Big data as a service Market Statistics: 2026
The global big data as a service market was valued at $4.99 billion in 2018, and is projected to reach $61.42 billion by 2026, registering a CAGR of 36.9% from 2019 to 2026. Big Data as a Service (BDaaS) is a cloud-based framework that offers end-to-end big data solutions to enterprises on their demand. BDaaS can be defined as a combined structure of Hadoop-as-a-Service (HDaaS), Data-as-a-Service (DaaS), and Data Analytics-as-a-Service (DAaaS). Increase in need for ensuring high data quality along with creating a channelized data flow in organizations has driven the need for technologically advanced big data solutions to store, assess, gather, visualize, and make predictions from the information gained from large data volumes. Due to the rising usage of cloud-based data analytics solutions, the global market for Big Data as a Service (BDaaS) is expected to witness strong growth in the upcoming years.
By solution type, the data analytics-as-a-service segment garnered major big data as a service market share in 2018 and is expected to remain dominant during the forecast period. Data analytics-as-a-service (DAaaS) is considered as a low-cost alternative for small and medium enterprises. Increased adoption of cloud-based services in small and medium enterprises is expected to fuel the growth of the big data as a service market. However, Hadoop as a service (HaaS) segment is expected to witness highest CAGR in the upcoming years owing to several factors such as rise in demand for HaaS among SMEs, increase in cloud-based big data services along with flexibility and agility provided by these services, which further fuels the growth of the market.
By Solution Type
Hadoop-as-a-Service segment would exhibit the highest CAGR of 38.9% during 2019-2026.
By deployment model, the public cloud segment dominated the big data as a service market share in 2018 and is expected to remain dominant during the forecast period. As the initial investment required for the deployment is very less, and there are no responsibilities involved in managing the infrastructure, which further fuels the growth of the market. However, the hybrid cloud segment is expected to witness highest growth rate in the upcoming years.
By Deployment Model
Hybrid Cloud would exhibit the highest CAGR of 40.9% during 2019-2026.
North America dominated the global market in 2018 and is expected to remain dominant during the forecast period as it is the most advanced region in terms of technology adoption. Moreover, the region holds the dominant position in the big data as a service market due to presence of developed economies such as the U.S. and Canada, as they greatly focus on innovations obtained from R&D and technology. However, Asia-Pacific region is expected to grow at the highest CAGR during the forecast period, as number of startups and well established companies in Asia-Pacific region are opting for Big Data as a Service to bring diversification in their business solutions, which fuels the growth of the market.
The report focuses on the growth prospects, restraints, and trends of the big data as a service market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the global market.
The global Big Data as a Service (BDaaS) market is segmented on the basis of solution type, deployment model, organization size, industry vertical, and region. Based on solution type, the market is bifurcated into Hadoop-as-a-Service (HaaS), Data-as-a-Service (DaaS), and Data Analytics-as-a-Service (DAaaS). Based on deployment model, the market is divided into public cloud, private cloud, and hybrid cloud. Based on organization size, the market is classified into small and medium-sized enterprise, and large enterprise. Depending on industry vertical, the market is segmented into BFSI, retail and e-commerce, IT & telecom, healthcare, government, manufacturing, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The big data as a service market is dominated by the global Big data as a service players such as Amazon Web Services, Inc., Hewlett Packard Enterprise (HP), IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Teradata Corporation, Google, Inc., and Accenture.
By Industry Vertical
BFSI segment is dominating the market and is expected to garner highest revenue during the forecast period with $15.31 billion revenue in 2026.
Top impacting factors
Current and future big data as a service big data as a service market trends are outlined to determine the overall attractiveness of the market. Top impacting factors highlight the big data as a service market opportunities during the forecast period. Factors such as massive growth of big data across the globe, rise in demand for real-time data analytics, government initiatives supporting big data infrastructure, and upsurge in the adoption of predictive modeling tools are expected to boost the market growth. However, security and privacy threats, and lack of big data IT skills are expected to impede the market growth during the forecast period. Furthermore, huge investment in IT sectors by the businesses is expected to provide major growth opportunities for the big data as a service market in upcoming years.
