The creation and consumption of data continues to grow by leaps and bounds and with it the investment in big data analytics hardware, software, and services and in data scientists and their continuing education.
Big Data as a Service Market – Synopsis
The availability of very large data sets is one of the reasons Deep Learning, a sub-set of artificial intelligence (AI), has recently emerged as the hottest tech trend, with very deep pockets, investing in acquiring talent and releasing open AI hardware and software.
The increasing interest and investment in AI, in turn, will lead to the emergence of new tools for collecting and analyzing data and new enterprise roles and responsibilities.
- In April 2016, Arcadia Data announced the new on cluster security solution for Hadoop an open source software framework.
- In December 2015, DataTorrent and Solace announced the partnership to enable the real-time ingestion and analysis big data.
BDaaS Market Players
Numerous well-Established Key Players adorn the global big data as a service market as highly competitive and fragmented. Key Players adopt aggressive marketing strategies such as Innovation, mergers & acquisitions, and brand reinforcement.
Players having global presence are continuously launching products and services in developing economies to take advantage of the economic growth in these regions.
- IBM (U.S.)
- Oracle Corporation (U.S.)
- Microsoft Corporation (U.S.)
- Amazon Web Services (U.S.)
- Google (U.S.)
- SAP SE (Germany)
- Cazena (U.S.)
- Arcadia Data (U.S.)
- DataTorrent (U.S.)
- DataHero (U.S.)
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Big Data as a Service Market Segmentation
The BDaaS market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Services: Comprising HaaS, DaaS and AaaS.
Segmentation by Deployment: Comprising On-Premises, On-Demand, Hybrid.
Segmentation by Application: Comprising BFSI, Manufacturing, Retail, Healthcare, Media & Entertainment, Government among other.
Big Data as a Service Market Overview
Big Data as a service (BDaaS) is a statistical tool which delivers the information by an outside provider. This helps the organization to understand and gain insights from large information set.
As technology is growing, market of big data as a service have grown substantially.
Need of data analysis for competitive advantage is driving the market; According to a recent study report published by the Market Research Future, the global Big Data as a service Market is forecasted for an Enormous growth in terms of value that with a striking rate of CAGR; will surpass its previous growth records by the end of the forecasted period (2016 – 2022).
Predictive modeling tools, accompanied with interactive visualization and automation has been growing tremendously. These tools support in accelerating the methods of developing, ascertaining and analyzing predictive models that are used by financial institutions for conducting operations such as customer analytics, product innovation, risk reporting, and threat management.
Moreover, organizations are streamlining their sales pipelines from lead generation to customer base resulting in the generation of large volumes of customer data. With an increasing number of industries such as retail, banking, insurance, and financial services adopting big data solutions, this market has a positive outlook in the coming years.
The emergence of social media analytics is the major market driving factor for the growth of Big Data as a Service Market. A rapid increase in the number of social media sites has shaped up an upsurge demand to track user interactions on these sites.
Moreover, the increasing importance of sentiment analysis and advances in text analysis has prompted organizations to integrate social media into their business process. This has resulted in huge amount of data stored by an enterprise, which will, in turn, impel the growth prospects of the big data as a service market over the predicted period.
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Big Data as a Service Market – Regional Analysis
North America is dominating the Big Data as a Service market with the largest market share. Technological advantage to the North America countries are some of the key driver and in the year 2015, the market of BDaaS has been valued at astronomical amounts, closely followed by Europe.
Currently, Europe is accounting for substantial market revenue and has been valued at over multibillion USD which is expected to grow further by the end of forecasted period. Asia-Pacific is emerging in the market of BDaaS and currently holds third place in the global market.
APAC BDaaS market has been valued considerably which is expected to reach to astronomical amounts by the end of forecasted period.
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