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Global Cloud Analytics Market Expected to Reach $152.18 Billion by 2030
Posted On: Oct 2023
According to a new report by Value Market Research, the global demand for cloud analytics market is projected to reach a valuation of nearly $152.18 billion by 2030, up from $28.45 billion in 2022, with a CAGR of 23.32% during 2023-2030.
Cloud analytics is an advanced data analytics tool that uses cloud computing resources to analyze massive business or enterprise data. The growth of the cloud analytics market is attributed to the increasing amount of data being generated across all industrial sectors, growing data connectivity through hybrid and multi-cloud environments, and rising adoption of cloud analytics for data security purposes. Additionally, the characteristic features of cloud analytics, such as easy installation and cost benefits, are contributing to the growth of the market.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain Analysis. These tools help provide a clear picture of the industry's structure and evaluate the competition's attractiveness at a global level. Furthermore, these tools give inclusive assessments of each application/product segment in the global market of cloud analytics.
The entire cloud analytics market has been sub-categorized into organization type, deployment, end-user, component, and industry verticals. The report provides an analysis of these subsets with respect to geographical segmentation. This research study will keep marketers informed and help identify target demographics for a product or service.
The regional analysis covers North America, Europe, Asia-Pacific, Latin America, and Middle East And Africa. The report focuses on demand for individual application segments across all prominent regions.
As businesses increasingly rely on data-driven decision-making processes, the cloud analytics market will continue its significant growth trajectory in the next few years.
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