Big Data as a Service Market Expected to Reach USD 61.42 Billion by 2026 | Top Players such as - AWS, Teradata and IBM

According to the report published by Allied Market Research, The Big Data as a Service Market Expected to Reach USD 61.42 Billion by 2026 | Top Players such as - AWS, Teradata and IBM. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.

Massive growth of big data across the globe, growing demand for real-time data analytics, surge in adoption of predictive modeling tools, and government initiatives supporting big data infrastructures drive the growth of the global big data as a service market. However, security and privacy threats and lack of big data IT skills hinder the market growth. On the contrary, huge investment in IT sectors by the business is expected to create lucrative opportunities in the near future.

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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.

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.

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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.

Some of the key Big data as a service industry players profiled in the report include Amazon Web Services, Inc., Hewlett Packard Enterprise (HP), IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Teradata Corporation and Google, Inc.

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Key Findings of the Study:

● Based on solution type, the data analytics-as-a-service segment dominated the global big data as a service market in 2018 and is expected to generate highest revenue during the forecast period. However, the Hadoop-as-a-service segment is expected to witness highest growth rate in the upcoming years.

● Based on deployment model, the public cloud segment dominated the market in 2018 and is expected to generate highest revenue during the forecast period. However, the hybrid cloud segment is expected to witness highest growth rate in the upcoming years.

● On the basis of organization size, the large enterprises dominated the global big data as a service market in 2018 and it is expected to remain dominant throughout the forecast period.

● In terms of industry vertical, the BFSI segment dominated the global big data as a service market in 2018 and is expected to generate highest revenue during the forecast period.

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