Big Data as a Service Market Size, Share & Industry Analysis, By Solution (Hadoop-as-a-Service, Data-as-a-Service, and Data Analytics-as-a-Service), By Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), By Industry (BFSI, Retail and E-Commerce, IT & Telecom, Healthcare, Government, Manufacturing and Others) and Regional Forecast, 2024-2032

The global Big Data as a Service market size was valued at USD 26.16 billion in 2023 and is projected to grow from USD 33.58 billion in 2024 to USD 178.84 billion by 2032, exhibiting a CAGR of 23.3% during the forecast period. North America dominated the global market with a share of 47.97% in 2023.

The advancement of social media platforms drives the market, the increasing 5G deployment rate, and the rising number of e-commerce industries worldwide. The growing demand for big data as a service (BDaaS) among social media platforms such as Facebook, Twitter, LinkedIn, Instagram, YouTube, Snapchat, and others is the key factor propelling the market growth.

The increasing usage of social media and smart devices creates huge amounts of data. According to the Data Never Sleeps 5.0 report by Domo, Inc., the following data are generated every minute of the day on social media platforms: on Snapchat, 527,700 photos are shared, approx. 100-120 experts join LinkedIn, around 4,146,600 YouTube videos are viewed, about 456,000 tweets are shared on Twitter, and Instagram users post 46,740 photos.

Government and large organizations in IT & telecom, healthcare, manufacturing, and others are focused on the deployment of 5G Infrastructure to adopt BDaaS services. The implementation of 5G network solutions assists organizations in creating high-profile data and developing a centralized channel of data flow.

The COVID-19 pandemic has had a negative economic effect across several industries. Witnessing several preliminary signs from the first quarter of 2020, a slight decline is observed in the global demand for big data as a service among small and medium-sized enterprises (SMEs). Several industries were not functioning, and therefore, numerous marketing strategies, estimated investment circumstances, and events were on hold. However, the pandemic has been constructive after the second half of 2020, with big data as a service witnessing a diverse demand across all regions during the pandemic.

Many end-user organizations are focused on implementing a work-from-home strategy for their employees. This strategy drives organizations to invest and adopt BDaaS based on a hybrid cloud to continue production with advanced security. This would further help employees to get access to the organization’s database with advanced security.

Big Data as a Service Market Trends

Increasing Adoption of Cloud-based Advanced Analytics by Large Enterprises to Aid Growth

Key players in the global big data as a service market, such as Microsoft Corporation, IBM Corporation, SAP SE, Amazon Web Services, Inc., and others, are focused on developing big data technology services backed by cloud-based advanced analytics.

Cloud-based advanced analytics includes various applications such as machine learning, visualization, data/text mining, forecasting, sentiment and semantic analysis, multivariate statistics, network and cluster analysis, graph analysis, complex event processing, and others. The advanced analytics tools further help to secure the organization’s websites and related data libraries from insecure scripts and undesirable cyber-attacks. For instance, in June 2019, Microsoft Corporation partnered with Oracle Corporation to assist users in transferring and operating mission-critical business over advanced analytics offered by Microsoft Azure Cloud and the Oracle Cloud. This partnership will help create numerous opportunities for BDaaS providers in the forthcoming years.

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Big Data as a Service Market Growth Factors

Increasing Number of E-commerce Platforms to Bolster Growth

One of the key driving factors promoting Big Data as a Service market growth is the rising number of connected devices worldwide. End-user industries such as government, media & entertainment, retail, BFSI, and manufacturing are adopting connected devices for their business and manufacturing units. Connected devices are a part of the internet of things (IoT) ecosystem and generate massive amounts of data. This data is collected and stored for numerous analytical applications such as data/text mining, complex event processing, multivariate statistics, neural networks, and others. With the growth of connected devices, the demand for BDaaS is expected to rise during the forecast period.

E-commerce signifies a huge amount of the digital world, collecting customers’ social media movement, web browser histories, geolocation services, and uncontrolled online shopping carts. As online shopping provides customers with a more elevated experience, secured online purchases, optimized pricing and discounts, and many other factors, online shopping is predominately preferred by customers. Hence, e-commerce businesses are growing with greater statistics, driving their overall business. For instance,

• According to Forbes E-Commerce Statistics 2024, The overall e-commerce business is flourishing, and not only retail sales. By 2027, 22.6% of all retail sales would be directed online. Amazon, AliExpress, and eBay are the most popular e-commerce websites annually.

