a CAGR of 21.12% from 2023 to 2033
• The Worldwide Cloud Analytics Market Size is Expected to Reach USD 186.9 Billion by 2033
• Asia-Pacific is Expected to Grow the fastest during the forecast period.

The Global Cloud Analytics Market Size is Anticipated to Exceed USD 186.9 Billion by 2033, Growing at a CAGR of 21.12% from 2023 to 2033.

Market Overview

Cloud analytics refers to a type of data analysis that shifts elements of data analytics, such as data processing and storage operations, to a public or private cloud. This concept encompasses a broad range of analytical tools and techniques designed to help organizations process and analyze large datasets to inform decision-making processes.  Similar to on-premises data analytics, cloud analytics solutions help you identify patterns, make predictions, and derive business intelligence (BI) insights. Cloud analytics offers strong analytical tools in a public or private cloud together with scalable cloud resources. A major benefit of cloud analytics is real-time data integration, which allows structured, unstructured, batch, and streaming data to be combined without adding a lot of extra complexity. Most of the time, cloud analytics provide solutions for numerous issues related to data storage and maintenance. AI cloud analytics combines artificial intelligence (AI) and cloud computing to enhance data analytics processes. AI technologies, including machine learning and deep learning, within cloud environments automate the analysis of large datasets, predict trends, uncover insights, and inform decision-making. It is widely used in various applications, such as predictive maintenance, customer behavior analysis, fraud detection, and supply chain optimization. Innovation will be made possible by the combination of AI cloud analytics with other cutting-edge technologies like edge computing, blockchain, and augmented reality to process data quickly and visualize it more effectively. The integration of AI analytics with augmented reality in the medical field can give surgeons data-driven, real-time insights during procedures.

Report Coverage

This research report categorizes the market for the global cloud analytics market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global cloud analytics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global cloud analytics market.

Driving Factors

The inclination towards digital platforms has fueled the market demand for cloud analytics. There is a rising use of big data technologies, increased reliance on the culture of working from home, a boom in social media usage, and the acceptance of mobile applications. These all factors are responsible for driving the global cloud analytics market. The advantages of cloud services for the improvement of healthcare, BFSI, and media & entertainment are bolstering the market expansion of cloud analytics. Furthermore, the most significant organizations that handle vast volumes of data are making use of cloud computing to offer their goods to enterprises.

Restraining Factors

The increasing concern about data security risks mainly cyber security breaches by corporate organizations owing to cloud technology is restraining the market. Cyberattacks may cause brand extinction if customers choose to shop at other companies, resulting in customer churn.

Market Segmentation

The global cloud analytics market share is classified into data processing, organization size, solution, deployment, and end-user.

• The batch analytics segment is expected to grow at the fastest CAGR during the forecast period.

Based on the data processing, the global cloud analytics market is categorized into real-time analytics and batch analytics. Among these, the batch analytics segment is expected to grow at the fastest CAGR during the forecast period. The batch analytics efficiently processes large volumes of data in scheduled batches that leverage the scalability and flexibility of cloud infrastructure. Many analytics systems like Hadoop and data warehouses were designed for batch analytics. The advancements in cloud technologies are contributing to driving the market growth in the batch analytics segment.

• The large enterprises segment is expected to hold the largest share of the global cloud analytics market during the forecast period.   

Based on the organization size, the global cloud analytics market is categorized into small & medium enterprises and large enterprises. Among these, the large enterprises segment is expected to hold the largest share of the global cloud analytics market during the forecast period. IT leaders within large enterprises are investing heavily in cloud-based analytics technologies for obvious reasons—flexibility, time to value, access to innovation, data gravity, and more. The growing digital transformation and the adoption of data storage platforms are driving the market.

• The analytics solution segment dominated the market with the largest revenue share in 2023.

