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Analytics as a Service Market worth $39.8 billion by 2029- Exclusive Report by MarketsandMarkets™

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CHICAGO, May 30, 2024 /PRNewswire/ — With an emphasis on real-time analytics and data privacy, growing adoption by SMEs, and cutting-edge technologies like AI and IoT, the Analytics as a Service (AaaS) market has a bright future. AaaS market development and innovation will be further propelled by increased customisation, smooth integration with business applications, and global market expansion.

The Analytics as a Service Market is projected to grow from USD 13.3 billion in 2024 to USD 39.8 billion by 2029, at a compound annual growth rate (CAGR) of 24.5% during the forecast period, according to a new report by MarketsandMarkets™. The Analytics as a Service Market is expected to grow significantly during the forecast period, owing to various business drivers like increasing availability of data connectivity through multi-cloud and hybrid environments, rise in demand for advanced analytics techniques due to increasing data volumes, and the proliferation of big data, IoT devices, and digital transformation initiatives across industries.

Browse in-depth TOC on “Analytics as a Service Market”

300 – Tables
75 – Figures
320 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2019–2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

USD (Billion)

Segments Covered

Software, services, data type, data processing, analytics type, vertical and region

Geographies covered

North America, Asia Pacific, Europe, Middle East & Africa, and Latin America

Companies covered

Microsoft (US), IBM (US), Google (US), Oracle (US), SAP (Germany), AWS (US), SAS Institute (US), Teradata (US), Qlik (US), Salesforce (US), MicroStrategy (US), Cloudera (US), Altair (US), TIBCO Software (US), Kellton (India), Innowise (US), Alteryx (US), Jaspersoft (US), MSys Technologies (India), Synoptek (US), Flatworld Solutions (India), Protiviti (US), Polestar Solutions (India), Rapyder (India), ScienceSoft (US), GoodData (US), Kyvos Insights (US), DataToBiz (India), ThoughtSpot (US), Sisense (Israel), and eCloudChain (Germany).

By Software type, Advanced Analytics software type to register for the largest market share during the forecast period.

Advanced analytics software type is projected to hold the largest market share in the AaaS market during the forecast period due to a surge in demand for sophisticated data analysis capabilities that extend beyond traditional business intelligence. Advanced Analytics, encompassing predictive analytics, machine learning, and data mining, is becoming integral to AaaS offerings due to its ability to uncover deeper insights and drive strategic business decisions. This trend is fueled by the increasing complexity and volume of data generated across industries, necessitating more powerful tools to extract actionable insights. Furthermore, the integration of AI and ML algorithms within AaaS platforms enhances predictive accuracy and operational efficiency, making these advanced solutions highly attractive to enterprises seeking a competitive edge.

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By data processing, batch processing segment is poised for the fastest growth rate during the forecast period.

Batch processing data processing segment is poised for the fastest growth in AaaS market. The growth of batch processing within the Analytics as a Service Market is significantly driven by its ability to handle large volumes of data efficiently and cost-effectively. Batch processing enables organizations to process extensive datasets in scheduled intervals, making it ideal for handling periodic data analysis tasks such as end-of-day reporting, large-scale data transformations, and data integration from multiple sources. This capability is particularly beneficial for industries like finance, healthcare, and retail, which require regular, comprehensive data analysis to inform decision-making.

By region, North America to account for the largest market during the forecast period.

The Analytics as a Service Market in North America is experiencing significant growth, driven by the region’s strong technological infrastructure and high adoption rates of advanced analytics solutions across various sectors. Key industries such as finance, healthcare, retail, and manufacturing are increasingly leveraging AaaS to gain actionable insights and enhance decision-making processes. The presence of major technology companies, combined with a robust startup ecosystem, further accelerates market expansion. Additionally, the increasing volume of data generated from IoT devices, social media, and other digital channels is propelling the demand for scalable and flexible analytics services.

