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With 25.5% CAGR, Global Big Data as a Service Market Size Worth USD 150.78 Billion In 2028| Amazon Web Services Inc., Hewlett Packard Enterprise, IBM Corporation
The Global Big Data as a Service Market Was Estimated At USD 30.75 Billion In 2021, And Is Projected To Reach USD 150.78 Billion By 2028, Growing At A CAGR Of 25.5% Over The Analysis Period.
Using Big Data-as-a-Service is the provision of data or tools for statistical analysis by an outside supplier that aids firms in comprehending and utilizing insights from sizable data sets in order to achieve a competitive edge. Governments are also encouraging the use of open data technology. For instance, the cities of Buenos Aires, Argentina; La Libertad, Peru; and Sao Paolo, Brazil, have vowed to promote government transparency and have encouraged novel ways for people to participate in society. Organizations like ABRELATAM, the Inter-American Development Bank, and the Latin America Open Data Initiative are working throughout Latin America to grow open data initiatives that lessen corruption, improve health service delivery, strengthen city resilience, and reduce violence against women.
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Market Dynamics:
Driver:
Global Big Data Expansion Is Enormous
Due to the growth of social media, the Internet of Things (IoT), and multimedia, which have generated an overwhelming flow of data in either structured or unstructured format, the amount of data that enterprises collect is continuously rising. For instance, just the past two years have seen the creation of over 90% of the world's data. The growth rate of machine-based and human-generated data is generally ten times greater than that of traditional business data.
Opportunities:
The market opportunity for Big Data-as-a-Service is highlighted by the top influencing variables during the projected period. Big data's rapid global expansion, rising demand for real-time data analytics, government programs supporting big data infrastructure, and an increase in the use of predictive modelling tools are all anticipated to spur market expansion. The market for Big Data-as-a-Service is also anticipated to experience significant growth potential in the future years as a result of enterprises' massive investments in the IT industry.
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Market Segmentation Of Big Data As A Service Market
By Solution Type
• Hadoop-as-a-Service
• Data Analytics-as-a-Service
• Data-as-a-Service
By Deployment Type
• Public Cloud
• Private Cloud
• Hybrid Cloud
By End Use Industry
• IT & Telecom
• Food & Beverage
• BFSI
• Logistics
• Healthcare
• Defense
• Others
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Regional Analysis Of the Big Data as a Service Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
Key Players For The Big Data as a Service Market
• Amazon Web Services Inc.
• Hewlett Packard Enterprise
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• SAP SE
• SAS Institute Inc.
• Teradata Corporation
• Google Inc.
• Salesforce
• Hitachi Vantara
• CenturyLink Inc.
• Wipro Limited
• Snowflake Inc., And Other Major Players
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Key Industry Developments In The Big Data as a Service Market
In July 2021, IBM announced the acquisition of Bluetab Solutions Group, S.L. in order to expand its portfolio of data and hybrid cloud consulting services. Bluetab will be integrated into IBM's data services consulting practice to help the company advance its hybrid cloud and AI strategy.
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