Data as a Service (DaaS) Market 2021 Analysis by Key Players, End-User, Type, Application, Regions and Forecast to 2030 | Says Kenneth Research

In a recent published report, Kenneth Research has updated the market report for Data as a Service (DaaS) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Data as a Service (DaaS) Market products.

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The Data as a Service (DaaS) Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

Market synopsis

Businesses are in need of new capabilities to sustain in the market and create a competitive advantage for themselves. Due to rapid changes in technology, the enterprises are shifting towards cloud-based services to help their businesses to reduce the cost of building, running, and protecting applications, thus, accelerating business agility.Data as a service (DaaS) is a model that provides data on demand to the users irrespective of the geography or organization separation of provider and consumer. DaaS is a cost-efficient, responsive service that lets businesses focus on selling their products, rather than sourcing, managing, and activating data.

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The factors responsible for driving the market are growing adoption of big data analytics across different industry verticals and rising demand for real-time data analytics. Moreover, the market is also driven by increased adoption of cloud-based services in enterprises. Initiatives such as Bring Your Own Device (BYOD) and enterprise mobility are the major opportunities in data as a service (DaaS) market. The market is also facing a few challenges including data theft and cyber-attacks, and lack of technical expertise in data as a service (DaaS), which can potentially hinder the market growth.Cloudera has expanded its Altus Data Science platform as a service offering to the Azure cloud. This development will preserve the business metadata and security, and governance policies so they can be implemented across data processing and data analytics workload in the cloud.


By deployment, the market is segmented into public cloud, private cloud, and hybrid cloud.By organization size, the market is segmented into small and medium enterprise, and large enterprise.By end user, the market is segmented into BFSI, healthcare, retail, manufacturing, media & entertainment, transportation, IT & telecom, and others.By pricing model, the market is segmented into volume-based pricing model and data type-based pricing model. Volume-based pricing model includes quantity based pricing and pay per use pricing.By solution, the market is segmented into disaster recovery and backup solution, test data management, data warehousing, data migration, and others.By professional services, the market is segmented into implementation & deployment, support & maintenance, and consulting.

Regional Analysis

The global market for data as a service (DaaS) is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of data as a service market is studied for North America, Europe, Asia Pacific, and the rest of the world.

North America is expected to dominate the data as a service (DaaS) market during the forecast period. North America features a significant amount of unstructured data gathering due to digital revolution across the commercial and industrial sector. Moreover, the early adoption of cloud-based deployment services in North America has made it easier for the industrial verticals to opt big data analytics to re-structure business functions and strategies.

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Also with the rapid advancement in data as a service, Asia Pacific is expected to grow at a significant pace during the forecast period. Due to increasing adoption of cloud-based services and enormous opportunities across businesses in the Asia Pacific countries, there is better scope for advancement in the data as a service (DaaS) market.The data as a service (DaaS) market is expected to grow at a CAGR of 39% and reach 12 Billion by the end of 2023.

Key players

The prominent players in the market of data as a service are – Microsoft Corporation (U.S.), IBM Corporation (U.S.), Facebook, Inc. (U.S.), Fair Isaac Corporation (U.S.), Alibaba Group Holding Limited (China), Google Inc. (U.S.), Oracle Corporation (U.S.), Bloomberg Finance L.P. (U.S.),, Inc. (U.S.), LinkedIn Corporation (U.S.), Mastercard Advisors LLC (U.S.), and LexisNexis Corporation (U.S.).

Other players in the market include comScore, Inc. (U.S.), Dow Jones & Company, Inc. (U.S.), Equifax, Inc. (Canada), Experian plc (Ireland), Acxiom Corporation (U.S.), FirstRain, Inc. (U.S.), Twitter, Inc. (U.S.), Verizon Communications, Inc. (U.S.), SAS Institute Inc. (U.S.), and EMC Corporation (U.S.).

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Prominent market players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.

Intended Audience

Open source and proprietary data collections and providers

Developing DaaS capabilities

Data creation, aggregation, and enrichment

Data Marketplaces

Data monetization, including packaging, pricing, and channels

DaaS use cases

Training data for cognitive/AI solutions

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