IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

Data as a service market set to reach $61 billion by 2030

Market Research Future foresees significant adoption of DaaS in North America and APAC region over the next decade

An abstract visualisation of data and bars alongside a shopping basket to represent the sale of data

The data as a service (DaaS) market is slated to reach $61.42 billion by 2030, with a compound annual growth rate of 36.9%, according to Market Research Future (MRFR).

DaaS enables enterprises to better manage their data workloads, boost reliability and integrity of data, and decrease time-to-insight. Owning to the benefits, the service is an increasingly popular choice for data integration, management, storage, and analytics.

As more organizations turn to the cloud to streamline their infrastructure and workloads, MRFR forecasts significant gains for the DaaS market in the coming years. Microsoft, Facebook, IBM are among the market's dominant players.

Additionally, North America holds the largest share of the global DaaS market. The rapid market growth in the region can be attributed to unstructured data gathering in the commercial and industrial sectors.

DaaS is in the Asia Pacific region also poised to generate considerable revenue over the forecast period.

“Increasing uptake of cloud-based services and enormous opportunities across businesses provide better scope for the APAC countries to advance in the data as a service (DaaS) market,” MRFR stated in its report.

Mergers, acquisitions, and collaboration are a few strategies enterprises use to remain competitive.

As an example, Intermap Technologies, a geospatial information and content services firm, recently announced a new contract with a European airline, providing elevation data as a service for route planning operations.

In another instance, PhaseZero, a provider of B2B and B2C digital commerce software solutions, unveiled CxAnalytics, a tool capable of proactively managing sales and market share growth, in addition to mitigating critical risks. The service is another strategic move by PhaseZero as it continues to build out its multi-cloud enterprise SaaS application platform.

Featured Resources

Accelerating AI modernisation with data infrastructure

Generate business value from your AI initiatives

Free Download

Recommendations for managing AI risks

Integrate your external AI tool findings into your broader security programs

Free Download

Modernise your legacy databases in the cloud

An introduction to cloud databases

Free Download

Powering through to innovation

IT agility drive digital transformation

Free Download

Recommended

How to measure data quality
business intelligence (BI)

How to measure data quality

1 Dec 2021

Most Popular

Salaries for the least popular programming languages surge as much as 44%
Development

Salaries for the least popular programming languages surge as much as 44%

23 Jun 2022
The top programming languages you need to learn for 2022
Careers & training

The top programming languages you need to learn for 2022

23 Jun 2022
Swift exit: How the world cut off Russian banks
finance

Swift exit: How the world cut off Russian banks

24 Jun 2022