Analytics-as-a-Service
Analytics-as-a-Service Market by Services (Consulting Services, Managed Services, Support & Maintenance Services), Type (Descriptive Analytics, Diagnostic Analytics, Predictive Analytics), Solution, Deployment, Verticals - Global Forecast 2024-2030
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[180 Pages Report] The Analytics-as-a-Service Market size was estimated at USD 16.54 billion in 2023 and expected to reach USD 20.82 billion in 2024, at a CAGR 26.98% to reach USD 88.08 billion by 2030.

Analytics-as-a-Service Market
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Analytics-as-a-Service (AaaS) includes the provision of analytics software and operations through web-based technology. It allows companies to outsource their data analytics activities to a third-party provider rather than maintaining the infrastructure and personnel for in-house analytics. The increasing need for advanced technologies capable of handling high workloads through the cloud, alongside a growing demand for cost-effective analytics solutions is driving the adoption of the analytics-as-a-service market. Pervasive integration of the Internet of Things (IoT) and the widespread use of smartphones which facilitate the expansive data generation and the necessity for analytical insights is creating a platform for growth of the Analytics-as-a-Service market. Rising concerns about data security and privacy associated with Analytics-as-a-Service hamper the market's growth. The rapid proliferation of social media platforms and the rising popularity of mobile devices as tools for accessing and performing analytics create opportunities for market growth.

Regional Insights

In the Americas, the adoption of Analytics-as-a-Service (AaaS) is significant and growing due to the strong presence of major tech companies and a robust digital infrastructure. Many industries, including finance, healthcare, and retail, utilize AaaS to enhance decision-making processes, customer service, and operational efficiency. The region shows a rising interest in leveraging advanced analytics including, predictive analytics to gain insights into consumer behavior and market trends. The APAC region is experiencing rapid growth in the AaaS market due to increasing digital transformation in countries such as China, India, Japan, and South Korea. The demand for AaaS in APAC is driven by the growing e-commerce sector, expanding urbanization, and the rise of smart cities. However, there is variability in technology adoption rates and infrastructure capabilities across different countries, which can influence the integration and effectiveness of AaaS solutions. In Europe, stringent data protection regulations such as GDPR shape the AaaS market, necessitating solutions prioritizing data security and privacy. Cloud-based analytics services are strongly adopted across various manufacturing and automotive industries to drive efficiencies and innovation. The Middle East and Africa are gradually integrating AaaS solutions, influenced by increasing investments in ICT and potential transformations in industries including, oil and gas, transportation, and healthcare.

Market Dynamics

The market dynamics represent an ever-changing landscape of the Analytics-as-a-Service Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Need for advanced technologies to initiate high workloads through the cloud
    • Growing need for cost-effective analytics solutions
    • Increasing incorporation of the Internet of Things (IoT) and the proliferation of smartphone
  • Market Restraints
    • Concerns regarding data security and privacy
  • Market Opportunities
    • Rapid increase in the number of social media sites which has surged the demand to track user interaction
    • Growing popularity of mobile devices for analytics
  • Market Challenges
    • Limited expertise in the analytical knowledge
Market Segmentation Analysis
  • Services: Growing usage of consulting services for assessing the client's data infrastructure

    Consulting services focus on helping clients understand their analytics needs and devise strategies to address them. Consulting involves assessing the client's data infrastructure, existing data management practices, and business goals. Consultants provide expert advice on setting up analytics tools, selecting the right methodologies, and interpreting data output to make informed business decisions. Managed services include the complete handling and management of the client’s analytics operations by a third-party provider. Managed services cover everything from data collection, storage, and processing to the actual analysis of the data. Providers use their expertise to ensure that the analytics operations run smoothly, and efficiently, and are continuously optimized to meet changing business needs. Support & maintenance services aim to maintain the health of analytics tools and systems. They include troubleshooting, upgrades, and training for the client's staff. The goal is to ensure the longevity and effectiveness of the analytics solutions, thus enabling clients to keep their operations running without significant downtime and continue making data-driven decisions.

