Market research company
MarketsandMarkets has produced a report that suggests the cloud business intelligence and cloud analytics market is set to grow $16.52 billion by 2018.
MarketsandMarkets was established in 2001 and operates as a market research and consulting company. It generates 400 reports a year, covering potential developments in thirteen industries including advanced materials, automotives and IT.
The company's report, "Cloud Analytics Market [Cloud BI; Cloud Business Intelligence]" analyzes major market opportunities and threats in North America, Western Europe, Eastern Europe, Middle East and Africa, Japan, Asia-Pacific and Latin America. It also compares cloud analytics players including IBM, HP, Oracle, Birst, Kognitio, Adaptive Planning, BIME, Cloud9 Analytics, GoodData, Google, Host Analytics and Microsoft.
Driven by "Big Data" and cloud computing technologies, there has been a significant move towards cloud computing with businesses of all sizes adopting the new IT paradigm. With companies dealing with increased costs and a lack of IT expertise alongside increased employee mobility, cloud-based analytics is proving an ideal combination of services, enabling companies to transition business intelligence, data warehousing and online analytical processing (OLAP) to the cloud.
Cloud-based business analytics allows companies to gather key performance indicators (KPIs) and easily share data through an organization via mobile devices. Utilizing a software-as-a-service (SaaS) licensing model, Cloud BI offers the savings of a "pay-as-you-use" model and saves costs on software and hardware purchases.
Do you know of any other key industry reports hitting the table? Let us know the details. Add your comments below.
