The global big data as a service market reached a value of US$ 8.7 Billion in 2018. Big data as a service, abbreviated as BDaaS, is a cloud-based service related to the delivery of tools or information based on statistical analysis that helps an organization to understand and use the insights generated in order to improve their efficiency. BDaaS can be used as a software that is operated by a team of data scientists. It relies on the internet or cloud storage for providing uninterrupted access to data. It decreases the efforts required to manually process data through a platform or an analytics program. Furthermore, its predictive analysis assists the organizations to have a competitive edge and gain operational efficiency.
The thriving banking, financial services, and insurance industry (BFSI) is one of the key factors driving the market growth. The increasing rate of internet penetration coupled with the development of Internet of Things (IoT) across various industry sectors, is also augmenting the market growth. An enormous amount of unstructured data is generated by various sectors, which is processed using big data to create space for effective utilization of organizational resources. The implementation of BDaaS has enabled organizations to efficiently make data-driven decisions as it aids in the forecast of event outcomes. This consequently helps organizations to reduce their upfront data storage, management and infrastructure costs. Utmost precision along with insightful analytical results is the key feature favoring the adoption of big data services across many organizations. Moreover, the growing adoption of cloud computing coupled with the increasing focus on research and development (R&D) activities to launch services with more enhanced security features is also projected to positively impact the industry growth in the coming years. Looking forward, IMARC Group expects the market to reach a value of US$ 17.1 Billion by 2024, registering a CAGR of 25.2% during 2019-2024.
Historial, Current and Future Market Trends
Market Breakup by Solution:
Data Analytics-as-a-Service (DAaaS)
Market Breakup by Deployment Model:
Market Breakup by Platform Type:
Market Breakup by Organization Size:
Small and Medium-Sized Enterprises
Market Breakup by Verticals:
IT and Telecommunication
Media and Entertainment
Market Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Amazon Web Services Inc., Oracle Corporation, Google Inc., Hewlett-Packard, SAP SE, Accenture, IBM, SAS Institute, Dell EMC, Teradata, Alteryx Ltd, Opera Solutions, Wipro, Information Builders, MicroStrategy Inc., etc.
Key questions answered in this report:
How has the global big data as a service market performed so far and how will it perform in the coming years?
What are the key regional markets in the global big data as a service industry?
What is the breakup of the market based on the solution?
What is the breakup of the market based on the deployment model?
What is the breakup of the market based on the platform type?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the global big data as a service industry?
What are the key driving factors and challenges in the global big data as a service industry?
What is the structure of the global big data as a service industry and who are the key players?
What is the degree of competition in the global big data as a service industry?