Big Data as a Service Global Market – Overview
Big data as a service (BDaaS) is a statistical tool which delivers the information by an outside provider. This helps the organization to understand and gain insights from large information set. The factors driving the growth of big data as service market is the increasing requirement of structured data for analysis which helps the organizations to achieve targets and grow at a faster pace. The demand for data science and predictive analysis is increasing which boosts the big global data as a service market. According to a recent study report published by the Market Research Future, The global market of Big Data as a Service (FPGA) is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
Other factors such as the proliferation of several real time information from sources including but not limiting to social media, mobile devices, log files etc. has played a vital role in the growth of the big data market. However, challenges associated with privacy has hampered the growth of the big data market to a greater extent. On the other hand, demand across different business vertical and investment made by prominent market players in research and development would create greater opportunities.
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The aspects such as the emergence of social media analytics to spur market growth during the forecast period. Over the past few years, social media has emerged as a primary data source for most retail organizations as they can obtain instant feedback about their products and services through blogs and social networking sites. A rapid increase in the number of social media sites has created an augmented demand to track user interactions on these sites. Moreover, the increasing importance of sentiment analysis and advances in text analysis have prompted organizations to integrate social media into their business process. This has resulted in huge amount of data stored by an enterprise, which will, in turn, impel the growth prospects of the Big Data as a Service Market over the predicted period.
Industry News
02 Nov 2017 – IBM announced new offerings to its Watson Data Platform, including data cataloging and data refining, which is designed to make it easier for developers and data scientists to analyze and prepare enterprise data for AI applications, regardless of its structure or where it resides. By improving data visibility and helping to better enforce data security policies, users can now connect and share data across public and private cloud environments.
September 4, 2017 – Cambridge Technology Enterprises Limited (CTE), a leading global technology company transforming organizations into “AI-first” leaders, is pleased to announce that it has achieved the Amazon Web Services (AWS) Big Data Competency Status.
The AWS Competency program highlights AWS Partner Network (APN) members that have passed a rigorous audit of their security, architecture and customer adoption, and have exhibited proven success supporting customers evaluating and using Big Data tools, techniques, and technologies on AWS.
Key Players
The prominent players in the market of BDaaS are- IBM (U.S.), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Amazon Web Services (U.S.), Google (U.S.), SAP SE (Germany), Cazena (U.S.), Arcadia Data (U.S.), DataTorrent (U.S.), DataHero (U.S.) among others.
Big Data as a Service Global Market – Segmentation
The Big Data as a Service Market can be classified into 4 key segments for the convenience of the report and enhanced understanding;
- Segmentation by Service: Comprises HaaS, DaaS and AaaS.
- Segmentation by Deployment: Comprises On-Premises, On-Demand, Hybrid.
- Segmentation by Application: Comprises BFSI, Manufacturing, Retail, Healthcare, Media & Entertainment and Government among other.
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Big Data as a Service Global Market – Regional Analysis
The big global data as a service market is divided into four regions, namely North America, Asia Pacific Europe and the Middle East and Africa (MEA). North America is holding majority of the share in the big global data as a service market owing to the presence of establishes players such as Microsoft Corporation, Hewlett-Packard Enterprise Development LP, International Business Machines Corporation, etc. The big data as a service market in Asia Pacific is expected to grow at moderately high CAGR owing to increasing investments in various business sectors in the region which will require significant data to analyze.
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