Dec 06, 2019 (AB Digital via COMTEX) -- Data as a Service (DaaS) Market 2019
Data as a Service (DaaS) is a knowledge and delivery system in which data files are made available through a network to customers. Data as a Service (DaaS) is essentially part of the broader cloud strategy to enable safe and inexpensive availability of business-critical data. In the forecast period from 2019 to 2024, information as a service market is expected to grow CAGR of 10 percent. The growing need of global companies to obtain a competitive edge over the competition through the use of information. This information is a combination of various data complexities in terms of data handling and a heterogeneous data environment that has created the right conditions for the data-as - a-service (DaaS) market.
Market by Top Data as a Service (DaaS) Companies, this report covers
• 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.)
• LexisNexis Corporation (U.S.)
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The concept of Data as a Service (DaaS) is based on the concept of cloud deployments. It can be deployed on cloud platforms hybrid, public, or personal. It is experiencing a rapid increase in its adoption due to the benefits provided by cloud computing.
Demand for cloud computing is expected to rise to USD 160 billion by 2020, a 19 percent growth rate. DaaS can be seen growing in quantity and variety, being generated across several verticals in today's digital world. Users collect information across a multitude of systems and processes that can be used by valuable insights to improve the company's perspective.
In addition, companies are rapidly embracing data analytics in real-time to gain valuable insights from these repositories. Concerns regarding cloud platform privacy and security that are involved in DaaS deployment, however, can threaten Data as a Service (DaaS) market growth. It is expected that the convergence of big data analytics across industries and the permeation of bring-your-own-device or BOYD in several sectors will provide momentum as a service market for global data. Nevertheless, growing cybercrimes and lack of operational awareness can dissuade expected information as a rate of growth in the service sector.
The global Data as a Service (DaaS) market is segmented by Deployment Model, Pricing model and End User model.
The market by Deployment Model is further segmented into:
The market by Pricing Model is further split into:
Volume Based Model
Quantity Based Pricing
Pay as Per Use
Data Type Based Model
Based on End User model, the market is segmented into:
IT and Telecommunications
Retail and Consumer Goods
Health Care and Life Sciences
Oil and Gas
Geographically, the global the DaaS market spans across North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. North America has been the leading segment. Market growth in the Asia Pacific region is directly related to the growth of this region's end-user industries. India's government uses data for different purposes, such as estimating the country's trade, analyzing unreserved rail passengers, analyzing urbanization, among others.
Several international firms are trying to enter the South Asia market. They are implementing data-based marketing campaigns on social media through the use of data provided by different market players helping them to tap into the market. China as well is making efforts towards maintaining its edge technologically to sustain its growth. This can lead to a change of its economic mix to higher value and more mature industries. As data is one of the major tools to encourage this shift, it is expected to drive the market forward for China and the South Asia.
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Table of Contents –Analysis of Key Points
1 Data as a Service (DaaS) Market Overview