Top Key Companies in Analytics as a Service Market:

Some major players in the AaaS market include Microsoft (US), IBM (US), Google (US), Oracle (US), SAP (Germany), AWS (US), SAS Institute (US), Teradata (US), Qlik (US), Salesforce (US).

Recent Developments:

In April 2024 Dataproc introduces the ability to deploy clusters with Compute Engine machine types. This enhancement offers greater flexibility in resource allocation, allowing users to tailor cluster configurations to their specific workload requirements more precisely.In March 2024, The March 2024 update of Oracle Analytics Cloud brought forth numerous improvements spanning exploring, dashboarding, storytelling, data connectivity, modeling, preparation, augmented analytics, machine learning, performance, compliance, and administration.In March 2024, Microsoft expanded its collaboration with NVIDIA to bring the power of generative AI, the cloud and accelerated computing to healthcare and life sciences organizations. The collaboration will bring together the global scale, security and advanced computing capabilities of Microsoft Azure with NVIDIA DGX Cloud and the NVIDIA Clara suite. Stability AI accelerated its work Amazon to make its open-source tools and models accessible to startups, academics, and businesses worldwide.In February 2024, IBM Planning Analytics for Excel version 2.0.93 brings significant improvements, including enhanced performance, increased stability, and new features such as dynamic charting capabilities and improved report formatting options.In January 2024, Azure Stream Analytics introduces new features and improvements in its no-code editor. The updates include improved error handling, enhanced debugging capabilities, and increased support for complex queries, empowering users to efficiently build and deploy streaming data processing pipelines for cloud analytics applications.

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Analytics as a Service Market Advantages:

The requirement for a substantial upfront investment in software, infrastructure, and qualified staff is eliminated by AaaS. Through a subscription approach, businesses may access advanced analytics tools and capabilities, saving money on both capital and operating expenses.Platforms provided by AaaS can readily expand to meet changing demands for analysis and data volumes. Businesses can scale up or down as needed and only pay for what they use by adjusting their consumption based on demand.Users can access analytics services and tools from any location with an internet connection thanks to AaaS. Because of its adaptability, organisations may use analytics without being limited by geography and can work remotely.The newest analytical technologies, such as AI, machine learning, and big data processing, are frequently integrated into AaaS platforms. This gives companies access to state-of-the-art resources for complicated data analysis, real-time data processing, and predictive analytics.Businesses may swiftly implement analytics solutions using AaaS instead of having to wait for the drawn-out setup and integration procedures of conventional on-premise systems. Faster time to insight and more flexible decision-making are made possible by this.Strong data integration features are often provided by AaaS solutions, enabling organisations to combine data from multiple sources. By using an integrated method, data quality is improved and a holistic perspective is provided for analysis that is more accurate.Numerous AaaS platforms have features and dashboards that can be customised to meet certain company requirements. This enables businesses to concentrate on the measurements and insights that are most pertinent to their operations.

Report Objectives

To define, describe, and predict the Analytics as a Service Market by offering (software (type, integration) and services), data type, data processing, analytics type, vertical, and regionTo provide detailed information related to major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growthTo analyze the micro markets with respect to individual growth trends, prospects, and their contribution to the total marketTo analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Analytics as a Service MarketTo analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments for five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile key players and comprehensively analyze their market rankings and core competencies.To analyze the competitive developments, such as partnerships, product launches, and mergers & acquisitions, in the Analytics as a Service MarketTo analyze the impact of recession across all regions in the Analytics as a Service Market.

