Technavio’s latest report on the global analytics as a service market provides an analysis of the most important trends expected to impact the market outlook through 2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The research study reports that the global analytics as a service market (AaaS) is expected to grow at a CAGR of over 29%, reaching USD 6.4 billion by 2020. More organizations are choosing cloud-based analytics solutions over traditional analytics solutions, as cloud-based solutions provide better visibility, monitor online traffic in real time, and optimize the ROI on inbound and outbound marketing campaigns. Companies are turning to AaaS solutions because they increase efficiency, monitor cash flow, improve time management, cut costs, provide an enhanced user experience, and drive sales.

The top four emerging trends driving the global analytics as a service market according to Technavio’s ICT research analysts are:

Increased adoption of big data

AaaS has gained popularity due to the increasing rate of data expansion and the growth of big data. Since the majority of data is unorganized, analytics solutions provide more effective ways to store, process, and analyze data and deliver it on time via the cloud, which increases business performance.

Benefits such as analyzing customer demand and influencing their purchasing decisions, as well as monitoring competitor activity and inventory management are driving retailers and other end-users to adopt big data solutions.

Emergence of mobile analytics

Smart devices such as smartphones and tablets are increasingly popular among consumers and companies. Organizations are providing work-from-home options and adopting the bring-your-own-device (BYOD) policy to enhance employee mobility. This has increased the number of employees working from remote locations, increasing the data from emails, SMS, social media sites, and web browsing patterns.

“Mobile AaaS helps organizations manage the ROI of mobile marketing investments and optimize marketing campaigns. With the increased adoption of smart devices, many vendors are investing in mobile analytics applications that enable users to use high-quality analytics services,” says Technavio lead enterprise application analyst Amrita Choudhury.

Adoption of cloud BI and analytics

Organizations are investing in cloud BI and analytics to improve their decision-making capabilities by combining different tools for storing, accessing, and examining business data. Analytics solutions provide a single source to visualize and analyze a company's data sources and help users carry out queries without any assistance or technical guidance. Cloud BI analytics applications analyze patterns in sales, market trends, pricing, and customer behavior.

“The cloud model enables enterprises to establish a rapid deployment model, which allows them to quickly scale applications to match the company's requirements. This model also enables easy integration with third-party applications that are often hosted outside the enterprise firewall. Hence, the cloud is an ideal model to serve as a core platform for many enterprise applications, with its configuration flexibility, integrated security, and stringent access mechanisms,” said Amrita.

Emergence of AaaS in healthcare sector

The healthcare sector is among the leading adopters of cloud computing and analytics. AaaS vendors provide cost-effective analytical expertise and data analysis services to healthcare and IT companies. Cloud-based applications and analytics solutions are most popular in the healthcare systems of the Americas and EMEA. Most of the healthcare data, such as critical patient information, is stored in data warehouses and later used for analysis to gain insight into patient history.

Some of the top vendors in the global analytics as a service market as analyzed by Technavio’s analysts are:

  • Amazon Web Services
  • CSC
  • Hewlett Packard
  • IBM
  • Oracle
  • SAS

Browse Related Reports:

  • Global Cloud Backup and Recovery Software Market 2016-2020
  • Global Advanced Analytics Market 2016-2020
  • Global Cloud GIS Market 2016-2020

Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact enquiry@technavio.com with your requirements and a link to our subscription platform.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.