VANCOUVER – The global big data as a service (BDaaS) market size reached USD 14.88 Billion in 2020 and is expected to register a CAGR of 31.2% during the forecast period, according to latest analysis by Emergen Research. Rising demand for implementable big data insights is expected to drive global big data as a service (BDaaS) market revenue growth. Rising demand for better data storage scalability is also expected to boost global big data as a service market growth over the forecast period. Rising data volumes due to the increasing trend of automation and digitization is expected to further augment market growth going ahead.
However, concerns regarding data privacy and security are expected to hamper global BDaaS market growth to some extent during the forecast period.
Some Key Highlights From the Report
- Increasing adoption of data analytics-as-a-service solution among small and medium enterprises is driving revenue growth of the data analytics-as-a-service segment, which is expected to register a significantly rapid CAGR over the forecast period.
- The hybrid cloud segment is expected to register significant revenue growth over the forecast period due to increasing adoption of hybrid cloud-based big data as a service solution among end-users.
- The IT & telecom segment is expected to register significant revenue growth over the forecast period due to increasing implementation of big data as a service (BDaaS) solution across the IT & telecom industry to make better fact-based and real-time decisions.
- Asia Pacific is expected to register fastest revenue growth rate during the forecast period due to growing number of smartphone and Internet users, which results in generation of big data, which are some key factors driving growth of the market in the region.
- Key players in the market include International Business Machines Corporation, Oracle Corporation, Accenture plc, Hewlett Packard Enterprise, Google LLC, Cloudera, Inc., Teradata Corporation, Dell Technologies Inc., CenturyLink, Inc., SAP SE
- In March 2021, fable+ GmbH was acquired by Accenture plc. Through this acquisition, Accenture will strengthen its analytics-driven transformation as well as workplace culture capabilities.
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. They offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
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