Global Cross-Cloud Analytics Market Set to Reach $8.6 Bn in 2023, Eyeing $59.8 Bn by 2033 – Futu…
– Sneha Varghese
The global cross-cloud analytics market is likely to register a CAGR of 19.6% and reach a value of US$ 8.6 bn by 2023.
Moreover, with the pace being maintained by the cloud analytics industry, the total market worth is expected to surpass US$ 59.8 bn by 2033.
In recent times, the rising penetration of cloud-based services and surge in data generated from a wide range of end-use industries are presumed to propel the growth of the cross-cloud analytics market.
Additionally, the increasing efforts by the major market players in launching specialized cross-cloud analytics solutions is believed to be yet another factor responsible for the growth of the cross-cloud analytics industry.
Cloud analytics is presently one of the major technology trends, as it is revolutionizing the entire analytics scene.
In its simplest form, cloud analytics is the practice of analyzing big data.
It leverages the storage and computing power of the cloud to process unlimited volumes of data.
This enables accurate and cost-effective data analytics for businesses.
Cross-cloud analytics is the intersection between cloud analytics and cross-cloud services.
Cross-cloud services refer to a form of cloud computing wherein computing resources and services are shared across multiple public cloud providers, or a mix of private and public cloud providers.
It allows users to redistribute their workloads across multiple service providers.
The main benefits of cross-cloud analytics include increased reliability and cost savings.
Major players such as IBM Corporation, Amazon Web Services (AWS), Oracle Corporation, Microsoft Corporation, and Google Cloud Platform are investing heavily in the development of advanced cross-cloud analytics solutions.
These players have broadened their product catalogue to include a wide variety of cross-cloud analytics services.
Moreover, with increasing demand for hybrid deployment models, this is expected to create opportunities in the cross-cloud analytics industry.
To become one of the top market contenders, tech giants such as IBM, Oracle, Microsoft, and Google are making strategic moves such as collaborations and partnerships.
Moreover, IBM and Oracle have also been offering various incentives, discounts, and free cloud services to lure the customers.
By Solution Type
• Cloud Storage
• Cloud Integration
• Cloud Security & Governance
• Cloud Analytics
By Deployment Model Type
• Public Cloud
• Private Cloud
• Hybrid Cloud
By End-Use Industry
• BFSI
• Media & Communication
• Retail
• IT &
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