Big Data as a Service (BDaaS) Market Size, Share & COVID-19 Impact 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, 2021-2028

The global big data as a service (BDaaS) market size was USD 12.72 billion in 2020. The global impact of COVID-19 has been constructive, with big data as a service witnessing a diverse demand across all regions during the pandemic. Based on our analysis, the global market is projected to grow from USD 12.72 billion in 2020 to USD 93.52 billion in 2028 at a CAGR of 28.2% during the 2021-2028 period. The unexpected drop in CAGR is owing to the unpredictability in the overall market’s demand across SMEs and startups, especially in developing nations.

The market is driven by the advancement of social media platforms, the increasing 5G deployment rate, and the rising number of e-commerce industries worldwide. The growing demand for big data as a service 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., these are the following data generated every minute of the day on social media platforms - in Snapchat 527,700 photos are shared, approx., 100-120 experts join LinkedIn, around 4,146,600 YouTube videos are viewed, on Twitter about 456,000 tweets are shared, and Instagram users post 46,740 photos.

Government and large organizations in the 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 to create high prominence data, along with developing a centralized channel of data flow.

Increasing Adoption of Cloud-based Platforms amid COVID-19 to Support Growth

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 are not functioning, and therefore, numerous marketing strategies, estimated investment circumstances, and events are on hold. The future sight for the market size in the coming second half of the year 2020 and beyond, remains ambiguous.

The overall service BDaaS market is expected to grow with a significant CAGR during the forecast period. The growth of the market is majorly attributable to the growing investment for cloud-based solutions across the countries less impacted by the novel coronavirus. As this pandemic continues, it has posed several challenges for both solution providers and end-users. However, the rising adoption of hybrid cloud among large organizations is playing a crucial role to uplift the market growth.

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 hybrid cloud to continue production with advanced security. This would further help employees to get access to the organization’s database with advanced security.

LATEST TRENDS

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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 library from insecure scripts and undesirable cyber-attacks. For instance, in June 2019, Microsoft Corporation partnered with Oracle Corporation for assisting users to transfer and operate 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.

DRIVING FACTORS

Increasing Number of Ecommerce Platforms to Bolster Growth

One of the key driving factors promoting big data as a service (BDaaS) 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 a 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. According to the study conducted by Forbes Media LLC., in May 2018, on average around 2.5 quintillion bytes of data is generated every day.

With the growth of connected devices, the demand for BDaaS is expected to rise during the forecast period. According to the Congressional Research Service (CRS) (Congress Government), in 2019, the global market of connected devices was around USD 11.1 billion and is expected to reach a value of USD 12.7 billion by the end of 2025.

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 lack of skilled professionals. Besides this, recruiting and retaining qualified professionals to develop advanced BDaaS is another factor hampering growth.

To design, develop, and operate the BDaaS applications, organizations need experienced professionals in the relevant field. 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.

SEGMENTATION

By Solution Analysis

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 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. According to a study conducted by Forbes Media LLC., during 2016-2017, around 4 billion of the population were active on the internet platform. Additionally, Google accounted for more than 40,000 searches per day (around 3 billion searches per day).

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 to deploy data-as-a-service to secure their commerce against cyber-attacks.

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 share in terms of revenue during the forecast period. This is due to the rising demand for hybrid 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 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. According to the India Brand Equity Foundation (Ministry of Commerce & Industry, Government of India), the Indian e-commerce industry is valued at around USD 38.5 billion in 2017 and is expected to reach USD 200 billion by 2026, with a growing CAGR of about 45%. Also, 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 This is because hybrid cloud assists organizations to leverage the benefits of both public and private cloud. Moreover, it provides organizations to access their data faster with enhanced security.

By Industry Analysis

Increasing Deployment of BDaaS Solution across 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 configuration in health outcomes, patient satisfaction, and the 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 data of the population. For instance, in 2018, the government of Korea invested around USD 16 billion for the development of various projects based on big data across public sectors.

REGIONAL INSIGHTS

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

Among all the regions, North America stood at USD 6.33 billion in 2020 and is expected to grow with a substantial CAGR during the forecast period. The increasing investment by major players to procure BDaaS in their business and manufacturing unit 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. For instance, in 2018, Intel Corporation adopted big data services in its manufacturing unit to develop integrated chips. BDaaS assists the company in producing chips faster, provides an immense storage system, identifying manufacturing bugs, and cyber vulnerabilities. By adopting big data services, Intel deployed advanced predictive & prescriptive analysis and secured around USD 30 billion on its overall production quality.

Europe is estimated to rise with a significant CAGR 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 considerable growth 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, domestics players offering BDaaS services are focused on merger and acquisition, and partnerships to launch various big data projects. For instance, the SMEs in countries such as India and Bangladesh 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 will help elevate the demand for BDaaS. The market in Latin America is expected to grow at a considerable rate, owing to increasing internet penetration. Also, the growing investment in the IT & telecom industry, rising number of regional startups, and local providers are likely to drive the market growth.

KEY INDUSTRY PLAYERS

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 for developing advanced BDaaS to cater to industries such as manufacturing, BFSI, healthcare, and others.

Another key player in the market is IBM Corporation. The company’s key business segments include cloud & cognitive software, global technology services, financing, business services, and systems. Furthermore, the system segment includes four major business areas software, storage, cloud & servers, and services. IBM provides security-rich, high-performance enterprise solutions to its users. Other organizations are leveraging the advantages of BDaaS solutions over cloud platforms by deploying IBM Cloud Object Storage, IBM Message Hub (managed Kafka), IBM Analytics Engine (developed on open-source Apache Spark and Apache Hadoop), and IBM Streaming Analytics. The company is currently investing in the development of various big data projects.

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. For instance, in November 2019 – Google Cloud collaborated with Deloitte Touché Tohmatsu Limited to offer advanced cloud computing solutions and services to create significant opportunities for big data applications.

LIST OF KEY COMPANIES PROFILED:

• Amazon Web Services, Inc. (Washington, United States)


• Hewlett Packard Enterprise (California, United States)


• IBM Corporation (New York, United States)


• CenturyLink, Inc. (Louisiana, United States)


• Microsoft Corporation (Washington, United States)


• Oracle Corporation (California, United States)


• SAP SE (Germany)


• Accenture Plc. (Dublin, Ireland)


• ZeroStack, Inc. (California, United States)


• Wipro Limited (Bengaluru, India)


• Snowflake Inc. (Sydney, Australia)


• SAS Institute Inc. (California, United States)


• Information Builders Inc. (New York, United States)


• Alteryx Ltd. (California, United States)


• Opera Solutions LLC (New Jersey, United States)


• Guavus Inc. (California, United States)

KEY INDUSTRY DEVELOPMENTS:

• 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.


• November 2019 – Google LLC announced its partnership with Deloitte. The partnership is aimed at combining Google’s Cloud with Deloitte services to provide advanced solutions and services to assist clients to resolve complex problems while using cloud.


• September 2017 – IBM Corporation launched its advanced analytics solution for the Twitter platform. This solution provides organizations and individual users with access to data and analytics. The solution helps to generate and manage an average data of around 280 billion monthly active users and 500 billion tweets per day.

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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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