Analytics-as-a-Service (AaaS) provides subscription-based data analytics software and procedures through the cloud. AaaS uses data mining, predictive analytics, and AI to effectively reveal trends and insights from existing data sets. These solutions offer businesses an alternative to developing internal hardware setups just to perform business analytics.
The global analytics as a service market size was valued at USD 9.62 Billion in 2018 and is projected to reach USD 126.48 Billion by 2026, registering a CAGR of 38.1% from 2019 to 2026.
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AaaS solutions allow data experts to understand diverse trends, such as identifying opportunities for financial growth, financial benchmarking against industry standards, and identifying financial implications. These factors are expected to further boost the Analytics as a Service market size.
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The report focuses on the growth prospects, restraints, and trends of the analytics as a service market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors, such as suppliers’ bargaining power, competitive intensity of competitors, the threat of new entrants, threat of substitutes, and buyers’ bargaining power on the global market.
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