By Deployment Type – Segment Analysis
By deployment type, the market is segmented into public, private and hybrid. Among these, the public cloud segment is witnessing a significant growth rate during the forecast period 2020-2025. Growth in this segment is attributed to the lower costs and bandwidth efficiency provided by public cloud servers. A cloud service provider operates the public cloud infrastructure over the internet, thereby offering tremendous value to the businesses in terms of better economics, agility, and ease of data accessibility. Moreover, this deployment model is well suited to meet the collaborative needs of companies and offer rapid and seamless scalability with the ability to consume resources over a pay-per-use basis. More and more organizations in Indonesia are implementing public cloud deployment to provide web-based email, handle online office applications, expand storage capabilities and testing a d development environments. This in turn is set to fuel the market growth during the coming years.
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By End-User – Segment Analysis
The BFSI sector is undergoing revolutionary changes with the adoption of advanced technology throughout the value chain. Moreover, the Fintech companies in Indonesia have been leading the technological transition with the help of cloud analytics, thereby holding the major share among the end user verticals during the forecast period 2020-2025. With the large customer base and growing competition in the market, the BFSI organizations are in a better place to leverage cloud – based technologies for improving their operational efficiency and enhancing the customer experience. The cloud analytics platform is helping banks and financial firms to secure transactions and smooth customer experience by ensuring confidentiality, integrity and availability of information over the internet, which is one of the major factors driving the growth of BFSI vertical in this region.
Drivers – Indonesia Cloud Analytics market
Increasing demand from businesses to gain actionable insights from unstructured data to boost the market
With the rising digitalization in the region, availability of a wide range of data, and the desire to remain at the forefront of competition have led organizations to focus on cloud analytics to adopt the strategic decision-making process. Businesses these days are moving towards digitalization to improve business strategies by analysing a large amount of unstructured data flowing through various platforms. The rising demand among companies to gain insights from data and understand customer trends and launch products accordingly is one of the major drivers for the growth of the Indonesia cloud analytics market.
Growing adoption of machine learning and artificial intelligence aid to the market growth
Increasing dependence on machine learning and artificial intelligence is changing landscape of cloud analytics for visualising, analysing and modelling data-driven business strategies. The integration of ML and AI with cloud analytics helps businesses to enhance their visualisation capabilities and make complex data accessible, understandable and more usable through visual representation. With real-time insights from AI, businesses are now able to understand a large amount of data further enabling them in a better customer experience, accelerating digital business and improving communications network, security and application performance.
Challenges – Indonesia Cloud Analytics market
Security issues caused in many of the Cloud Analytics platforms are majorly causing the hindrance in the market growth rate. Security is a significant factor when it comes to cloud analytics and computing challenges. Security has been the most significant concern because it involves a lot of data. Analytics deals with a lot of private data, so the cloud-based software that is used should have built-in flexibilities that allow it to work efficiently with popular security tools. Security is such a big concern that software vendors and organizations have to always be on the lookout for the latest trends and new designs for their software to work with different security protocols.
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Indonesia Cloud Analytics market. Indonesia Cloud Analytics driver market is expected to be dominated by major companies such asSAP SE, Oracle Corporation, Microsoft Corporation, IBM Corporation, Teradata Corporation, Google Incorporation, Hewlett-Packard, SAS Institute Inc., Tableau Software, and Micro strategy among others.
• In January 2020, GoodData Corp. extended its new Freemium tier pricing to more users with cloud data warehouses SnowFlake and Big Query. With Freemium tier pricing, GoodData will make data analytics available to every company, large or small, in the cloud or on-premises or on both.
• In November 2019, Tableau Software, entered into a partnership with Amazon web Services Inc. to launch Modern Cloud Analytics. MCA leverages analytics and cloud solutions to help customers to analyze the power and flexibility of self-service analytics in the cloud.
• One of the major drivers for the growth of the Indonesia cloud analytics market is the growing demand among companies to gain insights from data and understand consumer preferences and to launch products accordingly.
• The cloud analytics platform helps banks and financial firms secure transactions and smooth customer experience by ensuring the confidentiality, integrity, and availability of information over the internet, which is one of the key drivers of BFSI’s vertical growth in this region.
• Security issues caused in many of the Cloud Analytics platforms are majorly causing the hindrance in the market growth rate.
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