Big Data as a Service Market – Business Growth, Industry Segments, Outlook of Top Companies like Arcadia Data, Cazena, DataTorrent, DataHero, Teradata Corporation and Others
Big data as a service (BDaaS) is a statistical tool used for delivering information by an outside provider. Due to BDaaS, organizations can understand and gain insights from a large set of information. As a market, this service is growing due to various factors including demand for data science and predictive analysis and increasing requirement of structured data for analysis. Structured data aids the growth of organizations by making it faster and helps them to achieve their targets. Increase in the amount of data makes data analysis time consuming and quick analysis is always required for speedy accomplishments of tasks and fulfillment of other organizational requirements. Demand for predictive analysis and data science is also expected to drive the market growth. The competitive analysis of BDaaS comprises of many large vendors. Platforms like Watson Data Platform include features for data scientists and researchers that are helpful for data cataloging and data refining. This helps higher authorities in an enterprise to analyze and prepare artificial intelligence (AI) related applications that not only improve the data visibility, but also make private data more secure.
Market Research Future (MRFR) has published a research report about the big data as a global server market. This report analyzes and forecasts the huge growth in this market during the forecast period between 2016 and 2022. The findings of this report say that the field-programmable gate array (FPGA) is booming and in the whole BDaaS market, it is expected to gain prominence over the forecast period.
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According to this report, the proliferation of several real-time information from sources that go beyond log files, mobile devices, and social media have played a vital role in the growth of the BDaaS market. The restraints that hamper the growth of BDaaS global market are challenges associated with privacy. However, demand across different business verticals and investment made by prominent market players in research and development are expected to create greater opportunities.
The BDaaS global market has been segmented on the basis of deployment, industry, organizational size, services, and lastly region. On the basis of deployment, this market has been segmented into on-cloud, on-premise, and hybrid. On-cloud computing is defined as information hosted on a cloud server. On-premises is the software and technology located within the physical confines of an enterprise. A hybrid cloud is a cloud computing environment that combines a public cloud and a private cloud by allowing data and applications to be shared between them.
The industry-based segmentation of this market comprises of banking, financial services & insurance (BFSI), government, healthcare, manufacturing, media & entertainment, retail, and others. Over the past few years, social media has emerged as a primary data source for most retail organizations. This is because social media enables them to obtain instant feedback about their products and services through blogs and social networking applications and websites. A rapid increase in the number of social media websites has created an augmented demand to track user interactions here. Due to the rising importance of sentiment analysis and advances in text analysis, organizations have integrated social media into their business process. This has resulted in a huge amount of data stored by an enterprise. The stored data will impel the growth prospects of the BDaaS global market over the forecast period. BFSI keep their client data, financial information on cloud servers. Healthcare uses data servers to save medical reports and medical histories of many patients. Entertainment media uses data servers to host content for web series.
On the basis of organizational size, the BDaaS market is segmented into the small enterprises, medium enterprises, and large enterprises. Service-based segmentation of market comprises of Analytics as a Service (AaaS), Data as a Service (DaaS) and Hadoop as a Service (HaaS). AaaS is a provision of solutions based on analytics software and operations through web-delivered technologies that offer businesses an alternative to develop internal hardware setups and perform business analytics. DaaS is an information provision and distribution model in which data files (including text, images, sounds, and videos) are made available to customers over a network. HaaS is a big data analytics framework that stores and analyzes data in the cloud using Hadoop.
The regional segmentation of BDaaS global market segments this market into regions namely North America, Europe, Asia Pacific and rest of the world (RoW). Due to the high-speed internet being the basic requirement for any kind of BDaaS, North America is the biggest market for BDaaS with the United States of America (USA) being the greatest market in the continent. As big markets for BDaaS, Canada, and Mexico. Higher adoption of BDaaS across various industrial segments contributes towards the growth of this market in North America. In Europe, BDaaS market is set to rise significantly with increased application in IT & telecommunication sector. After North America, Europe is the biggest market for BDaaS, and the biggest markets here include France, Germany, and the United Kingdom (UK). More than 60% of key players in BDaaS global market are based in North America.
In the Asia Pacific, internet and cloud infrastructure facilities are still at a developing stage. However, due to high population, labor for IT industry is cheap here (especially in India). Therefore, demand for BDaaS is the high Asia Pacific is high, and it remains a lucrative market for BDaaS. Maximum revenue from Asia Pacific market comes from China, India, and Japan, with rest of Asia Pacific countries following the lead of these three countries. RoW countries for BDaaS market are in Africa, Middle East, and South America. Due to poverty, poor IT infrastructure, and limited internet availability, BDaaS market is small here, and its slow but steady growth is expected during the forecast period.
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The key players in BDaaS global market include Amazon Web Services (USA), Arcadia Data (USA), Cazena (USA), DataTorrent (USA), DataHero (USA), Google (USA), Hewlett-Packard (HP) (USA), IBM (USA), Microsoft Corporation (USA), Oracle Corporation (USA), SAP SE (Germany), SAS Institute (USA), and Teradata Corporation (USA).
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