Big Data as a Service (BDaaS) Market to Exhibit a Remarkable 31+% CAGR; Rising Growth, Business Analysis & 2028 Forecast

According to a recent report published by The Insight Partners titled, “Big Data as a Service (BDaaS) Market Size, Share, Industry Trends& Forecast, 2022-2028.

NEW YORK, UNITED STATES, December 12, 2022 /EINPresswire.com/ -- Increasing Adoption of Big Data Analytics in Supply Chain Management Catalyzes Big Data as a Service (BDaaS) Market Growth. According to our latest market study on "Big Data as a Service (BDaaS) Market Size, Share, Growth, Industry Trends and Forecast to 2028–COVID-19 Impact and Global Analysis – by Component, Deployment, Enterprise Size, and Industry," the big data as a service (BDaaS) market is expected to grow from US$ 18.49 billion in 2021 to US$ 124.02 billion by 2028; it is estimated to grow at a CAGR of 31.5% from 2022 to 2028.

The adoption of big data by several companies to deliver enhanced and faster decision-making solutions and provide a competitive advantage by analyzing and timely acting on the information is driving the big data as a service (BDaaS) market. Further, the big data as a service (BDaaS) market growth is attributed to a surge in demand for cloud-based big data solutions among small and medium businesses. However, the big data as a service (BDaaS) market growth is hampered by high implementation costs and a lack of skilled labor. The rising demand for better insights into corporate planning and emerging trends, including social media analytics, are expected to provide significant prospects for the big data as a service (BDaaS) market players during the forecast period. These factors are expected to influence the growth of the big data as a service (BDaaS) market.

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Strategic Insights

Report Coverage Details

Growth rate: CAGR of 31.5% from 2022 to 2028

Market Size Value in US$ 18.49 billion in 2021

Market Size Value by US$ 124.02 billion by 2028

Forecast Period: 2022-2028

Base Year: 2021

No. of Pages: 150

Historical data available: Yes

The Global Big Data as a Service (BDaaS) Market competitive landscape provides details by competitor. Details included are organization overview, company financials, revenue generated, Industry potential, investment in research and development, new Big Data as a Service (BDaaS) Market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company’s focus related to Big Data as a Service (BDaaS) Market.

Key Players Profiled in the Big Data as a Service (BDaaS) Market Study are :

Amazon Web Services
Dell Technologies
Google
Hewlett Packard Enterprise
IBM
Microsoft
Oracle
SAP
SAS
….

Several other major companies were studied and analyzed during this research study to get a holistic view of the big data as a service (BDaaS) market and its ecosystem.

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Several firms, such as IT firms, can access, store, and process huge amounts of data due to technological advancements. Organizations analyze data sets and generate significant insights to apply to their operations using big data. Due to the broad adoption of digital technology, big data analytics (BDA) has emerged as a vital business competency for firms seeking to extract value from an ever-increasing volume of data to achieve a competitive advantage in the big data as a service (BDaaS) market. The use of BDA in logistics and supply chain management (LSCM) has improved the overall business performance. LSCM experienced significant challenges, such as delayed shipments, rising fuel costs, inconsistent suppliers, and ever-increasing customer expectations, resulting in inefficiency and wastage in supply chains. Thus, the increasing adoption of BDA in supply chain management are driving the big data as a service (BDaaS) market growth.

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In 2021, North America is expected to hold the largest share of the big data as a service (BDaaS) market. The North America big data as a service (BDaaS) market is segmented into the US, Canada, and Mexico. The proliferation of data and the volume of information gathered by businesses, multimedia, social networks, and the Internet of things are likely to fuel the big data as a service (BDaaS) market growth in the coming years. Also, the market growth is attributed to the growth of the consumer & machine data sectors, the growing demand for new applications, and the integration of platforms that utilize big data technology. Due to the huge collection of data from structured and unstructured sources, countries such as Canada and the US dominate the North America big data analytics (BDaaS) market.
For instance, Google Cloud spent US$ 2.6 billion on Looker purchases, and Salesforce saved US$ 15.7 billion on Tableau. These companies specialize in enterprise-scale data modeling that automates data analysis with interactive reports and visualizations. A few of the well-established players operating in the North America big data as a service (BDaaS) market include International Business Machines Corp., Accenture, Cisco Systems Inc., Dell, Cloudera Inc., EMC Corporation, Oracle Corp, Amazon Web Services Inc., HP, Hitachi Data Systems Corporation, and Microsoft. 

Key Benefits for Big Data as a Service (BDaaS) Market:

• In-depth analysis of the Market is conducted by constructing Market estimations for the key Market segments between 2022 and 2028. The report provides an extensive analysis of the current and emerging Big Data as a Service (BDaaS) Market trends and dynamics.
• Key Market players within the Market are profiled in this report and their strategies are analyzed thoroughly, which helps to understand the competitive outlook of the industry.
• Extensive analysis of the Market is conducted by following key product positioning and monitoring of the top manufacturers within the Market
• A comprehensive analysis of all the regions (North America, Europe, Asia-Pacific, South America, The Middle East and Africa )

Contact Us:
If you have any queries pertaining to the report or would like further information, feel free to reach out to us at-
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

Sameer Joshi
The Insight Partners
+91 96661 11581
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