Big Data as a Service (BDaaS) Market to Grow to USD 100 Billion by 2027

Strategic Insights -

The Big Data as a Service (BDaaS) market size is estimated to grow from USD 12 Billion in 2020 to USD 100 Billion by 2027, at a Compound Annual Growth Rate (CAGR) of 35.4% during the forecast period from 2021 to 2027. The growing demand in industries to gain actionable insights and growing organizational data across industries due to digitalization and automation of business processes are expected to drive the growth of the BDaaS market.

Key Takeaways:

  • The BDaaS market by component includes solutions and services, with the solutions segment expected to hold a larger market size during the forecast period.
  • The public cloud segment is expected to hold the largest market size due to its cost-efficiency and the ability to provide enhanced security.
  • Large enterprises are expected to hold a majority of the market share during the forecast period due to their emphasis on gaining valuable insights from big data.
  • North America is expected to account for the largest market size during the forecast period due to the presence of a large number of BDaaS vendors and the inclination of American companies to leverage advanced technologies.
  • The key players in the BDaaS market include IBM, Oracle, Microsoft, Google, AWS, SAP (Germany), Teradata, SAS, Dell Technologies, HPE, CenturyLink, Splunk, Cloudera, Salesforce, Qubole, GoodData, Hitachi Vantara, IRI, 1010data, and Guavus.
  • The adoption of BDaaS solutions among large enterprises is high due to their emphasis on extracting and leveraging insights from big data to gain a competitive edge.
  • The growing demand for BDaaS solutions is driven by the increasing need for organizations to analyze and extract insights from massive volumes of data generated across various departments.
  • The key market transformations expected during the forecast period include the increasing adoption of cloud-based analytics and the growing emphasis on leveraging big data analytics to gain valuable insights.

Statistics:

  • The Big Data as a Service (BDaaS) market size is estimated to grow from USD 12 Billion in 2020 to USD 100 Billion by 2027.
  • The CAGR of the BDaaS market is expected to be 35.4% during the forecast period from 2021 to 2027.
  • The solutions segment of the BDaaS market is expected to hold a larger market size during the forecast period, accounting for approximately 65% of the market.
  • The public cloud segment of the BDaaS market is expected to hold the largest market size due to its cost-efficiency and the ability to provide enhanced security, accounting for approximately 55% of the market.
  • The large enterprises segment of the BDaaS market is expected to hold a majority of the market share during the forecast period, accounting for approximately 60% of the market.

Sources:

  • MarketDigits research report on the Big Data as a Service (BDaaS) Market, published in 2021.
  • IBM Corporation, Oracle Corporation, Microsoft Corporation, Google LLC, Amazon Web Services, and SAP SE, among other sources.
  • MarketDigits is one of the leading business research and consulting companies that helps clients to tap new and emerging opportunities and revenue areas.