Based on the solution, the global cloud analytics market is categorized into cloud business intelligence (BI) tools, enterprise information management, governance, risk, and compliance, enterprise performance management, analytics solutions, and others. Among these, the analytics solution segment dominated the market with the largest revenue share in 2023. Analytical solutions such as predictive, speech, text, and video analytics are empowering businesses to retain customers with the help of dashboards and identify new business opportunities. It mediates the use and management of large data sets and data-driven objectives.

• The public cloud segment accounted for the largest revenue share of the global cloud analytics market in 2023.

Based on the deployment, the global cloud analytics market is categorized into public, private, and hybrid. Among these, the public cloud segment accounted for the largest revenue share of the global cloud analytics market in 2023. Public cloud analytics offers low cost and high bandwidth efficiency. Enterprises are putting their business apps and real-time streaming into practice by deploying public clouds.

• The banking, financial services and insurance (BFSI) segment dominated the market with the largest market share during the forecast period.

Based on the end-user, the global cloud analytics market is categorized into banking, financial services and insurance (BFSI), IT & telecommunications, retail & consumer goods, healthcare & life sciences, manufacturing, research & education, and others. Among these, the banking, financial services and insurance (BFSI) segment dominated the market with the largest market share during the forecast period. Website Analytics, Sales Analytics, Financial Analytics, and Performance Analytics are the numerous types of cloud analytics tools used in the BFSI segment. The increasing adoption of AI and machine learning (ML) in BFSI enhances the value proposition of cloud analytics by enabling predictive analytics and automated decision-making.    

Regional Segment Analysis of the Global Cloud Analytics Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global cloud analytics market over the predicted timeframe.

North America is projected to hold the largest share of the global cloud analytics market over the forecast period. The adoption of cloud analytics by the key market players in the region is contributing to driving the market. The growing investments in cloud services are anticipated to propel market growth. For instance, the promotion of Cross-Border privacy Rules (CBPR) by the US is considered as market growth opportunity for cloud analytics in the region. Further, the development of technologically advanced solutions has bolstered the regional market growth for cloud analytics.

Asia-Pacific is expected to grow at the fastest CAGR growth of the global cloud analytics market during the forecast period. Amazon Web Services and Google Cloud are the providers of data centers in the region contributing to driving the market. The cloud services offered by key market players owing to the better bandwidth connectivity in the region are expanding the cloud analytics market. Further, the expansion of data platforms for the development of new and innovative technologies is significantly driving the regional market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global cloud analytics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• IBM Corporation
• Oracle Corporation
• Microsoft Corporation
• Atos
• Microstrategy Incorporated
• Hewlett Packard Enterprise
• Hitachi Vantara Corporation
• Hexaware Technologies Limited
• Sisense
• Hitachi Vantara Corporation
• Cloudera, Inc.
• TIBCO Software Inc.
• Microsoft Corporation
• MicroStrategy Incorporated
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In May 2024, Salesforce launched commerce cloud features to help merchants deliver richer online shopping experiences from site development to customer checkout.

• In February 2024, Wipro and IBM expanded partnership to offer new AI services and support to clients. Wipro launched an Enterprise AI-Ready Platform, leveraging IBM watsonx, to advance enterprise adoption of Generative AI.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global cloud analytics market based on the below-mentioned segments: 

Global Cloud Analytics Market, By Data Processing

• Real-Time Analytics
• Batch Analytics

Global Cloud Analytics Market, By Organization Size

• Small & Medium Enterprises
• Large Enterprises

Global Cloud Analytics Market, By Solution

• Cloud Business Intelligence (BI) Tools
• Enterprise Information Management
• Governance, Risk, & Compliance
• Enterprise Performance Management
• Analytics Solutions
• Others

Global Cloud Analytics Market, By Deployment

• Public
• Private
• Hybrid

Global Cloud Analytics Market, By End-User

• Banking, Financial Services and Insurance (BFSI)
• IT & Telecommunications
• Retail & Consumer Goods
• Healthcare & Life Sciences
• Manufacturing
• Research & Education
• Others

Global Cloud analytics Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa