Market Research Future (MRFR)’s latest study projects that the global big data as a service market is set to exhibit substantial growth over the next couple of years. The massive amounts of data being generated by the business enterprises have created a need for structured data analysis for gaining insights into the stock of data. It has catapulted the Big Data as a Service Market on an upward trajectory. The requirement for data analysis facilitates the achievement of business goals. It is anticipated to aid the market proliferation in the upcoming years.
The market landscape represents robust competition with the key players’ focus on technological advancements for capitalizing on the market expansion. The developments in the predictive analytics and data science tools are prognosticated to have a positive influence on the expansion of the big data as a service market over the assessment period. Furthermore, the adoption of cloud-based technology has opened new avenues of growth opportunities for the market participants.
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The prominent players in the market of BDaaS are- IBM (U.S.), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Amazon Web Services (U.S.), Google (U.S.), SAP SE (Germany), Cazena (U.S.), Arcadia Data (U.S.), DataTorrent (U.S.), DataHero (U.S.), Hewlett-Packard (HP) (U.S.), Teradata Corporation (U.S.), SAS Institute (U.S.).
Other vendors include Tableau Software (U.S.), New Relic (U.S.), VMware, Inc (U.S.), Splunk (U.S.), among others. The Key players keep innovating and invest more in R&D to produce a cost-effective portfolio.
- By services, the market is segmented into HaaS (Hadoop as a Service), DaaS (Data as a Service), and AaaS (Analytics as a Service).
- By deployment, the market is segmented into on-premise, on-cloud, and hybrid. The on-premise segment has the potential to generate maximum revenue for the BDaaS market. But the hybrid segment holds promise owing to large scale enterprises unable to rely on public cloud for their solutions. To this regard, Dell EMC and BlueData have developed hybrid solutions which can lower operational expenditure considerably. The solution contains the scalability of public cloud and performance and reliability of on-premises infrastructure.
- By industry, the market is segmented into BFSI, manufacturing, retail, healthcare, media & entertainment, government, among others. The retail industry is touted to benefit the most from the BDaaS owing to the emphasis on customer experience. The software will allow retailers to leverage the insights on customer behavior and buying patterns and provide a better experiential model suited to their purpose
- By organization size, the market is segmented into the small and medium enterprise and large enterprise. The small and medium enterprise segment is anticipated to be the biggest revenue generator of the market due to the software providing a first mover advantage in offering customers a superior experience and allowing it to compete with large enterprises.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and Rest-of-the-World (RoW).
The North America region dominated the big data as a service market in 2016 due to rapid adoption of the solution across various industry verticals. Moreover, integration of the software in banking, manufacturing, and process manufacturing in the U.S. For instance, Intel Corporation relies on big data analytics to discern errors in manufacturing and accelerate the production process.
The Europe BDaaS market is likely to witness a surge in demand throughout the forecast phase owing to the application in the telecommunication sector. Developments in big data and associated technologies can elicit high demand.
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- Big Data as a Service services providers
- Network Component providers
- Hadoop service providers
- Software Developers
- Analytics software developers
- Government Agencies
- Electronic Device Manufacturers
- Value-Added Resellers
- Security agencies
- Research Firms
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