Big Data-as-a-service Market - Forecast(2024 - 2030)
Overview
The Big Data-as-a-service Market size is forecast to reach USD 73.9 billion by 2030, after growing at a CAGR of 19.1% during the forecast period 2024-2030. Big Data as a Service (BDaaS) is a comprehensive solution that gives companies wishing to use big data analytics access to both the platform and analytical tools. BDaaS systems, which are outfitted with sturdy hardware and sophisticated software, simplify the data gathering, storing, processing, and analysis process. These platforms, which come with different degrees of customization, let businesses make data-driven decisions by allowing them to sort through enormous amounts of data and extract insightful information. BDaaS solutions include multifaceted functionalities including predictive analytics and consumer behavior mapping and operate on a variety of techniques, including machine learning and natural language processing.
Big Data systems that are cloud-native and offer scalability, flexibility, and affordability are becoming more and more popular as cloud computing gains traction. By utilizing managed services for processing, analytics, and storage, these platforms free up enterprises to concentrate more on creating insights than managing infrastructure. They enable enterprises to fully utilize their data assets by facilitating seamless integration with other cloud services and supporting hybrid and multi-cloud setups. Big Data operations may be streamlined and insights can be delivered more quickly with DataOps, an agile and collaborative approach to data management that is gaining popularity. DataOps shortens cycle times while improving data quality, dependability, and governance through the integration of DevOps principles with data engineering and analytics operations. Key components of DataOps include automation, version control, and continuous integration/continuous deployment (CI/CD) pipelines. These components help organizations make better decisions based on timely and reliable data and achieve faster time-to-value.
Market Snapshort :
Report Coverage
The report “Big Data-as-a-service Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Big Data-as-a-service Market
By Components: Solutions (Hadoop as a Service, Data Analytics as a Service and Others), Services.
By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud.
By Organization Size: Small & Medium-Sized Businesses, Large Enterprise.
By Industry Verticals: Healthcare & Life Sciences, Retail & Consumer Goods, Manufacturing, Travel & Hospitality, IT & Telecommunication, Media & Entertainment, Government, BFSI, Others.
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands and Others), APAC (China, Japan India, South Korea, Australia & New Zealand, Indonesia, Malaysia, Taiwan and Others), South America (Brazil, Argentina, Chile, Colombia and others), and RoW (Middle East and Africa).
Key Takeaways
- North America dominated the Big Data-as-a-service Market in 2023, which is accounted for nearly 36.5%. owing to factors like rapid digital transformation, technological innovation, and the presence of important market competitors, North America continues to hold a large position in the global BDaaS market.
- Solutions dominated the Big Data-as-a-service Market in 2023. A major reason propelling the big data as a service market is the growing demand for insights derived from data to assist in business decision-making.
- The market for big data as a service (BDaaS) has grown significantly, largely due to the growing demand for data-driven decision-making. More than just gathering and storing data, modern businesses need deep analytics that can transform unprocessed data into useful insights.
By Component - Segment Analysis
Solutions dominated the Big Data-as-a-service Market in 2023 with 69.1% share. A major reason propelling the big data as a service market is the growing demand for insights derived from data to assist in business decision-making. Companies are turning to professional services for analytics due to the increasing complexity and volume of data. In addition, businesses seeking to improve resource allocation find DAaaS solutions appealing due to their scalability and affordability. The adoption of safe and dependable data analytics solutions by enterprises is also being driven by regulatory compliance. Finally, DAaaS acceptance across a range of industries has been strengthened by the development of AI and machine learning technology. Conversely, the HDaaS and DaaS divisions are propelled by the increasing significance of real-time data analytics. As per Infomineo 2023, Big data users experience an average 8% boost in revenue. One of the most significant benefits that these services provide to companies looking to save costs is flexibility in the processing and storing of data.
By Industry Vertical - Segment Analysis
BFSI dominated the Big Data-as-a-service Market in 2023 with a 22.4% share. This industry is also anticipated to contribute to the market's future growth because of heightened regulatory scrutiny and improved client satisfaction, which includes features like fraud detection, risk management, and customized solutions. Big Data as a Service also helps with issues like fraud, which is a major concern for the banking industry. Its growth can be ascribed to higher regulatory scrutiny, fraud detection, risk management, and tailored solutions, as well as better customer satisfaction. Big Data as a Service helps with issues like fraud, which is a major concern for the banking industry. The demand for BDaaS goods and services is rising in the BFSI sector as a result. Solutions for fraud detection and risk management are widely employed to preserve clients' trust, enhance their reputation, and grow revenue. The BFSI industry's Big Data as a Service (BDaaS) market is growing as a result of these causes.
