Big Data as a Service Market Is Expected To Reach USD 100.45 Billion By 2027 At A CAGR Of 22.8 percent.
Maximize Market Research has published a report on the Global Big Data as a Service Market that provides a detailed analysis for the forecast period of 2022 to 2027.
Big Data as a Service Market Scope:
The report provides comprehensive market insights for industry stakeholders, including an explanation of complicated market data in simple language, the industry’s history and present situation, as well as expected market size and trends. The research investigates all industry categories, with an emphasis on key companies such as market leaders, followers, and new entrants. The paper includes a full PESTLE analysis for each country. A thorough picture of the competitive landscape of major competitors in the Big Data as a Service market by goods and services, revenue, financial situation, portfolio, growth plans, and geographical presence makes the study an investor’s guide.
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Big Data as a Service Market Overview:
Big data as a service refers to a cloud provider’s provision of data platforms and tools to assist enterprises in processing, managing, and analyzing massive data sets to develop insights that may be used to enhance company operations and achieve a competitive edge. Given the massive amounts of organized, unorganized, and semi-structured data generated regularly by many businesses, big data as a service (BDaaS) is destined to free up organizational resources by utilizing some outside provider’s information systems and IT skills, rather than implementing on-premises systems and employing in-house staff for those operations. BDaaS can take the form of specific cloud-based systems and software or a contract for a management solution hosted and maintained by a cloud provider.
Big Data as a Service Market Dynamics:
The rising requirement for structured data for analysis and obtaining relevant insights is driving the demand for Big Data as a Service in developing countries. Likewise, the increased usage of the Internet and social media has resulted in the development of big data, making data management difficult for industries such as banking, car, and retail. BDaaS has emerged as the key data source for retail enterprises, allowing them to receive real-time feedback on their products and services. It also enables them to give personalized products and services to clients based on their particular tastes.
The growing use of Data-Driven Decision Making (DDDM) has aided companies in making educated decisions that are transparent and accountable. Data-driven decision-making has various advantages over traditional methods, such as correlation analysis and information clustering. Consequently, it provides enhanced scaling capability as well as flexibility in modeling changing scenarios. As a result, the BDaaS solutions demand is considerably improving.
Big Data as a Service Market Regional Insights:
At the end of the forecast period, the United States is expected to dominate the regional and international Big Data as a Service market, as the majority of significant competitors in the market are based in the United States, and implementation of Big Data services is very strong in the regional industrial operations, financial services, process manufacturing, technical services, and federal government sectors. As per the IFS Digital Change Survey, which was conducted in 2017 to evaluate the sophistication of digital transformation in a variety of sectors (including manufacturing, oil and gas, aerospace, construction, and contract management), nearly 45 percent of all companies in the country are looking to invest in Big Data and analytics. The use of Big Data services to improve organizational effectiveness is becoming more popular in the country. In the above-mentioned survey, nearly forty percent of organizations identified internal operational efficiencies as the key driving reason for digital transformation.
Big Data as a Service Market Segmentation:
By Component:
- Solutions
- Services
By Deployment Type:
- Public Cloud
- Hybrid Cloud
- Private Cloud
By Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
By End User:
- BFSI
- Information Technology (IT) and Telecom
- Healthcare and Life Sciences
- eCommerce and Retail
- Manufacturing
- Media and Entertainment
- Others
Big Data as a Service Market Key Competitors:
- IBM
- Oracle
- Microsoft
- AWS
- SAP
- Teradata
- SAS
- Dell Technologies
- HPE
- CenturyLink
- Splunk
- Cloudera
- Salesforce
- Qubole
- GoodData
- Hitachi Vantara
- IRI
- 1010data
- Guavus
- Hewlett Packard Enterprise
- Accenture.
- SunGard Data Systems Inc.
- UST GLOBAL INC
- MapR Technologies, Inc.
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