  • Deployment: Rising hybrid cloud deployment hybrid cloud as it offers flexibility and scalability

    A hybrid cloud combines private and public clouds, allowing data and applications to be shared between them. This arrangement offers flexibility and scalability. A company can use the private aspect for sensitive, critical data while utilizing the public cloud for less critical data or additional computational resources. This flexibility makes the hybrid cloud a popular choice for businesses that want both the security of a private cloud and the cost-effectiveness and scalability of a public cloud. A private cloud is dedicated exclusively to one organization. It offers the highest level of security and control, and it’s often the preferred choice for businesses with stringent regulatory compliance needs or those handling sensitive data. Companies can tailor their environment to their specific requirements since the infrastructure is not shared with other organizations. The public cloud deployment model involves a third-party provider hosting applications and storage available over the Internet. Public clouds offer great scalability and flexibility at a lower cost since resources are shared across numerous organizations. This option is attractive for companies looking for efficiency and innovation without significant capital investment. The main trade-off is that the company has less control over security and compliance.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Analytics-as-a-Service Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Analytics-as-a-Service Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Analytics-as-a-Service Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Analytics-as-a-Service Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Analytics-as-a-Service Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Analytics-as-a-Service Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Analytics-as-a-Service Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Analytics-as-a-Service Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Analytics-as-a-Service Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Analytics-as-a-Service Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Analytics-as-a-Service Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Analytics-as-a-Service Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • SAS Announces Global Distribution Agreement with TD SYNNEX to Enhance Solution Provider Channels

    SAS entered into a comprehensive global distribution agreement with TD SYNNEX, a major distributor and solutions aggregator in the IT sector. Under this agreement, TD SYNNEX becomes the primary global distributor for SAS’s solution provider partners, marking a pioneering move by SAS to deploy its robust AI and analytics software, including the SAS Viya cloud platform, to select markets in the Americas, Europe, and Asia through a two-tier channel distribution model. This strategy aims to widen the accessibility of SAS’s advanced analytics solutions across various regions. [Published On: 2023-09-12]

  • Strategic Expansion of Genpact and o9 Solutions Partnership Enhances AI-driven Supply Chain Resilience

    Genpact announced the expansion of its collaboration with o9 Solutions to offer an innovative Planning-as-a-Service solution. This enhanced service leverages Genpact’s deep experience in digital operations and supply chain transformations across diverse industries, integrating it with o9’s cutting-edge generative AI and machine learning technologies. This partnership aims to equip businesses with advanced tools to effectively manage and adapt to persistent supply chain challenges, enhancing decision-making processes and operational efficiency. [Published On: 2023-07-17]

  • Strengthening Cybersecurity: Accenture and Google Cloud Amplify their Global Partnership

    Accenture PLC and Google Cloud have announced an enhancement of their partnership, aimed at bolstering cybersecurity measures for businesses globally. This collaboration combines Google Cloud’s state-of-the-art data analytics, AI, ML, and cybersecurity technologies with Accenture's reputation for security expertise. Together, they provide robust security programs and infrastructures that enable organizations to shield vital assets and escalate their cyber-defensive capabilities to counter ongoing security threats, thereby boosting corporate resilience and operational confidence. [Published On: 2023-04-24]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Analytics-as-a-Service Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Analytics-as-a-Service Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Amazon Web Services, Inc., Atos SE, Capgemini SE, Dell Technologies Inc., GoodData Corporation, Google LLC, Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Microsoft Corporation, Microstrategy Incorporated, NTT DATA Inc., Oracle Corporation, Salesforce.com, Inc., SAP SE, SAS Institute Inc., Sisense Inc., Teradata Corporation, TIBCO Software Inc., and VMware, Inc..

Analytics-as-a-Service Market - Global Forecast 2024-2030
To learn more about this report, request a free PDF copy
Market Segmentation & Coverage

This research report categorizes the Analytics-as-a-Service Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Services
    • Consulting Services
    • Managed Services
    • Support & Maintenance Services
  • Type
    • Descriptive Analytics
    • Diagnostic Analytics
    • Predictive Analytics
    • Prescriptive Analytics
  • Solution
    • Customer Analytics
      • Customer Behavior Analysis
      • Customer Segmentation and Clustering
      • Loyalty and Customer Experience Management
    • Financial Analytics
      • Asset and Liability Management
      • Budgetary Control Management
      • General Ledger Management
      • Payables & Receivables Management
      • Profitability Management
    • Marketing Analytics
      • Marketing Campaign Monitoring
      • Predictive Modeling
      • Product Or Service Development Strategies
      • Yield Management
    • Network Analytics
      • Intelligent Network Optimization
      • Traffic Management
    • Risk Analytics
      • Credit & Market Risk Management
      • Cyber Risk Management
      • Operational Risk Management
    • Sales Analytics
      • Sales Lifecycle Management
      • Sales Reps Efficiency Optimization
    • Supply Chain Analytics
      • Distribution & Logistics Optimization
      • Inventory Optimization
      • Manufacturing Analysis
      • Sales and Operations Planning
      • Supply Chain Planning & Procurement
    • Web & Social Media Analytics
      • Performance Monitoring
      • Search Engine Optimization
      • Social Media Management
  • Deployment
    • Hybrid Cloud
    • Private Cloud
    • Public Cloud
  • Verticals
    • Banking, Financial Services, & Insurance
    • Energy & Utility
    • Government
    • Healthcare & Life Sciences
    • Manufacturing
    • Media & Entertainment
    • Retail & Wholesale
    • Telecommunication & IT
    • Transportation & Logistics
    • Travel & Hospitality

