Cloud Analytics Market

Cloud Analytics Market Outlook from 2024 to 2034

The global cloud analytics market is valued at USD 34.2 billion in 2024. The industry was seen to have USD 26.8 billion in 2023. The industry is projected to show a CAGR of 28.5 % from 2024 to 2034. The business is set to surpass USD 419.9 billion by the end of 2034.

Market growth can be attributed to innovation in cloud-based analytics solutions by the key players exploring the use of artificial intelligence and machine learning in various business settings and verticals, thereby catering to customers in providing better solutions for improving efficiencies in the business.

With companies involved in making continuous improvements the landscape is seen to forecast huge revenue generating global impact on various industrial sectors.

Cloud Analytics Market Assessment

Attributes	Description
Historical Size, 2023	USD 26.8 billion
Estimated Size, 2024	USD 34.2 billion
Projected Size, 2034	USD 419.9 billion
Value-based CAGR (2024 to 2034)	28.5 % CAGR

Organizations can seamlessly analyze vast volumes of data in real-time by utilizing the vast computational powers and storage capabilities of the cloud. Accessibility of cloud analytics platforms helps businesses of all kinds to use the advanced features of analytics without the need for significant upfront investments in infrastructure.

Industries across North America are increasingly integrating cloud analytics into their workflows and unlocking new opportunities for innovation and growth in digital age.

The growth of big data technology and various benefits of analytics solutions integrates into cloud soar the development and overall growth of cloud analytics market. Increasing availability of data connectivity through multi-cloud and hybrid environments is another growth factor augmenting the growth.

Increased penetration of IoT and cloud computing is propelling the demand for these solutions.

Key Industry Highlights

Factors Reinvigorating Growth Prospects in Cloud Analytics Market

On-premises analytics are difficult and expensive to maintain while cloud analytics gives users the benefit to scale up and promote cost savings in the business. Moreover, with the requirement of managing huge data of businesses, the cloud analytics industry has proved to be a reliable option for processing these huge data sets and producing insightful information.

It can predict future outcomes and produce valuable insights beneficial to decision-makers.

Moreover, data connectivity in the hybrid and multi-cloud model gives the user the added advantage of minimizing upfront payments for infrastructure, and the purchase model is based on pay-as-you-go. On the other hand, the cloud platform provides the benefit of public clouds as an automatic and limitless scalability option.

Multi-cloud also offers more scalability allowing the cloud analytics industry market to grow in the forecasted year. Multi-cloud and hybrid cloud strategies have witnessed an immense rise in recent years with almost 93% and 87% usage respectively in 2020.

Scarcity of In-house IT Professionals Fuel the Cloud Analytics Industry

Businesses other than IT and telecommunications, do not have the IT expertise to solve the complexities in the cloud technological environment. Moreover, procuring expensive hardware equipment and setting up IT infrastructure is a costly affair for many businesses.

Cloud has emerged as a suitable platform for these enterprises to manage large amounts of data, without the need for IT personnel, hardware tools, or techniques. Large players in the cloud analytics market have started focusing on penetrating the market with cloud-based business analytics solutions.

Factors Stifling Expansion of the Landscape

Provided how every company has become data-centric and how no companies are contemplating their future with at least some infrastructure in the cloud, protecting companies from data breaches has become essentially vital.

Since data is migrated from multiple cloud providers, multi-tenancy infrastructure is shared by a variety of different businesses in cloud analytics, resulting in sharing the cloud infrastructure servers virtually with numerous lines inside the organization.

This results, in rising data security concerns. Moreover, businesses with ineffective cybersecurity are prone to data security breaches and hence lose vital crucial information about the organization.

Data privacy remains a top priority given the amount of large data stored on the cloud and tends to be of serious concern due to competition.

Data security in cloud analytics implies increase demand for new countermeasures. To prevent data security concerns, key players are investigating the utilization of contemporary cryptographic techniques such as format-preserving encryption and homomorphic encryption in cloud environments in cloud analytics.

2019 to 2023 Global Cloud Analytics Sales Outlook Compared to Demand Forecasts from 2024 to 2034

The global cloud analytics market recorded a CAGR of 26.4% during the historical period between 2019 and 2023. The growth of cloud analytics industry was positive as it reached a value of USD 26.8 billion in 2023 from USD 10.5 billion in 2019.

From 2019 to 2023, the global cloud analytics industry witnessed abundant increase pushed by using factors inclusive of prevalence of large amount of unstructured data.

Various IoT programs and management tools on the cloud to comprehend the global change in consumer demand and business trends shaped the platform. Vendors and providers invested closely in these solutions to optimize operations, reduce expenses, and enhance customer experience within the utilities section. As a result, the sales outlook for cloud analytics platforms in the course of these years confirmed a consistent growing, with a developing range of utilities integrating advanced technologies into their infrastructure.

