Big Data as a Service Market report by MarketsandMarkets™ provides well-organized statistical overview on the basis of trends, market share, applications, growth factors & forecast.
Northrook, IL -- (SBWIRE) -- 02/21/2020 -- According to a new market research report "Big Data as a Service (BDaaS) Market by Component (Solutions and Services), Organization Size, Deployment Type, Industry Vertical (BFSI, IT and Telecom, Healthcare and Life Sciences, eCommerce and Retail, and Manufacturing), and Region - Global Forecast to 2024", published by MarketsandMarkets™, the global Big Data as a Service (BDaaS) market size expected to grow from $11.3 billion in 2019 to $42.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 30.5% during the forecast period. Key factors driving the BDaaS market include the growing demand in industries to gain actionable insights from big data and enormous amount of data generated due to digitization and automation of enterprises across industries.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=4129107
Browse in-depth TOC on "Big Data as a Service (BDaaS) Market"
Large enterprises segment to hold a larger market size during the forecast period
The adoption of BDaaS solutions is high among large enterprises, as they spend a significant amount to make themselves technologically proficient. Large enterprises have distributed data scattered over various departments. In order to gain valuable insights out of this clustered data, large enterprises are deploying on-demand services to leverage the benefits of cloud-based analysis of big data. They are making significant use of cloud-based analytics to combine their external and internal information and to extract valuable insights out of it. Big data analytics provide enterprises with faster access to their data. Large enterprises also spend a significant amount on training workshops and education to enable their employees to effectively leverage the benefits of BDaaS solutions.
eCommerce and retail segment to grow at the highest CAGR during the forecast period
The data volume of the eCommerce and retail industry has increased significantly in the recent years. Through various omni-channels, vast unstructured data, and social communication, the industry has realized the need to recognize the benefits of big data. BDaaS technologies offer centralized processing of a large chunk of this data. Hence, companies with a strong global presence can access the data of their centralized located offices from anywhere at any time. This industry uses advanced analytical solutions to enhance its customer experience by analyzing the data stored in the form of customer feedbacks. A high social media presence of these companies to increase their market presence increases the amount of big data. eCommerce and retail organizations utilize the benefits of cloud-based storage to store a huge amount of unstructured data due to its cost-effectiveness and deployment capabilities to gain actionable insights.
North America to account for a high market share during the forecast period
The adoption of BDaaS solutions is expected to be the highest in North America as compared to other regions. North America is considered to be the most advanced region in terms of technological adoption. This is due to the presence of various developed economies, including the US and Canada, and their focus on innovations obtained from Research and Development (R&D) and innovative technologies. Organizations and customers in the region have adopted cutting-edge technological solutions. Due to rapid technological developments, customers' demands in this region are changing swiftly. This is because of the early adoption of advanced technologies, such as advanced analytics, cloud, big data, Artificial Intelligence (AI), Machine Learning (ML), and Internet of Things (IoT). The high adoption rate of cloud and related services, and far-reaching cloud network across the region due to the presence of strong cloud service providers further fuels the growth of the market in the region. A direct presence of many major BDaaS vendors in North America, has further added to the high adoption of BDaaS solutions in North America.
The global Big Data as a Service (BDaaS) market comprises major solution providers, such as IBM (US), Oracle (US), Microsoft (US), Google (US), AWS (US), SAP (Germany), Teradata (US), SAS (US), Dell Technologies (US), HPE (US), CenturyLink (US), Splunk (US), Cloudera (US), Salesforce (US), Qubole (US), GoodData (US), Hitachi Vantara (US), IRI (US), 1010data (US), and Guavus (US). The study includes an in-depth competitive analysis of key players in the BDaaS market with their company profiles, recent developments, and key market strategies.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Sanjay Gupta
630 Dundee Road
Northbrook, IL 60062
MnM Blog: https://mnmblog.org
Content Source: https://www.marketsandmarkets.com/PressReleases/big-data-as-a-service.asp