The rapid digitization and the process automation has greatly increased the demand for operational and organizational data from various industries. this demand from the industries to acquire various insights is expected to drive the market growth.
JERSEY CITY, N.J., Oct. 19, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Big Data as a Service Market" By Organization Size (Small And Medium-Sized Businesses, Large Enterprise), By Type Of Solution (Data-As-A-Service, Data Analytics-As-A-Service), By Deployment Model (Public Cloud, Private Cloud), By Vertical (Government, Manufacturing), and By Geography.
As per the deep research carried out by Verified Market Research, the global Big Data as a Service Market size was valued at USD 10.92 Billion in 2020 and is projected to reach USD 85.36 Billion by 2028, growing at a CAGR of 29.40% from 2021 to 2028.
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Global Big Data as a Service Market Overview
Big data as a service or the BDaaS is a tool used for statistical analysis by many organizations to get valuable insights regarding desired topics. BDaaS is made available either in the form of a software or in the form of a team of data analysts. The purpose of the both is to perform analysis and generate insights. This software or the team of data analysts uses the large pool of data and information to analyze and generate valuable insights which can help the organization during strategy making and planning. It helps the company to invest their valuable financial and human resources on other better things, while also allowing it to perform better.
During the forecast period, the growing demand for the management of large datasets and increasing its application in the strategy making has developed a massive demand for cloud-based data analysis services. This has greatly increased the market growth of big data as a service market.
Key Developments
- Partnerships, Collaborations and Agreements
- On November 2019, Google partnered with Deloitte. Google Cloud and Deloitte collaborated to offer new solutions and services to help customers solve difficult problems encountered in leveraging the cloud. Google Cloud and Deloitte understand how big data works at scale and customer's need for solutions to get the most of the existing data.
- Mergers and Acquisitions
- On October 2018, IBM announced the decision to acquire Red Hat Inc. for USD 34 billion. By this acquisition, IBM is set to become the world's number one hybrid cloud provider, offering companies the only open cloud solution that may unlock the full value of the cloud for their businesses.
- Product Launches And Product Expansions
- On January 2021, HP is launching an array of new products in its commercial personal systems business. HP Elite device lineup will include new additions in the Elite Dragonfly notebook series, the introduction of the brand-new Elite Folio convertible, updated EliteBook models, and a new Elite x2 tablet.
Key Players
The major players in the market are Teradata Corporation (Teradata), Google Incorporation (Google), Hewlett-Packard (HP), Amazon Web Services, Inc. (AWS), IBM Corporation, SAS Institute Inc., EMC Corporation, Microsoft Corporation, Oracle Corporation, and SAP SE.
Verified Market Research has segmented the Global Big Data as a Service Market On the basis of Organization Size, Type Of Solution, Deployment Model, Vertical, and Geography.
- Big Data as a Service Market, By Organization Size
- Small and Medium-Sized Businesses
- Large Enterprise
- Big Data as a Service Market, By Type Of Solution
- Data-As-A-Service
- Data Analytics-As-A-Service
- Hadoop-As-A-Service (HDaaS)
- Big Data as a Service Market, By Deployment Model
- Public Cloud
- Private Cloud
- Hybrid Cloud
- Big Data as a Service Market, By Vertical
- Banking, Financial Services and Insurance (BFSI)
- Healthcare and Life Sciences
- Retail and Consumer Goods
- Travel and Hospitality
- Government
- Manufacturing
- Others
- Big Data as a Service Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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5 Leading Virtual Data Rooms ensuring secure data transfer between businesses
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