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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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Groundbreaking Study Explores THC Beverages as a Wellness Alternative to Alcohol

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PHILADELPHIA, April 10, 2025 /PRNewswire/ — MoreBetter, a leader in Real-World-Data collection and research, has announced a pioneering study aimed at understanding the impact of THC-infused beverages on alcohol consumption, mood, and overall quality of life. This innovative effort comes at a critical time, as alcohol sales are experiencing a decline, and as consumers are increasingly curious about trying “better-for-you” alcohol alternatives.

The observational research study is currently recruiting up to 2,000 qualified participants who will provide daily feedback over a three week period on their infused beverage and alcohol consumption patterns, as well as self-assessments on their overall quality of life. The study is sponsored by multiple leading beverage brands, who are collectively supplying participants with free infused beverage products to use throughout the course of the study.

“By collecting consumer-reported outcomes from thousands of consumers, over a multi-week basis, we provide brands and industry advocates with the Real World Data they need to understand how infused beverages are impacting consumers’ quality of life,” says MoreBetter COO, Tyler Dautrich.

“Our mission has always been to provide a healthier, more mindful way to enjoy social moments, and we believe this study will help us better understand and validate the positive impact of our product,” said Aaron Nosbisch, Founder and CEO at BRĒZ, a sponsor of the study.

Timely Research Supported by Industry Leaders

In January of 2025, the outgoing Surgeon General released the New Advisory Link Between Alcohol and Cancer Risk which outlined how alcohol is the third leading preventable cause of cancer, despite less than half of Americans recognising it as a risk factor for cancer. As consumers begin to seek alcohol alternatives, THC-Infused Beverage brands want to gain insight into how consumers are using their products and what perceived lifestyle benefits or wellness outcomes might result after consumption.

“The cannabis plant should be better researched, and we are hopeful that this is just the first step in learning how these products can improve people’s lives as acceptance, access, and consumption of infused beverages expands across the US,” said Adam Terry, CEO of Cantrip, also a sponsor of the study.

“This pioneering study reflects our commitment at Iconic Tonics to reshape the future of adult beverages—delivering functional, flavorful, and elevated alternatives that meet the moment. As more consumers explore mindful options, real-world data like this will be essential in understanding how THC-infused beverages are enhancing quality of life and transforming social rituals. Our partnership with MoreBetter isn’t just about validating our brands—it’s about leading a cultural shift with integrity, innovation, and style,” said Evan Eneman, CEO and co-founder of Iconic Tonics, alongside entertainment icon and entrepreneur Snoop Dogg.

While canned THC-Infused seltzers are the primary form factor being studied, MoreBetter will also investigate 750ml bottles used as mixers, dry powder mixes, and 1.5-2 oz “shots” in an effort to study how various doses and form factors impact consumer’s perceived experiences.

“Participating in this study allows us to stay at the forefront of innovation while helping to shape standards that prioritize safety, quality, and consumer education,” said Justin Tidwell, CEO of Nowadays, about sponsoring the study.

Join the Infused Beverage Study

Consumers over the age of twenty-one are invited to join the study and share their day-to-day experiences with using infused beverages. Individuals can check if they’re eligible for the study at this website: mystudi.es/bevstudy.

About MoreBetter

MoreBetter is a software and contract research organization (CRO) specializing in Real World Data collection on the use and performance of functional ingredients and consumer wellness products. Clients include dietary supplement manufacturers, federal and state government agencies, and global academic researchers. MoreBetter’s mission is to empower consumers to make data-informed decisions in pursuit of better personal health and wellness. Learn more at www.morebetter.ltd.

Contact Information

Tyler Dautrich
COO
MoreBetter
610-406-7505
tyler@morebetter.ltd
www.morebetter.ltd

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Six Red Marbles and T.I.B. Editorial Inc. Announce Strategic Partnership to Expand Spanish-Language Educational Offerings

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Six Red Marbles and T.I.B. Editorial Inc. have partnered to provide high-quality Spanish-language and bilingual K–12 educational materials. This collaboration expands SRM’s ability to offer full-service, multilingual solutions—supporting publishers, school districts, and dual-language programs with culturally responsive, research-backed content.

BOSTON, April 10, 2025 /PRNewswire-PRWeb/ — Six Red Marbles (SRM), a leader in innovative educational content and curriculum development, has partnered with T.I.B. Editorial Inc., a premier provider of Spanish-language editorial services, to enhance bilingual and dual-language educational materials for the K-12 market.

“Together, we’re bringing decades of expertise in Spanish-language publishing and bilingual education to ensure students receive engaging, high-quality literature tailored specifically for educational purposes and learning materials that support academic success in both English and Spanish.”

This partnership enables SRM to expand its service offerings by leveraging T.I.B. Editorial’s expertise in Spanish-language content development, bilingual education, and transadaptation. Through this collaboration, SRM and T.I.B. Editorial will provide high-quality Spanish-language instructional materials, including decodable readers, structured literacy programs, culturally responsive curriculum, multimedia learning tools, and much more.

This partnership also expands SRM’s ability to offer even more full-service solutions, ensuring that clients can execute large-scale, multilingual projects with a single, trusted partner. SRM’s proven expertise in full-service educational development, spanning instructional design, content creation, and digital learning solutions combined with T.I.B. Editorial’s deep knowledge of Spanish-language publishing and bilingual education, allows both organizations to deliver comprehensive learning experiences at scale.

