Jan 19, 2021 (AmericaNewsHour) -- Research Nester has released a report titled "Analytics-as-a-Service (AaaS) Market - Global Demand Analysis & Opportunity Outlook 2027" which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter's five force model.
The era of industry 4.0 and its adoption by almost all the sectors globally are driving the organization to move on the cloud. The automation is creating a massive amount of data on day to day basis. The collected data is then analyzed for the pattern, and it is used for predicting future incidences. The opportunity is also increasing with the commercialization of IoT enabled devices.
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Data analytics offers optimization of complex operations such as logistics for almost all the industries to reduce the production cost. The insights are also used to develop marketing strategies to increase the sales and form a greater connection with the customers. Growing amount of data, along with the need to reduce operational costs combined with the need for analysis of data sets, all of these factors are anticipated to support the growth of the analytics-as-a-service (AaaS) market .
The analytics-as-a-service (AaaS) market is anticipated to record robust CAGR over the forecast period, i.e. 2019-2027. The market is segmented by deployment into private cloud, public cloud and hybrid cloud. Among these segments, the hybrid cloud segment is anticipated to hold largest market share on the back of having numerous benefits of the provided solutions and services by hybrid cloud, such as higher control on data, ease of transition between public and private cloud, improved flexibility on resources and others.
Geographically, the analytics-as-a-service (AaaS) market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, North America is expected to hold largest market share for the presence of greater number of analysts and technical experts. Moreover, demand for analytics-as-a-service (AaaS) services and solutions for gaining better insights so as to form business decisions amongst enterprises is also estimated to fuel the growth of the market in the region.
Furthermore, Asia-Pacific is estimated to gain significant market share on account to rise in the number of structured and unstructured data generated from various channels, which is generating the demand amongst enterprises for gaining insights and formulate decisions.
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However, concerns for growing cyber threats and cybercrimes, which is leading to increasing losses for enterprises and fear of data security threats, are expected to act as a barrier to the growth of the market during the forecast period.
This report also studies existing competitive scenario of some of the key players of the analytics-as-a-service market , which includes profiling of Pythian Services Inc., Cloudera, Inc. /zigman2/quotes/209152367/composite CLDR -2.01% , Cloud Technology Partners, Inc., Google /zigman2/quotes/202490156/composite GOOGL +3.10% , IBM /zigman2/quotes/203856914/composite IBM +2.26% , Oracle /zigman2/quotes/202180826/composite ORCL +6.65% , Microsoft /zigman2/quotes/207732364/composite MSFT +2.15% , Amazon Web Services, Inc. , DXC Technology Company /zigman2/quotes/200279350/composite DXC +5.53% and SAS Institute Inc.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled"Analytics-as-a-Service (AaaS) Market - Global Demand Analysis & Opportunity Outlook 2027", analyses the overall analytics-as-a-service (AaaS) industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the analytics-as-a-service market in the near future.
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