Cloud Analytics Market worth $16.52 Billion by 2018
MarketsandMarkets recently conducted a study on the Cloud Based Business Analytics Market: “Cloud Analytics Market [Cloud BI; Cloud Business Intelligence] – Text; Web; Speech; Machine; Video; Predictive Analytics: Global Advancements, Delivery Models, Market Trends, Enterprise Roadmap, Market Forecasts and Analysis (2013 – 2018)”, which analyzed and studied the major market drivers, restraints, and opportunities in North America, Western Europe, Eastern Europe, Middle East and Africa, Japan, Asia-Pacific and Latin America.
The global Cloud Analytics Market is driven by the emergence of Big Data and cloud computing technologies. Over the last few years, businesses have begun cloud computing extensively. in 2010. Big players and new startups have shifted towards cloud BI, business analytics and cloud based business intelligence.
Traditional BI and analytics solutions are striving to meet the requirements of todays business needs. Enterprises are struggling with high operating costs, lack of IT expertise and increasing employee mobility. This trend has forced BI vendors to use new ways of delivering business analytics. Analytics on cloud is an emerging term that is a complete combination of services and enables enterprises to move their BI, data warehousing and OLAP workload over the cloud platform.
The adoption of cloud BI or business analytics enables enterprises to collect, access, monitor and share key performance indicators (KPIs) virtually, through any mobile device. Cloud BI utilizes the software-as-a-service (SaaS) licensing model and is also based on a pay-as-you use model, which doesn’t need software and hardware installations. Cloud BI services are accessed by using login credentials in a browser. These services are easily scalable, allowing enterprises to include anyone with an authentic email ID in their BI solution.
MarketsandMarkets has recently conducted a study on the Cloud Analytics Market, analyzing the major market drivers, restraints, and opportunities in North America, Western Europe, Eastern Europe, Middle East and Africa, Japan, Asia-Pacific (Ex-Japan) and Latin America. The study reports that the global Cloud Analytics market is expected to grow from $5.25 billion in 2013 to $16.52 billion by 2018, at an estimated CAGR of 25.8% during this forecast period.
The report also draws the competitive landscape of the cloud analytics market, providing an analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. Some of the major players in this market are IBM, HP, Oracle, Birst, Kognitio, Adaptive Planning, BIME, Cloud9 Analytics, GoodData, Google, Host Analytics and Microsoft.
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