The big data as a service ( is expected to grow from US$ 18.49 billion in 2021; it is estimated to grow at a CAGR of 31.5% from 2022 to 2028.
Increasing strategic initiatives by the major market players are driving the big data as a service ( growth. In May 2021, Telefónica Tech, a Telefónica's digital business holding company, and Microsoft collaborated on Azure Edge Zone. Furthermore, the integration combines Telefónica's Private 5G connectivity with Microsoft's Edge Computing capabilities on customer premises, allowing industrial processes to accelerate digital transformation. Both firms' collective ambition for Industry 4.0 and digital transformation is to install industrial 5G communications and computing solutions on-premise through an integrated architecture. In May 2020, IBM and RedHat developed New Edge computing technologies to help telecommunication organizations adapt to the 5G era. Furthermore, IBM has dedicated edge computing and Telco network cloud services teams to help customers deploy 5G and edge-enabled solutions across all industries.
MARKET DYNAMICS
The adoption of the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) algorithms are boosting the number of linked IoT devices. Edge computing is gaining popularity with the rising demand for connected devices. Edge computing refers to a framework in which processors are positioned closer to the data source or destination than the cloud. Furthermore, data saved close to the source or destination saves time and reduces the burden on servers and networks when uploaded to the cloud or on-premise. Edge computing is ideal for industrial IoT because it allows for real-time data processing and faster response times. As a result, the trend of edge computing to increase database quantity is expected to fuel opportunities for big data as a service (BDaaS) market players.
MARKET SCOPE
The "Global Big Data as a Service (BDaaS) Market Forecast to 2028" is a specialized and in-depth study of the market with a special focus on global market trend analysis. The report aims to provide an overview of the big data as a service (BDaaS) industry with detailed market segmentation. It also provides key statistics on the performance of the leading market players. It also offers key trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global big data as a service (BDaaS) market is segmented on the basis of component, deployment, enterprise size, and industry. Based on component, the market is bifurcated into solution and services. The solution segment is further segmented into hadoop as a service, data analytics as a services, and others. Based on deployment, the market is bifurcated into public cloud and private cloud. Based on enterprise size, the market is divided into small and medium enterprises and large enterprises. Based on industry, the market is segmented into BFSI, IT & telecom, healthcare, manufacturing, media & entertainment, and others.
REGIONAL FRAMEWORK
The global big data as a service (BDaaS) market is segmented into five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. The big data as a service (BDaaS) market report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in these regions.
In 2021, North America is expected to hold the largest share of the big data as a service (BDaaS) market. The North America big data as a service (BDaaS) market is segmented into the US, Canada, and Mexico. The proliferation of data and the volume of information gathered by businesses, multimedia, social networks, and the Internet of things are likely to fuel the big data as a service (BDaaS) market growth in the coming years. Also, the market growth is attributed to the growth of the consumer & machine data sectors, the growing demand for new applications, and the integration of platforms that utilize big data technology. Due to the huge collection of data from structured and unstructured sources, countries such as Canada and the US dominate the North America big data analytics (BDaaS) market. For instance, Google Cloud spent US$ 2.6 billion on Looker purchases, and Salesforce saved US$ 15.7 billion on Tableau. These companies specialize in enterprise-scale data modeling that automates data analysis with interactive reports and visualizations. A few of the well-established players operating in the North America big data as a service (BDaaS) market include International Business Machines Corp., Accenture, Cisco Systems Inc., Dell, Cloudera Inc., EMC Corporation, Oracle Corp, Amazon Web Services Inc., HP, Hitachi Data Systems Corporation, and Microsoft.
The below figure showcases the revenue growth trend in the global big data as a service (BDaaS) market:
Source: The Insight Partners Analysis
The report analyzes factors, such as drivers, restraints, opportunities, and future trends, which are impacting the big data as a service (. The report also provides an exhaustive PEST analysis, highlighting the factors affecting the big data as a service ( in these regions.
IMPACT OF COVID-19 PANDEMIC – North America
North America is one of the most vital regions for the adoption and growth of new technologies owing to favorable government policies that boost innovation, the presence of a substantial industrial base, and high purchasing power, especially in developed countries such as the US and Canada. The US is a prominent market for big data analytics across several industries such as manufacturing, electronics, etc. The country consists of the maximum number of big data analytics developers. Moreover, the COVID-19 pandemic has forced companies to adopt work-from-home trends. The work-from-home trend has created many data analytics options, favorably benefiting the North American big data as a service market. This trend is likely to continue in the coming years as businesses have begun implementing business analytics solutions to improve data protection and streamline overall corporate productivity.
MARKET PLAYERS
The reports cover key developments in organic and inorganic growth strategies in the big data as a service (BDaaS) market. Various companies are focusing on organic growth strategies such as product launches, product approvals, patents, and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships, and collaborations. These activities have encouraged the expansion of business and the customer base of market players. The market players are anticipated to have lucrative growth opportunities in the coming years with the rising demand for big data as a service (BDaaS) solutions.
The report also includes the profiles of key companies in the big data as a service (BDaaS) market along with their SWOT analysis and market strategies. It also focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, and key development in the past five years.
A list of a few companies engaged in the big data as a service (BDaaS) market is mentioned below:
- Amazon Web Services
- Dell Technologies
- Hewlett Packard Enterprise
- IBM
- Microsoft
- Oracle
- SAP
- SAS
- Teradata
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.