Albany, NY -- (SBWIRE) -- 08/24/2017 -- With the rise in IT consumerization, technology has created a new platform for financial applications, helping banks to collect, consolidate, and consume information to change the engagement model with customers through websites and mobile applications.

With the rise in mobile workforce and consumer expectation, financial institutions are gearing up their efforts to attract, retain, and grow their next-generation IT-driven bankers. However, many industry verticals are struggling to act quickly to meet the expectations of online customers due to fragmented processes, legacy technology infrastructure, and ingrained businesses.

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Financial service is in a positive stage for the adoption of big data. Most financial services currently focus on improving their traditional data infrastructure and address issues such as customer data management, risk, workforce mobility, and multichannel effectiveness. These consistent problems have led financial organization to deploy big data as a long-term strategy.

Technavios analysts forecast the global big data as a service market to grow at a CAGR of 60.9% during the period 2016-2020.

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Covered in this report

The report covers the present scenario and the growth prospects of the global big data as a service market for 2016-2020. To calculate the market size, the report considers the revenue generated from the three segments: Hadoop as a service (HaaS), data platform as a service (PaaS), and analytics as a service that consists of consulting and advisory services as well.

The market is divided into the following segments based on geography:
Americas
APAC
EMEA

Technavio's report, Global Big-data as a Service Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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Key vendors
HP Co.
IBM Corp.
SAP SE
SAS Institute Inc.
Teradata

Other prominent vendors
1010data
Accenture
Alteryx
Altiscale
Atos
Attivio
Chartio
Cirro
ClearStory Data
Cloudera
Continuum Analytics
Datameer
DataStax
Doopex
EMC
Enthought
Hortonworks
MAANA
MapR Technologies
MarkLogic
Microsoft
MongoDB
Mu Sigma
Predixion Software

Market driver
Increased use of cloud-based predictive analytics
For a full, detailed list, view our report

Market challenge
Data integration issues
For a full, detailed list, view our report

Market trend
Rise in spending on customer engagements
For a full, detailed list, view our report

Key questions answered in this report
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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