Cloud analytics is a primarily a cloud-enabled service model in which data analysis is actually performed on a public or private cloud. The benefits associated with cloud analytics such as increasing accessibility, highly affordability, and data consolidation helps create a real-time mode for efficient data management. Additionally, high adoption of cloud services also increases the cloud analytics market, globally. According to the Coherent Market Insights analysis, in 2015, the cloud traffic was 1891 EB (Exabyte) and is estimated to reach 6844EB (Exabyte) by 2020.
Increasing demand of unstructured data in various organization accelerated the growth of the cloud analytics market.
The rising demand of insights from unstructured data to understand customer and market trends is one of the major driver for the growth of the cloud analytics market. The companies understand the real insights of the market that is present on social media websites in the form of comments, posts, tweets, photos, and many more. This helps companies to understand the insights regarding customer experience, product description and many more that will help them in gaining the competitive advantage. According to International Data Group reveals that unstructured data is growing at the rate of 62 percent per year, and that by 2022, 93 percent of all data will be unstructured. Thus, as amount of unstructured data increases, it will positively impact on increasing the demand of cloud based data storage and cloud analytics tools. Therefore, unstructured data will help in propelling the growth of the market.
Data security is one of the key challenge that will hampering the growth of the market
Data security has consistently been a major issue in the cloud computing environment. As the data is located in different places even in all the globe. Data security issues that occurs in the cloud are system vulnerabilities, data breaches, fraudulent use of cloud services and etc. Therefore, security issues associated with cloud services is one of the key challenges that hamper the growth of the market.
Global Cloud Analytics Market: Taxonomy
By Deployment Model
By Organization Size
Global Cloud Analytics Market: Regional Insights
The North America held a dominant position in the global cloud analytics market in 2016. Organisation shifting their workload in the cloud is one of the major driving factor for the growth of the market. According to the Coherent Market Insights analysis, in 2015, the cloud traffic was 1891 EB (Exabyte) and is estimated to reach 6844EB (Exabyte) by 2020. Therefore, with increase in cloud traffic requirement of analytics tools for analysing will directly propel the growth of the cloud analytics market. Moreover, due to the presence of leading players such as IBM Corporation, Google, Oracle Corporation also help in uplifting the cloud analytics market in this particular region.
Global Cloud Analytics Market: Competitive Background
Some of the dominant players operating in cloud analytics market include IBM Corporation, Oracle Corporation, Google, Vmware Inc., Tibco Software, Teradata, Tableau Software, Sas Institute Inc., SAP, Rackspace, Qlik Tchnologies Inc., Pivotlink, Panorama Software,, Microsoft Corporation. For instance, 2017, IBM Corporation integrate with Integrated Analytics System, a new unified data system designed to give users fast, easy access to advanced data science capabilities and the ability to work with their data across private, public or hybrid cloud environments.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
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