Cross-cloud Analytics Market

Cross-cloud Analytics Market Outlook

According to Future Market Insights, the global cross-cloud analytics market size has reached US$ 3.6 Bn in 2018. Demand for cross-cloud analytics recorded Y-o-Y growth of 15.3% in 2022, and thus, the global market is expected to reach US$ 8.6 Bn in 2023. Over the projection period 2023 to 2033, cross-cloud analytics solutions sales in the region are projected to exhibit 21.3% CAGR and total a market size of US$ 59.8 Bn by 2033-end.

Cross-cloud analytics refers to the practice of aggregating and analyzing data from multiple cloud environments or cloud-based services. It involves integrating data from different cloud platforms, such as Google Cloud Platform (GCP), Microsoft Azure, Amazon Web Services (AWS), and others, into a unified analytics solution.

In a hybrid cloud environment, organizations may utilize various cloud providers and services to meet their specific requirements. Each cloud platform typically offers its own set of analytics tools and services for data processing, storage, and analysis. Cross-cloud analytics aims to bring together data from these disparate cloud sources and enable organizations to gain a comprehensive view of their data, regardless of where it is stored.

Other Drivers Propelling the Demand for Cross-cloud Analytics include:

• The widespread adoption of cloud computing across industries has led to the generation of massive amounts of data, which is manage and analyzed by cross-cloud analytics.
• Cross-cloud analytics solutions help organizations aggregate and integrate data from different clouds, enabling a unified view and analysis.
• Cross-cloud analytics offers flexibility in choosing the best-suited cloud platform for specific analytics workloads, such as storage, processing, or machine learning, based on cost, performance, or specialized features.
• Cross-cloud analytics empowers organizations to rapidly innovate and respond to changing business needs.

Challenges for Companies /Manufacturers in the Cross-cloud Analytics Market:

• Organizations may face challenges when trying to extract and move data from one cloud platform to another due to proprietary formats or dependencies on specific cloud provider services.

• While cloud computing offers scalability and cost-efficiency, managing data and running analytics across multiple cloud platforms can still incur significant expenses.
• The absence of consistent standards can create complexities and hinder the scalability of cross-cloud analytics solutions.
• Ensuring seamless data integration and maintaining data quality across multiple clouds is a challenge that organizations face when implementing cross-cloud analytics solutions.

Opportunities in the Cross-cloud Analytics Industry:

• Cross-cloud analytics solutions that offer seamless data integration, harmonization, and movement across multiple clouds will be in high demand.
• The integration of artificial intelligence (AI) and machine learning (ML) technologies into cross-cloud analytics platforms will unlock new opportunities for advanced analytics capabilities.
• Cross-cloud analytics platforms that can seamlessly integrate edge analytics with centralized cloud analytics will enable organizations to derive real-time insights and make quicker decisions.
• Opportunities for cross-cloud analytics vendors to develop industry-specific solutions tailored to sectors such as healthcare, finance, manufacturing, retail, and more.

Latest Trends in the Cross-cloud Analytics Market:

• Organizations are increasingly adopting hybrid and multi-cloud strategies, leveraging a combination of on-premises infrastructure and multiple cloud providers.
• The adoption of DataOps practices, which emphasize collaboration, automation, and continuous delivery of data, is becoming more prevalent.
• Containerization and micro services architectures are increasingly used for deploying and managing applications in cloud environments.
• As data privacy and compliance regulations become stricter, organizations are placing a greater emphasis on data governance and compliance in their analytics operations.

2018 to 2022 Cross-cloud Analytics Demand Outlook Compared to 2023 to 2033 Forecast

From 2018 to 2022, the global cross-cloud analytics market experienced a CAGR of 19.2%, reaching a market size of US$ 8.6 Bn in 2023.

The demand for cross-cloud analytics solutions experienced significant growth as organizations increasingly adopted multi-cloud and hybrid cloud strategies. During the historic period, the cross-cloud analytics market was driven by factors such as cloud adoption, data integration challenges, the need for insights, flexibility provided by the cross-cloud platform.

The demand for cross-cloud analytics solutions grew, as organizations needed to integrate and analyze data from various cloud environments. Cross-cloud analytics solutions offered the capability to seamlessly integrate and harmonize data from disparate sources, addressing the need for unified data access and analysis. Businesses sought to gain a comprehensive view of their data across clouds, allowing them to make informed decisions and drive strategic initiatives.

