The global big data as a service (BDaaS) market is estimated
to reach USD 51.9 billion by 2025, registering a CAGR of 38.7% over the
forecast period, according to a new study by Grand View Research, Inc. The
combination of big data analytics technologies and cloud computing platforms
has led to the development of Big Data as a Service or BDaaS. BDaaS offers
analyses of large and complex datasets over the Internet or as cloud-hosted
services. The increasing requirement of structured data for analyses, which
helps organizations achieve targets, coupled with the growing number of social
media platforms and users accessing accessible multimedia content on the
Internet, such as videos, audio, and text, are anticipated to drive the market
growth over the forecast period.
Data-Driven Decision Making (DDDM)
helps in addressing the problem of unstructured data analysis and enables
organizations to make more informed decisions with transparency and
accountability. It also offers increased capacity to scale changes and
flexibility in modeling change scenarios, among others. For instance, Google
has created a People Analytics Department that supports the organization in
making decisions with fact-based data. In this department, Google has created a
group called Information Lab, which includes social scientists who conduct
innovative research that has changed the organizational practice within the
company.
The growing adoption of social media
analytics in BDaaS to monitor consumer preferences and offer personalization
insights is anticipated to propel market growth over the forecast period.
Moreover, the increasing importance of sentiment analysis has also encouraged
enterprises to integrate social media into their business processes. This has
resulted in a large amount of data being stored by organizations, which in turn,
is expected to propel market growth over the forecast period.
Key market players are focusing on
mergers & acquisitions to enhance their regional presence and target new
customers across the globe. However, increasing privacy concerns coupled with
the rapidly rising purchase costs and costs for installation, deployment, and
maintenance may hamper the market over the forecast period.
Browse full research report on Big Data as a Service Market: https://www.grandviewresearch.com/industry-analysis/big-data-as-a-service-bdaas-market
Further key findings from the study suggest that:
- The global market is anticipated to witness substantial
growth owing to the increasing requirement of structured data for analysis
and long-term data retention over the forecast period
- The hybrid cloud segment is expected to register a CAGR
exceeding 40% over the forecast period owing to benefits it provides in
terms of cost efficiency, scalability, flexibility, and security
- Hadoop-as-a-Service emerged as the dominant segment in 2018
owing to the large number of companies frequently accessing virtual storage
and analysis of data on the cloud across the globe
- North America captured a significant share in the global
BDaaS market owing to the increasing government funding to support big
data projects in the U.S. and high penetration of e-commerce in the region
- The APAC market is estimated to showcase significant growth
over the forecast period owing to the high rate of penetration of
smartphones and internet users in Brazil and Mexico
- Key market players operating in the Big Data as a Service
market, including Amazon Inc., IBM Corporation, and Dell Inc., are focused
on expanding their market presence and targeting new customers through
mergers and acquisitions.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/big-data-as-a-service-bdaas-market/request/rs1
Grand View Research has segmented the global Big Data as a Service
market based on deployment, solution, enterprise size, end use, and region:
Big Data as a Service Deployment Outlook (Revenue, USD Million,
2015 - 2025)
- Public
Cloud
- Private
Cloud
- Hybrid
Cloud
Big Data as a Service Solution Outlook (Revenue, USD Million, 2015
- 2025)
- Hadoop-as-a-Service
- Data-as-a-Service
- Data
Analytics-as-a-Service
Big Data as a Service Enterprise Size Outlook (Revenue, USD
Million, 2015 - 2025)
- Small
and Medium-sized Business
- Large
Enterprise
Big Data as a Service End Use Outlook (Revenue, USD Million, 2015
- 2025)
- BFSI
- Manufacturing
- Retail
- Media
& Entertainment
- Healthcare
- IT
& Telecommunication
- Government
- Others
Big Data as a Service Regional Outlook (Revenue, USD Million, 2015
- 2025)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Mexico
- Middle
East & Africa (MEA)
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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