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Procurement Analytics Market– Global Forecast to 2026

Get access to the latest updates on Analytics as a Service Companies and Analytics as a Service Industry

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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/C O R R E C T I O N from Source — Carbon Upcycling Technologies Inc./

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In the news release, Carbon Upcycling, Minnesota DOT and National Road Research Alliance Joint Study Shows High-Performance Low-Carbon Concrete is 30% Stronger than Existing Roadways, issued 12-Nov-2024 by Carbon Upcycling Technologies Inc. over CNW, we are advised by the company that corrections were made to the release. The complete, corected release follows:

Carbon Upcycling, Minnesota DOT and National Road Research Alliance Joint Study Shows High-Performance Low-Carbon Concrete is Stronger than Existing Roadways

Carbon Upcycling’s concrete mix demonstrated a 28% increase in strength at 28 days, while reducing cementitious content by 12.3%, setting a new standard for low-carbon sustainable infrastructure

CALGARY, AB, Nov. 12, 2024 /CNW/ – Carbon Upcycling Technologies, Inc. (Carbon Upcycling), a leader in decarbonization and carbon capture & utilization (CCU) for hard-to-abate industries, along with, the Minnesota Department of Transportation (MnDOT) and the National Road Research Alliance (NRRA) has successfully completed the construction phase of a multi-year study on the use of low-carbon cement in highways. The results highlight Carbon Upcycling’s ability to be a drop-in solution for reducing carbon-intensive cement in concrete.

The study, managed by Sutter Engineering LLC and sponsored by the National Road Research Alliance (NRRA), rigorously tested 16 unique concrete mixtures in real-world conditions on an active Minnesota highway to identify options that could reduce the carbon footprint of infrastructure without sacrificing strength or durability. Completed in early 2024, the study aimed to find materials that could significantly lower the carbon footprint of concrete paving without compromising durability. Carbon Upcycling’s CO2-enhanced mix achieved a 12.3% reduction in cement content while matching the workability of traditional concrete, allowing seamless handling, placement, and setting times for construction crews. These findings provide valuable data to guide future low-carbon infrastructure projects across North America, as the seamless integration into existing workflows offers a drop-in, low-carbon alternative without compromising ease of use or performance.

The study revealed significant performance and environmental benefits of Carbon Upcycling’s concrete mix:

Increased Strength: 28% stronger at 28 days compared to the advanced control concrete.Reduced Cement Use: The CCU process allowed a 12.3% reduction in cementitious material, effectively reducing both carbon emissions and material costs.Greater Resiliency to Natural Elements: 32% increase in chloride resistivity for more durable concrete.

“Infrastructure is the very foundation of a sustainable future, and at Carbon Upcycling we’re committed to creating materials that support this vision while establishing a secure, stable North American supply chain,” said Apoorv Sinha, CEO of Carbon Upcycling. “Our collaboration with the Minnesota Department of Transportation highlights how Carbon Upcycling can transform captured emissions into local materials that strengthen our infrastructure. By focusing on resilience and sustainability, we’re contributing to a vision where our essential structures are clean and built to last.”

Carbon Upcycling partnered with BURNCO to deploy and test 140 m³ of its CCU-enhanced concrete mix, monitored by Larry Sutter, Principal Engineer at Sutter Engineering LLC, for strength, workability, and environmental impact on a Minnesota highway.

“Carbon Upcycling submitted a very impressive mixture design to the trial,” said Larry Sutter, MnDOT’s Principal Engineer and the project’s technical manager. “Their material not only achieved the highest reduction in cementitious content among all submissions but also demonstrated remarkable strength. By embedding CO2 and reducing the reliance on portland cement, Carbon Upcycling’s technology addresses one of the concrete industry’s most pressing challenges—lowering its carbon footprint as global demand for cement is expected to double by 2050. This project data will be invaluable as the industry works toward its 2030 CO2 reduction targets.”

Since 2021, Carbon Upcycling has deployed over 3,000 tonnes of low-carbon cement and has attracted investment from some of the world’s largest cement industry players such as Cemex, CRH and Titan Cement.

About Carbon Upcycling Technologies:
Carbon Upcycling is a decarbonization and carbon capture & utilization technology provider for the world’s hardest-to-abate industries. The company’s commercial technology upcycles point-source industrial CO2 emissions and local industrial waste materials into high-performance, low-carbon cement alternatives. The company is currently commissioning its first-of-a-kind commercial system at Canada’s largest cement plant. Carbon Upcycling has received global recognition for its industry-leading innovation. Notably, Carbon Upcycling was named a 2023 and 2024 Global Cleantech 100, Reuter’s Top 100 Innovators Leading the Energy Transition, and a World Economic Forum 2024 Technology Pioneer.

