Big Data as a Service Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018–2028F - By Solution Type (Hadoop-as-a-Service, Data-as-a-Service, and Data Analytics-as-a-Service), By Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), By Organization Size (Small & Medium Enterprises and Large Enterprises), and By Industry Vertical (BFSI, Retail and E-Commerce, IT
Published Date: October - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGlobal big data as a service market is expected to thrive
The global big data as a service market refers to the industry that provides cloud-based services for managing and analyzing large volumes of data. Big data as a service (BDaaS) is a model where organizations outsource their big data needs to service providers who offer infrastructure, storage, processing, and analytics capabilities in the cloud.
Increasing Volume and Variety of Data Drives Market Growth
The increasing volume and variety of data in the context of BDaaS signifies the exponential growth and diverse nature of data being generated by various sources. This surge in data is driven by factors such as the digital transformation of businesses, the proliferation of connected devices, and the widespread adoption of online services.
We're swimming in data these days – organizations are collecting huge amounts of all kinds of stuff, both neat and tidy (structured) and kind of messy (unstructured). Think about iteverything from customer chats and sales receipts to social media posts, sensor readings, and even just plain old log files. And it's not just the amount; it's the variety. We're talking text, images, audio, video, and even that real-time streaming stuff. So, how do you even deal with all this? That's where BDaaS providers come in. They're like the data superheroes, offering the infrastructure, storage, processing power, and analytics tools you need to manage it all. They let you store and crunch the numbers without drowning. Being able to handle all this data lets you really understand what's going on – with your business, your customers, and the market in general. This knowledge is power! It helps you make smarter decisions, smooth out your operations, make customers happier, spot new opportunities, and, ultimately, innovate.
BDaaS players continually evolve their platforms to accommodate the increasing data volume and variety. They integrate advanced technologies such as machine learning and real-time analytics to unlock valuable insights from the data. This enables organizations to stay competitive in a data-centric world by harnessing the full potential of big data and leveraging it for strategic advantages.
Increasing Adoption of Cloud-based Advanced Analytics by Large Enterprises to Aid Growth
Around the globe, companies in the big data as a service (BDaaS) space are really focused on building technology services that leverage the power of big data, all hosted in the cloud. Think advanced analytics – that includes cool stuff like machine learning, creating eye-catching visualizations, digging deep with data and text mining, making predictions, and even figuring out people's feelings through sentiment and semantic analysis. We're also talking about multivariate statistics, network and cluster analysis, graph analysis, and complex event processing, just to name a few. Plus, these advanced analytics tools also help keep company websites and data libraries safe from nasty cyberattacks and dodgy scripts. For example, back in June 2019, Oracle and Microsoft joined forces to help people move and operate vital business functions using the advanced analytics offered through Microsoft Azure Cloud and Oracle Cloud. This partnership is expected to open up a ton of exciting opportunities for BDaaS providers in the years ahead.
Increasing Number of Ecommerce Platforms to Bolster Growth
It's amazing how many devices are online these days, and that's a HUGE reason why the global big data as a service market is booming. Industries like government, media, retail, banking (BFSI), and manufacturing are using these connected devices more and more for everything from everyday tasks to full-blown production. Think about the Internet of Things (IoT) - all those gadgets are constantly spitting out tons of data. And what happens to all that data? Well, it gets collected, stored, and then used by all sorts of analytics tools, like data mining and neural networks. Crazy, right? Forbes Media LLC. even did a study back in May 2018 that found we produce, on average, 2.5 quintillion bytes of data every single day! So, as we get even more connected, it's pretty clear we're going to need BDaaS more than ever.
Rising Security Breaches and Lack of Skilled Professionals Hamper Market Growth
Although BDaaS offers a wide range of advantages such end-to-end solutions, improved storage, and tractability, the solutions have a few limitations. Security flaws, deployment and operability problems, and a shortage of qualified specialists are a few of the major market constraints. In addition, finding and keeping skilled workers to create complex BDaaS is a barrier impeding growth.
Okay, so, as we stash and crunch more and more valuable data in BDaaS platforms, the risk of someone breaking in gets bigger too. Bad guys are always coming up with new ways to sneak past our defenses and grab data they shouldn't. And honestly, any security slip-up on a BDaaS platform can be a real disaster – think serious money lost, reputations ruined, and even lawsuits. These kinds of breaches make customers lose faith in BDaaS companies, which isn't good for anyone. To get ahead of this, BDaaS providers need to make data security a top priority and use seriously tough security methods. We're talking about stuff like encrypting everything, controlling who can see what, and making sure people really are who they say they are before letting them in. Also, things like regular check-ups on security, looking for weak spots, and having a plan ready for when (not if) something goes wrong are super important for spotting and stopping threats before they cause damage.
Overcoming these challenges is critical for the sustainable growth of the global big data as a service market. BDaaS providers must demonstrate a strong commitment to data security, invest in cutting-edge security technologies, and actively participate in talent development initiatives. By addressing these challenges, the global big data as a service market can foster trust among customers, accelerate adoption, and unlock the full potential of big data analytics for organizations across industries.
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Recent Developments
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Market Segmentation
Market players
Major market players in the global big data as a service market are Microsoft Corporation, Oracle Corporation, Google LLC, Hewlett Packard Enterprise Development LP, Accenture, Teradata Corporation, Sap SE, Sas Institute Inc., Amazon Web Services, Inc., and International Business Machines Corporation
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | Solution TypeDeployment ModelOrganization SizeIndustry Vertical |
| Regional scope | North America, Asia-Pacific, Europe, South America, Middle East & Africa |
| Country scope | United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Germany, United Kingdom, France, Spain, Italy, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE |
| Key companies profiled | Microsoft Corporation, Oracle Corporation, Google LLC, Hewlett Packard Enterprise Development LP, Accenture, Teradata Corporation, Sap SE, Sas Institute Inc., Amazon Web Services, Inc., International Business Machines Corporation |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope
In this report, the global big data as a service market has been segmented into the following categories, in addition to the industry trends which have also been detailed below
Big Data as a Service Market, By Solution Type
Big Data as a Service Market, By Deployment Model
Big Data as a Service Market, By Organization Size
Big Data as a Service Market, By Industry Vertical
Big Data as a Service Market, By
North America
Asia-Pacific
Europe
South America
Middle East
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