, /PRNewswire/ — According to Technavio, the global data-as-a-service market size is projected to grow by USD 56.85 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 36.92% during the forecast period. However, the growth momentum will accelerate. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 35%.
Discover some insights on market size before buying the full report. Request a sample report!
Global Data-as-a-Service Market – Five Forces
The global data-as-a-service market is fragmented, and the five forces analysis covers–
Bargaining Power of Buyers
Threat of New Entrants
Threat of Rivalry
Bargaining Power of Suppliers
Threat of Substitutes
Interpretation of Porter’s Five Forces model helps to strategize the business, for entire details – buy the report!
Global Data-as-a-Service Market – Parent Market Analysis
Technavio categorizes the global data-as-a-service market as a part of the IT services market, which covers companies offering IT consulting and system integration services, application services, electronic data processing services, business process outsourcing services, infrastructure services, and Internet services.
Find insights on parent market & value chain analysis. Download an exclusive sample!
Global Data-as-a-Service Market – Customer Landscape
The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Data-as-a-Service Market – Segmentation Assessment
Technavio has segmented the market based on end-user, deployment, and region.
The BFSI segment will grow at the highest rate during the forecast period. The use of customer analytics applications helps BFSI companies analyze their customer data, facilitates better customer targeting, enhances risk assessment and decision-making, and improves productivity. With AI innovations and integration, financial institutions can unlock customer loyalty to deliver smarter and more connected experiences across customer touchpoints. Such factors will increase the market growth during the forecast period.
By geography, the global data-as-a-service market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global data-as-a-service market.
North America account for 35% of the global data-as-a-service market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. The market in North America is driven by the increase in data generation across industries, such as retail, BFSI, healthcare, and public sectors. This is primarily due to the increase in digital transformation, such as the digitalization of workspace, access via mobile apps and websites, online transactions, online purchases and sales, and virtualization of desktops. Organizations in this region invest heavily in the latest digital technologies, such as big data analytics, mobility, cloud, and social media, to be competitive in the market.
Global Data-as-a-Service Market – Market Dynamics
Key factors driving market growth
One of the key factors driving the Data-as-a-Service market is the growing amount of data. Every second in 2020, more than 1.7 megabytes (MB) of data will be generated around the world. More than 200 zettabytes of data will be stored in cloud storage around the world by 2025, according to estimates. Furthermore, the growing volume of data generated in organizations through various channels and sources has compelled them to use DaaS in order to save money. Moreover, various DaaS-related technologies aided organizations in the transformation of unstructured and semi-structured data into structured and meaningful data.
Recent trends influencing the market
Data-as-a-Service in blockchain technology is another factor supporting the market growth in the forecast period. The Blockchain-as-a-Service (BaaS) technology helps companies to build blockchain applications that are scalable. The BaaS is decentralized; hence, the control can be shared with appropriate authorities. Furthermore, DaaS can provide the required application programming interface (APIs) to firms in order to help them build their own blockchain applications. Moreover, cases such as fraud, hacking, and unauthorized data access, can be identified by utilizing Blockchain-as-a-Service. The technology overhauls and improves security and highlights where action needs to be taken before and after a hack.
Major challenges hindering market growth
Adhering to diverse client requirements will be a major challenge for the Data-as-a-Service market during the forecast period. Several industries lack policies or frameworks to store the high volume of data, which leads to difficulties in the effective usage of DaaS solutions. As a result, it affects the market penetration of DaaS providers as their quality of service deteriorates. Furthermore, failure to understand customers’ requirements leads to potential loss of time and money. Therefore, the lack of a forward-looking policy makes it difficult for vendors to calculate and track ROI. This may hinder the value additions from service providers challenging the development of the DaaS market.
Drivers, Trends, and Challenges are the factors of market dynamics, which state about consequences and sustainability of the businesses. Find some insights from a sample report!
What are the key data covered in this data-as-a-service market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the data-as-a-service market between 2023 and 2027
Precise estimation of the size of the data-as-a-service market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the data-as-a-service market industry across APAC, North America, Europe, Middle East and Africa, and South America
Thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of data-as-a-service market vendors
Gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
The identity as a service market size is projected to grow by USD 6.80 billion with a CAGR of 18.98% between 2021 to 2026. The identity as a service market segmentation by end-user (telecom and IT, BFSI, education, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The access control as a service market size is projected to grow by USD 3.63 billion with a CAGR of 22.24% between 2021 to 2026. The access control as a service market segmentation by type (managed service and hosted service) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
Data-as-a-Service Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 36.92%
Market growth 2023-2027
USD 56.85 billion
YoY growth (%)
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 35%
US, China, India, Germany, and UK
Leading companies, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Leading Vendors, Market Positioning of Vendors
3 Step IT Group Oy, Accenture Plc, Bloomberg L.P, CHG-MERIDIAN AG, Cisco Systems Inc., CompuCom Systems Inc., Computacenter plc, CSI Leasing, Inc., Dell Technologies Inc., Dow Jones & Co. Inc., Econocom Group SE, Foxway, GreenFlex, Hewlett Packard Enterprise Co., International Business Machines Corp., Lenovo Group Ltd., Microsoft Corp., Oracle Corp., Telia Co. AB, and Wipro Ltd.
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global data-as-a-service market 2017 – 2021
4.2 End-user Segment Analysis 2017 – 2021
4.3 Deployment Segment Analysis 2017 – 2021
4.4 Deployement Segment Analysis 2017 – 2021
4.5 Geography Segment Analysis 2017 – 2021
4.6 Country Segment Analysis 2017 – 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by End-user
6.1 Market segments
6.2 Comparison by End-user
6.3 BFSI – Market size and forecast 2022-2027
6.4 Retail – Market size and forecast 2022-2027
6.5 Telecom – Market size and forecast 2022-2027
6.6 Others – Market size and forecast 2022-2027
6.7 Market opportunity by End-user
7 Market Segmentation by Deployment
7.1 Market segments
7.2 Comparison by Deployment
7.3 Cloud – Market size and forecast 2022-2027
7.4 On-premises – Market size and forecast 2022-2027
7.5 Market opportunity by Deployment
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America – Market size and forecast 2022-2027
9.4 Europe – Market size and forecast 2022-2027
9.5 APAC – Market size and forecast 2022-2027
9.6 South America – Market size and forecast 2022-2027
9.7 Middle East and Africa – Market size and forecast 2022-2027
9.8 US – Market size and forecast 2022-2027
9.9 China – Market size and forecast 2022-2027
9.10 Germany – Market size and forecast 2022-2027
9.11 India – Market size and forecast 2022-2027
9.12 UK – Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 3 Step IT Group Oy
12.4 Accenture Plc
12.5 CHG-MERIDIAN AG
12.6 Cisco Systems Inc.
12.7 CompuCom Systems Inc.
12.8 CSI Leasing, Inc.
12.9 Dell Technologies Inc.
12.10 Econocom Group SE
12.12 Hewlett Packard Enterprise Co.
12.13 International Business Machines Corp.
12.14 Lenovo Group Ltd.
12.15 Microsoft Corp.
12.16 Telia Co. AB
12.17 Wipro Ltd.
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View original content to download multimedia:https://www.prnewswire.com/news-releases/data-as-a-service-market-2023-2027-a-descriptive-analysis-of-parent-market-five-forces-model-market-dynamics-and-segmentation—technavio-301695571.html