Cloud Analytics Market to Reach $86.15 Bn by 2028; Google LLC Launched BigQuery Omni to Broaden its Product Portfolio

The global cloud analytics market size is projected to be at USD 86.15 billion in 2028. The market size was USD 19.04 billion in 2020 and USD 22.84 billion in 2021.  The market is further expected to grow at a CAGR of 20.9% during the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “Cloud Analytics Market Size, Share & COVID-19 Impact Analysis, By Solution (Cloud Business Intelligence (BI) Tools, Enterprise Information Management, Governance, Risk, and Compliance, Enterprise Performance Management, Analytics Solutions, and Others), By Deployment (Public, Private, and Hybrid), By Organization Size (Small & Medium Enterprises, and Large Enterprises), By End-User (BFSI, IT and Telecommunications, Retail and Consumer Goods, Healthcare and Life Sciences, Manufacturing, Research & Education, Others), and Regional Forecast, 2021-2028.”

According to our analysts, the surging demand for dependable, supple, and resourceful data storage medium as well as increasing permeation of the software-as-a-service (SaaS) platform among industries to confidently impact the global cloud analytics market growth during the forecast period.

COVID-19 Impact: Positive Improvements in IT Industry Witnessed amid Pandemic

During the COVID-19 pandemic, organizations and government administrations confronted a necessity to resolve analytical concerns that were encountered while implementing crucial business judgments. Cloud-based analytics solutions and mediums have empowered corporations and organizations to upsurge functioning proficiency as well as decrease expenses.

Throughout the outbreak of COVID-19, companies and government organizations have acknowledged the requirement for analytical solutions that are able to contact huge quantities of data and further permit data analysts to concentrate on data-driven objectives in order to receive perceptions from the data.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/cloud-analytics-market-102248

Oracle’s Declaration of Oracle Cloud Data Science Platform to Incite Development

Oracle proclaimed the obtainability of the Oracle Cloud Data Science Platform. At the central, oracle cloud infrastructure, data science is assisting organizations to co-jointly form, coach, administer and install machine learning (ML) models to upsurge the achievement of data science assignments.

Contrasting other data science goods that emphasize distinct data scientists, oracle cloud infrastructure data science aids to advance the efficiency of data science groups with competences such as mutual schemes, model collections, team safety guidelines, reproducibility as well as auditability. Moreover, oracle cloud infrastructure data science spontaneously chooses the most optimum training datasets via AutoML algorithm assortment and tuning, model assessment and model clarification.

Augmented Demand of Analytics Solutions to Attain Visions from Unstructured Data to Support Growth

The increasing digitization, accessibility of an extensive variety of data, and the aspiration to endure at the lead of competition have resulted in companies emphasizing analytics solutions to implement the tactical policymaking procedure. Corporations these days are heading towards digitization to develop business approaches by scrutinizing a huge quantity of unstructured data rolling through numerous platforms. As per the International Data Corporation (IDC), about 80% of the worldwide data composed among organizations will be free by the year 2025.

Business Territory Extension by Crucial Companies to Intensify their Market Positions

The market is experiencing ferocious competition amongst the players functioning in it. These players concentrate on practical tactics such as facility extension to safeguard a broader horizon to market their progressive high-speed motors collection in the impending years. Further, other crucial players are concentrating on partnerships and collaborations to preserve their existence that will help the growth of the market in the upcoming years.

Industry Development

• July 2020: Google LLC, a technology company, presented BigQuery Omni, which is a multi-cloud analytics solution that empowers organizations to gain admittance and strongly analyze the data through Amazon Web Services, Microsoft Azure, and Google Cloud.

List of Key Players Covered in this Market Report

• IBM Corporation (New York, U.S.)


• Hexaware Technologies Limited (Mumbai, India)


• Oracle Corporation (Texas, U.S.)


• Microsoft Corporation (Washington, U.S.)


• Alphabet Inc. (Google LLC) (California, U.S.)


• Salesforce.com, Inc. (California, U.S.)


• TIBCO Software Inc. (California, U.S.)


• SAS Institute Inc. (North Carolina, U.S.)


• Teradata Corporation (California, U.S.)


• MicroStrategy Incorporated (Virginia, U.S.)


• The Hewlett Packard Enterprise Company (Texas, U.S.)


• SAP SE (Walldorf, Germany)


• Sisense (New York, U.S.)


• Atos (Bezons, France)


• Cloudera, Inc. (California, U.S.)


• Hitachi Vantara Corporation (California, U.S.)

Further Findings

• The BFSI organizations are in a superior place to influence cloud-based technologies to refine their functioning proficiency and augment the client experience.


• North America held the maximum cloud analytics market share in 2020 and is anticipated to uphold its supremacy over the mentioned time period.


• Asia Pacific is principally powered by the inaugural of data centers by principal suppliers such as Amazon Web Services (AWS) and Google Cloud, among others, occasioning in the eradication of worries regarding data offshoring and safety breaks.

Table of Segmentation