Big Data Service Market is considered as the delivery of statistical analysis information from a third party or a service provider that helps the organization to understand the insights with an objective to achieve competitive advantage. Global data as a service market is growing at a faster pace owing to the increasing demand for statistical analysis since the massive amount of unstructured data is generated almost at regular interval of time from the various organization. The organizations outsource the big data service to manage the large data rather than doing it in-house. The big data as a service is often offered by various ways, for instance, big data analytics software as a service, as data fabric which includes data management and the data the aggregation. It can also be offered as data platform service which mostly covers the analytical programming, and also as cloud infrastructure. The big global data as a service market is expected to grow at significantly high CAGR owing the robust demand for service offerings.
Global Big Data Service Market: Drivers and Restraints
Global big data service market is primarily driven by the increasing requirement of structured data for analysis which helps the organizations to achieve targets and grow at a faster pace. The demand for data science and predictive analysis is increasing which boosts the big global data as a service market. The conclusions driven by the use of big data are accurate with novel insights when compared to traditional analytics is also one of the factors driving the big global data as a service market. Moreover, the expansion of big data analytics, covering data from intelligent systems such as smart meters, in-vehicle infotainment, sensors, etc. further boosts the big global data as a service market. The current growth of cloud computing is also expected to impulse the big data as service market owing to its flexibility in delivery models which is mostly considered as the best approach for business users.
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Global Big Data Service Market: Segmentation
On the basis of solution type, big data service market is segmented into:-
Data Analytics-as-a-Service (DAaaS)
On the basis of deployment model type, big data service market is segmented into:-
On the basis of platform type, big data service market is segmented into:-
On the basis of end use industries, big data service market is segmented into:-
Banking & Financial Services
Energy & Utilities
Media & Entertainment
Global Big data service Market: Region wise Outlook
The big global data as a service market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and the Middle East and Africa (MEA). North America is holding majority of the share in the big global data as a service market owing to the presence of establishes players such as Microsoft Corporation, Hewlett-Packard Enterprise Development LP, International Business Machines Corporation, etc. The big data as a service market in APEJ is expected to grow at moderately high CAGR owing to increasing investments in various business sectors in the region which will require significant data to analyze.