Big Data as a Service BDaaS Market Size is forecasted to grow by 2032

Market Overview: As per a study by Persistence Market Research, from US$222.6 billion in 2022 to US$247.7 billion in 2032, the global BDaaS (Big Data as a Service) Market is predicted to grow at a 25.7% CAGR from 2023 to 2032. The combination of big data analytics technologies and cloud computing platforms has led to the development of Big Data as a Service or BDaaS. BDaaS offers analyses of large and complex datasets over the Internet or as cloud-hosted services.

The rise in the growth in data due to digitization and automation, and rise in the growth for demand in Industries to gain actionable insights from big data, which is driving the market demand for BDaaS. Moreover, the rising number of connected devices globally is one of the factors that is expected to fuel the market growth during the forecast period. End-user industries such as government, media & entertainment, retail, BFSI, and manufacturing are adopting connected devices for their business and manufacturing units.

Some other factors that are accelerating the growth of the BDaaS Market include the growing demand in industries, which will gain actionable insights and growing organizational data across industries due to digitalization and automation of business processes. Further, the growing demand of real-time data analytics is another factor that is fueling the market growth during the analysis period. In addition, increase in the adoption of predictive modeling tools, rise in the government initiatives supporting big data infrastructure, rise in the growth in data due to digitization and automation, and rise in the growth for demand in Industries to gain actionable insights from big data.

These factors are favoring the market growth over the analysis period.

Market Growth Factors: 1. Rising Volume of Big Data: o The exponential growth of data generated by businesses, social media, IoT devices, and other sources has created a need for scalable solutions to store, process, and analyze large volumes of data.

2. Cost-Effective Solutions:

BDaaS offers a cost-effective alternative to traditional on-premises big data infrastructure. Organizations can avoid significant upfront capital investments by leveraging cloud-based BDaaS solutions and paying for resources on a pay-as-you-go basis.

3. Scalability and Flexibility: o BDaaS platforms provide scalability and flexibility, allowing organizations to easily scale their infrastructure up or down based on the changing volume of data and analytical needs. This agility is particularly crucial in dynamic business environments.

4. Cloud Adoption: o The increasing adoption of cloud computing is a major driver for BDaaS. Cloud-based services enable businesses to harness the power of big data analytics without the need for extensive inhouse hardware and infrastructure.

5. Advanced Analytics and Insights: o BDaaS facilitates the implementation of advanced analytics, machine learning, and artificial intelligence algorithms, enabling organizations to derive meaningful insights and make data-driven decisions.

6. Globalization of Businesses: o As businesses expand globally, the need for centralized and accessible big data solutions becomes paramount. BDaaS, especially when deployed on cloud platforms, provides a centralized and easily accessible solution for organizations with a global footprint.

7. Data Security and Compliance: o BDaaS providers often invest heavily in security measures and compliance certifications, addressing concerns related to data security and regulatory compliance. This makes BDaaS an attractive option for organizations operating in regulated industries.

8. Focus on Core Competencies: o BDaaS allows organizations to focus on their core competencies while outsourcing the management of complex big data infrastructure to specialized service providers. This is particularly beneficial for smaller organizations with limited IT resources. o

9. Technological Advancements: o Continuous advancements in big data technologies, such as improved data processing frameworks, enhanced storage solutions, and more efficient analytics tools, contribute to the growth of the BDaaS market.

10. Increased Awareness and Education: o Growing awareness about the benefits of big data analytics and BDaaS solutions is driving increased adoption. As organizations better understand the potential impact of leveraging big data, they are more inclined to invest in BDaaS. 11. Internet of Things (IoT) Integration: o The proliferation of IoT devices has led to an explosion of data.

BDaaS platforms are well-suited to handle the diverse and large datasets generated by IoT devices, fostering the integration of IoT data into analytics workflows.

12. Cross-Industry Applications: o BDaaS has applications across various industries, including healthcare, finance, retail, and manufacturing. The versatility of BDaaS solutions makes them attractive to a wide range of businesses with diverse data needs.

13. Collaboration and Partnerships: o Collaboration between BDaaS providers, cloud service providers, and industry-specific solution providers contributes to the development of comprehensive and integrated solutions that meet the evolving needs of organizations.

