The report "Global Cloud Business Analytics Market - Trends Analysis, Product Usability Profiles & Forecasts to 2024", published by 360iResearch, states that the global market was valued at USD 8,723.82 million in 2016 and is projected to reach USD 41,917.91 million by 2024, growing at a CAGR of 21.68% from 2016 to 2024.
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The major forces driving the growth of the cloud business analytics market include the need for advanced mobility, agile and adaptable platforms and inherent cloud benefits of scalability and flexibility. Moreover, faster time-to-value and collaboration with enterprise tools are also some of the factors that are driving the market growth. However reporting and analyzing multiple systems, and inability to find the tool that can best meet organizations need may hinder the market growth. In the middle of difficulty lies opportunity such as the evolution and rise of smac, considering hybrid models for deployment of business analytics, and data democratization driving adoption of self-service business intelligence. The possible challenges for the market growth is security issues. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on industry, the global cloud business analytics market is studied across aerospace & defense, automotive & transportation & logistics, banking, financial services & insurance, building, construction & real estate, consumer goods & retail, education, energy & utilities, government & public sector, healthcare & life sciences, information technology, manufacturing, media & entertainment, telecommunication, and travel & hospitality. Based on geography, the global cloud business analytics market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the cloud business analytics market and provides inclusive analysis of key growth strategies adopted by major players. Key products profiled in the study are Adobe Analytics, Cloudability, Densify, Exponea, Google Cloud Platform, IBM Cognos Analytics, IBM Operations Analytics, Microsoft Power BI, Mixpanel, Oracle Analytics Cloud, PanTerra, SAP Analytics Cloud, SAS Cloud Analytics, Tableau Online, and Teradata Cloud.
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