By Geography - Segment Analysis
North America dominated the Big Data-as-a-service Market in 2023, which is accounted for nearly 36.5%. owing to factors like rapid digital transformation, technological innovation, and the presence of important market competitors, North America continues to hold a large position in the global BDaaS market. Its dominant position is partly a result of supportive government initiatives and a strong investment climate. The market is driven by the outstanding demand for BDaaS in North America across many industries, such as healthcare, finance, and retail. For instance, in August 2022, the big data startup Cloudera Inc. has introduced Cloudera Data Platform One, a new software-as-a-service-based data lakehouse offering that makes it simpler for businesses to move their data analytics to the cloud. This diversity is expected to further propel the market. Furthermore, the use of advanced BDaaS solutions is important due to strict regulatory restrictions regarding data protection and control. The increasing use of BDaaS solutions in North America is facilitated by computing.
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Drivers – Big Data-as-a-service Market
• Increasing Adoption of Data-Driven Decision-Making
The market for big data as a service (BDaaS) has grown significantly, largely due to the growing demand for data-driven decision-making. More than just gathering and storing data, modern businesses need deep analytics that can transform unprocessed data into useful insights. These observations have a significant impact on strategy formulation, operational efficiency, customer engagement, and even product development. Retail companies, for instance, can lower overhead costs by using data analytics to optimize stock levels in real time. In a similar vein, healthcare providers can use analytics to spot trends that could result in better patient outcomes. The key takeaway here is that BDaaS-powered data-driven decision-making gives organizations the ability to make strategic, well-informed decisions about a range of operational aspects. Analytics' importance in contemporary company planning has moved from being a luxury or "add-on" to a requirement. The market for BDaaS solutions is being pushed by the entire service model of BDaaS, which includes data collection, storage, and advanced analytics. This model makes it easier for enterprises to adopt a data-driven approach.
• Growing significance of flexibility and scalability in business operations
The scalability and flexibility of BDaaS is another reason its popularity is increasing. Businesses may need to make a sizable initial investment in data operations. The ability to expand these processes in accordance with the unique requirements of the business is provided by BDaaS solutions. For instance, a small business can raise its utilization of data analytics as it expands without incurring a corresponding increase in cost, even if it starts off with limited capabilities. This flexibility is particularly helpful for small and medium-sized businesses (SMEs) whose needs for data analytics are changing yet their resources are limited. More allure for BDaaS products is the flexibility to tailor solutions to the needs of particular industries, such as healthcare, banking, or retail. Thus, For Instance, in 2022, IBM unveiled new software that aims to assist businesses in dismantling data and analytics silos so they can swiftly make decisions based on data and manage unforeseen interruptions. Furthermore, it is anticipated that IBM Planning Analytics with Watson, an AI-powered tool that facilitates operational and financial planning, will be made accessible on AWS as a service. BDaaS solutions' flexibility and scalability are more than just features; they are crucial characteristics that match changing business needs, which makes them a top option for organizations wishing to engage in data analytics.
Challenges – Big Data-as-a-service Market
Data privacy and security
Maintaining appropriate security measures and managing privacy concerns in the big data as a service (BDaaS) business is critical due to the exponential growth in data quantities. In order to safeguard confidential data against cyberattacks and unauthorized access, big data service providers need to navigate the complex world of data protection. Government regulations make matters worse because breaking them could result in heavy fines. The European Union's GDPR is one of the important regulations it imposes strict privacy protections and imposes hefty fines for violations. Furthermore, the Health Insurance Portability and Accountability Act (HIPAA) in the United States establishes strict security and privacy guidelines that regulate the protection of healthcare data. The operational picture becomes more complex as a result of the need for a comprehensive strategy to security and privacy in order to navigate these regulations and enable flawless big data as a service operations. The market will increase moderately as a result of these factors over the projected period.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Big Data-as-a-service Market in 2023, The major players in the Big Data-as-a-service Market are Microsoft, SAP, Oracle, IBM, Google Incorporation, SAP SE, Hewlett-Packard, AWS Inc, Teradata Corporation, Cloudera Inc. and Others.
