The global cloud analytics market size is projected to reach USD 72.40 billion by the end of 2026, spurred by increasing number of product launches by major companies, according to Fortune Business Insights.
The increasing use of cloud platforms in fraud detection software will have a positive impact on the growth of the market in the coming years, said a report published by Fortune Business Insights. The market was worth USD 13.15 billion in 2018 and will exhibit a CAGR of 24.3% during the forecast period, 2019-2026.
Cloud analytics is a platform through which businesses can help make faster strategic decisions. It helps them get faster access to real time data. The ability of cloud analytics to enhance the overall business operations will have a direct impact on the growth of the market in the coming years.
Additionally, the increasing use of the product in fraud detection activities will lead to a wider product adoption across the world. The use of concepts such as the IoT and AI will contribute to the growing demand for the product. Cloud analytics help companies obtain detailed information of the users and subsequently eliminate the need for complex processes. The increasing number of product launches by major companies, with the aim of catering to increasing consumer demand will aid the growth of the market in the forthcoming years, said the report.
The report analyses the ongoing dialysis market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years, driven by the presence of several large scale companies in several countries across this region. As of 2018, the market in North America was worth USD 34.81 billion and this value is likely to increase further in the forthcoming years.