For more information, visit www.carbonupcycling.com.

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SOURCE Carbon Upcycling Technologies Inc.

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Massachusetts Community Colleges Partner with AMSimpkins & Associates to Implement their S.A.F.E. Platform in Efforts to Combat Student Applicant Fraud

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This partnership marks a significant milestone for Massachusetts Community Colleges in their efforts to prevent fraud and ensure equitable access to education. The implementation of S.A.F.E. will provide the institutions with cutting-edge technology and reliable safeguards, solidifying their reputation as forward-thinking leaders in the fight against student application fraud.

ATLANTA, Nov. 15, 2024 /PRNewswire-PRWeb/ — AMSimpkins & Associates, a leader in cutting-edge cybersecurity solutions for educational institutions, is proud to announce that Massachusetts Community Colleges have selected the S.A.F.E. (Student Application Fraudulent Examination) platform to bolster their efforts in preventing and detecting student application fraud. This strategic move underscores Massachusetts’ commitment to maintaining the integrity of its admissions process and ensuring that valuable educational resources reach legitimate students.

“We’re excited to partner with Massachusetts Community Colleges and support their mission to provide quality education to genuine, eligible students.”

In recent years, fraudulent applications and financial aid scams have become increasingly pervasive issues, especially as institutions pivot towards more digital and remote application processes. By adopting the S.A.F.E. platform, Massachusetts Community Colleges are taking a proactive stance to safeguard their institutions against evolving fraud tactics.

S.A.F.E., developed by AMSimpkins & Associates, is a comprehensive fraud detection and prevention solution that leverages advanced data analytics, artificial intelligence (AI), machine learning algorithms, and real-time monitoring to identify potentially fraudulent activity within the student application and financial aid processes. With over 50 colleges and universities already utilizing the S.A.F.E. platform, Massachusetts Community Colleges now join a growing community of educational institutions committed to integrity, transparency, and security.

“S.A.F.E. is built from the ground up with the unique needs of higher education institutions in mind,” said Maurice Simpkins, President of AMSimpkins & Associates. “With our deep understanding of the higher education landscape, we’ve created a solution that not only detects and prevents fraud but also allows institutions to seamlessly integrate these checks into their admissions workflows. We’re excited to partner with Massachusetts Community Colleges and support their mission to provide quality education to genuine, eligible students.”

The S.A.F.E. platform offers a robust set of features to prevent and detect fraudulent applications, including:

Real-time Identity Verification: Through partnerships with industry-leading identity verification services, S.A.F.E. ensures that applicants are who they claim to be by cross-referencing multiple data points, including Social Security Number validation, address checks, and real-time ID verification.AI-Driven Anomaly Detection: S.A.F.E. continuously monitors and learns from application data patterns, enabling it to detect suspicious behaviors that could indicate fraudulent activity.Geo-Blocking and Risk Scoring: Institutions can customize geo-blocking settings to restrict access from high-risk regions and employ dynamic risk scoring based on user interactions, device profiling, and behavior analytics.Customizable Fraud Rules and Policies: The platform allows administrators to set specific fraud thresholds and responses, tailoring the system’s sensitivity to meet the unique needs of each college or university.Real-time Alerts and Data Sharing: S.A.F.E. sends real-time alerts to designated stakeholders if suspicious activities are detected, allowing for quick responses and preventative actions.Additionally, the platform facilitates data sharing across institutions to block repeated offenders system-wide.

In addition to its fraud prevention features, AMSimpkins & Associates also provides cybersecurity consulting and support through partnerships with Cybersecurity organizations, adding another layer of protection for Massachusetts Community Colleges. This comprehensive approach aligns perfectly with the state’s vision of creating a secure and resilient higher education environment.