“We’re thrilled to partner with T.I.B. Editorial and Andrés Pi Andreu, an award-winning bilingual author and curriculum expert,” said Bill Scroggie, EVP of Learning Solutions at Six Red Marbles. “This collaboration allows us to offer our clients an even broader range of services. With T.I.B.’s exceptional Spanish-language capabilities, SRM can now be a true one-stop shop for multilingual program development.”

The collaboration between SRM and T.I.B. Editorial aims to address the increasing demand for bilingual and Spanish-language education by offering:

Bilingual & Dual-Language Curriculum Development: Spanish-language materials aligned with best practices in cross-linguistic transfer, Science of Reading, and multimodal literacy.Decodable Readers & Structured Literacy Materials: Research-based resources designed to support Spanish-speaking and bilingual learners.Culturally Responsive Content & Heritage Spanish Programs: Authentic, engaging materials that reflect Latin and Hispanic cultures and diverse linguistic experiences.Spanish Translations & Transadaptations: Pedagogical adaptation of English materials into Spanish to ensure linguistic and cultural accuracy.Innovative Digital & Multimedia Learning Tools: Spanish-language e-learning solutions, interactive content, and bilingual voiceover services.

“This collaboration bridges a crucial gap in K–12 bilingual education,” said Andrés Pi Andreu, Founder of T.I.B. Editorial Inc. “Together, we’re bringing decades of expertise in Spanish-language publishing and bilingual education to ensure students receive engaging, high-quality literature tailored specifically for educational purposes and learning materials that support academic success in both English and Spanish.”

With this partnership, SRM and T.I.B. Editorial will offer publishers and educational institutions a full suite of bilingual content solutions, allowing them to tap into the rapidly growing Spanish-language education market. The collaboration will support dual-language programs, heritage Spanish speakers, and districts seeking culturally relevant instructional materials.

About Six Red Marbles

Six Red Marbles is a leading provider of innovative learning solutions, offering curriculum development, instructional design, and educational technology services to publishers, school districts, higher education institutions, and corporate learning programs. With a focus on research-backed pedagogy and engaging content, SRM delivers impactful learning experiences that meet the evolving needs of learners worldwide. Learn more at: https://www.sixredmarbles.com/

About T.I.B. Editorial Inc.

T.I.B. Editorial Inc. specializes in editorial services for the K-12 market, with expertise in Spanish-language content development, bilingual education, and transadaptation. Headquartered in Miami, T.I.B. Editorial provides publishers with high-quality Spanish-language instructional materials, decodable readers, heritage Spanish programs, and multimedia learning tools that align with state and district education standards.

For more information about the partnership, please contact:

Robin Zaccardo, Chief Experience Officer

Six Red Marbles

contact@sixredmarbles.com

Media Contact

Robin Zaccardo, Six Red Marbles, 1 8575889000, contact@sixredmarbles.com, https://sixredmarbles.com 

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Smith Consulting Group Celebrates Fifteen Years In Business

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Smith Consulting Group Celebrates Fifteen Years Of Helping Banks and Credit Unions

LAKE MARY, Fla., April 10, 2025 /PRNewswire-PRWeb/ — Smith Consulting Group is celebrating fifteen years of helping banks and credit unions of all shapes and sizes overcome challenges and achieve success. Starting with just three people, Smith Consulting Group (“SCG”) has grown to a team of over seventy people consisting of the some of the most respected experts in the fintech and financial services industry.

“Technological advances, consumer demands, regulatory compliance, and other challenges require expertise that is difficult for banks and credit unions to manage internally in a cost and time effective manner. SCG continues to grow our team to meet these demands for our clients.” – Darren Smith, CEO

“It’s been an incredible journey for both SCG and our clients,” said Darren Smith, Founder and CEO of Smith Consulting Group. “The environment that banks and credit unions operate in has changed significantly over the last fifteen years, and it continues to change on an almost daily basis. Technological advances, evolving consumer demands and expectations, regulatory compliance, and other challenges require the addition of new areas of expertise that are almost impossible for banks and credit unions to manage internally in a cost and time effective manner. That is why SCG continues to grow our team to meet these demands for our clients.”

“I have known Darren for many years, including the time we spent together at Fiserv, and it has been inspiring to watch him build SCG and use his unique ability to stay ahead of the curve to the advantage of SCG’s clients,” said John Macaluso, Chief Operating Officer for Smith Consulting Group. “Under Darren’s leadership, SCG has assembled an unsurpassed team of experts that encompass everything banks and credit unions need to meet the demands of today’s banking environment. This team and their skills continue to adjust to make sure that whatever challenges a bank or credit union faces SCG can help them overcome them. Whatever comes next SCG will be ready for it, and so will our clients.”

About Smith Consulting Group: Our team of banking and credit union professionals have decades of experience dealing with all aspects of bank and credit union operations. In addition to our extensive work with banking software system conversions and implementations, our team also has a broad range of experience working with the various systems required in your bank’s operations including Core, Teller, Customer Service and Call Center Platforms, ECM Systems, Document Development and Delivery Systems, Online and Mobile Banking, and various other interfaces.

To learn more about Smith Consulting Group visit www.smithconsultinggrp.com, email them at info@smithconsultinggrp.com, or call 866-4-SmithGrp.

Media Contact

Darren Smith, Smith Consulting Group, 1 (321) 263-6955, darrensmith@smithconsultinggrp.com, smithconsultinggrp.com

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