Data-as-a-Service or DaaS offers convenient
and cost-effective solutions for customer- and client-oriented enterprises. It
is a cloud-based approach to assist the accessibility of business useful data
in a well-timed, protected & affordable manner. It also provides a
convenient and the cost-effective solutions for the consumer and the
client-oriented enterprises. It also removes the redundancy & reduces
associated expenditures via accommodating the essential data in a single
location. Some of the key benefits include the ease of collaboration &
administration, and the ability to move data easily, agility, preservation of
data integrity, global accessibility & affordability, avoidance of vendor
lock-in, data quality, compatibility among diverse platforms and automatic
updates etc. DaaS is impacted by some of the major criticisms for instance
security, privacy and the data governance issues.
According to study, “Global
Data-as-a-Service Market: Drivers, Restraints, Opportunities, Trends, and
Forecast up to 2023” some of the major companies that are currently
working in the global data-as-a-service
market are IBM Corp., Oracle Corp., Acxiom Corporation, Microsoft, Actifio
Inc., Google Inc., Money.Net Inc., Morningstar Inc., Bloomberg Finance L.P,
FactSet Research Systems Inc., SAP SE, Fair Isaac Corporation, Nielsen Holdings
N.V., Equifax Inc., Moody's Investors Service Inc., MorningStar Inc.,
Environmental Systems Research Institute, Sentieo Inc., MasterCard Advisors
LLC, Experian plc., LinkedIn Corporation, Alibaba Group Holding Limited,
Factual, Gravy Analytics, The Dun & Bradstreet Corp., HG Data Company,Zoom
Information, Inc.,DATASIFT INC.,Dow Jones & Company Inc., StatSocial
Inc., FirstRain, Inc., PlaceiQ, Thomson
Reuters Corporation, Facebook, Inc., Ycharts, Mirantis Inc., comScore, Inc.,
SAS Institute Inc., Opera Solutions LLC, Birst Inc., Twitter, Inc., Teradata
Corporation, Verizon Communications, Inc., Wolters Kluwer N.V., LexisNexis
Group, SunGard, EMC Corporation, Datameer Inc., Sisense Inc., MapR Technologies
Inc., MOTOR Information Systems, REaD Group, and CloudCoCo.
Based on deployment, the data-as-a-service
market is segmented into private cloud, public cloud and hybrid cloud. Based on
pricing model, the market is segmented into data type-based pricing model and
volume-based pricing model. Volume based pricing model is further sub-segmented
into pay per call (PPCall) pricing and quantity-based pricing. Based on
solution, the market is categorized into test data management, disaster recovery
& backup solution, data migration and data warehousing etc. Based on the
professional services, market is segmented into support & maintenance,
implementation & deployment and consulting activities. Based on business
size, the market is segmented into large, medium and small enterprise. In
addition, the end-user segment includes media & entertainment,
transportation, retail, BFSI, information technology & telecom,
manufacturing and healthcare.
The demand of data-as-a-service is primarily
driven by the increasing requirement for long-term data retention, growing
penetration of the data-based decisions followed by the increased adoption of
the cloud-based services in the enterprises, the increased digital
transformation, rising need of data-driven decision-making technology-driven
marketing decisions. Apart from benefits, some of the major restraints includes
unskilled human resources, lack of technical expertise, concerns on the privacy
& security and excessive cost of ownership associated with the use of the
data. DaaS is emerging as an underlying technology that support Web services
and SOA (service-oriented architecture) mature. The use of high-speed internet
service has become widely available to support the user access around the
world, making DaaS as a major option to more and more people and the
organizations.
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Ankur
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