About AMSimpkins & Associates

AMSimpkins & Associates is an industry-leading provider of cybersecurity solutions focused on safeguarding educational institutions. Their flagship product, S.A.F.E. (Student Application Fraudulent Examination), is specifically designed to address the complex challenges of fraud in higher education admissions and financial aid. By partnering with colleges, universities, and technology providers, AMSimpkins & Associates is committed to maintaining the integrity of education by keeping students and institutions safe from fraud.

For more information about AMSimpkins & Associates and the S.A.F.E. platform, please visit amsa-highered.com

Media Contact

LAQWACIA SIMPKINS, AMSimpkins and Associates, 1 6786824193, LSIMPKINS@AMSA-CONSULTING.COM, AMSimpkins and Associates

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bswift Acquires Evive: Launches Integrated Personalized Engagement Platform

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bswift announces a fully integrated personalized engagement solution aimed at delivering better health care outcomes through data-driven personalization, predictive analytics, and behavioral science. 

CHICAGO, Nov. 15, 2024 /PRNewswire/ — bswift LLC, an industry leader in employee benefits technology and administration, announced today the launch of its fully-integrated personalization and engagement engine. This solution is a result of bswift’s recent acquisition of Evive Health, LLC, a pioneer in the field with a demonstrated track record of driving outcomes for employees, employers and health plans by optimizing benefit understanding and utilization, resources, and programs for millions of Americans. 

“By bringing bswift and Evive together, we have integrated a powerful engagement platform,” – bswift CEO, Ted Bloomberg.

With this exciting investment, bswift reinforces its mission to lead the benefits administration space and strengthens its role as a strategic ally for its clients – empowering them to deliver on their benefits strategies by motivating plan participants to manage their health and wellbeing proactively.

“Our clients and partners consistently tell us that member engagement, personalized experiences, and cost management are their top strategic priorities today and in the foreseeable future,” said bswift CEO, Ted Bloomberg. “By bringing bswift and Evive together, we have integrated a powerful engagement platform into our core benefits administration solution. That is a first, and we are delighted to immediately and directly support employers’ critical priorities with proven, industry-leading capabilities.” 

Using data-driven personalization and the power of predictive analytics and behavioral science, bswift’s personalization toolset is proven to increase benefits awareness, engagement, and utilization by delivering tailored and actionable messages about the right benefit at the right time. Demonstrated results include driving a 3X increase in health actions recommended by qualified providers, and a 12% increase in annual preventative care screening visits. 

“We’re thrilled to be the first in our market to deliver this supercharged engagement capability across all aspects of the user experience,” said bswift Executive Vice President of Product, Matt Waldrup. “bswift is completely reimagining the benefits experience with personalized, data-driven, multi-channel communications that engage employees across their physical, emotional, financial, and personal wellbeing, empowering people to make the most of their benefits.” 

bswift’s new personalization engine empowers employers and employees: 

Personalized, next-best-action journeysReward and incentive-based gamification to boost engagementOn-the-go access to benefits and incentive activities via mobile appRobust analytics and reporting for HR teams to track campaign ROI and engagement metrics

Employers can now leverage bswift’s expertise to systematically deliver smarter, more relevant communications to promote healthier habits, optimize benefit utilization – and maximize employee health outcomes. 

About bswift 
bswift LLC offers cloud-based technology and services that transform the way employees perceive and engage with their benefits. With adaptive technology, service excellence, and compassionate service, bswift serves millions worldwide. Their comprehensive suite of solutions provides intuitive, personalized online enrollment, interactive decision support, ACA compliance reporting, and employee engagement. Visit www.bswift.com to learn more. 

About Evive 

Evive is a digital communications and engagement platform that helps health plans and employers optimize the benefits, resources and programs they offer their employees. Using data-driven personalization, closed-loop engagement reporting and the power of predictive analytics and behavioral science, Evive increases benefits awareness, engagement and utilization to deliver the right message about the right benefit at the right time. Visit www.goevive.com to learn more.

Media Contact: 
Zoya Siddiqui 
Senior Director, Marketing 
zsiddiqui@bswift.com

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