Big data analysis helps to identify spending behavior and notify consumers regarding offers and discounts. Enterprises can set up notifications for several fraudulent actions, such as a series of dissimilar purchases on the same debit or credit card within a short period, numerous payment approaches from the same IP address, and many other security concerns taken care of. Hence, the growth of e-commerce business drives the progress of the market.

RESTRAINING FACTORS

Rising Security Breaches and Lack of Skilled Professionals to Hamper Market Growth

Although BDaaS provides numerous features, such as end-to-end solutions, enhanced storage service, and tractability, the solutions have few restraints. Some of the key market restraints are security breaches, deployment and operability issues, and a lack of skilled professionals. Besides this, recruiting and retaining qualified professionals to develop advanced BDaaS is another factor hampering growth.

Organizations need experienced professionals in the relevant field to design, develop, and operate the BDaaS applications. Owing to the lack of professionals, only 15% of the organizations deployed BDaaS, while the rest still make use of pilot projects. This has driven the demand and pay for skilled professionals in the market.

Big Data as a Service Market Segmentation Analysis

By Solution Analysis

Rising Internet Penetration Rate and to Drive Growth of Hadoop-as-a-service

Based on the solution, the market is divided into data analytics-as-a-service, Hadoop-as-a-service, and data-as-a-service.

Among them, the Hadoop-as-a-service is expected to grow with the highest CAGR during the forecast period. The rising internet penetration and small and medium-sized enterprises (SMEs) adopting Hadoop-as-a-service in their business units are responsible for the growth of this segment.

The data-as-a-service and data analytics-as-a-service segments are expected to grow notably during the forecast period due to the rising demand for BDaaS across industries such as government, manufacturing, retail, and others. Key end-user organizations are investing in deploying data-as-a-service to secure their commerce against cyber-attacks.

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By Deployment Model Analysis

Rising Popularity of BDaaS based on Cloud Services among SMEs to Drive Market

Based on the deployment model, the market is divided into public cloud, private cloud, and hybrid cloud.

Among these, the public cloud is expected to lead the market with the highest share in terms of revenue during the forecast period. This is due to the rising demand for public cloud-based BDaaS among SMEs and emerging start-ups. SMEs and e-commerce startups are focusing on deploying public cloud in their business units to leverage benefits such as immense storage capacity, advanced security solutions, and the facility to combine external and internal data. With the rise in the number of e-commerce startups and SMEs, market demand for the public cloud is expected to boost during the forecast period. For instance,

• During 2020-2021, the government of India invested around USD 1.4 billion for the initiation of the BharatNet Project. This project was launched to assist various SMEs and e-commerce startups in rural areas by providing LTE broadband services across the country.

The hybrid cloud segment is expected to grow with the highest CAGR during the forecast period because hybrid cloud assists organizations in leveraging the benefits of both public and private cloud. Moreover, it allows organizations to access their data faster with enhanced security.

By Industry Analysis

Increasing Deployment of BDaaS Solution across the Healthcare Sector to Propel Market Growth

Based on industry, the market is divided into BFSI, retail, e-commerce, IT & telecom, healthcare, government, manufacturing, and others (media & entertainment, education, etc.).

Among these, the healthcare segment is anticipated to grow with the highest CAGR during the forecast period, owing to the rising demand for big data services across healthcare units and the increasing volume of medical data. In the healthcare industry, big data as a service is used to collect, analyze, and leverage the patient’s physical and clinical data. It further helps to provide identification of patterns and configurations in health outcomes, patient satisfaction, and overall hospital growth.

The other segments, such as retail & e-commerce and government, are expected to grow with a considerable CAGR during the forecast period. The growth is due to the rising number of startups in retail and e-commerce sectors adopting public BDaaS. Also, the government is investing in procuring advanced cloud-based BDaaS to track and monitor population data.

REGIONAL INSIGHTS

The global market is divided into five regions such as North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America.

