Global Big Data as a Service Market, BDaaS Market Research and Industry Forecast Report 2019-2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Global Big Data as a Service Market


The global Big Data as a Service market size was valued at USD 5,356.8 million in 2018 and is expected to register a CAGR of 38.7% from 2019 to 2025. The growing need among organizations for efficiently processing, storing, and managing large datasets has led to the emergence of cloud-enabled big data analytics technologies, thereby driving BDaaS market growth. Big Data as a Service offers analysis of large and complex datasets over the Internet or as a hosted service. It is equipped with statistical analytical tools that allow users to gain insights from these datasets. The increased use of social media analytics is also contributing to the increased demand for BDaaS.

BDaaS, which is a combination of big data analytics technologies and cloud computing platforms, helps users to reduce the cost and time for the deployment of big data projects. Moreover, it enables organizations to manage big data on the cloud and allows all departments to easily access data at any given time. Besides, organizations incur substantial costs in terms of building big data infrastructure and recruiting skilled human resources. However, with the deployment of cloud-enabled big data technology, this cost has substantially reduced.

In developing economies, the demand for Big Data as a Service is primarily driven by the increasing need for structured data for carrying out analysis and deriving meaningful insights. Moreover, the rising use of Internet and social media has led to the generation of big data, making it challenging for sectors such as banking, automobile, and retail to manage data. BDaaS has emerged as the primary data source for retail organizations, through which they get immediate feedback about their products and services. It also helps them to provide customized products and services to fit the individual preferences of consumers.

The increasing adoption of Data Driven Decision Making (DDDM) has helped organizations in making informed decisions with transparency and accountability. Data driven decision making offers numerous benefits such as association mining and clustering datasets over conventional technologies. Furthermore, it offers increased capacity to scale changes as well as flexibility in modeling change scenario. This, in turn, is significantly boosting the offerings of BDaaS.

Deployment Insights of Global Big Data as a Service Market

Based on deployment, the market for Big Data as a Service has been categorized into public cloud, private cloud, and hybrid cloud. The growth of the public cloud segment can be attributed to the ability of users to easily store and manage large and varied datasets at low costs. In addition, public cloud offers various benefits such as elasticity and agility, which helps organizations to scale up or scale down their IT capabilities. The demand for hybrid cloud is particularly increasing owing to benefits such as cost efficiency, scalability, flexibility, and security. Hybrid cloud helps organizations to move their workloads to public cloud and keep sensitive data on premise.

In addition, access to all areas of the hybrid cloud environment is managed and controlled for ensuring big data security. For instance, Microsoft Azure offers hybrid cloud solutions, including networking, applications, security, and management capabilities. Networking helps in reducing latency with quick hybrid connectivity through Azure ExpressRoute at bandwidths up to 100 Gbps. Moreover, it improves security operations and automation with built-in Artificial Learning (AI) using Azure Sentinel.

Solution Insights of Global Big Data as a Service Market

In 2018, the Hadoop-as-a-Service segment accounted for a market share of approximately 20%. The large market share can be attributed to the rising number of companies across the globe frequently accessing data stored on cloud. Hadoop is an open-source software framework that enables users to store and analyze large volumes of data in distributed computing environments. Additionally, it eliminates the need for users to install additional infrastructure on premises. These advantages are expected to further drive the segment growth over the forecast period.

Data Analytics-as-a-Service (DAaaS) is a service model that uses analytics software to analyze data and is delivered using web-based technologies. In addition, DAaaS is also considered as a low-cost alternative for small & medium businesses. Meanwhile, the Data-as-a-Service segment is expected to grow owing to the increased adoption of cloud-based services in enterprises. Many enterprises are shifting toward cloud-based services to reduce the cost of building, running, and protecting applications. These factors are anticipated to boost the demand for DAaaS over the forecast period.

Enterprise Size Insights

Based on enterprise size, the market for Big Data as a Service has been categorized into small and medium-sized business and large enterprise. The large enterprise segment accounted for the largest market share in 2018. This can be attributed to the rapidly increasing number of datasets coupled with various handling solutions such as data warehousing, data transformation, data migration, and data hub. Moreover, the growing involvement of banking and financial institutions to design, develop, and support Extraction, Transformation, and Loading (ETL) for their large datasets is anticipated to propel the market growth in the near future.

