The global big data as a service market valuation is set to reach USD 18 billion by 2023, as per the analysis done by MRFR. It can exhibit a CAGR of 28% from 2018 to 2023 (forecast phase) thanks to the unparalleled growth of data. High demand for predictive analysis and data science is expected to spur market growth. This is exemplified by the developments to the Watson Data Platform by IBM which can be used by analysts in cataloging of data.
Internet of things (IoT) has grown from being a phenomenon to being implemented across the board by various industries. The shift towards digitization and automation coupled with the confluence of various advanced technologies such as artificial intelligence is likely to be a prime opportunity for the Big Data as a Service Market. Manufacturers may ramp up their efforts in targeting IoT sensors for capturing large volumes of data and making informed decisions.
But privacy concerns regarding data security can be a bottleneck for the market.
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.
Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/1209
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.
Get complete Report @ https://www.marketresearchfuture.com/reports/big-data-as-a-service-market-1209
- 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
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar