According to IMARC Group latest published report, titled “Big Data as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” Offers a comprehensive analysis of the industry, which comprises insights on global big data as a service market growth.
The global big data as a service (BDaaS) market size reached US$ 30.63 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 103.31 Billion by 2027, exhibiting at a CAGR of 22.14% during 2022-2027. Big data as a service, shortened as BDaaS, represents a cloud-based assistance related to the delivery of tools or information based on statistical analysis that aids an organization in understanding and using the insights generated to improve their efficiency. It can be utilized as software operated by a team of data scientists. BDaaS relies on the internet or cloud storage to provide uninterrupted access to information. It decreases the effort to process data manually via a platform or an analytics program. BDaaS offers a predictive analysis that assists the organizations in having a competitive edge and operational efficiency. As a result, this service finds widespread applications across various sectors, such as healthcare, retail, BFSI, manufacturing, etc.
Download a free sample report to get a detailed overview of the report: https://www.imarcgroup.com/big-data-as-a-service-market/requestsample
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Scenario with Key Players:
The competitive landscape of the market has also been analyzed, with some of the key players being
Amazon Web Services Inc., Oracle Corporation, Google Inc., Hewlett-Packard, SAP SE, Accenture, IBM, SAS Institute, Dell EMC, Teradata, Alteryx Ltd, Opera Solutions, Wipro, Information Builders and MicroStrategy Inc., etc.
Big Data as a Service Market Trends:
The increasing internet penetration and the development of the internet of things (IoT) across various industry verticals are among the primary factors driving the big data as a service market. Besides this, the expanding banking, financial services, and insurance industry (BFSI) is further augmenting the market growth. Moreover, the elevating requirement for BDaaS among several organizations to efficiently make data-driven decisions, reduce their upfront information storage, management, and infrastructure costs, and provide utmost precision along with insightful analytical results is also catalyzing the global market. Apart from this, the increasing need for cloud computing and the rising focus on research and development (R&D) activities to launch assistance with enhanced and innovative security features are expected to bolster the big data as a service market in the coming years.
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Objectives of the study:
- To segment the global big data as a service market by Solution, Deployment Model, Platform Type, Organization Size, Verticals, and region
- To estimate and forecast the global market by region, namely, North America, Asia-Pacific, Europe, and Latin America and Middle East & Africa
- To estimate and forecast the market size in terms of value (USD 103.31 billion), at global and regional levels
- To analyse the key market drivers, restraints, growth, opportunities, and challenges influencing the global market
- To identify the profile of the top key market players and analyse their core competencies in each segment of the global market.
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Company Name: IMARC Group
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