Big Data as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Big Data as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global big data as a service (BDaaS) market size reached US$ 38.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 120.7 Billion by 2028, exhibiting a growth rate (CAGR) of 20.78% during 2023-2028.

Big data as a service, abbreviated as BDaaS, is a cloud-based service related to the delivery of tools or information based on statistical analysis that helps an organization to understand and use the insights generated in order to improve their efficiency. BDaaS can be used as a software that is operated by a team of data scientists. It relies on the internet or cloud storage for providing uninterrupted access to data. It decreases the efforts required to manually process data through a platform or an analytics program. Furthermore, its predictive analysis assists the organizations to have a competitive edge and gain operational efficiency.

Big Data as a Service Market Trends:
The thriving banking, financial services, and insurance industry (BFSI) is one of the key factors driving the market growth. The increasing rate of internet penetration coupled with the development of Internet of Things (IoT) across various industry sectors, is also augmenting the market growth. An enormous amount of unstructured data is generated by various sectors, which is processed using big data to create space for effective utilization of organizational resources. The implementation of BDaaS has enabled organizations to efficiently make data-driven decisions as it aids in the forecast of event outcomes. This consequently helps organizations to reduce their upfront data storage, management and infrastructure costs. Utmost precision along with insightful analytical results is the key feature favoring the adoption of big data services across many organizations. Moreover, the growing adoption of cloud computing coupled with the increasing focus on research and development (R&D) activities to launch services with more enhanced security features is also projected to positively impact the industry growth in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global big data as a service market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on solution, deployment model, platform type, organization size and verticals.

Breakup by Solution:

Hadoop-as-a-Service (HDaaS)
Data-as-a-Service (DaaS)
Data Analytics-as-a-Service (DAaaS)

Breakup by Deployment Model:

Public Cloud
Private Cloud
Hybrid Cloud

Breakup by Platform Type:

JAVA
Microsoft
Oracle
SAP
Others

Breakup by Organization Size:

Small and Medium-Sized Enterprises
Large Enterprises

Breakup by Verticals:

BFSI
Healthcare
Retail
IT and Telecommunication
Manufacturing
Media and Entertainment
Others

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:
The report has also analysed the competitive landscape of the market 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.

Key Questions Answered in This Report

1. What was the size of the global Big Data as a Service market in 2022?
2. What is the expected growth rate of the global Big Data as a Service market during 2023- 2028?
3. What are the key factors driving the global Big Data as a Service market?
4. What has been the impact of COVID-19 on the global Big Data as a Service market?
5. What is the breakup of the global Big Data as a Service market based on the solution?
6. What is the breakup of the global Big Data as a Service market based on the deployment model?
7. What is the breakup of the global Big Data as a Service market based on the platform type?
8. What is the breakup of the global Big Data as a Service market based on the organization size?
9. What is the breakup of the global Big Data as a Service market based on the verticals?
10. What are the key regions in the global Big Data as a Service market?
11. Who are the key players/companies in the global Big Data as a Service market?