Big Data as a Service (BDaaS) Market Size, Share & Segmentation by Deployment (Public Cloud, Private Cloud, and Hybrid Cloud), by Solution (Hadoop-as-a-Service, Data-as-a-Service, and Data Analytics-as-a-Service), by Enterprise Size (Small and Medium-sized business, and large enterprise), by End-Use (BFSI, Manufacturing, Retail, Media & Entertainment, Healthcare, IT & Telecommunication, Government, and Others), by Regions and Global Market Forecast 2023-2030

Report Scope & Overview:

The Big Data as a Service (BDaaS) Market size was valued at USD 25.51 Bn in 2022 and is expected to reach USD 243.30 Bn by 2030, and grow at a CAGR of 32.56% over the forecast period 2023-2030.

Big data as a service is the providing of statistical analysis information or tools by a third party. Big data as a service might take the shape of software or a contract for a data analysis team. Big data as a service is performed in order to assist enterprises in better comprehending and acquiring a better knowledge of the insights that may be gleaned from massive volumes of data in order to acquire a competitive advantage over rival firms.

A corporation often contains a big volume of unstructured as well as unfiltered data. Big data is simply a service that is intended to free up corporate resources by utilizing the analysis abilities of an external supplier to manage massive volumes of data rather than employing internal people. It is a combination of data-as-a-service, Hadoop-as-a-service, and data analytics-as-a-service. The increasing requirement for organizations to ensure high data quality and provide a channelized data flow has spurred the demand for technologically sophisticated big data solutions to acquire, store, analyze, display, and anticipate information obtained from massive data volumes.

Big data as a service is defined as the distribution of statistical analysis information from a third party or service provider to an enterprise in order to assist it to grasp the insights and gain a competitive edge. Big data as a service is frequently provided in a variety of forms, such as big data analytics software as a service or as a data fabric that incorporates data management and data aggregation. It may also be provided as a data platform service, which primarily focuses on analytical programming, as well as cloud infrastructure.

MARKET DYNAMICS:

KEY DRIVERS:

• Increasing Industry Demand for Actionable Big Data Insights.

• Data growth as a result of digitization and automation.

RESTRAINTS:

• The Difficulty of Extracting Valuable Insights from Massive Data Sources.

OPPORTUNITY:

• BdaaS Solutions to Improve Return on Investment and Decision-Making Capabilities.

• Growing Advancement of Cloud AI, Machine Learning, IoT, and Advanced Analytics to Increase Opportunities for BdaaS Vendors.

CHALLENGES:

• Concerns about security and privacy.

• Inadequate Knowledge of BdaaS Solutions and Professional Expertise.

IMPACT OF COVID-19:

Big data as a service sector is projected to expand more during the Covid-19 pandemic epidemic. The activities in the IT business are typically carried out through a 'work-from-home arrangement. As a result, the adoption of big data as a service in various application industries such as banking and finance, e-commerce, information technology, telecommunications, healthcare, and the government is proceeding regularly. The demand for big data as a service from industries such as industry and retail, on the other hand, has declined due to the operational halt imposed by all governments during the new coronavirus epidemic.

MARKET ESTIMATION:

The market for Big Data as a Service has been divided into three segments based on deployment: public cloud, private cloud, and hybrid cloud. The ability of users to readily store and manage massive and diverse datasets at cheap prices has contributed to the expansion of the public cloud market. Furthermore, the public cloud provides several benefits such as elasticity and agility, allowing enterprises to scale up or scale down their IT capabilities. The popularity of hybrid cloud computing is growing due to features such as cost-effectiveness, scalability, flexibility, and security. The hybrid cloud enables enterprises to shift workloads to the public cloud while keeping sensitive data on-premise.

The Hadoop-as-a-Service segment held a market share in 2021. The significant market share can be due to the growing number of businesses throughout the world that routinely access data stored in the cloud. Hadoop is an open-source software framework for storing and analyzing massive amounts of data in distributed computer systems. It also removes the requirement for consumers to build extra infrastructure on their premises. These benefits are projected to boost segment growth during the projection period. Data Analytics-as-a-Service is a service model that analyses data using analytics software and is supplied via web-based technologies. Many businesses are moving to cloud-based services to save the cost of developing, maintaining, and securing applications.

The Hadoop-as-a-Service segment held a market share in 2021. The significant market share can be due to the growing number of businesses throughout the world that routinely access data stored in the cloud. Hadoop is an open-source software framework for storing and analyzing massive amounts of data in distributed computer systems. It also removes the requirement for consumers to build extra infrastructure on their premises. These benefits are projected to boost segment growth during the projection period. Data Analytics-as-a-Service is a service model that analyses data using analytics software and is supplied via web-based technologies. Many businesses are moving to cloud-based services to save the cost of developing, maintaining, and securing applications.

The Big Data as a Service market has been divided into BSFI, manufacturing, retail, media & entertainment, healthcare, IT & communications, government, and others. The BFSI segment accounted for the largest market share in 2021. This expansion may be ascribed to increased regulatory scrutiny along with greater consumer satisfaction, which includes perks like fraud detection, risk management, and personalized solutions. Big Data as a Service aids in the resolution of issues such as fraud, which is a major concern in the banking business. Manufacturing is expected to increase at a rapid CAGR throughout the projected period. The IT & telecommunications market is expected to develop significantly due to rapidly changing business norms and an increased regulatory environment, which is reducing service margins in the telecom industry.

KEY MARKET SEGMENTS:

On The Basis of Deployment

• Public Cloud

• Private Cloud

• Hybrid Cloud

On The Basis of Solution 

• Hadoop-as-a-Service

• Data-as-a-Service

• Data Analytics-as-a-Service

On The Basis of Enterprise Size

• Small and Medium-sized business

• Large enterprise

On The Basis of End-Use 

• BFSI

• Manufacturing

• Retail

• Media & Entertainment

• Healthcare

• IT & Telecommunication

• Government

• Others

REGIONAL ANALYSIS:

North America dominates the big data as a service industry due to increased e-commerce growth and increased government funding to assist big data initiatives in this area. Over the forecast period, The United States is expected to dominate the regional and global Big Data as a Service market over the forecast period, as the majority of major vendors in the market are based in the country, and implementation of Big Data services is very high in the regional discrete manufacturing, banking, process manufacturing, professional services, and federal/central government sectors. The Asia-Pacific area is predicted to develop in the big data as a service industry due to an increase in smartphone and internet users, as well as increased usage of predictive modeling techniques.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

KEY PLAYERS:

The major key players are Accenture, Amazon web services, inc., Google LLC, Hewlett Packard enterprise development lp, international business machines corporation, Microsoft Corporation, Oracle Corporation, Sap SE, Sas institute inc., Teradata

Frequently Asked Questions (FAQ) :