According to the research report titled ‘GLOBAL Big Data As A Service Market 2019-2027’, available with Market Study Report, global big data as a service industry size is slated to grow at an annual rate of 14.96% CAGR during 2019-2027.
 

As per the research findings, rising adoption of cloud technology by organizations and public, increasing penetration of industrial IoT devices, and surging requirement for improving efficiency of business are the major growth promoters of global big data as a service market. Moreover, proliferating utilization of internet of, along with stringent financial regulations and government compliance are adding considerable traction to the industry progression.
 

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For the uninitiated, Big Data involves the creation, accumulation, utilization, and analysis of large and complex data sets which is not possible through traditional applications.
 

Elaborating on the factors hindering global big data as a service industry expansion, lack of awareness among enterprises regarding the benefits of the technology is expected to hamper business development in the upcoming years. Moreover, security concerns and data integration complexities are negatively impacting the technology adoption.
 

Based on deployment, global big data as a service market is fragmented into cloud deployment and on-premise deployment. In terms of end-user, the industry is categorized into BFSI, retail, healthcare, energy and power, IT & telecommunication, manufacturing, and others. Moving on, the organization size segmentation comprises small-medium business and large enterprise.
 

From a geographical perspective, North America (United States, Canada), Europe (France, Italy, Spain, Germany, Russia), Middle East & Africa (Saudi Arabia, United Arab Emirates, Turkey, South Africa), Latin America (Brazil, Mexico) and Asia Pacific (India, South Korea, Japan, Australia & New Zealand, ASEAN countries) are the top contributors to the overall global big data as a service market development.
 

Speaking of the competitive arena, Google LLC, Amazon Web Services Inc., Hewlett Packard Enterprise Company, Microsoft Corp., Guavus Inc., ElectriAi (formerly Opera Solutions), Alteryx Inc., SAS Institute Inc., Information Builders, SAP SE, Wipro Ltd., Oracle Corp., and IBM Corp. are top contenders in the industry.