Definition of Data-As-A-Service (Daas)

Data as a Service (DaaS) is a cloud service that is widely used to ensure the availability of critical data in a cost-effective and convenient manner to businesses. It can be used by the user to access a particular data on demand irrespective of the organization’s geographical and structural barriers. Data as a Service model works on the principle of offloading the load and risks associated with Data Management to a third-party Cloud-based provider. It helps eliminates the redundancy and streamline the operations by integrating the business’s critical data at a particular location.

Global Data-As-A-Service Daas Market Scope

Global Data-As-A-Service Daas Market Size, Forecast, and Trend Highlights Over 2023 - 2035 

The global data-as-a-service (Daas) market is estimated to garner a revenue of USD 68725 Million by the end of 2035 by growing at a CAGR of ~24% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 8563 Million in the year 2023. The growth of the market can be attributed to the surge in digital transformation across the globe. As per the World Bank, the digital economy has increased to 15.5 percent of the global GDP.

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Data as a service (DAAS) is a data management strategy that uses cloud technology to deliver data storage, integration, processing, and/or analytics services via a network connection. DaaS builds on the concept that its data products can be provided to the user on demand, regardless of geographic or organizational separation between provider and consumer. It is getting increasingly popular as it provides a solution for data integration, management, storage, and analytics. By embracing DaaS, companies can improve the agility of data workloads, reduce time-to-insight, and increase the reliability and integrity of their data. For instance, more than 60 percent of the data worldwide of organizations is stored in the cloud.

Global Data-As-A-Service Daas Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Volume of Data – The data of the organizations can be easily compared to find out the item that needs to be further investigated. For instance, more than 60 zettabytes of data were created, captured, copied, and consumed worldwide in the year 2020.

• Surging Work-from-Home Trend– The surging work-from-the-home trend among organizations requires cloud-based data solutions in order to make operations smooth. Hence, it is expected to increase the growth of the global data-as-a-service Daas market. More than 25 percent of the employees in the United States were working remotely in the year 2021

• Increase in the Urbanization Rate– There has been an improvement in the standard of living that is providing more opportunities for data-based solutions.  Therefore, it is anticipated to surge the growth of the global data-as-a-service Daas market. According to the United Nations, nearly 55 percent of the total population around the world lives in urban areas.

• Rising Penetration of Internet– The rising penetration of the internet enables users to have access to data and it is projected to increase the growth of the global data-as-a-service Daas market. According to the World Bank, the urban population percentage has increased to 57 percent in 2021 from 49 percent in 2002.

• Increasing Accounting and Auditing Firms– The data-as-a-service solutions have been adopted by many accounting and auditing firms in order to understand their clients’ organizations.  As per the Financial Reporting Council, the number of auditing firms that are registered with the Recognized Supervisory Board accounts for 5,007 as of 31 December 2020 in the United Kingdom.

Challenges

• Rising Threat to Data Privacy

• High Cost for the Deployment of Cloud Strategies

• Delay in the Transfer of Large-Volume Data

The global data-as-a-service Daas market is segmented and analyzed for demand and supply by deployment into public, private, and hybrid clouds. Out of these, the hybrid cloud segment is anticipated to hold the largest share over the forecast period owing to the flexibility it provides to the organizations in terms of keeping their highly sensitive data in their private data center and gaining innovation through running some workload on the public cloud. Nearly 80 percent of organizations are opting for a hybrid strategy in 2022.

Global Data-As-A-Service Daas Market Regional Synopsis

Regionally, the global data-as-a-service Daas market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2031 on the back of the rising volume of data generated by organizations, high adoption of the cloud-based strategy, and an increasing work-from-home trend. For instance, more than 90 percent of the enterprises in the United States use cloud services and more than 65 percent of enterprise infrastructure is cloud-based.

Market Segmentation

Our in-depth analysis of the global data-as-a-service Daas market includes the following segments:

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Key Companies Dominating the Global Data-As-A-Service Daas Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global data-as-a-service Daas market that are included in our report are Microsoft Corporation, Alphabet Inc., Amazon.com, Web Services, IBM Corporation, Oracle Corporation, EMC Corporation, SAP SE, Teradata Corporation, SAS Institute, Inc., Hewlett Packard Enterprise Development LP, and others.

Global Data-As-A-Service Daas Market: Latest Developments

• May 2022: IBM Corporation: IBM Cloud Virtual has been enhanced with Autoscale as Citrix DaaS for IBM Cloud is now available powered by Intel Xeon servers. Existing Citrix customers hosting virtual desktop infrastructure (VDI) on-premises can migrate or burst to VPC and begin delivering Desktop-as-a-Service

• June 2020: Nutanix, Inc., New capabilities have been added to the company's Desktop as a Service (DaaS) solution Xi Frame, which includes - enhanced onboarding for on-premises desktop workloads on Nutanix AHV, expanded support for user profile management, the ability to convert Windows Apps into Progressive Web Apps (PWA), and increased regional datacenter support to 69 regions across Microsoft Azure, Google Cloud Platform and Amazon Web Services (AWS).

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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