Reportocean.com have announced the addition of a new report titled "Big Data as a Service Market and Forecast to 2025"
Delhi, Delhi/NCR -- (SBWIRE) -- 11/19/2019 -- Based on the latest insights in the report title " Big Data as a Service Market Size study, by Solution Type (Hadoop as a service, Data as a Service, Data Analytics as a Service), by Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), by End-User (Telecom and IT, Energy and Power, BFSI, Healthcare, Retail, Manufacturing, Others) and Regional Forecasts 2018-2025 " by Report Ocean, the Global Big Data as a Service Market is estimated to reach USD 27.93 billion by 2025 growing at a CAGR of more than 31%.
Big data as a service, aka BDaaS, is a term used to refer a cloud-based framework that helps in providing end-to-end big data solutions to organizations on demand. It can be defined as one combined structure of data analytics-as-a-service, hadoop-as-a-service (HDaaS), and data-as-a-service (DaaS). The growing need to ensure optimum data quality and creating a channelized data flow across enterprises has prompted the need for technologically advanced big data solutions. These solutions are needed in order to store, assess, collect, visualize, make predictions, and extract insights from the collected information gained from large data. The insights are subsequently used to make favorable business decisions and ensure growth of the organization. The increasing usage and adoption of cloud-based predictive analytics is anticipated to boost the growth of the big data as a service market in the coming years.
The market for big data as a service is driven by the growing requirement of structured data for the purpose of analysis. This helps organizations to attain targets and expand at a strikingly faster pace. Add to this, the rising demand for data science and predictive analysis is prompting the growth of the global market. Moreover, the increasing popularity of big data analytics is also contributing to the overall market growth. It is also reported that the growing integration of cloud computing technology is positively influencing the market growth and is slated to continue doing so over the forecast period. The report on the global Big Data as a Service market revealed the growth to be at a compound annual rate of 31.52%. The valuation of the Big Data as a Service market was further stated to surpass its previous valuation of USD 3.13 billion in 2017 by the end of the forecast period in 2025.
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The global Big Data as a Service market has been segmented in terms of type and applications.
By solution, the market includes Data as a Service, Hadoop as a service, and Data Analytics as a Service.
By deployment model, the market segments into hybrid cloud, public cloud, and private cloud.
By end-user, the market comprises BFSI, telecom and IT, retail, energy and power, healthcare, manufacturing, and others.
The global Big Data as a Service market is geographically distributed across the following key regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. North America is the leading regional market due to the presence of various key players herein. The market is expected to grow at a consistent pace and garner an impressive CAGR over the forecast period of 2018-2025.
The global Big Data as a Service market comprises a host of key players. Accenture PLC, Microsoft Corporations, Thoughtspot Inc., Oracle Corporations, SAP SE, IBM Corporations, Guavus Inc, Information Builders Inc., SAS Institute, Hewlett-Packard Company, Cisco System Inc., Datastax Inc., Alteryx Ltd., Atscale Inc., Opera Solutions LLC, and so on. The players are making considerable efforts to gain an upper hand in the market landscape and edge past their immediate competitors.
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