(PRWEB) July 15, 2014
It is a wide known fact that today, the quantity of data being created in 2 days is equivalent to the total amount created up to 2003. This exponential growth in the amount of data, on a global scale, has fueled the demand for efficient business analytics solutions, so that this data could be used for the purpose of further decision making. However, the traditional solutions are complex to deploy and difficult to understand. This has led to the emergence of cloud based analytics solutions. These provide business intelligence and data analytics on cloud based systems. The significant point that can be noted is that these analytics’ processes are delivered through cloud-enabled means. Globally, the cloud analytics market is currently valued at $6.478 billion. This market is set to progress at a yearly rate of 26.7%, and is estimated to achieve total revenue of $21.18 billion by the end of the year 2019.
Cloud analytics market in the North American territory is worth $3.757 billion, and is estimated to reach $11.498 billion by the end of the year 2019. The calculated CAGR for the period of 2014 to 2019 is 25.1%.Huge demand is being witnessed in this market, due to the rise in quantity of data generation. This enormous data needs to undergo analysis, inorder to make it useful for decision-making. Also, cloud based analytics are easier to deploy. Security of this data can create a grave barrier to the growth of this market. Industry leaders for the cloud analytics market in NA are SAS, SAP, Oracle, IBM, and Salesforce.
Browse through the market data tables, figures and detailed ToC on the “North America Cloud Analytics Market”.
Latin America Cloud Analytics Market
Latin America’s cloud analytics market is currently valued at $191.7 million. This valuation is expected to rise to $688.5 million by the end of the year 2019. The annual rate of growth has been projected to be 29.1%. Latin American nations’ rise in vast amount of data has been remarkable. This has pushed the need for better handling and analysis of data. Thus, the demand for cloud-based analytics is on the rise. Few of the companies with a significant market share are Oracle, SAP, and IBM.
Europe Cloud Analytics Market
The total revenue of the cloud analytics market in the European region is $1.46 billion. This is poised to grow annually at a rate of 22.3%, and eventually reach $3.993 billion by the end of the year 2019.Cloud-based solutions are being adopted by various enterprises in the European nations. Hence, the requirement for cloud analytics services continues to remain high in all the different verticals. The ease of deployment of cloud based business analytics pushes up the overall demand of this market. Some of the prominent players in this market are SAP, IBM, and SAS
Asia Pacific Cloud Analytics Market
The traditional business analytics solutions being implemented in various enterprises in APAC region are highly complex to comprehend. Thus, the recent cloud analytics services being deployed are quickly gaining ground and simplifying the entire process of business analytics. This factor, in addition to the ease of usage, boosts the demand of this market. The current valuation of the APAC region’s cloud analytics market is $1.023 billion. This value is forecast to grow to $4.473 billion in a span of 5 years. The yearly rate of growth is estimated to be 34.3%.The major service providers in this region’s cloud analytics market are SAS, Oracle, IBM, SAP, and Salesforce.
Middle East and Africa Cloud Analytics Market
Within the MEA region, most of the corporations lack in-house specific technical expertise. This has created a need for efficient business analytics solutions to be available on the cloud. Also, traditional analytics solutions have many challenges that act as barrier to the growth of this market. MEA region’s cloud analytics market has been approximated to be worth $45.3 million as of 2014. This valuation is projected to grow at a phenomenal rate of 63.5% on an annual basis, and reach $529.6 billion by the end of the year 2019.Key enterprises that play an active role in this market are IBM, Oracle, SAP, SAS, and Tibco.
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