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

This research report offers invaluable insights into various crucial aspects of the Analytics-as-a-Service Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Analytics-as-a-Service Market, by Services
  7. Analytics-as-a-Service Market, by Type
  8. Analytics-as-a-Service Market, by Solution
  9. Analytics-as-a-Service Market, by Deployment
  10. Analytics-as-a-Service Market, by Verticals
  11. Americas Analytics-as-a-Service Market
  12. Asia-Pacific Analytics-as-a-Service Market
  13. Europe, Middle East & Africa Analytics-as-a-Service Market
  14. Competitive Landscape
  15. Competitive Portfolio
  16. List of Figures [Total: 26]
  17. List of Tables [Total: 1218]
  18. List of Companies Mentioned [Total: 20]
Analytics-as-a-Service: The Future of Enterprise Analytics
January 23, 2024
BLOG
Analytics-as-a-Service: The Future of Enterprise Analytics
The growing volumes of data have made cloud computing an essential technology for businesses to analyze data. However, many companies have realized that cloud storage alone is not enough for their growing analytical needs. This has led to the emergence of Analytics-as-a-Service (AaaS) models, enabling organizations to perform data analytics through the cloud.

Analytics-as-a-Service is an on-demand analytical solution that allows businesses to leverage cloud technology for their data analysis needs. The AaaS model integrates cloud infrastructure, analytical tools, and specialized data science expertise into a single platform. It provides predictive insights, enables better decision-making, and helps to optimize business performance. The service can be customized to align with the company's needs, which saves time and resources and allows businesses to focus on their core competency areas.

One of the primary benefits of using Analytics-as-a-Service is the ability to handle large workloads. By distributing workloads across a network of cloud servers, companies can quickly and efficiently perform data analytics, eliminating the need for on-premises hardware and IT personnel. This makes AaaS a cost-effective solution and means that businesses can easily scale their analytics infrastructure as needed.

Another benefit of AaaS is the flexibility it provides. The model allows businesses to choose the level of service they require, which is particularly relevant for small and medium-sized enterprises that may not have the necessary resources and expertise in-house. AaaS providers offer a variety of pricing plans and different levels of analytical support, enabling organizations to choose the options that best match their needs.

As we look ahead, the future of Analytics-as-a-Service appears promising, with more businesses expected to adopt the model. Increased automation, machine learning, and artificial intelligence (AI) are expected to improve AaaS's predictive capabilities, making it easier for businesses to gain insights from vast datasets. Additionally, as cloud service providers continue to enhance their infrastructure and analytical capabilities, AaaS is set to become increasingly scalable, flexible, and cost-effective.

The growing importance of Analytics-as-a-Service cannot be overstated. By leveraging the power of cloud technology and specialized expertise, AaaS brings cost-effectiveness, flexibility, and scalability to businesses that require data analysis. Its ability to handle large workloads and offer customizable service plans makes AaaS a viable solution for businesses of all sizes. With continued advancements in automation, machine learning, and AI, the future of AaaS looks bright, with many exciting opportunities for businesses to explore.

Frequently Asked Questions
  1. How big is the Analytics-as-a-Service Market?
    Ans. The Global Analytics-as-a-Service Market size was estimated at USD 16.54 billion in 2023 and expected to reach USD 20.82 billion in 2024.
  2. What is the Analytics-as-a-Service Market growth?
    Ans. The Global Analytics-as-a-Service Market to grow USD 88.08 billion by 2030, at a CAGR of 26.98%
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