Cloud Analytics Market

The growth of this market is attributed to the increasing data connectivity through various cloud platforms & solutions at affordable prices & rise in Big Data.

PORTLAND, PORTLAND, OR, UNITED STATE, October 28, 2021 /EINPresswire.com/ -- Surge in demand among businesses to get valuable insights from data on cloud is the major key factor that drives growth of the cloud analytics market. In addition, growth in adoption of machine learning and artificial intelligence (AI) among enterprises are expected to supplement growth of the market.

However, lack of technical expertise and understanding complex algorithms hampers the market growth. Furthermore, adoption of cloud-based solutions over on-premises is expected to provide lucrative opportunities for the global cloud analytics market.

Companies are adopting cloud analytics solutions to improve their sales and marketing strategies accordingly. In addition, cloud analytics solutions help organizations to analyze traffic on their websites and give feedback of what content would be the most popular, helping them gain new customers as well as improve sales.

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North America is expected to have the largest market share during the forecast period, owing to the early adoption of technology and presence of prominent players in the region. In addition, small enterprises in the region are adopting cloud analytics solutions to get better data insights, which is expected to boost cloud analytics market growth in the future.

COVID-19 Scenario Analysis:

• Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the cloud analytics market in 2020.

• Global lockdowns have affected all businesses, cloud analytics would provide companies with better insights, by learning and predicting data patterns. This would help them to make their business strategies accordingly

• Also, large amount of data being uploaded on the cloud due to work from home and working remotely which will create the demand for cloud analytics solutions and will ultimately help the cloud analytics market to grow.

Major players include: Google, Hewlett-Packard Development Company, IBM Corporation, Microsoft Corporation, Microstrategy, Inc., Oracle Corporation, SAP SE, SAS Institute, Inc., Tableau Software, and Teradata Corporation.

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