Massive growth of big data across the globe
The volume of data captured by organizations is continuously increasing due to rise of social media, Internet of Things (IoT), and multimedia, which have produced an overwhelming flow of data in either structured or unstructured format. For instance, almost 90% of the world’s data has been created in the past two years alone. Machine-based as well as human-generated data are witnessing an overall growth rate of 10 times faster than conventional business data. For instance, machine data is experiencing an exponential 50 times faster growth rate. In addition to this, there are expected to be more than 50 billion smart connected devices in the world by 2020, which will collect, analyze and share this data.
Huge investment in IT sectors by the businesses
Growing adoption of advanced and emerging technologies such as artificial intelligence (AI), robotics, Internet of Things (IoT), and machine learning, are gradually catalyzing transformation across industries such as manufacturing, transportation, healthcare, retail and others. In addition to this, number of businesses are investing heavily in the IT sector as well as on these emerging technologies, which is expected to provide lucrative opportunities for the big data as a service market. The adoption of these technologies is expected to generate massive amount of data, which can help gain business insights from this data.
Asia-Pacific would exhibit the highest CAGR 42.1% during 2019-2026.
Covid-19 Impact on the Big Data as a Service Market -
The growth of the big data as a service market is expected to continue during the Covid-19 pandemic outbreak. The operations in the IT industry are carried out normally by ‘working from home’ structure. Therefore the adoption of big data as a service in its application sectors such as BFSI, e-commerce, it & telecom, healthcare, and government are carried out normally.
On the other hand, the demand for big data as a service from sectors such as manufacturing and retail has been decreased due to the operational halt by government of all nations during the novel coronavirus outbreak.
Key Benefits for Stakeholders:
- This study presents the analytical depiction of global big data as a service market trends and future estimations to determine the imminent investment pockets.
- A detailed analysis of the big data as a service market segment measures the potential of the market. These segments outline the favorable conditions for the market.
- The report presents information related to key drivers, restraints, and opportunities.
- The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the big data as a service industry.
Big data as a service Market Report Highlights
By Solution Type
By Deployment Model
By Organization Size
By Industry Vertical
Key Market Players
ACCENTURE, MICROSOFT CORPORATION, SAS INSTITUTE INC., HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP, AMAZON WEB SERVICES, INC., GOOGLE LLC, INTERNATIONAL BUSINESS MACHINES CORPORATION, SAP SE, Teradata, ORACLE CORPORATION
According to the insights of the CXOs of leading companies, the evolution of technological tools has enabled solutions to be delivered as a service. Due to this, Data as a Service (DaaS), Software as a Service (SaaS), and Platform as a Service (PaaS), have emerged as potential growth opportunities for big data vendors. Number of benefits offered by these technologies, cloud computing is witnessing a rapid increase in its adoption. For instance, the cloud computing market is anticipated to reach at $160 billion by 2020, attaining a growth rate of 19%. Moreover, several government initiatives are supporting open data technology which is expected to provide lucrative opportunities for the market. For instance, La Libertad in Peru, Buenos Aires in Argentina, and Sao Paolo in Brazil have committed to government transparency and have welcomed new forms of social participation. Furthermore, number of groups such as the Inter-American Development Bank are working across Latin America to scale open data initiatives, which will reduce corruption, increase the resilience of cities, and improve health service delivery.
Furthermore, the global big data as a service (BDaaS) market is highly fragmented and is characterized by the presence of well diversified vendors. The vendors of this market are trying to increase their market presence by adopting aggressive marketing strategies such as business expansion, mergers & acquisitions. The major players of this market are investing in new startups and technologies, which support their overall product offerings. Also, international players are continuously launching advanced products as well as services in developing economies to take advantage of the economic growth in these regions.