Industry Background:
Big data as a service (BDaaS) refers to the delivery of statistical tool for analyzing data by a third party provider which helps organizations to understand insights of the large volume of data. The demand for predictive analysis and data science is growing which drives the big global big data as a service market. Increasing demand for big data as services from the BFSI sector to streamline payment delivery process. For instance, According to a World Bank report in 2017, approximately USD 613 billion worth of financial transactions were processed across international lines this is expected to boost the demand for big data as a service market. Further, technological advancement in Incorporation of Cloud Computing and Big Data analytics solution and increasing demand from small and medium enterprises boosting the demand for big data as a service market.This growth is primarily driven by Increasing Demand of Real Time Data Analytics Solutions
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Internet Software & Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Amazon Web Services, Inc. (United States), Google Incorporation (United States), Hewlett-Packard (United States), IBM Corporation (United States), Teradata Corporation (United States), Microsoft Corporation (United States), Oracle Corporation (United States), SAP SE (Germany), SAS Institute Inc. (United States) and EMC Corporation (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Regulatory Insights:
“In May 25, 2018 the European Union’s General Data Protection Regulation (GDPR) went into effect replacing the 1995 Data Protective Directive (DPD). This new law affects the E.U. and countries in the European Economic Area (EEA), and creates a new regulation for privacy in the digital age (Because of Brexit the United Kingdom has a separate Data Protection Act 2018 that mirrors the rules in the GDPR). The law has far reaching effects because it not only affects organizations within the E.U., but also applies to organizations offering goods or services to people residing in the E.U. However, the law has limitations. The data regulated by the GDPR is only that pertaining to individuals; it does not apply to data about organizations. In addition, the GDPR would not apply to an organization that did not directly target people in the European Union (European Union, 2018).”
Influencing Trend:
Integration of Cloud Computing and Big Data, Massive Growth of Data and Emphasizing On Modernizing Management Approaches and Business Models
Market Growth Drivers:
Increasing Demand of Real Time Data Analytics Solutions, Growing Use of Big Data in Identifying Fraudulent Activities and Huge Data Influx in Small and Medium Enterprises Leading To Need For Effective Data Analytics Tools to Maximize Revenue
Challenges:
Lack of Effective Strategy Regarding Big Data Application among Enterprises and Complexity Involved in Analyzing Heterogeneous Data
Restraints:
Security and Privacy Threats Associated to Big Data Services and Lack of Skilled Professionals to Adopt New Technology
Opportunities:
Rising Demand for Data Warehousing and Advanced Analytics Solutions, Increasing Adoption of Big Data Services In Small and Medium Enterprises and Growing Investment in IT Industry in Emerging Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Big Data As A Service Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Big Data As A Service Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Big Data As A Service players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Big Data As A Service Study Sheds Light on
The Big Data As A Service Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Big Data As A Service industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Big Data As A Service industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.