Pune, India, September 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Data As A Service (Daas) Market.
The need for responsive and cost-effective services service is boosting the data as a service (DaaS) market. Reports that explore the information and communication technology industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is anticipated to take advantage of a CAGR of 39 % roughly and reach USD 12 billion by the end of 2023.
The amplified adoption of cloud-based services is expected to motivate the data as a service (DaaS) market. Moreover, the improved penetration of bring your own device (BYOD) in global devices is anticipated to propel the market for data as a service (DaaS). The need to boost the business metadata and security is encouraging the data as a service (DaaS) market in the forecast period.
The segmentation of the data as a service (DaaS) market is segmented on the basis of deployment, organization size, end-user, pricing model, pricing model, solution and professional services. On the basis of deployment, the data as a service (DaaS) market is segmented into private cloud, public cloud, and hybrid cloud. Based on the organization size, the market fo data as a service (DaaS) is segmented into large enterprise and small and medium enterprise. By end-users, the data as a service (DaaS) market is segmented into healthcare, manufacturing, BFSI, retail, media & entertainment, IT & telecom, transportation, and others. On the basis of the pricing model, the data as a service (DaaS) market is segmented into data type-based pricing model and volume-based pricing model. The volume-based pricing model comprises of pay per use pricing and quantity-based pricing. Based on solution, the data as a service (DaaS) market is segmented into test data management, data migration, disaster recovery and backup solution, data warehousing, and others. On the basis of professional services, the market for data as a service (DaaS) is segmented into support & maintenance, implementation & deployment, and consulting.
Detailed Regional Analysis
The regional analysis of the data as a service market covers regions like North America, Europe, APAC, and the rest of the world. The North American region is projected to rule the data as a service (DaaS) market through the forecast period. The North American region features a noteworthy amount of unstructured data gathering owing to digital revolution across the industrial and commercial sector. Furthermore, the initial adoption of cloud-based positioning services in the North American region has made it simpler for the industrial verticals to choose big data analytics to re-structure business roles and policies. Also, the speedy progress in data as a service, the Asia Pacific region is projected to multiply at a significant pace through the forecast period. Owing to the budding implementation of cloud-based services and huge openings across businesses in the Asia Pacific nations, there is enhanced scope for advancement in the data as a service (DaaS) market.
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The expansion of the resources required to withstand against competition has enhanced significantly leading to a record progress rate. The motive of properly bolstering the global economy is being driven through the development of this market as well. The global administrations have also contributed substantially towards the development of the market in current years. The rise of sponsors in the market has put on an essential role in the advancement of the market. The decrease in the barriers to trade is anticipated to extend innovative areas for development in the forthcoming years. Also, the competition being noticed in the market is not unfavorable to the distinct player’s progress in the market. The market is well equipped to navigate the shifting tides, abrupt upheavals, and unexplored waters in the global economy. The fiscal inflows in the market are being focused towards growing the inventions in the central product offering presented in the market so that the development doesn’t go off in the approaching period. The market has obtained an incremental stride in the past few years, which is emphasized by the accomplishments in terms of valuation.
The market for data as a service (DaaS) has prominent players such as IBM Corporation (U.S.), Fair Isaac Corporation (U.S.), Google Inc. (U.S.), Oracle Corporation (U.S.), Bloomberg Finance L.P. (U.S.), Microsoft Corporation (U.S.), Salesforce.com, Inc. (U.S.), LinkedIn Corporation (U.S.), Facebook, Inc. (U.S.), Alibaba Group Holding Limited (China), Mastercard Advisors LLC (U.S.), and LexisNexis Corporation (U.S.).