Published February 1, 2023
Big Data as a Service (BDaaS) Market
According to Persistence Market Research, the Big Data as a Service (BDaaS) market is expected to grow from $222.6 billion to $247.7 billion between 2022 and 2032, at a CAGR of 25.7%. The convergence of big data analytics technology and cloud computing platforms has created Big Data as a Service (BDaaS). This is a web- or cloud-based analytics capability provided by BDaaS for processing large and complex information.
Both the growing demand for big data across industries and the growth of data brought about by digitization and automation are driving the market demand for BDaaS. Another factor expected to spur market expansion during the forecast period is the increase in connected devices worldwide. End-user industries are adopting devices linked to commercial and production activities such as government, media & entertainment, retail, BFSI, and manufacturing.
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Other factors fueling the growth of the BDaaS market include increasing demand in the industry for digitization and automation of business processes to yield actionable insights and growing organizational data across industries.
Moreover, rising demand for real-time data analytics is another factor boosting the growth of the market during the analysis period. Additionally, increasing adoption of predictive modeling tools, increasing government initiatives to support big data infrastructure, growing data through digitization and automation, and increasing industry demand for deriving actionable insights from big data. These factors are working in favor of the market growth during the analysis period.
- Based on component, the solutions category of the BDaaS market is expected to grow at the fastest CAGR of 25.0% during the forecast period.
- Public cloud is expected to grow at a high rate in the deployment sector of the BDaaS market, at a CAGR of 25.0% during the forecast period.
- The US BDaaS market is expected to be worth US$88.4 billion by 2032, at a CAGR of 25.5% during the forecast period.
- The market size of BDaaS in China is expected to reach US$17.8 billion by 2032, growing at a CAGR of 25.0% during the study period.
- The UK is expected to reach a market size of US$10.2 billion in the BDaaS market by 2032, at a CAGR of 24.2% during the study period.
- The market size of BDaaS in Japan is expected to reach USD 14.4 billion by 2032, growing at a CAGR of 23.8% during the study period.
- By 2032, South Korea is expected to reach a market size of USD 9 billion in the BDaaS market, with a CAGR of 23.0% during the study period.
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Major players such as IBM Corporation, Hewlett Packard Enterprise, and Oracle Corporation are expected to dominate the market share in terms of revenue. This advantage is due to increased investment in developing advanced BDaaS to serve industries such as manufacturing, BFSI, and healthcare.
In November 2020, Snowflake Inc. launched Snowpark (big data service), an advanced big data service with features such as audio, video, PDF, and unstructured data such as row access policies to help data Extend your cloud capabilities.
In November 2019, Google Cloud collaborated with Deloitte Touché Tohmatsu Limited to provide advanced cloud computing solutions and services, creating significant opportunities for big data applications.
In October 2018, IBM announced its decision to acquire Red Hat Inc. for US$34 billion. With this acquisition, IBM will become the world’s number one hybrid cloud provider, offering enterprises the only open cloud solution that can unlock the full value of the cloud for their business.
Hadoop as a Service (HDaaS)
Data Analytics as a Service (DAaaS)
By deployment type
By organization size
Small and medium-sized enterprises
Information Technology (IT) and Telecom
Healthcare and life sciences
e-commerce and retail
media and entertainment
Middle East and Africa
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