
Asia-Pacific Data as a Service (DaaS) Market Research Report: Forecast (2024-2030)
Asia-Pacific Data as a Service (DaaS) Market Report - By Deployment (Public Cloud, Private Cloud, Hybrid & Multi Cloud), By Organization Size (Large Enterprises Small & medium Ente...rprises), By End User (BFSI, Healthcare, Retail, IT & Telecom, Government, Others (Media & Entertainment, Industrial, etc.)), and Others Read more
- ICT & Electronics
- May 2024
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Market Definition
Data as a service (DaaS) is a data management platform that utilizes cloud-based networking to deliver enterprise requirements, including data storage, integration, processing, and analytic services. This service helps the enterprises to minimize their internal technology & server costs through on-demand data for consumers.
Market Insights & Analysis: Asia-Pacific Data as a Service (DaaS) Market (2024-30):
The Asia-Pacific Data as a Service (DaaS) Market size is estimated to grow at a CAGR of around 22% during the forecast period, i.e., 2024-30. The Asia Pacific region has been experiencing unprecedented growth in its fintech industry due to the rising adoption of online payment platforms, a surging count of startups in the region, and the increasing integration of advanced technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), Blockchain, Industry 4.0, BigData, among others. In recent years, internet penetration & smartphone accessibility in the region have drastically increased. As per the Global System for Mobile Communications (GSMA), in 2022, almost 1.23 billion individuals in the Asia-Pacific region use mobile internet services. This higher internet usage is creating a conducive environment for the adoption of digital services in different industry verticals, like BFSI, IT & Telecom, etc. Therefore, several industries have started providing their service through online channels. According to the International Data Corporation (IDC), almost 22% of the organizations in Asia-Pacific have allocated substantial funds to use generative AI within their enterprise. This increasing inclination towards digital platforms is resulting in the increased requirement for solutions that help in resource management & streamlining of business operations. Consequently, this is leading to the extensive usage of the DaaS, enlarging Asia-Pacific Data as a Service (DaaS) market size.
Report Coverage | Details |
---|---|
Study Period | Historical Data: 2019-22 |
Base Year: 2023 | |
Forecast Period: 2024-30 | |
CAGR (2024-2030) | 22% |
Country Covered | China, India, Japan, South Korea, Singapore, Rest of Asia Pacific |
Key Companies Profiled | Microsoft Corporation, Google, Amazon Web Services, IBM Corporation, Oracle Corporation, Alibaba Group Holding Limited, SAP SE, Teradata Corporation, SAS Institute, Inc., Huawei Technologies Co., Ltd., Bloomberg Finance L.P, IQVIA, TIBCO Software, Thomson Reuters Corporation, Morningstar, Inc., Equifax, Inc., Moody's Investors Service, Inc., MasterCard Advisors LLC, Dow Jones & Company, Inc., Hitachi Vantara, Information Builders, NetApp, Inc., and Others |
Unit Denominations | USD Million/Billion |
Further, traditionally, organizations used to store & manage their data in-house, which required a dedicated team of experts possessing high technical expertise in technologies, including AI, BigData, ML, etc. As a result, the cost of operations for the enterprises was higher. As per the research by Forester Research Inc., an IT advisory company, the total annual cost of internal storage for 100Tb data is approximately USD1 million, whereas the cloud-based storage solutions are only USD200,000. Therefore, to cut down the overhead costs, enterprises are increasingly using the DaaS solution since it helps in the management of large datasets. Additionally, the DaaS solutions also provide advanced analytical services, which help in sales, marketing, demand forecasting, resource management, supply chain management, and behavior analytics, among others. Therefore, businesses are increasingly adopting these solutions for effective management & storage of data.
Furthermore, different industries in Asia-Pacific are undergoing a rapid digital transformation, where these companies are integrating emerging technologies, like Artificial Intelligence (AI), Machine Learning (ML), etc., within their ecosystems. Therefore, to ensure the smooth incorporation of the advanced technologies by delegating the risks & responsibilities of data management to a third-party cloud-based service provider would continue to uplift the demand for DaaS solutions in the forecast years.

Asia-Pacific Data as a Service (DaaS) Market Driver:
Increasing Inclination Towards Cloud Computing in Various Industry Verticals Boost the Market Growth – The increasing incorporation of digitalized services, such as cloud computing, serverless computing, software as a service, business process automation, etc., has augmented the demand for data services to manage & extract insights from data aggregators. Several businesses are inclining towards cloud computing in the Asia-Pacific countries. According to Red Hat Inc., as of 2023, around 85% of business leaders in APAC have started to adopt cloud-based solutions within their organizations. This helps the organizations to make informed decisions for the enterprises based on the data collected & stored on the cloud-based platform. Moreover, the top companies are also allocating substantial funds in fields such as fintech, digital payments, data processing & hosting, cloud computing, and professional & technical services. Based on the research conducted by Canalys company, in Q2 2022, the spending on cloud infrastructure reached around USD8.7 billion within the APAC region excluding China. As a result, there would be a surge in the adoption of DaaS within the industries during the forecast period.
Furthermore, the establishment of investment promotion agencies, digital clusters, and digital special economic zones across the Asia-Pacific region by various private & public players is leading to the incubation of DaaS. Additionally, the perpetual implementation of digitalization services through data localization policies, local storage requirements, and conditional flow regimes would augment the use case of DaaS in the coming years.
