Data as a Service Market Highlights:
Data as a service (DaaS) relies on the cloud to ensure data storage, data integration, data processing, and delivery of applications over a network. The accumulation of large volumes of data and the preference of cloud for storage of information has brought the service to the forefront. The global data as a service (DaaS) market report by Market Research Future (MRFR) contains an overview of the industry, its benefits in various industries, and its prospects for the period of 2018 to 2023 (forecast period). The impact of the virus on the market has been explored.
The Data as a Service Market is expected to grow at a CAGR of 39% and reach a size of USD 12 billion by the end of 2023.
The shift to cloud for building applications and scaling them at low costs is one of the primary drivers of the market. DaaS provides information to customers irrespective of geographical location or separation of provider and consumer. Companies have managed to maintain the integrity of their data and improve agility of workloads owing to dependence on analytics and management and storage of pertinent data.
Adoption of big data analytics and cloud services in enterprises for storage and maintenance of data can bode well for the market. Initiatives of Bring Your Own Devices (BYOD) and enterprise mobility can drive the market forward. The decision of enterprises of providing users control over their data on a cloud can reduce data access times and enhance data processing. The market faces challenges from cybersecurity issues and a paucity of skilled personnel for maintaining huge data volumes.
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IBM Corporation, Oracle Corporation, Mastercard Advisors LLC, Microsoft Corporation, Fair Isaac Corporation, LexisNexis Corporation, Google Inc., LinkedIn Corporation, Salesforce.com, Inc., Facebook, Inc., Bloomberg Finance L.P., and Alibaba Group Holding Limited are major providers in the global DaaS market.
The factors responsible for driving the market are the increasing adoption of big data analytics across various industry verticals and the increasing demand for real-time data analytics. In addition, the industry is also driven by the increased adoption of cloud-based services in enterprises. Initiatives like Bring Your Own Device (BYOD) and Enterprise Mobility are critical opportunities in the data as a service (DaaS) industry. The industry also faces a variety of obstacles, including data theft and cyber-attacks, and a lack of technological knowledge in data as a service (DaaS) that could potentially impede the market growth.
Cloudera has extended its Altus Data Science platform as a service offering to the Azure cloud. This development will preserve business metadata and security and governance policies so that they can be implemented through data processing and data analytics workloads in the cloud.
The global data as a service market has been segmented into deployment, organization size, end-user, pricing model, solution, and professional services.
- By deployment, the globaldata as a service market has been segmented into public cloud, private cloud, and hybrid cloud.
- By organization size, the globaldata as a service market has been segmented into small and medium enterprises and large enterprises.
- By the end-user, the globaldata as a service market has been segmented into BFSI, healthcare, retail, manufacturing, media & entertainment, transportation, IT & telecom, and others.
- By pricing model, the globaldata as a service market has been segmented into volume-based pricing model and data type-based pricing model. The volume-based pricing model includes quantity-based pricing and pay per use pricing.
- By solution, the globaldata as a service market has been segmented into disaster recovery and backup solutions, test data management, data warehousing, data migration, and others.
- By professional services, the globaldata as a service market has been segmented into implementation & deployment, support & maintenance, and consulting.
The geographical analysis of the global data as a service market is studied for North America, Europe, Asia Pacific, and the rest of the world.
North America is expected to lead the data as a service (DaaS) market during the forecast period. North America has a large amount of unstructured data gathering due to the digital revolution in the commercial and industrial sectors. Furthermore, the early adoption of cloud-based deployment services in North America has made it easier for industrial verticals to opt for big data analytics to re-structure business functions and strategies.
With rapid advances in data as a service, Asia Pacific is expected to expand at a significant pace during the forecast period. With the growing acceptance of cloud-based services and tremendous opportunities across companies in Asia Pacific countries, there is greater scope for advancement in the data as a service (DaaS) market.
Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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List of Tables
Table1 World Population by Major Regions (2018 To 2023)
Table2 Global Data as a Service Market: By Country, 2018-2023
Table3 North America Data as a Service Market: By Country, 2018-2023
List of Figures
Figure 1 Global Data as a Service Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of Global Data as a Service Market
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