Big Data as a Service Market Overview
The big data as a service market is growing rapidly due to the increasing demand for big data analytics and the rising availability of cloud computing platforms. BDaaS provides businesses with the ability to access big data analytics capabilities without having to invest in and manage their own infrastructure. This is a major driver of the market growth.
The global BDaaS market is expected to reach USD 80.5 billion by 2030, growing at a CAGR of 23.17% from 2022 to 2030.
Key Companies in the Big Data as a Service Market
The major players in the big data as a service industry are:
- Amazon Web Services (AWS)
- Microsoft Azure
- Google Cloud Platform (GCP)
- IBM
- SAP
- Oracle
- Cisco Systems
- Hewlett Packard Enterprise (HPE)
- Dell EMC
- Teradata
- SAS Institute
These companies offer a wide range of big data as a service solution, including data storage, data processing, data analytics, and data visualization.
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Market Segmentation
The BDaaS market is segmented by:
- Component: Solutions and services
- Organization size: Small and medium-sized businesses (SMBs) and large enterprises
- Deployment type: On-premises and cloud-based
- Industry vertical: BFSI, IT and telecom, healthcare and life sciences, retail and e-commerce, manufacturing, media and entertainment, and others
Top Impacting Factors
The following are the top impacting factors of the BDaaS market:
- Increasing demand for big data analytics
- Rising availability of cloud computing platforms
- Growing adoption of IoT
- Increasing government regulations
- Declining cost of big data storage and processing
- Growing need for real-time data analytics
Regional Insights
The North American region is the leading market for big data as a service, followed by Europe and Asia Pacific. The growth of the market in North America is attributed to the increasing adoption of big data analytics in the BFSI, healthcare, and IT and telecom industries. The growth of the market in Europe is attributed to the increasing adoption of big data analytics in the retail and e-commerce industries. The growth of the market in Asia Pacific is attributed to the growing adoption of big data analytics in the manufacturing and media and entertainment industries.
Industry Latest News
- In June 2023, Amazon Web Services (AWS) announced the launch of Amazon SageMaker Data Wrangler, a new tool that helps businesses prepare data for machine learning.
- In May 2023, Microsoft Azure announced the launch of Azure Data Factory, a new tool that helps businesses build and manage data pipelines.
- In April 2023, Google Cloud Platform (GCP) announced the launch of Google Cloud Dataproc, a new service that helps businesses process big data.
