Harrisburg, NC -- (SBWIRE) -- 01/29/2019 -- The report elaborates the complete details covering product definition, product type, and application. The report covers useful details which are categorized based on Big Data As A Service production region, major players, and product type which will provide a simplified view of the Big Data As A Service industry. The Big Data As A Service market report presents the competitive scenario of the major market players based on the sales revenue, customer demands, company profile, the business tactics used in Big Data As A Service market which will help the emerging market segments in making vital business decisions.
The big data as a service market is expected to witness a CAGR of 15.73% during the forecast period (2018 - 2023) and is estimated to the reach the value of USD 38.06 billion by 2023.
Big Data As A Service Market Segmentation:
This report on Global Big Data As A Service market is a detailed research study that helps provides answers and pertinent questions with respect to the emerging trends and growth opportunities in this industry. It helps identify each of the prominent barriers to growth, apart from identifying the trends within various application segments of the Global market for Big Data As A Service. Collecting historical and recent data from various authentic resources and depending on all the factors and trends, the report presents a figurative estimate of the future market condition, along with compound annual growth rate (CAGR).
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Global Big Data As A Service market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including IBM CORPORATION, MICROSOFT CORPORATION, ORACLE CORPORATION, SAP SE, HEWLETT-PACKARD COMPANY, CISCO SYSTEMS INC., and SAS INSTITUTE, amongst others.
Emphasis on Analytics Drives the Growth for Big Data Analytics in the Banking Sector
There has been an unprecedented explosion of data in the BFSI industry, which can be turned into actionable insights if analysed. Additional factors, such as depleting operational efficiency and the increasing operational costs, along with the ability to predict the outcome of a particular event have all emphasized on the need for big data analytics. The use of analytics by many banks are already underway such data driven decisions are further expected to improve the customer relationship and experience in turn contribution to sales for the banks. Such analytics insights obtained are useful for various applications, such as Fraud detection, application screening, which emphasizes the need for accurate variables in case of predictive analytics. This further helps in optimizing the target selection various activities, such as loanee selection and business to invest in etc. One of the most primary function of such analytics tools is fraud detection as many of the banking industries primary concern is fraud, big data analytics helps in judging the chances of fraud for a particular person.
APAC is Expected to Have High Adoption Rate Owing to Rise in Services Sector
Rapid technological developments in the information technology sector and increasing business operations mark Asia-Pacific (APAC) as the most important market for Big Data in banking during the forecast period. The biggest contributors to this market are China and India that account for most of the revenue in the APAC region. Many organizations in the APAC region are increasingly depending on digital systems to realize their goals. Several vendors such as SAP and IBM provide wide-range of Big Data analytics services to banks in the region. Some of the core capabilities of these services include real-time monitoring, big cloud services, and other customized dashboards for easier retrieval of data to ease the workflows. These tools enable organizations for on-the-resource planning and offer modified plans to aid decision-making.
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This independent 107 pages report guarantees you will remain better informed than your competition. With over 80 tables and figures examining the Big Data As A Service market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader's market revenue forecasts as well as analysis to 2023.
Key Developments in the Market
- November 2017 - IBM, Packet Clearinghouse (PCH), and The Global Cyber Alliance (GCA) launched a free service designed to give consumers, and businesses added privacy and security protection as they access the internet. The new Quad 9 Domain Name System (DNS) service helps protect users from accessing millions of malicious internet sites known to steal personal information, infect users with ransom ware and malware, or conduct fraudulent activity
Reasons to Purchase this Report
- Impact of low unit costs, diversified product ranges and intense competition on the market
- Analyzing various perspectives of the market with the help of Porter's five forces analysis
- Regional analysis of the market
- Identifying the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
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