DaaS Market
Highlights
The Data as a Service (DaaS) market refers to an industry that
provides a platform for delivering data on-demand to users over the internet.
DaaS solutions provide businesses and individuals with access to data from
various sources, which can be used for data analysis, business intelligence,
and other applications. The market is being driven by factors such as the rapid
adoption of cloud computing, the increasing demand for real-time data
analytics, and the growing need for cost-effective data management solutions.
The data
as a service (DaaS) market is projected to grow
from USD 7.52 Billion in 2022 to USD 67.85 billion by 2030, exhibiting a
compound annual growth rate (CAGR) of 36.9% during the forecast period (2022 -
2030).
The study offers a complete assessment of the global situation,
the economic situation, and the COVID-19 analysis of the overall industry. Data
as a service (DaaS) is a model that offers on-demand data to users regardless
of the geography or organization of the provider and the consumer. DaaS is a
cost-effective responsive service that enables companies to concentrate on
selling their products rather than sourcing, managing, and activating data. Businesses
need new capabilities to support themselves in the market and to build a
competitive edge for themselves. Due to rapid technological change, companies
are turning to cloud-based services to help their businesses minimize the costs
of building, running, and protecting applications, thereby accelerating
business agility.
Key players
· IBM Corporation (U.S.)
· Fair Isaac Corporation (U.S.)
· Microsoft Corporation (U.S.)
· Alibaba Group Holding Limited (China)
· Google Inc (U.S.)
· Facebook Inc (U.S.)
· Oracle Corporation (U.S.)
· Bloomberg Finance L.P. (U.S.)
· Salesforce.com Inc. (U.S.)
· LinkedIn Corporation (U.S.)
· Mastercard Advisors LLC (U.S.)
· LexisNexis Corporation (U.S.)
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Market Dynamics
The factors responsible for driving the market are the increasing
adoption of big data analytics across various industry verticals and the
increasing demand for real-time data analytics. In addition, the industry is
also driven by the increased adoption of cloud-based services in enterprises.
Initiatives like Bring Your Own Device (BYOD) and Enterprise Mobility are
critical opportunities in the data as a service (DaaS) industry. The industry
also faces a variety of obstacles, including data theft and cyber-attacks, and
a lack of technological knowledge in data as a service (DaaS) that could
potentially impede the market growth.
Cloudera has extended its Altus Data Science platform as a service
offering to the Azure cloud. This development will preserve business metadata
and security and governance policies so that they can be implemented through
data processing and data analytics workloads in the cloud.
Market Segmentation
The global data as a service market has been segmented
into deployment, organization size, end-user, pricing model, solution, and
professional services.
By deployment, the global data as a service market has been segmented
into public cloud, private cloud, and hybrid cloud.
By organization size, the global data as a
service market has been segmented into small and medium enterprises and large
enterprises.
By the end-user, the global data as a service market has been segmented
into BFSI, healthcare, retail, manufacturing, media & entertainment,
transportation, IT & telecom, and others.
By pricing model, the global data as a service market has been segmented
into volume-based pricing model and data type-based pricing model. The
volume-based pricing model includes quantity-based pricing and pay per use
pricing.
By solution, the global data as a service market has been segmented
into disaster recovery and backup solutions, test data management, data
warehousing, data migration, and others.
By professional services, the global data
as a service market has been segmented into implementation & deployment,
support & maintenance, and consulting.
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Regional Analysis
The geographical analysis of the global data as a service market
is studied for North America, Europe, Asia Pacific, and the rest of the world.
North America is expected to lead the data as a service (DaaS)
market during the forecast period. North America has a large amount of
unstructured data gathering due to the digital revolution in the commercial and
industrial sectors. Furthermore, the early adoption of cloud-based deployment
services in North America has made it easier for industrial verticals to opt
for big data analytics to re-structure business functions and strategies.
With rapid advances in data as a service, Asia Pacific is expected
to expand at a significant pace during the forecast period. With the growing
acceptance of cloud-based services and tremendous opportunities across
companies in Asia Pacific countries, there is greater scope for advancement in
the data as a service (DaaS) market.
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