Data as a Service Market, Deployment (Public, Private, Hybrid), Organization Size (SME, LE), End User (BFSI, Healthcare, Retail, IT & Telecom), Pricing Model (Volume-Based Model, Data Type-Based Model), Solution, Professional Services — Forecast till 2023
Market Highlights
Data as a service market is crudely summarized as collection, integration, curation, contextualization, enrichment, aggregation and analysis of multi-structured data. The companies providing DaaS services focus entirely on collating and compiling the necessary data into relevant streams. This helps the user to access the streams whenever required, eliminating the need for in-house commitment to data and allowing businesses to perform with greater agility since they can effortlessly get the exact data they need.
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Key players
The prominent players in the market of data as a service are - Microsoft Corporation (U.S.), IBM Corporation (U.S.), Facebook, Inc. (U.S.), Fair Isaac Corporation (U.S.), Alibaba Group Holding Limited (China), Google 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.), and LexisNexis Corporation (U.S.).
Other players in the market include comScore, Inc. (U.S.), Dow Jones & Company, Inc. (U.S.), Equifax, Inc. (Canada), Experian plc (Ireland), Acxiom Corporation (U.S.), FirstRain, Inc. (U.S.), Twitter, Inc. (U.S.), Verizon Communications, Inc. (U.S.), SAS Institute Inc. (U.S.), and EMC Corporation (U.S.).
Regional Analysis
The global market for data as a service is estimated to grow at a significant rate during the forecast period 2018 – 2023. The geographical analysis of data as a service market is covered for the regions such as North America, Europe, Asia Pacific, and rest of the world. Due to technological advancements in North America, the region is expected to lead the market during the forecast period. Also, owing to the developed and well-established economies, the companies in North America are majorly investing in research and development activities.
U.S. based company Salesforce has acquired application network platform MuleSoft as part of the company's effort to expand its ecosystem into cross-platform application management. The Salesforce Integration Cloud is a unified platform useful for small businesses to maintain multiple cloud systems and apps through different portals as they scale their businesses to various geographies.
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Data as a Service Market, Deployment (Public, Private, Hybrid), Organization Size (SME, LE), End User (BFSI, Healthcare, Retail, IT & Telecom), Pricing Model (Volume-Based Model, Data Type-Based Model), Solution, Professional Services — Forecast till 2027Market HighlightsAccording to Market Research Future (MRFR), the global data as a service (DaaS) market is projected to achieve USD 12 billion at a CAGR of 39% from 2020 to 2027 (forecast period).
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.Market DynamicsThe 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.
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.
DaaS (Desktop as a Service) has emerged as a viable and comprehensive solution for enterprises.DaaS deployment and management, typically, is a specialized task requiring a complex set of skills and resources.
OverviewThe device as a service (DaaS) market is anticipated to grow by US$190,163.8 Million by 2026 rapidly growing at a CAGR of 55.8% during the forecast period.
The global device as a service (DaaS) market is driven by rapid adoption of subscription-based services and reduction in help desk volume.
These factors have helped shape the device as a service (DaaS) market and are expected to boost the growth.
Companies in the Device as a Service Market could also face challenges such as low investments in developing IoT solutions and lack of a solid cloud infrastructure.
device as a service (DaaS) market analysts have also shared growth projections in the report and have suggested device as a service (DaaS) market players to plan growth strategies accordingly.Market SegmentationThe global device as a service (DaaS) market has been segmented based on organization size, component, and vertical.
The performance of device as a service (DaaS) market has also been studied for the past and current years.
Device as a Service (DaaS) Market OverviewThe device as a service (DaaS) market is anticipated to witness healthy growth from 2020 - 2027, a research report suggests.
During the forecast period, the market will be supported by elimination of device purchases and adoption of IoT.Customers choosing their own models on the other hand will challenge computing technologies sector based organizations functioning in the global device as a service (DaaS) market.
The computing technologies sector itself is supported by the penetration of IoT in large enterprises as well as high demand across industry verticals.
The market is further segmented into components sub segment which is split into hardware, solution [software] and services [professional services and managed services].
But the report also identifies the lack of investments in R and the growing penetration of alternatives in the market as major threats companies in computing technologies will face till 2027.
Device as a Service (DaaS) Market Regional OverviewComputing technologies market based companies in the device as a service (DaaS) market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world.
