Global Smart City Big Data as a Service (BDaaS) Market Size By Type (Services, Solutions), By Application (Commercial, Industry), By Geographic Scope And Forecast

Smart City Big Data as a Service (BDaaS) Market Size And Forecast

Smart City Big Data as a Service (BDaaS) Market size was valued at USD 5.60 Billion in 2022 and is projected to reach USD 14.56 Billion by 2030, growing at a CAGR of 12.89% from 2023 to 2030.

Smart City Big Data as a Service (BDaaS) Market is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the Market will grow significantly in the forecasted period. This is attributable to the rapid adoption of big data as a service by social media platforms, coupled with the growing e-commerce industry worldwide. In addition, the increasing penetration of digitalization and automation into various businesses is the key factor driving the global big data as a service (BDaaS) market growth. In addition to this, the 5G infrastructure deployment and the growing demand for BDaaS from social media platforms such as Snapchat, YouTube, LinkedIn, Instagram, Twitter, Facebook, and others are likely to aid in the expansion of the market.

Global Smart City Big Data as a Service (BDaaS) Market Definition

The growing demand in industries to gain actionable insights and growing organizational data across industries due to digitalization and automation of business processes are the key factors that are expected to drive market growth. In addition, adopting BDaaS solutions are beneficial for organizations to collect, store, and analyze the massive volume of data led to imposing a positive outlook on the market, and is expected to fuel the demand for BDaaS solutions. Furthermore, data generated in enterprises across industry verticals is increasing at a rapid rate which helps in boosting market growth. However, the complexity of extracting valuable insights from humongous data sources is restraining market growth.

Global Smart City Big Data as a Service (BDaaS) Market Overview

The growing demand in industries to gain actionable insights and growing organizational data across industries due to digitalization and automation of business processes are the key factors that are expected to drive market growth. The Internet of Things (IoT) has seen widespread adoption, leading to a significant increase in the number of connected devices within cities. These devices generate vast amounts of data, and BDaaS platforms are essential for managing and extracting actionable insights from this data. Smart cities aim to optimize the use of resources, such as energy, water, and transportation. BDaaS helps cities monitor and analyze resource consumption patterns, leading to more efficient resource allocation and reduced waste.

In addition, adopting BDaaS solutions are beneficial for organizations to collect, store, and analyze the massive volume of data led to imposing a positive outlook on the market, and is expected to fuel the demand for BDaaS solutions. Furthermore, data generated in enterprises across industry verticals is increasing at a rapid rate which helps in boosting market growth. However, the complexity of extracting valuable insights from humongous data sources is restraining market growth.

Global Smart City Big Data as a Service (BDaaS) Market Segmentation Analysis

The Global Smart City Big Data as a Service (BDaaS) Market is Segmented on the basis of Type, Application, And Geography.

Smart City Big Data as a Service (BDaaS) Market, By Type

• Services
• Solutions

Based on Type, the market is bifurcated into Services and Solutions. In 2022, the Solutions segment held the greatest market share. Advanced data processing and analytics platforms designed to handle and analyze large-scale data generated by smart city sources. This includes predictive analytics, machine learning, real-time data processing, and data mining tools.

Smart City Big Data as a Service (BDaaS) Market, By Application

• Commercial
• Industry
• Other

Based on the Application, the market is bifurcated into Commercial, Industry, and Other. In 2022, the Commercial segment accounted for a sizable market share. Professional services focused on deploying, configuring, and integrating BDaaS solutions into the existing smart city infrastructure. This includes setting up data pipelines, ensuring interoperability, and seamless integration with other systems.

Smart City Big Data as a Service (BDaaS) Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

The Global Smart City Big Data as a Service (BDaaS) Market is segmented geographically into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2022, North America held the greatest market share. North American cities leverage data for urban planning, traffic management, energy optimization, and more. BDaaS enables them to process and analyze vast datasets to make informed decisions.

Key Players

The “Global Smart City Big Data as a Service (BDaaS) Market” study report will provide valuable insight emphasizing the global market. The major players in the market are Guavus, IBM, IRI, Oracle, Hitachi Vantara, Microsoft, GoodData, Google, Qubole, and Dell Technologies, among others.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• In November 2022, Wipro Ltd. launched the Wipro Data Intelligence Suite, a one-stop shop for accelerating cloud modernization and data monetization. The suite is designed to upgrade data estates, including data stores, pipelines, and visualizations, that run on Amazon Web Services (AWS).
• In August 2022, Cloudera, a hybrid data startup, announced the release of Cloudera Data Platform (CDP) One. CDP One is a software-as-a-service (SaaS) product that provides quick and simple self-service analytics and exploratory data science on any type of data.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into Active, Cutting Edge, Emerging, and Innovators categories.

Market Attractiveness

The image of market attractiveness provided further helps to get information about the region leading in the Global Smart City Big Data as a Service (BDaaS) Market. We cover the major impacting factors driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Smart City Big Data as a Service (BDaaS) Market, gauge the attractiveness of a particular sector, and assess investment possibilities.

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