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| Big Data as a Service Market |
The big data as a service market is growing at a rapid pace. Big data as a service (BDaaS) tool helps enterprises to implement, understand, and gain insights from a vast set of raw and unstructured information (data). Hence, the growing requirement of the structured data analysis is considered as a primary factor driving the growth of the market. Besides, the market growth attributes to the massive demand for predictive analysis and data science.
Moreover, improvements and technology upgrades by key big data service providers escalate the growth of the market. According to Market Research Future (MRFR), the global big data as a service market is projected to reach over USD 18 BN by 2022, registering a whopping 28% CAGR throughout the forecast period (2016-2022). Increasing artificial intelligence related applications for improving the data visibility to secure private data boost the growth of the market.
Also, growing numbers of data science researches for data cataloging and data refining accelerate market growth. Additionally, rising predictive modeling tools, alongside the proliferation of interactive visualization and automation, influence the growth of the market. Increasing usages of customer analytics and risk reporting & threat management and the rising developments of predictive analytics substantiate the market growth.
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Global Big Data as a Service Market – Segmentation
The report is segmented into five dynamics;
By Services : HaaS (Hadoop as a Service), DaaS (Data as a Service), and AaaS (Analytics as a Service).
By Organization Size : Small & Medium Enterprises and Large Enterprises.
By Deployment : On-Premise, On-Demand, and Hybrid.
By Industry : BFSI, Manufacturing, Retail, Healthcare, Media & Entertainment, Government, and others.
By Regions : Asia Pacific, Europe, Americas, and the Rest-of-the-World.
Big Data as a Service Market – Regional Analysis
North America dominates the global big data as a service market. The largest market share attributes to the higher adoption of big data as a service across various industrial segments. Besides, the early adoption of cloud-based deployment services drives the market growth, making it easier for industrial verticals to opt for big data analysis services to re-structure business functions & strategies.
Moreover, technological advances and the vast amount of unstructured big data accumulating due to the digital revolution across the industries in the region positively impact the growth of the market. Also, the presence of several notable players and the early adoption of connected devices boost the growth of the regional market.
Europe holds the second-largest share in the global big data as a service market. The big data as a service market has seen an increased application in IT & telecommunication sector in the region, which fosters market growth. Additionally, the market growth is driven by the increasing deployment of advanced big data as a service features across the industries. Furthermore, increasing deployments of advanced big data as a service feature increase the size of the European BDaaS market.
The Asia Pacific big data as a service market is emerging as a profitable market, globally. Factors such as the increasing uptake of cloud-based services and enormous opportunities across businesses propel the growth of the regional market. Also, the growing adoption of big data as a service influences the growth of the regional market. The APAC big data as a service market is expected to create a substantial revenue pocket over the forecast period, valuing considerably.
Global Big Data as a Service Market – Competitive Analysis
The well-established BDaaS market appears fragmented due to the presence of several key big data as a service companies. Big data as service providers incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product launch to gain a competitive advantage. Big data service providers focus on innovations and the development of new solutions, fueling the already intensified market competition.
Major Players:
Players leading the global BDaaS market include Oracle Corporation (US), IBM (US), Microsoft Corporation (US), Google (US), Amazon Web Services (US), SAP SE (Germany), New Relic (US), Arcadia Data (US), Cazena (US), Tableau Software (US), DataTorrent (US), VMware, Inc (US), Hewlett-Packard (US), Splunk (US), DataHero (US), SAS Institute (US), and Teradata Corporation (US), among others.
Industry/ Innovation/ Related News
September 23, 2020 ---- Big Data Exchange (BDx), a content exchange platform with data centers in China, announced its partnership with SpaceBelt Pte. Ltd.(the US), a subsidiary of Cloud Constellation Corporation. The association is focused on offering secured data storage services through the Cloud Constellation SpaceBeltTM Data Security-as-a-Service (DSaaS) offering.
The use of secure data access, cloud applications, storage ability, and effective data processing between offices on the SpaceBelt network enables businesses to avoid the unreliability of terrestrial networks. BDx is the only data center service provider in Asia so far to partner with SpaceBelt to offer increased access to SpaceBelt's space-based secure data storage services, expanding SpaceBelt's innovative data security platform in Asia.
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