1. What is the projected Compound Annual Growth Rate (CAGR) of the Analytics-as-a-Service Market?
The projected CAGR is approximately 25.7%.
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Analytics-as-a-Service MarketAnalytics-as-a-Service Market by Component (Solution, Services), by Analytics Type (Predictive, Diagnostic, Descriptive, Prescriptive), by Enterprise Type (Large Enterprises, Small & Medium Enterprises), by Industry (BFSI, IT & Telecommunication, Retail & Ecommerce, Manufacturing, Transportation & Logistics, Government & Public Sector, Others), by By Component (Solution, Services), by South America (Brazil, Argentina, Rest of South America), by Europe (Germany, France, Italy, Spain, Russia, Benelux, Nordics, Rest of Europe), by Middle East & Africa (Turkey, Israel, GCC, South Africa, North Africa, Rest of the Middle East & Africa), by Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania, Rest of Asia Pacific) Forecast 2026-2034
The Analytics-as-a-Service Marketsize was valued at USD 6.68 USD Billion in 2023 and is projected to reach USD 33.12 USD Billion by 2032, exhibiting a CAGR of 25.7 % during the forecast period.Analytics-as-a-Service (AaaS) is an operating paradigm or model where analytics is provided as a cloud-based service by subscription or in a pay-per-use model. It provides businesses with the possibility of employing advanced analytics functions without having to incur huge capital investments in infrastructure or acquire high-level skills. AaaS is evidence of the real-life applicability of the service in different industries, including marketing, finance, healthcare, and retail. Take, for example, marketing departments that utilize AaaS solutions to track target audience behaviour, optimize advertising activities, and deliver messages that are custom to the clientele. Financial activity, assessment, and management of risks are used for fraud detection purposes. In healthcare, it becomes an option for care management, disease prediction, and resource allocation. With the help of AaaS, the retailers will be able to identify their sales patterns, foresee demand, and know how to serve the customer well via their personalized recommendations.
Component:
Analytics Type:
Enterprise Type:
Industry:
The analytics-as-a-service market is expected to continue its rapid growth due to the rising demand for data-driven insights and the increasing adoption of cloud-based analytics platforms. However, data security and privacy concerns and the lack of skilled professionals remain challenges.
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 25.7% from 2020-2034 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 25.7%.
Key companies in the market include Microsoft Corporation (U.S.), IBM Corporation (U.S.), SAP SE (Germany), Atos (France), Google (U.S.), Msys Technologies (U.S.), Cloudera (U.S.), Thoughtspot (U.S.), Qlik (France), Domo (U.S.).
The market segments include Component, Analytics Type, Enterprise Type, Industry.
The market size is estimated to be USD 6.68 USD Billion as of 2022.
Rising Adoption of Social Media Applications among Customers to Drive Market Growth.
Growing Implementation of Touch-based and Voice-based Infotainment Systems to Increase Adoption of Intelligent Cars.
Surging Data Security Concerns Due to Rising Number of Cybercrimes May Hinder Market Growth.
June 2023: Microsoft and Moody’s Corporation engaged in a partnership to deliver next-generation data, collaboration, research, analytics, and risk solutions for corporate intelligence and financial services.
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The market size is provided in terms of value, measured in USD Billion.
Yes, the market keyword associated with the report is "Analytics-as-a-Service Market," which aids in identifying and referencing the specific market segment covered.
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