The small and medium-sized business segment captured nearly 25% of the total market share in 2018. In addition, the segment is anticipated to witness the fastest growth over the forecast period. This can be attributed to the rapidly growing adoption of big data-enabled cloud services by small and medium-sized businesses across various industries. The increased availability of accessible, low-priced data centers delivered by cloud vendors has led to a decrease in the cost of upfront investment for small businesses, which, in turn, has reduced the barrier for new entrants in the Big Data as a Service market.

End-Use Insights

Based on end uses, the market for Big Data as a Service has been segmented into BSFI, manufacturing, retail, media & entertainment, healthcare, IT & telecommunication, government and others. The BFSI segment accounted for the largest market share in 2018. This growth can be attributed to the increasing regulatory scrutiny combined with improved customer satisfaction, including benefits such as fraud detection, risk management, and customized solutions. Big Data as a Service helps address issues such as fraud, which is a primary concern in the banking industry.

BDaaS also finds wide applications in the manufacturing sector owing to benefits such as defect detection, improved quality & supply planning, and mass-customization. Thus, the manufacturing segment is anticipated to grow at a high CAGR over the forecast period. The IT & telecommunication segment is anticipated to grow at a considerable rate owing to the rapidly changing business rules and intensified regulatory environment leading to eroding service margins in the telecom industry. Telecom operators generate a real-time view of customer preferences and network efficiency through advanced analytics on customer and network data. This helps them to make improved real-time and fact-based decisions.

Regional Insights of Global Big Data as a Service Market

Based on region, the market for Big Data as a Service has been segmented into North America, Europe, APAC, Latin America, and MEA. In 2018, the North American market held a revenue share of nearly 35% owing to the rising growth in e-commerce coupled with increasing government funding to support big data projects in the U.S. Moreover, the adoption of Big Data as a Service is increasing in the regional discrete manufacturing, professional services, banking, and federal/central government sectors. The North American market is expected to be dominated by the U.S. as major vendors operating in the market are U.S.-based.

The APAC region is also anticipated to witness significant growth over the projected period owing to the increasing number of smartphone and internet users, which leads to the generation of big data. Furthermore, both startups and established companies in APAC are opting for Big Data as a Service to bring diversification in their business solutions. Service providers such as SAP and IBM offer BDaaS to banks operating in APAC. Some of the core benefits of these services include real-time monitoring and big cloud services for easier retrieval of data to improve workflows. China and India are the largest contributors to the BDaaS market in APAC and accounted for a large share in 2018.

Big Data as a Service Market Share Insights

Some of the key companies operating in the BDaaS market include Amazon.com, Inc., International Business Machines (IBM) Corporation, SAP SE, Oracle Corporation, Google LLC, Microsoft Corporation, Dell Inc., Cloudera, Inc., Accenture plc, and Teradata Corporation. Service providers are focusing on collaborating with banks to increase their regional presence. For instance, in April 2019, IBM Corporation announced an agreement with Japan-based Fukui Bank. The partnership was aimed at migrating Fukui Bank€™s mission-critical workloads to IBM Cloud, enabling the bank to support the native community development initiative. Furthermore, the agreement will help banks to reduce migration time and costs.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global Big Data as a Service Market Research Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global Big Data as a Service market report on the basis of deployment, solution, enterprise size, end use, and region:

Deployment Outlook (Revenue, USD Million, 2019 - 2030)

  
Public Cloud
  
Private Cloud
  
Hybrid Cloud

Solution Outlook (Revenue, USD Million, 2019 - 2030)

  
Hadoop-as-a-Service
  
Data-as-a-Service
  
Data Analytics-as-a-Service

Enterprise Size Outlook (Revenue, USD Million, 2019 - 2030)

  
Small and Medium-sized business
  
Large enterprise

End Use Outlook (Revenue, USD Million, 2019 - 2030)

  
BFSI
  
Manufacturing
  
Retail
  
Media & Entertainment
  
Healthcare
  
IT & Telecommunication
  
Government
  
Others