Data as a Service (DaaS) Market is projected to grow from USD 21.0 Billion in 2024 to USD 75.2 billion by 2032

MRFR Press Release/- Market Research Future published a half-cooked research report on data as a service market

Market Scenario:

Data as a service 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. Data as a Service (DaaS) Market is projected to grow from USD 21.0 Billion in 2024 to USD 75.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.23% during the forecast period (2024 - 2032).

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, 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.