Global Impact of the Coronavirus On Big Data as a Service Market - TMR Analysis

Predominantly, big data as a service is a cloud-based framework, which provides end-to-end big data solutions to enterprises on their demand. It can be defined as a combined structure of data-as-a-service (DaaS), hadoop-as-a-service (HDaaS), and data analytics-as-a-service. The augmenting need for ensuring the high data quality and creating a channelized data flow in enterprises has fueled the need for technologically advanced big data solutions to gather, store, assess, visualize, and make predictions from the information gained from large data volumes. With the rising usage of cloud-based predictive analytics, the global market for big data as a service is likely to witness strong growth in the years to come.

North America has been dominating the global market and is expected to retain its position over the next few years. Owing to the presence of a large pool of established players, such as Dell, HP, IBM, and Cisco, the U.S. has surfaced as the leading domestic market for big data as a service in North America.

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Global Big Data as a Service Market: Overview

Big data as a service is considered as the delivery of statistical analysis information from a third party or a service provider that helps the organization to understand the insights with an objective to achieve competitive advantage. Global data as a service market is growing at a faster pace owing to the increasing demand for statistical analysis since the massive amount of unstructured data is generated almost at regular interval of time from the various organization. The organizations outsource the big data service to manage the large data rather than doing it in-house. The big data as a service is often offered by various ways, for instance, big data analytics software as a service, as data fabric which includes data management and the data the aggregation. It can also be offered as data platform service which mostly covers the analytical programming, and also as cloud infrastructure. The big global data as a service market is expected to grow at significantly high CAGR owing the robust demand for service offerings.

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Global Big Data as a Service Market: Drivers and Restraints

Global big data as a service market is primarily driven by the increasing requirement of structured data for analysis which helps the organizations to achieve targets and grow at a faster pace. The demand for data science and predictive analysis is increasing which boosts the big global data as a service market. The conclusions driven by the use of big data are accurate with novel insights when compared to traditional analytics is also one of the factors driving the big global data as a service market. Moreover, the expansion of big data analytics, covering data from intelligent systems such as smart meters, in-vehicle infotainment, sensors, etc. further boosts the big global data as a service market. The current growth of cloud computing is also expected to impulse the big data as service market owing to its flexibility in delivery models which is mostly considered as the best approach for business users.

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