The Big Data as a Service (BDaaS) market is witnessing significant growth, driven by a variety of factors that reflect the increasing adoption of big data analytics and the demand for scalable, flexible, and cost-effective solutions.

Here are some key growth factors influencing the BDaaS market Report Overview:https://www.persistencemarketresearch.com/marketresearch/big-data-as-a-service-bdaas-market.asp Key Takeaways:



On the basis of Component, the solutions category from the BDaaS market is expected to grow at the fastest CAGR of 25.0% during the forecast period.



Public Cloud is expected to grow at a high rate in the deployment sector of the BDaaS market, with a CAGR of 25.0% during the forecast period.

The BDaaS market for the US is expected to be worth US$ 88.4 billion by 2032, with a CAGR of 25.5% over the forecast period.

The market size for BDaaS in China is expected to reach US $17.8 billion by 2032, growing at a CAGR of 25.0% during the research period.

UK is expected to reach a market size of US$ 10.2 billion in the BDaaS market by 2032, with a CAGR of 24.2% during the research period.

Japan is expected to have a market size for BDaaS of US$ 14.4 billion by 2032, with a CAGR of 23.8% during the research period.

   



By 2032, South Korea is expected to reach a market size of US$ 9 billion in the BDaaS market, with a CAGR of 23.0% during the research period.

Competitive Landscape:          

Google Microsoft Amazon Web Services IBM Oracle SAP Teradata SAS Dell Technologies Hewlett Packard Enterprise

Major players such as IBM Corporation, Hewlett Packard Enterprise, and Oracle Corporation are expected to dominate the market share in terms of revenue.

This domination is owing to the rising investment for developing advanced BDaaS to cater to industries such as manufacturing, BFSI, healthcare, and others.



In November 2020, Snowflake Inc. extends its data cloud capabilities by launching advanced big data services equipped with features such as Snowpark (big data service), unstructured data such as audio, video, pdfs, row access policies, and others.



In November 2019, Google Cloud collaborated with Deloitte Touché Tohmatsu Limited to offer advanced cloud computing solutions and services to create significant opportunities for big data applications.

In October 2018, IBM announced the decision to acquire Red Hat Inc. for USD 34 billion. By this acquisition, IBM became the world’s number one hybrid cloud provider, offering companies the only open cloud solution that may unlock the full value of the cloud for their businesses.



Find More Valuable Insights on BDaaS Market Persistence Market Research puts forward an unbiased analysis of the global BDaaS market, providing historical demand data (2015-2021) and forecast statistics for the period of 2022-2032.

To understand the opportunities in Big Data as a Service, the market is segmented on the basis of component, deployment type, organization size, and vertical across five major regions.    



By Component (Solutions- Hadoop as a Service (HDaaS), Data Analytics as a Service (DAaaS), Services)

By Deployment Type ( Public Cloud, Hybrid Cloud, Private Cloud)

By Organization Size (Large Enterprises, SMEs)

By Vertical (BFSI, Information Technology (IT) and Telecom, Healthcare and Life Sciences, eCommerce and Retail, Manufacturing, Media and Entertainment, Others)

By Region( North America, Europe, Asia Pacific, Middle East and Africa, Latin America)

Market Segments:

By Component





Solutions o Hadoop as a Service (HDaaS) o Data Analytics as a Service (DAaaS) o Others Services

By Deployment Type   

Public Cloud Hybrid Cloud Private Cloud

By Organization Size  

Large Enterprises SMEs

By Vertical       

BFSI Information Technology (IT) and Telecom Healthcare and Life Sciences eCommerce and Retail Manufacturing Media and Entertainment Others

By Region     

North America Europe Asia Pacific Middle East and Africa Latin America

Our Reports: E-Cigarette Market

Fiber Optic Connectors Market About Persistence Market Research: Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.

Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.

Contact Persistence Market Research Teerth Technospace, Unit B-704 Survey Number – 103, Baner Mumbai Bangalore Highway Pune 411045 India Email: sales@persistencemarketresearch.com Web: https://www.persistencemarketresearch.com LinkedIn | Twitter