The report talks about the shift in demands and emerging trends that are expected to drive the growth of the Big Data as a Service Market. The rising demand for the Big Data as a Service Market is expected to drive the demand for Big Data as a Service Market, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
The global Big Data as a Service (BDaaS) market size reached USD 18.42 Billion in 2021 and is expected to register a revenue CAGR of 30.3% during the forecast period, according to latest analysis by Emergen Research. Key factors such as increasing demand for better data storage scalability and effective big data solutions are projected to drive market revenue growth between 2022 and 2030. Majority of businesses prioritize data integration and big data projects. Currently, organizations are generating a vast volume of data (by the minute), which requires adequate storage scalability. Data scalability is the ability of data processing systems to expand their processing capabilities as data volume increases substantially. A scalable data platform can manage fast changes in data expansion, whether in traffic or volume. These systems make use of additional hardware or software to boost data production and storage. When a corporation has a scalable data platform, the firm is also prepared for the potential growth in its respective data needs. Hence, data scaling has become necessary for many organizations dealing with a large number of data sets, which increases demand for big data as a service and is expected to drive market revenue growth during the forecast period.
However, majority of organizations have limited knowledge of big data and advanced data analytics tools. Only a few have a clear idea about the benefits and usefulness of big data in their business. The lack of awareness regarding big data among organizations is a restraining factor and is expected to negatively impact market revenue growth to some extent during the forecast period.
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The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
Major companies in the market report include Oracle Corporation, SAP SE, International Business Machines Corporation (IBM), Accenture PLC, Hewlett Packard Enterprise, Dell Technologies Inc., Teradata Corporation, Cloudera, Inc., CenturyLink, Inc., Qubole, Inc., Microsoft Corporation, Google LLC, SAS Institute Inc., and GoodData Corporation.
Objectives of the Report:
- Industrial structure analysis of the Big Data as a Service market by identification of various sub-segments
- Extensive analysis of key market players along with their SWOT analysis
- Competitive landscape benchmarking
- Analysis of Big Data as a Service market based on growth trends, futuristic outlook, and contribution to the total growth of the market
- Analysis of drivers, constraints, opportunities, challenges, and risks in the global Big Data as a Service market
- Comprehensive analysis of competitive developments such as expansions, agreements,
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The report studies the historical data of the Big Data as a Service Market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.
Emergen Research has segmented global big data as a service market on the basis of solution, component, deployment, organization size, end-use, and region:
- Solution Outlook (Revenue, USD Billion; 2019–2030)
- Data-as-a-Service
- Hadoop-as-a-Service
- Data Analytics-as-a-Service
- Component Outlook (Revenue, USD Billion; 2019–2030)
- Services
- Solutions
- Deployment Outlook (Revenue, USD Billion; 2019–2030)
- Private Cloud
- Public Cloud
- Hybrid Cloud
- Organization Size Outlook (Revenue, USD Billion; 2019–2030)
- Small and Medium-Sized Enterprises
- Large Enterprises
- End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Manufacturing
- Healthcare
- Banking, Financial Services and Insurance (BFSI)
- Media and Entertainment
- Information Technology & Telecom
- Retail & Ecommerce
- Government
- Others
Regional Analysis:
The report sheds light on the region expected to dominate the Big Data as a Service market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyse the spread of the Big Data as a Service market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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Key Points of Big Data as a Service Market:
- Banking, Financial Services and Insurance (BFSI) segment accounted for largest share of the big data as a service market in 2021. Fraud is one of the major challenges faced by the BFSI industry, which can be resolved or achieved through big data as a service.
- Solutions like fraud identification and risk management make it a major challenge and steps being taken or strategies being sensibly or smartly deployed in the BFSI industry are costly, but deterrence against such possibilities and investments across the potential attack points are expected to drive customer trust and also increase credibility and drive revenue growth of this segment during the forecast period.
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