Big Data as a Service Market Analysis
The big data as a service market is set to witness a spend growth of nearly USD 20 billion with spend momentum to accelerate at a CAGR of more than 14% between 2019-2024. This spend growth will be primarily attributed to the extensive adoption of IoT by buyers in the manufacturing and healthcare industries that are generating large volumes of data. Buyers are preferring to adopt hybrid cloud solutions in their business operations to safeguard the confidential and security-sensitive business data. This will create demand growth in the big data as a service market to a significant extent.
Top Spending Regions in the Big Data as a Service Market
In terms of spend share, the developed nations will gain prominence in the global big data as a service market during the forecast period.
North America
The concentration of large multinational manufacturing, transportation, logistics, and automobile organizations is chiefly driving demand in this region. High technological awareness, availability of highly skilled employees, and the presence of established infrastructure facilities for enabling cloud computing are some of the factors that will continue contributing to spend growth in the big data as a service market in North America.
Europe
The rise in the amount of machine-generated data with increasing penetration of connected devices such as mobiles, tablets, and laptops are driving the demand in this region. Buyers in the healthcare sector are adopting wearable fitness tracking devices which is creating the requirement to engage this service in Europe, thereby spend growth in the market.
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What are the Key Price Trends in this Market?
- Big data as a service providers are accounting for a major expense on hardware infrastructure that is required to provide BDaaS. This will cast an impact on buyer’s procurement expense in this market.
- Factors such as the rise in the standard of living, inflation, and scarcity of skilled workforce will result in a sharp rise in employee costs borne by service providers in this market. These costs tend to vary from one region to another as per the regulated pension plans and are mainly governed by actuarial and economic assumptions
- It is imperative for service providers to engage in R&D activities to set their products apart in the competition in terms of innovation and functionality. This will result in significant additions to their R&D costs that will ultimately impact buyer’s procurement expense in this market.
Download the free sample of this report to know what the key big data as a service procurement best practices that you must adopt to address price dynamism in this market.
Insights Offered in this Big Data as a Service Market Report
- Global and regional spend potential for the big data as a service market for the period of 2019-2024
- Supplier relationship management practices in the big data as a service market
- Supplier margins and selection criteria in the big data as a service market
- Top big data as a service providers their cost structures
- Top big data as a service providers in the US and their cost structures
- Big data as a service market spend analysis in the US
- Big data as a service price trends, and forecasts
- Cost drivers influencing the big data as a service prices
Insights into Big Data as a Service Supply Market
- The supply scenario in the category is balanced as it is an emerging market having global technology MNCs catering to the increasing demand for core, performance, and featured BDaaS solutions.
- The influence of APAC on the global market in terms of demand and supply is expected to grow in the coming years. Rapid development in IT and power infrastructure coupled with growing investments by telecom and IT companies in the category will help the region to increase its influence.
- It is advised that buyers ask for a detailed account of service providers’ data protection capabilities. In addition, buyers should inquire with service providers about redundancies that are available during instances of outages.
Insights into Some of the Leading Big Data as a Service Providers
This big data as a service market procurement intelligence report has enlisted the top service providers and their cost structures, SLA terms, best selection criteria, and negotiation strategies for the top big data as a service providers. The top big data as a service providers highlighted in this report include:
- International Business Machines Corp.
- Profile: Amazon.com Inc.
- Microsoft Corp.
- Profile: Oracle Corp.
- Alphabet Inc.
- SAP SE
Criteria to select suppliers in this dynamic big data as a service market is subject to change based on the day-to-day market outlook. Get a free demo of our procurement platform to gain immediate access into real-time insights to the changing suppliers selection criteria.
