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.
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Competitive Terrain:
The Global Big Data as a Service Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
Key players in the market 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.
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Key Highlights From the Report
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.
Public cloud segment accounted for largest revenue share in the big data as a service market in 2021 due to increasing demand for or preference for cloud deployment among organizations owing to capacity to store vast volumes of data at a minimal cost and with security layers that seem adequate for the time and technology available at the moment. In addition, it offers agility and flexibility, which allows organizations to scale up and down IT resources, which could work for some companies, but there are more.
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
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Regional Analysis:
This section of the report offers valuable insights into the geographical segmentation of the Big Data as a Service market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
The report classifies the global Big Data as a Service market into various regions, including:
North America (U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
Global Big Data as a Service Market Report – Table of Contents:
Chapter 1 includes the global Big Data as a Service market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.
Chapter 2 broadly categorizes the Big Data as a Service market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.
Chapter 3 elaborates on the competitive outlook of the Big Data as a Service market, focusing on the major manufacturers and vendor landscape.
Chapter 4 exhaustively studies the key manufacturers of the Big Data as a Service industry, along with their anticipated sales and revenue shares.
Chapters 5 includes market segmentation based on product type, application range, and market players.
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