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Among all the regions, North America stood at USD 12.55 billion in 2023 and is expected to grow with a substantial CAGR during the forecast period. The increasing investment by major players to procure Big data as a service in their business and manufacturing units is one of the key factors driving the regional market. Key companies such as Intel Corporation and others are adopting BDaaS in their manufacturing units to boost their productivity. BDaaS assists the company in producing chips faster, provides an immense storage system, and identifies manufacturing bugs and cyber vulnerabilities. By adopting big data services, Intel deployed advanced predictive & prescriptive analysis and secured around USD 30 billion in its overall production quality.

Europe is estimated to rise significantly during the forecast period. This is attributable to the increasing adoption of connected devices based on the internet of Things (IoT) in countries such as the UK, Spain, Italy, Germany, and others. Also, the rising investment and the adoption of big data services by the governments of European countries will promote growth.

Asia Pacific is expected to experience the highest CAGR during the forecast period. Countries such as China, India, Japan, South Korea, and others are likely to support the market growth in the region. This is owing to the rising number of retailers and emerging SMEs adopting big data services based on the public cloud. Additionally, domestic players offering BDaaS services are focused on mergers, acquisitions, and partnerships to launch various big data projects. For instance, SMEs in countries such as India and Bangladesh have completed a partnership with National Research Systems (NRS) to launch the Big Data2 CSA project in Southeast Asia.

The adoption of the 5G infrastructure and the increasing smartphone penetration in the Middle East and Africa would help elevate the demand for BDaaS. The market in Latin America is expected to grow at a considerable rate due to increasing internet penetration. Also, the growing investment in the IT & telecom industry, the rising number of regional startups, and local providers are likely to drive the market growth.

List of Key Companies in Big Data as a Service Market

Key Players Such as IBM Corporation and Hewlett Packard Enterprise (HPE) Focus on Strategic Partnership to Strengthen Market Position

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 in developing advanced BDaaS to cater to industries such as manufacturing, BFSI, healthcare, and others. Major players in the market are concentrating on implementing various business strategies by investing in mergers and acquisitions, partnerships, product launches, and others to strengthen their position in the market.

LIST OF KEY COMPANIES PROFILED:

• Amazon Web Services, Inc. (U.S.)


• Hewlett Packard Enterprise (U.S.)


• IBM Corporation (U.S.)


• Microsoft Corporation (U.S.)


• Oracle Corporation (U.S.)


• SAP SE (Germany)


• Wipro Limited (India)


• Snowflake Inc. (Australia)


• SAS Institute Inc. (U.S.)


• Alteryx Ltd. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• March 2024 – Snowflake announced a collaboration with Mistral AI to offer powerful language models of Mistral AI to Snowflake users in the Data Cloud. Mistral AI’s newest and powerful model, Mistral Large, is accessible to customers in the Snowflake Data Cloud, which enables them to leverage generative AI with their business data securely.


• March 2024 – Oracle and Microsoft expanded their alliance to meet increasing customer requirements for Oracle Database Azure across the globe. Oracle Database Azure would be expanded to five regions, which would result in the total planned multi-cloud accessibility footprint of 15 regions globally.


• February 2024 – IBM and Wipro extended their collaboration to provide generative AI services and aid to clientele. The Enterprise AI-Ready Platform of Wipro makes use of the IBM Watsonx AI and data platform, comprising watsonx.data, watsonx.ai, AI assistants, and watsonx.governance to provide clients with a service that aids in accelerating AI adoption.


• July 2023 – GrowthLoop announced a collaboration with Google Cloud to renovate marketing through progressive analytics and AI (artificial intelligence). The collaboration makes use of BigQuery and the generative AI capabilities of Google Cloud to enhance the way businesses segment, personalize, activate, and evaluate their marketing.


• May 2023 – Google Cloud and SAP extended their alliance to introduce an all-inclusive open data solution designed to streamline data landscapes and expand the power of business data. The offering allows customers to develop an all-inclusive data cloud that collects data from across the enterprise landscape using the Datasphere solution of SAP with the data cloud of Google. With the new offering, enterprises can interpret their entire data estate in actual time and upsurge value from their SAP software and Google Cloud investments.


• 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.

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An Infographic Representation of Big Data as a Service (BDaaS) Market

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The big data as a service market research report offers a competitive analysis of the market across various regions worldwide. Additionally, the report offers detailed insights into the latest industry trends and examines technologies that are being deployed at a rapid pace at the global level. The report also highlights the growth-stimulating factors and restraints, assisting the reader to gain in-depth knowledge about the market and its future prospects over recent years.

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