The Global Data as a Service Market Revenue to Reach $1.81 Billion by 2023
Bangalore, India – September 21, 2018: With its recently published study “Global Data as a Service Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts that the market for DaaS will continue to grow owing to the demand for rising volume of data with enterprises, demand for data-driven decision making, increasing demand for long-term data retention, and demand for technology-driven marketing decisions.
According to Infoholic Research, global DaaS market is expected to be adopted across the industries to handle huge amounts of unstructured data collected from multiple business units present across the globe. DaaS enables business agility, cost-effectiveness, data quality and elastic capacity to enterprises by synchronizing business processes and analytical tools. The core functionality of DaaS is to offer centralized data management services with real-time insights, it also focuses on disaster recovery and long-term data retention. Also, DaaS helps marketing and sales departments with efficient customer profiling.
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Currently there are a few hundreds of DaaS users across the globe. The market has witnessed an increasing adoption of DaaS from medium sized vendors, as it offers metadata management and data integration services. However, vendors in this market are forming their enterprise Data as a Service strategies by leveraging real-time enterprise analytics and operational transparency.
Leading cloud vendors, namely Oracle, Microsoft, Amazon, and Google are enabling DaaS among enterprises. Among these, Oracle is expected to become a market leader, having over 1500 data partners. Vendors namely, REaD Group and Actifio Inc. are offering industry specific DaaS platforms. These vendors are offering cost-effective hybrid cloud approach by focusing on disaster recovery services.
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Over 80% of the vendors in this market are small and medium sized companies, which are serving a wide range of industries. These vendors are focusing on healthcare, manufacturing, automobile, and retail industries owing to the increasing demand for centralized data management and real-time insights. However, governments and tourism sectors are expected to become lucrative for these vendors owing to the massive amounts of unstructured data they currently have.
“Regulatory challenges such as GDPR is expected to stimulate DaaS market for the consumers and vendors who have global presence. However, enterprises are expected to come up with GDPR supported DaaS solutions which can push the demand for DaaS among small and medium enterprises” – Srujan, Research Analyst at Infoholic Research
The report covers the current market scenario and growth prospects of the global data as a service market during the forecast period 2018–2023. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- Segments: Storage, Tools & Analytics, and Solutions
- Industries: Retail, Healthcare, BFSI, Telecom, Manufacturing, and Automotive
- Regions: Americas, Europe, APAC, and MEA
The report contains an analysis of vendor profiles, which includes financial health, business units, key business priorities, SWOT, strategies, and views.
Ms. Sunanda Ganguli
Infoholic Research LLP