May 28, 2020 9:48 AM ET
iCrowd Newswire – May 28, 2020
The Global Big Data as a Service Market is estimated to grow at a CAGR of 36.9% during the forecast period 2019-2026. The market research study presents that the big data as a service industry accounted $4.99 billion in the year 2018 and is estimated to reach $61.42 billion by the end of the year 2026. The Hadoop-as-a-service segment under the type segment is anticipated to show the fastest growth at a CAGR of 38.9% throughout the forecast period 2019-2026. Whereas, the hybrid cloud segment is estimated to show the fastest growth among other deployment models at a CAGR of 40.9% during the forecast period 2019-2026, owing to various benefits such as security, cost-efficiency, flexibility and scalability offered by hybrid cloud model.
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The global big data as a service industry is driven by growing demand for real-time data analytics, growth of big data across the globe, government initiatives supporting big data infrastructures and surge in adoption of predictive modelling tools. However, lack of big data IT skills and security and privacy threats act as growth impeding factor in the global big data as a service market. While on the contrary, huge investment in IT sectors will create lucrative opportunities for the market players in the global big data as a service market.
Segmentation Overview of the Global Big Data as a Service Market
The global big data as a service market is segmented on the basis of various market segments that include solution type, deployment model, organization size and industry verticals. These segments are further categorized into various sub-segments to study the market in detail considering various factors and geographical conditions.
The Solution Type Segment of the Global Big Data as a Service Market is Sub-Segmented into:
- Data Analytics-as-a-Service
The Deployment Model Segment of the Global Big Data as a Service Market is Sub-Segmented into:
- Public Cloud
- Private Cloud
- Hybrid Cloud
The Organization Size Segment of the Global Big Data as a Service Market is Sub-Segmented into:
- Small & Medium Enterprises
- Large Enterprises
The Industry Vertical Segment of the Global Big Data as a Service Market is Sub-Segmented into:
- Banking, Financial Services and Insurance (BFSI)
- Retail and E-Commerce
- IT & Telecom
Geographical Overview of the Global Big Data as a Service Market
The global big data as a service market is segmented on the basis of various geographical regions, such as:
- North America (Canada and U.S.)
- Europe (Germany, France, UK, Spain, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia and Rest of Asia Pacific)
- LAMEA (Latin America, Middle East and Africa)
As per the regional study, the North America big data as a service market accounted to held the largest market share in the year 2019 and contributed ~2/5th of the share in the global marketplace in the year 2019. The regional dominance is due to the large contribution from developed economies in terms of revenue share in the region. However, the Asia Pacific big data as a service market is estimated to grow at a CAGR of 42.1% during the forecast period 2019-2026 and the regional growth is due to increase in number of smartphones and internet users in the Asia-Pacific region.
Market Competition Insights
Accenture, Teradata Corporation, Google, Inc., SAP SE, SAS Institute Inc., Microsoft Corporation, Oracle Corporation, Hewlett Packard Enterprise (HP), IBM Corporation and Amazon Web Services, Inc. are some major players included in the research study of the global big data as a service market. The market players are adopting various competitive strategies to withhold the large market share in the global big data as a service market.
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Keywords: Big Data as a Service Market, Big Data as a Service Market Size