Analytics as a Service (AaaS) Market Report by Type (Predictive, Prescriptive, Diagnostic, Descriptive), Component (Solutions, Services), Deployment Type (Private Cloud, Public Cloud, Hybrid Cloud), Enterprise Size (Small and Medium-sized Enterprises, Large Enterprises), Industry Vertical (BFSI, Retail, Government and Public Sector, IT and Telecommunication, Healthcare, Manufacturing, and Others), and Region 2024-2032
The global analytics as a service (AaaS) market size reached US$ 23.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 132.9 Billion by 2032, exhibiting a growth rate (CAGR) of 20.7% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 23.3 Billion
Market Forecast in 2032
US$ 132.9 Billion
Market Growth Rate 2024-2032
20.7%
Analytics as a Service (AaaS) refers to a business solution that provides customized, subscription-based data analytics software and procedures through the cloud. It primarily integrates the differently sourced data and information into a centralized-managed platform, thereby reducing manual labor and enhancing operational efficiency. Depending on the type, AaaS is classified into predictive, prescriptive, diagnostic, and descriptive analytics types. As compared to other data analytic tools, AaaS offers its clients with an access to remote analytical tools for analyzing data either via self-service or third-party managed machine learning (ML) tools. In addition to this, this platform aids in analyzing consumer behavior and trends, collecting data, providing personalized access to centrally managed data groups, and offers advanced and interactive services. Consequently, it is widely adopted in the telecommunications and IT, retail, government, healthcare, and banking, financial services, and insurance (BFSI) industries.
Analytics as a Service (AaaS) Market Trends:
One of the key factors driving the global AaaS market growth is the emerging organizational need to update their services by better understanding system operations and customer behavior. In line with this, small- and medium-sized enterprises (SMEs) are widely adopting the technology to make data-driven decisions at lower costs, which is supporting the market growth. The demand for Aaas is also facilitated by the widespread adoption of social media applications, which has resulted in an increase in the volume of structured and unstructured data across platforms. Moreover, rapid automation across several industry verticals, along with the increasing utilization of predictive and historic data analysis by manufacturing facilities to avoid unexpected downtime, are acting as other growth-inducing factors. Apart from this, the increasing incorporation of the Internet of Things (IoT) and the proliferation of smartphones has enabled brands to simultaneously gather and store machine-generated data. This, in turn, is helping organizations in enhancing the performance of their internal assets, reducing operational costs, providing proactive customer support, and increasing the profit margin, thereby creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global analytics as a service (AaaS)market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, component, deployment type, enterprise size and industry vertical.
Breakup by Type:
Predictive
Prescriptive
Diagnostic
Descriptive
Breakup by Component:
Solutions
Services
Breakup by Deployment Type:
Private Cloud
Public Cloud
Hybrid Cloud
Breakup by Enterprise Size:
Small and Medium-sized Enterprises
Large Enterprises
Breakup by Industry Vertical:
BFSI
Retail
Government and Public Sector
IT and Telecommunication
Healthcare
Manufacturing
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Atos, Cloudera Inc., Google LLC (Alphabet Inc.), Hewlett Packard Enterprise Company, Infosys Limited, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, ScienceSoft USA Corporation, Sisense, Teradata Corporation and Tibco Software Inc.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Type, Component, Deployment Type, Enterprise Size, Industry Vertical, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Atos, Cloudera Inc., Google LLC (Alphabet Inc.), Hewlett Packard Enterprise Company, Infosys Limited, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, ScienceSoft USA Corporation, Sisense, Teradata Corporation and Tibco Software Inc.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global analytics as a service (AaaS) market was valued at US$ 23.3 Billion in 2023.
We expect the global analytics as a service (AaaS) market to exhibit a CAGR of 20.7% during 2024-2032.
The growing adoption of Analytics as a Service (AaaS) solution to analyze consumer behavior and trends, collect data, provide personalized access to centrally managed data groups, etc., is primarily driving the global analytics as a service (AaaS) market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing utilization of AaaS solutions for a better understanding of the consumer purchasing behavior.
Based on the type, the global analytics as a service (AaaS) market has been divided into predictive, prescriptive, diagnostic, and descriptive. Among these, predictive currently exhibits a clear dominance in the market.
Based on the component, the global analytics as a service (AaaS) market can be categorized into solutions and services. Currently, services account for the majority of the global market share.
Based on the deployment type, the global analytics as a service (AaaS) market has been segregated into private cloud, public cloud, and hybrid cloud, where public cloud currently holds the largest market share.
Based on the industry vertical, the global analytics as a service (AaaS) market can be bifurcated into BFSI, retail, government and public sector, IT and telecommunication, healthcare, manufacturing, and others. Currently, the BFSI sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global analytics as a service (AaaS) market include Atos, Cloudera Inc., Google LLC (Alphabet Inc.), Hewlett Packard Enterprise Company, Infosys Limited, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, ScienceSoft USA Corporation, Sisense, Teradata Corporation, and Tibco Software Inc.
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