Data as a Service (DaaS) is a cloud service that ensures critical data availability in a simple and cost-effective manner for businesses. The DaaS concept works by offloading the workload and risks connected with data management to a third-party cloud provider. DaaS enables clients to receive specific useful data on demand, regardless of an organization's structural or geographical constraints. DaaS eliminates redundancy and lowers operational costs by consolidating critical corporate data at a single location, allowing multiple users to access and amend the data from a single update point. DaaS technology is used in a wide range of business applications, including Customer Resource Management (CRM), e-commerce, supply chain management systems, customer intelligence, and enterprise resource planning.
According to SPER market research, ‘Asia Pacific Data as a Service (DaaS) Market Size - By Development, By Organisation Size, By End User - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Asia Pacific Data as a Service (DaaS) Market is predicted to reach USD XX billion by 2033 with a CAGR of 22.21%.
Drivers:
The increase in data consumption across a number of processes and systems to provide key insights in a company is expected to fuel the growth of the data as a service (DaaS) market during the forecast period. Furthermore, increased acceptance of the data as a service model in auditing and accounting, as well as global digitization, are likely to boost expansion in the data as a service (DaaS) market. Furthermore, the growth of digital enterprises is likely to drive the data as a service (DaaS) market. Furthermore, rising digital organisations and greater consumption of external data will open up new avenues for the data as a service (DaaS) sector to thrive in the coming years.
Challenges:
DaaS implementation has numerous advantages, but there are certain barriers that may impede the business from expanding in the Asia-Pacific area. Data security, privacy, and proper governance are an organization's top priorities. Furthermore, in order to employ DaaS, the organisation must migrate all of its data from on-premises to the cloud. As a result, the organization's data sharing may include information on mission-critical projects, customer information, corporate secrets, and so on, raising privacy concerns. Given this, if the DaaS vendor's security is out of date, there is a high risk of data vulnerability and disclosure. As a result, the organisation is concerned about data security, which may hinder DaaS adoption even further.
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The COVID-19 pandemic has had a beneficial effect on the industry for data as a service growth. Due to the need for businesses across industries to understand shifting consumer behaviours, supply chain disruptions, and market trends, the pandemic's spread has brought attention to the value of data-driven decision-making, particularly in uncertain times. This has increased demand for DaaS solutions that can offer up-to-date, relevant data to support decision-making.
Geographically, India has a significant market share in the Asia-Pacific Data as a Service (DaaS) industry. With the rapid acceptance of digitalization in a variety of fields, including government services and commercial organisations, the country's ICT industry is witnessing a spectacular transition that will promote the expansion of DaaS solutions and services. Furthermore, Microsoft Corporation, Google, Amazon Web Services, IBM Corporation, Oracle Corporation, Alibaba Group Holding Limited, SAP SE, and Others are among the market's main companies.
Asia Pacific Data as a Service (DaaS) Market Segmentation
By Development: Based on the Development, Asia Pacific Data as a Service (DaaS) Market is segmented as; Public Cloud, Private Cloud, Hybrid Cloud.
By Organisation Size: Based on the Organisation Size, Asia Pacific Data as a Service (DaaS) Market is segmented as; SMEs, Large Enterprises.
By End User: Based on the End User, Asia Pacific Data as a Service (DaaS) Market is segmented as; BFSI, Healthcare, Retail, IT and Telecom, Government, Others.
By Region: This research includes data for China, Japan, India, South Korea, Australia, Indonesia, Others.
For More Information, refer to below link:-
Asia Pacific Data as a Service Market Outlook
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