The AaaS market is projected to reach USD 74.9 billion by 2032 with a 26.0% CAGR
From GlobeNewswire: 2024-12-18 09:00:00
The Analytics as a Service (AaaS) market was valued at USD 9.4 billion in 2023, projected to reach USD 74.9 billion by 2032 with a CAGR of 26.0%. Businesses are increasingly adopting AaaS for data-driven decision-making, with 70% planning to move to cloud-based analytics solutions. Major players include IBM, Microsoft, SAP, and Oracle.
AaaS solutions are revolutionizing industries like healthcare and retail by enabling real-time analysis of patient data and customer purchase trends. Data protection regulations like GDPR and CCPA are driving AaaS adoption, with 59% of organizations prioritizing cloud analytics for data security and regulatory compliance.
The BFSI sector dominates the AaaS market, accounting for 22% of revenue share, due to the need for compliance reporting and risk assessment. The IT & telecom industry is expected to grow rapidly with the surge in data production and focus on premium services. AaaS solutions offer scalability to adapt to changing demands.
North America leads the AaaS market, with over 35% market share, driven by technology and financial firms. The Asia-Pacific region is poised for rapid growth due to government initiatives like India Digital India. Recent developments include Microsoft and AWS launching AI-driven analytics tools and enhanced AaaS offerings for data security and compliance. SNS Insider offers a comprehensive Analytics as a Service (AaaS) Market Analysis Report for 2024-2032. The report includes competitive landscape, segmentation by component, data type, analytics type, enterprise type, and industry, along with regional analysis, company profiles, use cases, and best practices. For more information, visit https://www.snsinsider.com/reports/analytics-as-a-service-market-3249. SNS Insider also provides consulting services such as Go To Market Assessment, Total Addressable Market Assessment, and Competitive Benchmarking. Purchase report packs or subscriptions at https://www.snsinsider.com/subscription.
SNS Insider is a top market research and consulting agency, offering evidence-based strategies for growth. Their aim is to provide clients with the knowledge needed to navigate changing circumstances by delivering current, accurate market data, consumer insights, and opinions through various techniques like surveys, video talks, and focus groups globally. For reliable market research solutions, trust SNS Insider.
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