Future Forecast for Cross-cloud Analytics Solution

Looking ahead, the global cross-cloud analytics industry is expected to rise at a CAGR of 21.3% from 2023 to 2033. During the forecast period, the market size is expected to reach US$ 59.8 Bn.

The cross-cloud analytics industry is expected to continue its growth course from 2023 to 2033, driven by the adoption of advanced technology in the hybrid cloud analytics is increasing, the demand for cross-cloud analytics solutions is expected to grow, as organizations need to integrate and analyze data from multiple cloud platforms. As cross-cloud analytics continue to eradicate challenges of data silos, cross-cloud analytics will enable the integration of data from these silos, providing a unified view of the data and eliminating the need to switch between different cloud platforms and boost the market over the forecast period.

Sudip Saha

Principal Consultant

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Country-Wise Insights

Cross-cloud Analytics Market to flourish in the United States with Widespread Adoption of Cross-cloud Strategies to Gain Unified Insights

The cross-cloud analytics in the United States is expected to reach a market share of US$ 7.5 Bn by 2033, expanding at a CAGR of 20.3%. In the United States, the driving factor for the cross-cloud analytics market is the widespread adoption of multi-cloud strategies by organizations. The need to leverage the strengths of multiple cloud providers, access and analyze data across different cloud environments, and gain unified insights drives the demand for cross-cloud analytics solutions. Moreover, there are detailed factors expected to drive the growth for cross-cloud analytics in the country are:

• The United States has a prominent cloud computing market, and due to multiple cloud platforms the multi-cloud analytics solutions is on high demand.
• Numerous companies based in United States, especially the tech giants that offers a wide range of cloud solutions to clients across the globe.

Improved Data-driven Decisions are driving the Growth in the United Kingdom's Cross-cloud Analytics Market

The cross-cloud analytics industry in the United Kingdom is expected to reach a market share of US$ 5.0 Bn, expanding at a CAGR of 19.9% during the forecast period. The United Kingdom market is projected to experience growth due to the driving factor for the cross-cloud analytics market is the increasing focus on data-driven decision-making and digital transformation initiatives. Organizations seek cross-cloud analytics solutions to integrate and analyze data from multiple cloud platforms, enabling them to gain valuable insights, optimize costs, and drive innovation.

Notable Growth Expected in China's Cross-cloud Analytics Market Due to Emerging Hybrid Cloud Market

The cross-cloud analytics industry in China is anticipated to reach a market share of US$ 6.5 Bn, moving at a CAGR of 23.2% during the forecast period. The cross-cloud analytics market in China is likely to grow due to the hybrid cloud market and the demands for it to emerge at a massive scale.

The hybrid cloud platform that integrates artificial intelligence and machine learning technologies can provide end-to-end intelligent monitoring and automated management, including cross-cloud resource platform intelligence (data center, private cloud, hybrid cloud, public cloud). The cross-cloud analytics aggregates and integrates data from multiple cloud environments, enabling organizations to gain a unified view and insights across their distributed data sources.

Japan’s Pursuit of Business Agility and Competitiveness in Cross-cloud Analytics is driving the Market Growth

The cross-cloud analytics market in Japan is estimated to reach a market share of US$ 6.1 Bn by 2033, thriving at a CAGR of 22.1%. The cross-cloud analytics market in Japan is witnessing substantial growth, driven by the pursuit of enhanced business agility and competitiveness. Organizations leverage cross-cloud analytics solutions to integrate and analyze data from multiple cloud environments, enabling them to make informed decisions, drive innovation, and adapt to changing market dynamics. The focus on advanced analytics capabilities and data governance also contributes to the demand for cross-cloud analytics solutions in Japan.

Demand for Cross-cloud Analytics Due to Robust Real Estate Sector and Tech Savvy Population is driving the Market Growth in India

The cross-cloud analytics industry in India is expected to reach a market share of US$ 4.7 Bn, expanding at a CAGR of 27.7% during the forecast period. As organizations migrate their infrastructure and applications to the cloud, there is a growing need to integrate and analyze data from multiple cloud platforms, leading to an increased demand for cross-cloud analytics solutions. India has a diverse range of industries, including IT services, healthcare and more. Each industry has unique analytics requirements and faces specific challenges. The cross-cloud analytics market caters to these diverse industry needs, providing tailored solutions that address industry-specific data integration, analysis, and governance challenges.

