data as a service market

Data is one of the most useful resources in the modern world. By analyzing relevant and reliable data, organizations can make better decisions, increase customer retention, improve customer retention, and better manage their marketing efforts. Data as a service (DaaS) solutions allow businesses to offer their vast data to external parties and provide the scalability needed to handle varying workloads.

In this blog post, we list the top 10 industry players driving the data as a service market growth. Stick with us as we unveil them one by one.

#1. Accenture Plc.

Founded: 1989

Headquarters: Dublin, Ireland

Accenture Plc is an Irish-American MNC company that specializes in IT services and consulting. The firm provides a wide range of services, including technology and operation strategy services, analytics, digital marketing, and mobility services, amongst others. Accenture’s clientele includes over three-quarters of the Fortune Global 500 companies. In 2022, Accenture was named the world’s most admired IT services company by Fortune.

#2. Inc

Founded: 1994

Headquarters: Seattle, Washington is an American MNC company specializing in e-commerce, cloud computing, AI, digital streaming and advertising. Amazon’s data as a service platform allows data providers to provide data products and services out of the box to their customers. Amazon’s DaaS platform for the data as a service market comes with numerous useful features, including a KPI dashboard, clustering, customer segmentation, and geospatial analysis.

#3. Google LLC

Founded: 1998

Headquarters: Mountain View, California

Google LLC is an American technology company that focuses on search engine technology, online advertising, cloud computing, e-commerce, and consumer electronics. The firm’s products and services address a wide range of use cases, including e-mail, video sharing, operating systems, language translation, smartphones, and artificial intelligence, amongst others. Google’s other ventures outside of consumer electronics and internet services are quantum computing, self-driving cars, and smart cities.

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#4. Microsoft

Founded: 1975

Headquarters: Albuquerque, New Mexico

Microsoft is a Fortune 500 company that was founded by Bill Gates and Paul Allen in 1975. Today, Microsoft is the largest vendor of computer software on the planet. Besides, it’s a major provider of video games, cloud computing services, gaming and computer hardware, online search, and other services. Microsoft caters to the data as a service market by offering a modern solution focused on the effective and efficient operation of businesses’ data analytics platforms.

#5. Guavus Inc

Founded: 2006

Headquarters: San Jose, California

Guavus Inc. is a telecom analytics pioneer that focuses on enabling MNOs to realize business value from 5G. The company is leading the AI-based big data analytics innovation, leading digital transformation at six of the seven biggest telecommunications providers across the globe. Acquired by Thales in 2017, the company also provides data and analytics solutions to businesses operating in aerospace, industrial IoT, transportation, and digital security solutions.

#6. IBM

Founded: 1911

Headquarters: Armonk, New York

IBM, or the International Business Machines Corporation, is an American technology corporation that specializes in computer hardware, middleware, and software. Present in over 175 countries, the company provides hosting and consulting services in various areas. Besides, IBM is the biggest industrial research corporation on the planet, with over 19 research facilities spread across a dozen countries. IBM is also one of the data as a service market key players that provides a one-stop solution for all the data governance, data engineering, and data analysis needs of businesses worldwide.

#7. Oracle Corporation

Founded: 1977

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Headquarters: Austin, Texas

Based out of Austin, Texas, Microsoft is the third-largest market software firm on the planet by market capitalization. The company’s offering includes database software, enterprise software products, cloud engineering systems, ERP software, and SCM software, amongst others. Oracle’s data as a service (DaaS) provides businesses with access to more than 345 million records. That way, companies can have the most relevant and up-to-date information.

#8. SAP SE

Founded: 1972

Headquarters: Walldorf, Germany

SAP SE is a German MNC company that provides enterprise software to manage customer relations and business operations. Along with being the world’s largest enterprise software vendor, the firm also provides data software and technology solutions, cloud systems, and other enterprise resource planning (ERP) solutions.

#9. Snowflake Inc

Founded: 2012

Headquarters: Bozeman, Montana

Snowflake Inc. is a data cloud company that was launched in 2012 and made its IPO two years later in 2014. The company is known for offering the Data Cloud, which is a worldwide network where organizations unite, discover, and share data with near-unlimited scale and performance. Snowflake’s main features for the data as a service market include data sharing, data cloning, and third-party tools.

#10. Wipro Limited

Founded: 1945

Headquarters: Bengaluru, India

Wipro Limited is an Indian MNC company that offers IT, consultancy, and business process services to companies worldwide. The firm’s capabilities include cloud computing, computer security, data analytics, digital transformation, and robotics, amongst others. Wipro’s data and analytics solutions enable businesses to offer value across their customer’s journey and help them create new business models and revenue streams.

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End Note and Conclusion

The data as a service market size was USD 9.16 billion in 2022 and is expected to grow at a CAGR of 29.9%, generating an estimated revenue of USD 125.40 billion during the forecast period. The rising adoption of cloud-based analytics and a significant increase in the number of connected devices worldwide are the major factors propelling the market forward.

By Sonia Javadekar

Sonia is a poised content writer with five years of experience in the same. She is an avid writer with getting her work published for an audience to read and share. She strives to develop content that spreads brand awareness and induces consumers to click on the website that she wrote for after searching for a keyword. Her experience in content writing has permitted her to work with clients in market research industry. My passions include reading, writing and classical dance.