Developments:
- In November 2022, IBM unveiled new software that aims to assist businesses in dismantling data and analytics silos so they can swiftly make decisions based on data and manage unforeseen interruptions. Furthermore, it is anticipated that IBM Planning Analytics with Watson, an AI-powered tool that facilitates operational and financial planning, will be made accessible on AWS as a service.
- In August 2022, the big data startup Cloudera Inc. has introduced Cloudera Data Platform One, a new software-as-a-service-based data lakehouse offering that makes it simpler for businesses to move their data analytics to the cloud.
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16.2.SAP
16.3.Oracle
16.4.IBM
16.5.Google Incorporation
16.6.SAP SE
16.7.Hewlett-Packard
16.8.AWS Inc
16.9.Teradata Corporation
16.10.Cloudera Inc.
16.11.Others.
LIST OF TABLES
1.Global Big Data As A Service Market Analysis By Type of Solutions Market 2023-2030 ($M)
1.1 Hadoop-As-A-Service Market 2023-2030 ($M) - Global Industry Research
1.2 Data-As-A-Service Market 2023-2030 ($M) - Global Industry Research
1.3 Data Analytics-As-A-Service Market 2023-2030 ($M) - Global Industry Research
2.Global Market Analysis By Deployment Model Market 2023-2030 ($M)
2.1 Public Cloud Market 2023-2030 ($M) - Global Industry Research
2.2 Private Cloud Market 2023-2030 ($M) - Global Industry Research
2.3 Hybrid Cloud Market 2023-2030 ($M) - Global Industry Research
3.Global Market Analysis By Organization Size Market 2023-2030 ($M)
3.1 Small & Medium-Sized Businesses Market 2023-2030 ($M) - Global Industry Research
3.2 Large Enterprise Market 2023-2030 ($M) - Global Industry Research
4.Global Big Data As A Service Market Analysis By Vertical Market 2023-2030 ($M)
4.1 Healthcare & Life Sciences Market 2023-2030 ($M) - Global Industry Research
4.2 Retail & Consumer Goods Market 2023-2030 ($M) - Global Industry Research
4.3 Manufacturing Market 2023-2030 ($M) - Global Industry Research
4.4 Travel & Hospitality Market 2023-2030 ($M) - Global Industry Research
4.5 IT & Telecommunication Market 2023-2030 ($M) - Global Industry Research
4.6 Media & Entertainment Market 2023-2030 ($M) - Global Industry Research
4.7 Government Market 2023-2030 ($M) - Global Industry Research
5.Global Big Data As A Service Market Analysis By Type of Solutions Market 2023-2030 (Volume/Units)
5.1 Hadoop-As-A-Service Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Data-As-A-Service Market 2023-2030 (Volume/Units) - Global Industry Research
5.3 Data Analytics-As-A-Service Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global Market Analysis By Deployment Model Market 2023-2030 (Volume/Units)
6.1 Public Cloud Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Private Cloud Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Hybrid Cloud Market 2023-2030 (Volume/Units) - Global Industry Research
7.Global Market Analysis By Organization Size Market 2023-2030 (Volume/Units)
7.1 Small & Medium-Sized Businesses Market 2023-2030 (Volume/Units) - Global Industry Research
7.2 Large Enterprise Market 2023-2030 (Volume/Units) - Global Industry Research
8.Global Big Data As A Service Market Analysis By Vertical Market 2023-2030 (Volume/Units)
8.1 Healthcare & Life Sciences Market 2023-2030 (Volume/Units) - Global Industry Research
8.2 Retail & Consumer Goods Market 2023-2030 (Volume/Units) - Global Industry Research
8.3 Manufacturing Market 2023-2030 (Volume/Units) - Global Industry Research
8.4 Travel & Hospitality Market 2023-2030 (Volume/Units) - Global Industry Research
8.5 IT & Telecommunication Market 2023-2030 (Volume/Units) - Global Industry Research
8.6 Media & Entertainment Market 2023-2030 (Volume/Units) - Global Industry Research
8.7 Government Market 2023-2030 (Volume/Units) - Global Industry Research
9.North America Big Data As A Service Market Analysis By Type of Solutions Market 2023-2030 ($M)
9.1 Hadoop-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
9.2 Data-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
9.3 Data Analytics-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
10.North America Market Analysis By Deployment Model Market 2023-2030 ($M)
10.1 Public Cloud Market 2023-2030 ($M) - Regional Industry Research
10.2 Private Cloud Market 2023-2030 ($M) - Regional Industry Research
