Analytics As A Service Market Growth Opportunities and Top Key Players Analysis Report 2021

The analytics-as-a-service market is estimated to grow at a CAGR of 37.6 % from USD 4.76 Billion in 2016 to USD 23.49 Billion by 2021.

Increased ability of technologies to process huge workload through cloud, business intelligence maturation, and lower cost of ownership are some of the major forces driving the market.Adoptions rate of analytics-as-a-service market has been increased due to the demand of advanced analytics and cost effectiveness of analytical solutions.

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Market Dynamics

Continuous growth of structured and unstructured data from different social media platforms are some of the factors driving the prospects for growth in this market.

Moreover, its ability to provide better visibility, monitor traffic in real time for the online presence of the company, and to optimize the ROI on inbound and outbound marketing campaigns will result in its augmented adoption during the predicted period.

One of the major drivers for this market is the increasing adoption of data analytics. Most of the benefits associated with data analytics results from its ability to recognize patterns and to make predictions based on experiences. Based on these criteria, organizations are adopting data analytics to understand consumption patterns, customer acquisition, and other factors to increase revenue, save costs, and maintain customer loyalty.

Market Segmentation
Market is segmented on the basis of deployment model, Service and Geography.
Segmentation by Deployment model

The market, by deployment model has been segmented into:
Public cloud
Private cloud
Hybrid cloud

Hybrid cloud is expected to witness the highest CAGR during the period 2016 to 2021. This is due to the fact that various organizations, whether small or large, is using hybrid cloud model. This model let them analyze the high volume data on public cloud and get the reduced volume (analyzed data) on private cloud model to get actionable insights.

Segmentation by Service
The market, by services, has been segmented into:
Consulting services
Managed services
Support & maintenance services

Managed services are expected to grow at the highest CAGR over the forecast period with an increasing number of organizations adopting the virtualized (cloud-based) environment; they play a vital role in providing end-to-end services. Managed services help organizations increase efficiency and save costs for managing on-demand analytics-as-a-service solutions.

Segmentation by Geography

During 2015, the Americas dominated this market and accounted for a market share of almost 62%. Much of this growth can be attributed to the presence of major AaaS vendors in the US. Though the Americas dominate this market, increasing instances of mergers and acquisitions in APAC will impel the market for AaaS in this region. The emergence and adoption of big data is expected to drive the market for AaaS in the Americas and APAC during the forecast period.

Key Players
Some of the top companies are :
Amazon Web Services
SAS Institute

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