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Global Data-as-a-Service Market to Exhibit 43.72% CAGR from 2016 to 2020 owing to Exponential Growth in Data

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Published on : Jun 27, 2016

ALBANY, New York, June 27, 2016: A new report, titled ‘Global Data-as-a-Service Market 2016-2020,’ featured on ResearchMoz.us delivers a clear picture of the global market with a major focus on its drivers and challenges. As per the report, the rise in the demand for data recovery services will drive the global data-as-a-service market at a 43.72% CAGR during the period between 2016 and 2020. However, the increasing data security concerns will challenge the global market in the near future. 

In the world of computing, data-as-a-service (DaaS) is closely related to software-as-a-service (SaaS). Traditionally, organizations used information stored in a repository, which was created by specially developed software. Just like data, the software also needs to be revamped with new updates. This adds up to the routine maintenance cost. DaaS has the ability to segregate data cost from the cost of using a specific platform. This has contributed to the attractiveness of data-as-a-service to data consumers. 

Data-as-a-service comprises data sourcing, management, and the delivery of data in a business-suitable consumable format. DaaS delivers data to the user, on demand, irrespective of any geographical boundaries between the user and the service provider. With this, the burden of data management and sourcing gets transferred to a third-party service provider. Accelerating innovations in safer and secure models have paved the future for unparalleled growth in the global data-as-a-service market. 

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IBM, Microsoft, Oracle, SAP, Accenture, Alteryx, Altiscale, Attivio, Cloudera, DataStax, Doopex, EMC, Google, and Hortonworks are some of the key companies operating in the global data-as-a-service market. To widen the scope of growth in the global market, leading players are adopting mergers with new entrants as a strategy for growth.

However, leading players will have to take extra efforts to tackle the drawbacks of data-as-a-service. Service automation units or platforms contain CRUD operations, where users can create, read, update, and delete the data after due permission. But data-as-a-service allows the user to only read the data. This is a major drawback of data-as-a-service models. The growing data security threats and the rising number of data fraud cases are predicted to further affect the growth of the global data-as-a-service market in the near future. Leading players are concentrating on using advanced technologies to introduce new DaaS models. With this, they aim to capture more market, and thus maintain their dominance.

Although the global data-as-a-service market will slow down due to data security concerns, it will continue to score owing to the constant adoption of technology by emerging organizations. For a better understanding of the geographical reach of leading players, the global data-as-a-service market is divided into the Americas, Asia Pacific, Europe, and the Middle East and Africa. IT and telecom, retail, manufacturing, BFSI, and government are some of the end users of data-as-a-service models.
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