10.3 Hybrid Cloud Market 2023-2030 ($M) - Regional Industry Research
11.North America Market Analysis By Organization Size Market 2023-2030 ($M)
11.1 Small & Medium-Sized Businesses Market 2023-2030 ($M) - Regional Industry Research
11.2 Large Enterprise Market 2023-2030 ($M) - Regional Industry Research
12.North America Big Data As A Service Market Analysis By Vertical Market 2023-2030 ($M)
12.1 Healthcare & Life Sciences Market 2023-2030 ($M) - Regional Industry Research
12.2 Retail & Consumer Goods Market 2023-2030 ($M) - Regional Industry Research
12.3 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
12.4 Travel & Hospitality Market 2023-2030 ($M) - Regional Industry Research
12.5 IT & Telecommunication Market 2023-2030 ($M) - Regional Industry Research
12.6 Media & Entertainment Market 2023-2030 ($M) - Regional Industry Research
12.7 Government Market 2023-2030 ($M) - Regional Industry Research
13.South America Big Data As A Service Market Analysis By Type of Solutions Market 2023-2030 ($M)
13.1 Hadoop-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
13.2 Data-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
13.3 Data Analytics-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
14.South America Market Analysis By Deployment Model Market 2023-2030 ($M)
14.1 Public Cloud Market 2023-2030 ($M) - Regional Industry Research
14.2 Private Cloud Market 2023-2030 ($M) - Regional Industry Research
14.3 Hybrid Cloud Market 2023-2030 ($M) - Regional Industry Research
15.South America Market Analysis By Organization Size Market 2023-2030 ($M)
15.1 Small & Medium-Sized Businesses Market 2023-2030 ($M) - Regional Industry Research
15.2 Large Enterprise Market 2023-2030 ($M) - Regional Industry Research
16.South America Big Data As A Service Market Analysis By Vertical Market 2023-2030 ($M)
16.1 Healthcare & Life Sciences Market 2023-2030 ($M) - Regional Industry Research
16.2 Retail & Consumer Goods Market 2023-2030 ($M) - Regional Industry Research
16.3 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
16.4 Travel & Hospitality Market 2023-2030 ($M) - Regional Industry Research
16.5 IT & Telecommunication Market 2023-2030 ($M) - Regional Industry Research
16.6 Media & Entertainment Market 2023-2030 ($M) - Regional Industry Research
16.7 Government Market 2023-2030 ($M) - Regional Industry Research
17.Europe Big Data As A Service Market Analysis By Type of Solutions Market 2023-2030 ($M)
17.1 Hadoop-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
17.2 Data-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
17.3 Data Analytics-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
18.Europe Market Analysis By Deployment Model Market 2023-2030 ($M)
18.1 Public Cloud Market 2023-2030 ($M) - Regional Industry Research
18.2 Private Cloud Market 2023-2030 ($M) - Regional Industry Research
18.3 Hybrid Cloud Market 2023-2030 ($M) - Regional Industry Research
19.Europe Market Analysis By Organization Size Market 2023-2030 ($M)
19.1 Small & Medium-Sized Businesses Market 2023-2030 ($M) - Regional Industry Research
19.2 Large Enterprise Market 2023-2030 ($M) - Regional Industry Research
20.Europe Big Data As A Service Market Analysis By Vertical Market 2023-2030 ($M)
20.1 Healthcare & Life Sciences Market 2023-2030 ($M) - Regional Industry Research
20.2 Retail & Consumer Goods Market 2023-2030 ($M) - Regional Industry Research
20.3 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
20.4 Travel & Hospitality Market 2023-2030 ($M) - Regional Industry Research
20.5 IT & Telecommunication Market 2023-2030 ($M) - Regional Industry Research
20.6 Media & Entertainment Market 2023-2030 ($M) - Regional Industry Research
20.7 Government Market 2023-2030 ($M) - Regional Industry Research
21.APAC Big Data As A Service Market Analysis By Type of Solutions Market 2023-2030 ($M)
21.1 Hadoop-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
21.2 Data-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
21.3 Data Analytics-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
22.APAC Market Analysis By Deployment Model Market 2023-2030 ($M)
22.1 Public Cloud Market 2023-2030 ($M) - Regional Industry Research
22.2 Private Cloud Market 2023-2030 ($M) - Regional Industry Research
22.3 Hybrid Cloud Market 2023-2030 ($M) - Regional Industry Research