Category-Wise Insights

Data Governance Segment to Dominate Cross-cloud Analytics Market with 23.6% CAGR through 2033

The data governance segment is expected to dominate the cross-cloud analytics market with a CAGR of 23.6% from 2023 to 2033. The growing importance of data governance in cross-cloud analytics reflects the need for organizations to effectively manage, protect, and leverage their data assets across diverse cloud environments.

Cross-cloud analytics solutions provide a centralized management and control framework that allows organizations to govern data across different cloud platforms. This enables consistent application of data governance, metadata management, access controls, and data classification, ensuring that data is governed in a cohesive and standardized manner.

How the Predictive Analytics is driving the Cross-cloud Analytics Market?

The predictive analytics segment is expected to dominate the cross-cloud analytics market with a market share of 28.7% over the forecast period. Predictive analytics involves utilizing advanced techniques, such as machine learning algorithms, to analyze historical and real-time data to make predictions about future outcomes or trends.

Predictive analytics assists organizations in optimizing various aspects of their operations, including sales forecasting, demand planning, inventory management, and resource allocation. By leveraging this functionality, organizations can make precise predictions about customer behavior, market trends, and operational efficiencies, resulting in cost savings and enhanced business outcomes.

How Key Players Stay Competitive in the Cross-cloud Analytics Market?

The cross-cloud analytics industry is highly competitive, with numerous players vying for market share. In such a scenario, key players must adopt effective strategies to stay ahead of the competition.

Key Strategies Adopted by the Players

• Product Innovation

Companies focus on developing innovative analytics capabilities, such as machine learning, natural language processing, and predictive analytics, to enable more powerful and accurate cross-cloud analytics solutions. Enhancing data integration capabilities to seamlessly connect and consolidate data from multiple cloud platforms, ensuring interoperability and easy access to diverse data sources for analysis.

• Strategic Partnerships and Collaborations

Collaborating with major cloud service providers, such as AWS, Azure, and GCP, to integrate and leverage their respective cloud platforms, services, and analytics tools, enabling seamless cross-cloud analytics capabilities for customers. Collaborating with technology vendors specializing in areas like data integration, data governance, security, and advanced analytics to enhance product offerings and provide comprehensive cross-cloud analytics solutions.

• Expansion into Emerging Markets

Expanding operations and establishing a presence in emerging markets where cross-cloud adoption is growing, allowing companies to tap into new customer bases and meet the increasing demand for cross-cloud analytics solutions. Adapting products and services to specific regional or cultural requirements in emerging markets, addressing language preferences, regulatory frameworks, and local data storage requirements.

• Mergers and Acquisitions

Acquiring innovative technology companies specializing in areas like data integration, data governance, analytics, or cloud management to enhance product capabilities and accelerate development. Merging with or acquiring competitors to strengthen market position and gain a larger market share in the cross-cloud analytics space.

Key Players in the Cross-cloud Analytics Industry

• Google
• Microsoft Corporation
• Amazon
• IBM Corporation
• Snowflake

Key Developments in the Cross-cloud Analytics Market:

• Cross Marketing, a marketing research business, announced on May 8 that it has entered into a partnership with primeNumber, which provides "trocco," a comprehensive support service for SaaS-type data analysis platforms that provide software via the cloud. By linking with the cloud-based BI (business intelligence) tool "CrossData" provided by Cross Marketing, it is possible to support the visualization of SaaS data all at once.
• London Stock Exchange Group (LSEG) and Microsoft have forged a new long-term strategic collaboration aimed at designing LSEG's data infrastructure using the Microsoft Cloud. Additionally, the two entities will collaborate on the creation of innovative data and analytics solutions. This partnership builds upon LSEG's successful integration of Refinitiv and strengthens its standing as a global leader in financial markets infrastructure and data provision.
• AVEVA, a renowned industrial software provider, known for promoting innovation and sustainability, has unveiled its latest release of AVEVA Predictive Analytics software. This software is specifically designed for predictive monitoring of industrial assets in sectors such as oil and gas, power, chemicals, mining and minerals, and manufacturing. By leveraging this software, industrial operators can optimize the reliability and performance of their assets, while simultaneously enhancing sustainability efforts and boosting workforce productivity.

Segmentation Analysis of the Cross-cloud Analytics Market

By Functionality:

• Data Integration
• Data Visualization
• Predictive Analytics
• Data Governance

By Deployment Model:

• Public Cloud
• Private Cloud
• Hybrid Cloud

By Industry:

• IT & Telecommunication
• BFSI
• Government
• Healthcare
• E-commerce
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• East Asia
• South Asia Pacific
• Middle East & Africa