Cloud and Data Analytics Market Overview

Introduction

The demand for cloud services from AWS, Azure, and Google Cloud Platform is rising as enterprises seek scalable, secure infrastructure. Valued at $602B in 2023, the global cloud computing market is expected to grow at a 21% CAGR through 2030, driven by the need for operational efficiency in sectors like finance, healthcare, and retail. Emerging technologies further boost cloud adoption for advanced data processing and real-time analytics. The data analytics market, projected to surpass $303B by 2030 with a 28% CAGR, is propelled by AI, machine learning, and cloud-based platforms like Snowflake and Databricks. These tools enable data-driven decision-making, enhancing competitive advantage and operational efficiency. As data volumes grow, businesses emphasize data governance, security, and compliance. The rise of low-code analytics platforms also broadens access to data-driven strategies. By 2025, AI and machine learning will support real-time decision-making, with hybrid and multi-cloud strategies offering greater flexibility. Stricter data privacy regulations will increase focus on governance, and automation within analytics will streamline workflows. Envoy observes that cloud services and data analytics consistently rank as one of the top M&A priorities for strategic buyers and investors, with strong interest across AWS, Azure, GCP, Databricks, and Snowflake.

Key Trends

• Hybrid and multi-cloud strategies are increasingly popular for their flexibility, scalability, and security. Over 90% of companies use cloud environments, and 97% of IT leaders plan to adopt multi-cloud strategies in the next year, aiming for adaptable, resilient IT infrastructures to meet evolving business and technology demands.
• Edge computing is essential for real-time data processing and low latency, complementing cloud computing by enabling immediate, on-site processing with seamless data flow to the cloud. This approach addresses the rising need for faster, efficient data handling at the network’s edge.
• Focus on Data Governance: The focus on data governance is growing, as data remains essential to business operations, analytics, machine learning, and AI. According to Dataversity around 60% of corporate leaders now emphasize data governance, placing it significantly above AI initiatives for data and security experts.
• As data volume and diversity continue to expand, privacy and security have become critical priorities, driving the demand for innovative solutions to protect sensitive information from breaches, unauthorized access, and misuse.