23.APAC Market Analysis By Organization Size Market 2023-2030 ($M)
23.1 Small & Medium-Sized Businesses Market 2023-2030 ($M) - Regional Industry Research
23.2 Large Enterprise Market 2023-2030 ($M) - Regional Industry Research
24.APAC Big Data As A Service Market Analysis By Vertical Market 2023-2030 ($M)
24.1 Healthcare & Life Sciences Market 2023-2030 ($M) - Regional Industry Research
24.2 Retail & Consumer Goods Market 2023-2030 ($M) - Regional Industry Research
24.3 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
24.4 Travel & Hospitality Market 2023-2030 ($M) - Regional Industry Research
24.5 IT & Telecommunication Market 2023-2030 ($M) - Regional Industry Research
24.6 Media & Entertainment Market 2023-2030 ($M) - Regional Industry Research
24.7 Government Market 2023-2030 ($M) - Regional Industry Research
25.MENA Big Data As A Service Market Analysis By Type of Solutions Market 2023-2030 ($M)
25.1 Hadoop-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
25.2 Data-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
25.3 Data Analytics-As-A-Service Market 2023-2030 ($M) - Regional Industry Research
26.MENA Market Analysis By Deployment Model Market 2023-2030 ($M)
26.1 Public Cloud Market 2023-2030 ($M) - Regional Industry Research
26.2 Private Cloud Market 2023-2030 ($M) - Regional Industry Research
26.3 Hybrid Cloud Market 2023-2030 ($M) - Regional Industry Research
27.MENA Market Analysis By Organization Size Market 2023-2030 ($M)
27.1 Small & Medium-Sized Businesses Market 2023-2030 ($M) - Regional Industry Research
27.2 Large Enterprise Market 2023-2030 ($M) - Regional Industry Research
28.MENA Big Data As A Service Market Analysis By Vertical Market 2023-2030 ($M)
28.1 Healthcare & Life Sciences Market 2023-2030 ($M) - Regional Industry Research
28.2 Retail & Consumer Goods Market 2023-2030 ($M) - Regional Industry Research
28.3 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
28.4 Travel & Hospitality Market 2023-2030 ($M) - Regional Industry Research
28.5 IT & Telecommunication Market 2023-2030 ($M) - Regional Industry Research
28.6 Media & Entertainment Market 2023-2030 ($M) - Regional Industry Research
28.7 Government Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Big Data-as-a-service Market Revenue, 2023-2030 ($M)
2.Canada Big Data-as-a-service Market Revenue, 2023-2030 ($M)
3.Mexico Big Data-as-a-service Market Revenue, 2023-2030 ($M)
4.Brazil Big Data-as-a-service Market Revenue, 2023-2030 ($M)
5.Argentina Big Data-as-a-service Market Revenue, 2023-2030 ($M)
6.Peru Big Data-as-a-service Market Revenue, 2023-2030 ($M)
7.Colombia Big Data-as-a-service Market Revenue, 2023-2030 ($M)
8.Chile Big Data-as-a-service Market Revenue, 2023-2030 ($M)
9.Rest of South America Big Data-as-a-service Market Revenue, 2023-2030 ($M)
10.UK Big Data-as-a-service Market Revenue, 2023-2030 ($M)
11.Germany Big Data-as-a-service Market Revenue, 2023-2030 ($M)
12.France Big Data-as-a-service Market Revenue, 2023-2030 ($M)
13.Italy Big Data-as-a-service Market Revenue, 2023-2030 ($M)
14.Spain Big Data-as-a-service Market Revenue, 2023-2030 ($M)
15.Rest of Europe Big Data-as-a-service Market Revenue, 2023-2030 ($M)
16.China Big Data-as-a-service Market Revenue, 2023-2030 ($M)
17.India Big Data-as-a-service Market Revenue, 2023-2030 ($M)
18.Japan Big Data-as-a-service Market Revenue, 2023-2030 ($M)
19.South Korea Big Data-as-a-service Market Revenue, 2023-2030 ($M)
20.South Africa Big Data-as-a-service Market Revenue, 2023-2030 ($M)
21.North America Big Data-as-a-service By Application
22.South America Big Data-as-a-service By Application
23.Europe Big Data-as-a-service By Application
24.APAC Big Data-as-a-service By Application
25.MENA Big Data-as-a-service By Application
26.Google Incorporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Hewlett-Packard, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.IBM Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Teradata Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Microsoft Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Oracle Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.SAP SE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.SAS Institute Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.EMC Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)