Demand forecast for cloud analytics is predicted to experience substantial boom pushed by way of numerous key factors. These encompass the continued emphasis on power performance and sustainability, regulatory mandates promoting cloud based deployment projects, and the combination of renewable energy assets into application grids.

The adoption of advanced analytics, synthetic intelligence, and device learning algorithms within cloud analytics is projected to enhance operational efficiencies and predictive renovation talents for utilities. All these elements are anticipated to fuel demand for technology sector which led to the expansion of the industry globally.

Country-wise Insights

Below given table demonstrates CAGRs of countries expanding in the cloud analytics market. The data provides deep insights on mergers, recent advances and country’s contribution in reaching global landscape.

Asian countries are at forefront making huge difference through e-commerce section and also exploring use of cloud analytic into varied sectors. North America bode well with its well sounded infrastructure and huge investments in technology sector.

Countries	CAGR from 2024 to 2034
China	18.9 %
United States	16.7 %
Australia and New Zealand	15.6 %
Japan	13.8 %
Germany	11.2 %

Presence of Major Companies in China are widening their Global Popularity in Cloud Analytics Market

China’s concerted efforts by companies like Alibaba Cloud and Tencent Cloud have contributed huge in expansion of Chinese cloud analytics landscape. China is set to cover an outstanding CAGR of 18.9 % from 2024 to 2034 aiming at providing a comprehensive suite of data analytics and AI-driven solutions to businesses across the globe.

Several prominent companies are making big changes and development in the sector. Alibaba Cloud is a key player in this industry and is expanding its global footprints establishing data centers internationally. Also, Tencent Cloud’s strategic partnerships and investments in advanced analytics tools have enabled the company to offer wide range of cloud based analytics services.

They are utilizing their expertise in data analytics and artificial intelligence to cater wide audience. For example, Alibaba Cloud announced its plan to invest $1 billion on its global data center international markets.

United States’ Strong Infrastructure and Technological Expertise Push Adoption and Sales of the Platform

The United States is reported to be valued at CAGR of 16.7 % through 2034 with a strong emphasis on data security and innovation. Rising investments in cloud services by major players and promotion of Cross-Border Privacy Rules by the United States is expected to soar the growth opportunities.

Also, shift towards subscription-based services, increased penetration of smartphones, and technological advancements have bolstered the industrial growth in the United States.

Mergers and acquisitions in the United States cloud analytics industry have seen upward trajectory of the solution adoption. For example, acquisition of Tableau Software by Salesforce. This acquisition indicates a trend towards consolidation and integrated analytics solutions. Plus, partnership between Microsoft and Oracle emphasizes focus on hybrid cloud capabilities and diverse needs of enterprises.

Japan’s Expertise in Data Management Proves Economic Profit

Japan is estimated to register an impressive CAGR of 13.8% through 2034 funneling its advanced technological infrastructure and its specialization in high performance computing.

The Japanese’s specialization in high-performance computing and data security have accelerated the growth of sector in Japan. Businesses in the Asia Pacific region are looking to capitalize on new and innovative technologies. They are expanding their data platform and this in turn is boosting the cloud analytics industry in this region.

Japan’s emphasis on precision and efficiency aligns with growing momentum in the cloud analytics industry. Advanced data visualization, predictive analysis, and artificial intelligence are particularly subjected.

Collaboration between domestic players and global technology leaders strengthens Japan’s position on the global space. Hitachi Vantara, NEC Corporation, and Fujitsu are major Chinese companies offering innovative analytics platforms to Japanese enterprises.

Category-wise Insights

The section comprises of leading segments in the cloud analytics business.

Cost-effective Data Storage and Processing Capabilities of Hosted Data Warehouse Solutions Gains Impetus

The scalability and flexibility of hosted data warehouse solutions make them well-suited for the dynamic and data-intensive nature of various sectors. These solutions enable organizations to securely store and analyze large volumes of patient data in healthcare industry.

They also help ensuring compliance with strict data privacy regulations like HIPAA. Hosted data warehouse offers healthcare providers with advanced analytics to improve their patient care and operational efficacy.

Segment	Hosted Data Warehouse Solutions (Solution)
Value Share ( 2024 )	25.0 %

Hosted data warehouse solutions have acquired 25.0% of value share on the cloud analytics market. The solution facilitates seamless integration of diverse data sources maintaining the highest standards of data security and auditability. This can be beneficial in financial services sector to derive actionable insights for risk management, fraud detection, and customer behavior analysis.

