Data as a Service Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021Posted by Statzy Market Research on May 13th, 2021 The rapidly increasing appetite of businesses to gain a competitive advantage over the competition from the use of data coupled with the challenges of managing an increasingly complex and heterogeneous data landscape has created the right conditions for data-as-a-service (DaaS) market. - DaaS can be seen as a response to the growing quantity and variety of data generated in today’s digital environment across various verticals. Users are consuming data across a variety of systems and processes which can be employed to enhance the enterprise perspective through valuable insights. - Also, organizations are increasingly adopting real-time data analytics to gain valuable insights from these databases. However, concerns regarding the privacy and security of cloud platform which are involved in DaaS deployment can challenge the growth of the market. For sample report please visit : https://www.statzyreports.com/report/sr498341/data-as-a-service-market - The banking and financial industry is facing a critical juncture to capitalize on the opportunity created by accessing, analyzing and acting on the data generated in real-time, or risk becoming non-competitive in the market. - However, it has been observed that only big national and some regional banks are prioritizing on the need for data and analytics. It is clear that smaller banks and financial institutions are yet to get started or see significant benefit. Also, the presence of firms involved in financial analysis or stock markets is expected to be largely benefitted from data as a service, owing to the presence of products such as Bloomberg Terminal. - With the year on year growth of big data in data centers across the globe, the market is expected to witness further growth - Apart from this, as many international brands are vying to enter this region, they are incorporating social media-based promotion strategies by using data provided by various players in the market to tap into the market. - Of late, China is trying to maintain its technological edge and sustain its growth, which can result in its economy shifting to a higher value and more advanced industries, with data as one of the instrument to facilitate this shift, it is expected to drive the market forward. - Moreover, prominent organizations in the country such as Baidu has set up Beijing Big Data Lab which aims to gather data and take insights from searches and other company services. - May 2018 - Oracle announced that it has signed an agreement to acquire DataScience.com, whose platform centralizes data science tools, projects, and infrastructure in a fully-governed workspace. For sample report please visit : https://www.statzyreports.com/report/sr498341/data-as-a-service-market Like it? Share it!More by this author |