The global big data as a service market was valued at $10.24 million in 2018 & is estimated to generate net revenue of approximately $36.25 million by 2027, growing at a CAGR of 15.28%. Big data comes into play when high volume, velocity, variety and quality of data is involved. Big data have a wide range of applications such as the analysis of conversations in social networking websites, fraud management in the financial services sector, and disease diagnosis in the healthcare sector.

One of the foremost advantage of Big Data-as-a-Service solutions is that it does not involve upfront investments in developing an in-house big data solution such as a Hadoop cluster. It doesn’t require training your personnel to work with large datasets. One has to pay-as-you-go and thus only pay for what is actually used. This can save a lot and is especially useful if implemented for a smaller organization or organization which has just started with Big Data and is still in the experimentation phase. Another benefit of a Big Data as a Service solution is that it enables the company to focus on the business side of Big Data. Also, the BDaaS providers are generally responsible for the compliance side of Big Data as well as the security aspects. In theory, this should thus be well organized, perhaps even better organized than you could arrange yourself.

Big data as a service has become an integral aspect of businesses in the current scenario. Marketing and sales are some of the big fields where big data plays a pivotal role. Customers worldwide have now become closely associated with media than ever before. This indicates intense market competition for companies to gain their attention. Capturing the interest of these customers and encompass all groups of customers have become an uphill task. These challenges can be ameliorated with the use of big data analytics that goes beyond the role of traditional marketing.

The following factors primarily drive global big data as a service market:

• Growing requirement for increasing efficiency of business
• The rise in the adoption of cloud technology
• Big data supporting the switch from analog to digital
• Strict financial regulations and government compliances
• The rise in the penetration of the Internet

One of the important drivers is the rise in the penetration of the Internet. The increasing number of smartphones and Internet users has led to the generation of high volumes of data in small and medium businesses and large businesses. These growing Internet penetrations are creating a large volume of data. Big data and Business intelligence provide real-time information which helps organizations to avoid process delays and help to improve in market response and decision making.

The big data as a service market is segmented based on the deployment model where they are further classified into on-premise and cloud. Cloud model is further segmented into the private, public and hybrid cloud model. The hybrid cloud is quickly becoming a leading cloud solution, as it allows balance. It also offers benefits, such as cost efficiency, mobility, agility, and elasticity. Data security concerns, lack of realization regarding the potential of big data solutions and services and issues related to data integration are hindering the global big data as a service market.

Growth in the number of companies tilting towards big data services. Organizations are investing a considerable amount of time and money into analytics services. For instance, in banking, big data analytics help to track real-time trends to offer retailers the insight that assists them in better understanding consumers shopping habits. Analytics offer many opportunities across various industries. Thus, industries are widely adopting big data.

The global big data as a service market segments include organization size, deployment model, end-user and region.

By organization size, global big data as a service market is further segmented into:

• Large Enterprise
• Small Medium Business

By deployment model, global big data as a service market is further segmented into:

• On-premise
• Cloud

By end-user, global big data as a service market is further segmented into:

• BFSI
• Healthcare
• Retail
• IT and Telecommunication
• Energy and Power
• Manufacturing
• Other End-Users

Geographically, the global big data as a service market has been segmented on the basis of four major regions, which includes:

• North America Big Data as a Service Market – The U.S., Canada
• Asia Pacific Big Data as a Service Market – China, India, Japan, Australia, South Korea and RoAPAC
• Europe Big Data as a Service Market – UK, Spain, Germany, France, Italy, Russia and RoE
• Rest of World- Latin America & MEA

The North America region was the highest contributor to the global market. The countries considered in the North America region are the US and Canada.

North America big data market is expected to be on surging trend owing to government funding to support big data projects, rising application of big data in the financial sector. Moreover, growth in e-commerce industry is also expected to boost the growth of the big data market in North America during the forecast period.

The major market players of the global big data as a service market are:

• International Business Machines Corporation
• Oracle Corporation
• Wipro Ltd.
• SAP SE
• Information Builders Inc.
• SAS Institute
• Alteryx Ltd.
• Opera Solutions
• Guavus Inc. (acquired by Thales)
• MAPR Technologies
• Microsoft Corporation
• Hewlett Packard Enterprise Company
• Accenture
• Amazon Web Service, Inc.
• Google LLC

Company profiles cover the analysis of important players. These companies are using organic and inorganic strategies for growth. For instance, in May 2018, Oracle Corporation signed an agreement to acquire DataScience.com, whose platform centralizes data science tools, projects, and infrastructure in a fully-governed workspace.

Key findings of the global big data as a service market:

• Cloud is the prominent and the fastest growing deployment model
• Retail is rapidly growing end-user segment
• SME are rapidly adopting big data as a service