Widespread Adoption of Public Cloud Services across Various Industries account in gaining Decent Share Value

Organizations are increasingly funneling public cloud services to harness the power of data analytics without facing infrastructure costs associated with on-premises solutions. The public cloud allows seamless integration with wide range of analytics tools and platforms.

This enables businesses to derive actionable insights from big data. Public cloud services have reflected an impressive share value of 52.0% in the industry in 2024.

Segment	Public Cloud (Deployment Type)
Value Share ( 2024 )	52.0 %

The public cloud supports diverse data types and workloads that makes it popular in cloud analytics industry. The solution caters to specific needs of businesses helping with real time analytics, predictive modeling, and business intelligence applications.

The agility and on-demand nature of public cloud services provide companies with analytics solutions strengthening their position in the market.

Competition Outlook

Major companies are working on spreading awareness about benefits of analytics and business intelligence solutions. Prominent players are focused on increasing availability of data connectivity through multi-cloud and hybrid environment. They are actively operating in the market to offer differentiated and customized solutions to enable companies to smoothly carry their multi-cloud journey.

Key players are working on challenges faced by the industry by exploring use of contemporary cryptographic techniques like format-preserving encryptions and homomorphic encryptions. They are focused on research and developing solutions to enhance data security in cloud environment.

Fair Isaac, the US-based data and analytics company known as FICO, had launched its cloud-based platform in India in December 2023. Indian banks such as HDFC Bank, Axis Bank, and AU Small Finance Bank were among the early adopters that elevated customer satisfaction and drove innovation in the banking sector. The FICO Platform brought to market a suite of advanced decisioning and artificial intelligence capabilities tailored to empower local businesses.

Industry Update

• In May, 2024, Sigma, the cloud analytics firm, announced that it had raised $200 million in Series D funding, marking a 60% increase in valuation compared to its Series C round three years earlier. The funding is expected to bolster Sigma's growth and solidify its position as the leading cloud data analytics solution.
• In February, 2024, Google Cloud introduced new GenAI-powered data and analytics tools, including extensive support for vector search and improved access to unstructured data. Additionally, the company made a pair of GenAI capabilities generally available, further expanding its generative AI features for data management and analytics.
• In March, 2024, SAP expanded its data analytics offerings by introducing new capabilities to SAP Datasphere and SAP Analytics Cloud. The additions include knowledge graph capabilities, integration of Joule copilot, and user-friendly simulation functionality, catering to the increasing demand from businesses to utilize data from SAP systems for analytics and planning tasks.
• In October, 2023, Prisma Cloud enhanced its DevSecOps software with six new features aimed at improving communication between security teams and boosting DevSecOps speed through centralized analytics and the use of automated pull requests.

Key players in the Cloud Analytics Market

• IBM corporation
• Hexaware Technologies Limited
• Oracle Corporation
• Microsoft Corporation
• Google, Alphabet Inc
• Salesforce.com, Inc
• SAS Institute Inc.
• Teradata Corporation
• MicroStrategy Incorporated
• The Hewlett Packard Enterprise Company
• SAP SE
• Sisense
• Atos
• Cloudera
• Hitachi Vantara Corporation
• ThoughtSpo
• Qilk
• GoodData
• Alteryx
• Yellowfin
• Pyramid Analytics
• Board International
• Hewlett-Packard Enterprise
• AWS
• Domo
• Looker

Cloud Analytics Market Segmentation

By Solution:

Cloud analytics industry is classified into cloud BI tools, hosted data warehouse solutions, complex event processing, enterprise information management, enterprise performance management, government, risk, and compliance, and analytics solutions.

Cloud Bi tools are trifurcated into cloud based data integration tools, reporting and OLAP tools, and CRM software.

Analytics solutions are categorized into predictive analytics, spatial analytics, video analytics, text analytics, speech analytics, web analytics, and machine analytics.

By Deployment Type:

The segment is applied to public, private, and hybrid deployment type.

By Organization Size:

The cloud analytics market is distributed to SMEs and large enterprises.

By Verticals:

BFSI, retail and consumer goods, healthcare and life sciences, media and entertainment, government, telecom and IT, research and education, energy, manufacturing, and other verticals are segmented in the industry.

By Region:

A regional analysis has been carried out in key countries of North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe.

Frequently Asked Questions

What is the Cloud Analytics Market Worth?

Industry is set to reach USD 34.2 billion in 2024.

What is the Sales Forecast through 2034?

The valuation is expected to reach USD 419.9 by 2034.

What is the Potential CAGR of the Industry?

Industry is set to register a CAGR of 28.5 % from 2024 to 2034.

Which is the Top Deployment Type in Cloud Analytics Industry?

Public cloud services, with a share of 52.0 % in 2024.

How will China Progress in the Cloud Analytics Industry?

China is expected to progress at a CAGR of 18.9 % through 2034.