DUBLIN, Feb. 6, 2020 — (PRNewswire) — The "BDaaS Market by Component (Solutions and Services), Organization Size, Deployment Type, Industry Vertical (BFSI, IT and Telecom, Healthcare and Life Sciences, eCommerce and Retail, and Manufacturing), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global BDaaS market is projected to grow from US$11.3 billion in 2019 to US$42.7 billion by 2024, rising at a CAGR of 30.5%.
The BDaaS market revenue is primarily classified into revenues from solutions and services. The market is also segmented on the basis of deployment type, organization size, industry vertical, and region.
The BDaaS market comprises of major solution providers, such as IBM (US), Oracle (US), Microsoft (US), Google (US), AWS (US), SAP (Germany), Teradata (US), SAS (US), Dell Technologies (US), HPE (US), CenturyLink (US), Splunk (US), Cloudera (US), Salesforce (US), Qubole (US), GoodData (US), Hitachi Vantara (US), IRI (US), 1010data (US), and Guavus (US). The study includes in-depth competitive analysis of these key players, with their company profiles, recent developments, and key market strategies.
Growing demand in industries to gain actionable insights from big data and enormous growth of data due to digitization and automation across industries, to drive the adoption of BDaaS solutions
The BDaaS industry is growing rapidly owing to factors, such as growing demand in industries to gain actionable insights from big data and the enormous growth of data due to digitization and automation across industries. However, complexities in extracting valuable insights out of humongous data sources are expected to limit the growth of the market.
Hybrid cloud deployment type to grow at the highest CAGR during the forecast period
As organizations are facing a tremendous growth of unstructured data, the requirement for data analysis is gaining traction among industry verticals. This data repository is a mix of active and frequently used data or inactive and less frequently used data. The hybrid cloud deployment type combines the benefits of both public and private cloud, which helps organizations analyze inactive data over the public cloud and active and sensitive business data through a more secure private cloud.
Banking, Financial Services and Insurance industry vertical to hold the highest market share in 2019
The Banking, Financial Services and Insurance (BFSI) industry vertical leverage the power of big data analytics to face challenges, such as strict banking regulations and reduced interest rates. There is a huge amount of data which is collected by the industry and can be used to generate revenue. Hence, the BFSI industry vertical is one of the largest adopters of BDaaS technologies, especially Hadoop.
With the help of advanced technologies used in BDaaS solutions, the BFSI industry can enhance its customer experience, enterprise information management; enterprise performance management; and Governance, Risk and Compliance (GRC) services. The industry is gaining significant benefits by deploying cloud-based big data analytics solutions due to the improvement of the business processes by centralized processing of financial data. The banking industry has huge volumes of customer data. Hence, the industry is deploying BDaaS solutions to extract valuable insights from these assets to enhance the overall customer experience.
Asia Pacific to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is expected to experience significant growth opportunities during the forecast period. With the increasing adoption of cloud technologies, digitalization, and automation of business processes, the adoption of BDaaS solutions in APAC is significantly increasing. A rapid change in enterprise requirements due to this digitalization and automation of business processes is one of the factors driving the growth of the BDaaS market in this region.
APAC further demonstrates a combination of high growth rate, developing economies, and the mass adoption of mobile and the internet, thereby boosting the adoption of BDaaS solutions. The region has a large customer base and a significant presence of Small and Medium-sized Enterprises (SMEs). The increasing adoption of cloud-based big data analytics solutions among SMEs is expected to be the major factor driving the growth of the BDaaS market in the region.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Big Data as a Service Market
4.2 North America: Market, By Industry Vertical and Country
4.3 BDaaS Market: Major Regions
5 Market Overview
5.2 Market Dynamics
22.214.171.124 Growing Demand in Industries to Gain Actionable Insights from Big Data
126.96.36.199 Growth in Data Due to Digitization and Automation
188.8.131.52 Complexity in Extracting Valuable Insights Out of Humongous Data Source
184.108.40.206 BDaaS Solutions to Enhance RoI and Decision-Making Capabilities
220.127.116.11 Rapid Advancement of Cloud AI, ML, IoT, and Advanced Analytics to Boost Opportunities for BDaaS Vendors
18.104.22.168 Security and Privacy Concerns
22.214.171.124 Lack of Awareness of Bdaas Solutions and Professional Expertise
6 Big Data as a Service Market, By Component
6.2.1 Hadoop as a Service
6.2.2 Data Analytics as a Service
7 Big Data as a Service Market, By Organization Size
7.2 Large Enterprises
7.3 Small and Medium-Sized Enterprises
8 Big Data as a Service Market, By Deployment Type
8.2 Public Cloud
8.3 Hybrid Cloud
8.4 Private Cloud
9 Big Data as a Service Market, By Industry Vertical
9.2 Banking, Financial Services, and Insurance
9.3 IT and Telecom
9.4 Healthcare and Life Sciences
9.5 Ecommerce and Retail
9.7 Media and Entertainment
10 Big Data as a Service Market, By Region
10.2 North America
10.5 Latin America
10.6 Middle East & Africa
11 Competitive Landscape
11.2 Competitive Leadership Mapping
11.2.1 Visionary Leaders
11.2.2 Dynamic Differentiators
11.2.4 Emerging Companies
12 Company Profiles
12.4 Amazon Web Services
12.10 Dell Technologies
12.11 Hewlett Packard Enterprise
12.17 Hitachi Vantara
12.22 Right to Win
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SOURCE Research and Markets
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