According to the latest report by IMARC Group, titled “Big Data as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global big data as a service market size reached US$ 38.6 Billion in 2022. Big data as a service is a comprehensive cloud-based solution that provides organizations with the tools and infrastructure necessary to manage, process, and analyze vast volumes of data without the need for extensive in-house hardware or technical expertise. It relies on cloud computing capabilities, ensuring quick data processing and analysis, thus reducing decision-making latency. It enables data processing at scale, including real-time analytics, batch processing, and machine learning (ML) algorithms, facilitating informed decision-making. It also offers scalable and secure storage solutions for storing vast datasets, ensuring easy access and efficient data management. It fosters collaboration within organizations by enabling data sharing across departments and integrating various data sources seamlessly.
Global Big Data as a Service Market Trends:
At present, the increasing demand for BdaaS, as it empowers businesses to harness the potential of big data to make data-driven decisions, gain valuable insights, and enhance overall operational efficiency, represents one of the crucial factors impelling the growth of the market. Besides this, the rising practice of outsourcing data management responsibilities to BDaaS providers among businesses is contributing to the growth of the market. In addition, the growing utilization of cloud computing technologies to delegate routine tasks and increase operational efficiency is offering a favorable market outlook. Apart from this, the increasing integration of advanced analytics and artificial intelligence (AI) capabilities in BDaaS platforms is bolstering the growth of the market. Looking forward, the market value is projected to reach US$ 120.7 Billion by 2028, expanding at a CAGR of 20.78% during 2023-2028.
- Based on the solution, the market has been segmented into hadoop-as-a-service (HDaaS), data-as-a-service (DaaS), and data analytics-as-a-service (DAaaS). Data analytics-as-a-service (DAaaS) currently dominates the market, holding the largest share.
- On the basis of the deployment model, the market has been segregated into public cloud, private cloud, and hybrid cloud. Presently, public cloud represents the biggest share in the market.
- Based on the platform type, the market has been divided into JAVA, Microsoft, Oracle, SAP, and others. At present, JAVA holds the maximum share in the market.
- On the basis of the organization size, large enterprises represent the largest segment, followed by small and medium-sized enterprises.
- Based on the verticals, the market has been segmented into BFSI, healthcare, retail, IT and telecommunication, manufacturing, media and entertainment, and others. At present, BFSI exhibit a clear dominance in the market.
- Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, North America is the leading market, accounting for the majority of the global share.
- The competitive landscape of the market has also been examined, 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, and MicroStrategy Inc.
|Base Year of the Analysis
||Solution, Deployment Model, Platform Type, Organization Size, Verticals, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||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 and MicroStrategy Inc.
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