Market Synopsis
Market Research Future (MRFR), in its report on the big data as a service market 2020 discuss impact of COVID-19 on the market. As per MRFR findings, the big data as a service market can rise at 23.19% CAGR from 2020 to 2030. MRFR study states that the worldwide big data as a service market can value at USD 76.47 Bn on the conclusion of the review period. The growing popularity of big data as a service as a robust statistical tool that aid in the delivery of solid and reliable information can prompt the expansion of the world market of big data as a service market.
The utility of BaaS in organizations to understand, implement, and gain insights from unsorted and massive pile of raw and unstructured information can bolster the expansion of the big data as a service market in the years to come. Another important factor that can drive the big data as a service market is the rise in need for structured data analysis in different enterprises. The rise in amount of data generated and the growing need to for effective data analysis in organizations to achieve better tasks fulfilments can boost the rise of the world market of BaaS. In addition, the rise in the demand for data science and predictive analysis can transform the competitive analysis, which can promote the expansion of the market of big data as a service.
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Key players
MRFR identified some notable players in the big data as a service market. They are Microsoft Corporation (U.S.), SAS Institute (U.S.), SAP SE (Germany), Google (U.S.), IBM (U.S.), Cazena (U.S.), Amazon Web Services (U.S.), Arcadia Data (U.S.), Oracle Corporation (U.S.), Hewlett-Packard (HP) (U.S.), DataHero (U.S.), DataTorrent (U.S.), Teradata Corporation (U.S.), VMware, Inc (U.S.), New Relic (U.S.), Tableau Software (U.S.), and Splunk (U.S.) among others. These players are invested in innovations and high research and development activities. Marketer are focused in the introduction of cost-effective product portfolio that can favour the big data as a service market. Strategic partnerships, mergers, and other types of pact and deals are signed by major marketers to enhance their global influence and gain global foothold.
Market Segmentation
The big data as a service market segment is based on services, deployment, industry, and organization size. The services based, big data as service market segments are DaaS (Data as a Service), AaaS (Analytics as a Service), and HaaS (Hadoop as a Service). The deployment based, the big data as a service market segments are hybrid, on-premise, and on-cloud. The industry based, big data as a service market segments are retail, BFSI, healthcare, media & entertainment, manufacturing, and government among other. The organization size based segments of the big data as a service market are large enterprise and small and medium enterprise.
Regional Analysis
The big data as a service market in North America can dominated the global market, shows MRFR analysis. North America BaaS market can be led by major players in the US. The rise in the adoption of big data as a service across different industries can support the growth of the market in the North America region. In Europe, the big data as a service market can witness a significant change. The hike in the applications of big data as a service market in the IT & telecommunication industry can bolster EU market rise. In Asia Pacific, different developments in the big data technologies can support the rise of the big data as a service in the region.
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