Asia-Pacific Data as a Service (DaaS) Market Challenge:
Concerns Related to Data Security Hinder the Daas Adoption– The foremost apprehensions of an organization that hamper the market growth are data privacy & data security issues and improper governance. In recent years, cyber security breaches & cyber-attacks have increased significantly in Asia-Pacific. According to Dell's Global Data Protection Index (GDPI), almost 55% of the companies in the region faced cyberattack issues in 2023. These security breaches result in financial & data-related loss for the enterprises. Therefore, the organization refrains from opting for these solutions, hindering market growth. Additionally, for implementing DaaS, the enterprise needs to migrate all of its data from on-premise to the cloud. This shared data includes critical information about the client and the company's finances. Therefore, there is a high possibility of data vulnerability & exposure concerning data security, if the DaaS vendor’s security is not up-to-date. Hence, this leads to distress in the organization regarding their data security which further slows down DaaS adoption.
Asia-Pacific Data as a Service (DaaS) Market Trend:
Increasing Adoption of Data Analytics Solutions in Auditing & Accounting Firms – Auditing & accounting firms have a vast data pool, ranging from financial information to internal decision-making reports. Based on the research by the Franklin Institute, accounting firms generate around 2.5 quintillion bytes of data. As a result, these organizations require advanced data analytics solutions to ascertain business development & generate insights from the gathered data. According to the survey by Sage, a software vendor, around 44% of accounting firms use advanced predictive analysis. Moreover, the datasets within the accounting & auditing firms are relatively large, therefore there is a consistent need for solutions that offer high computing power & storage solutions to the auditing firm, augmenting the Asia-Pacific Data as a Service (DaaS) market.
Additionally, the top accounting & auditing firms such as Ernst & Young, PricewaterhouseCoopers (PWC), Grant Thornton, and KPMG, among several others, in the Asia-Pacific region are increasingly integrating data as a service & leveraging the power of data to the fullest. Hence, this trend is expected to generate notable demand for DaaS in the upcoming years.
Asia-Pacific Data as a Service (DaaS) Market (2024-30): Segmentation Analysis
The Asia-Pacific Data as a Service (DaaS) Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024–2030 at the national levels. Based on the analysis, the market has been further classified as:
Based on End User:
- BFSI
- Healthcare
- Retail
- IT & Telecom
- Government
- Others (Media & Entertainment, Industrial, etc.)
Of them all, BFSI holds a prominent market share in the Asia-Pacific Data as a Service (DaaS) market. Countries such as India, China, Singapore, and Japan, among others, have become global financial hubs with the increasing presence of large financial institutions in the region. The unstoppable wave of digitization in the banking industry has led to the adoption of complete cloud-based processes with minimal or zero requirement of human interaction for running banking operations. According to Atos, an information technology company, around 20% of the overall global digital banks are present in APAC. This increasing adoption of digital services within the BFSI has led to the generation of gigantic amounts of data. Therefore, to analyze & enrich consumer behavior, and customer service, and pitch the right product, financial institutions are using DaaS solutions, enlarging the market size.
Based on Organization Size:
- Large Enterprises
- Small & Medium Enterprises
Among them, Large Enterprises holds a dominant market share in the Asia-Pacific Data as a Service (DaaS) market during the historical period. Large enterprises have higher amounts of data than small & medium-scale enterprises. Therefore, there is a requirement for the incorporation of DaaS solutions to provide advanced analysis of the data aggregated from various enterprises. Furthermore, these enterprises have diverse operational needs, including data handling, storage, network security, etc. Owing to this, there is a requirement for services that implement advanced analytics to generate useful insights.
Additionally, the increasing collaborations between top companies for the adoption of cloud services to store & process data from telecommunications, automotive, banking & finance, healthcare, etc., would continue to accelerate the revenue growth of DaaS in the area.
Asia-Pacific Data as a Service (DaaS) Market (2024-30): Regional Projection
Geographically, the Asia-Pacific Data as a Service (DaaS) Market expands across:
- China
- India
- Japan
- South Korea
- Singapore
- Rest of Asia-Pacific
Geographically, India holds a noteworthy market share in the Asia-Pacific Data as a service (DaaS) market. With the quick adoption of digitalization across multiple areas, including government services & commercial organizations, etc., the country's ICT industry has been undergoing a remarkable transformation that would foster the growth of DaaS solutions & services. Further, the promising government initiatives towards startup incubation, fast-tracking R&D investments to brush up its technological capabilities, and continuous investments made by various global IT players, among others, are creating a firm foundation for a technologically sound environment, leading to the increased adoption of DaaS in India.
Asia-Pacific Data as a Service (DaaS) Industry Recent Development:
- 2024 Years: Microsoft Corporation: Launched a data as a service solution called Purview that helps in securing the data and detects data-related risks.
Gain a Competitive Edge with Our Asia-Pacific Data as a Service (DaaS) Market Report
- Asia-Pacific Data as a Service (DaaS) Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
- This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
- Asia-Pacific Data as a Service (DaaS) Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.
Frequently Asked Questions
- Market Segmentation
- Introduction
- Product Definition
- Research Process
- Assumptions
- Executive Summary
- Asia-Pacific Data as a Service (DaaS) Market Start-Up Ecosystem
- Entrepreneurial Activity
- Year on Year Funding Received
- Funding Received by Top Companies
- Key Investors Active in the Market
- Series Wise Funding Received
- Seed Funding
- Angel Investing
- Venture Capitalists (VC) Funding
- Others
- Asia Pacific Data as a Service (DaaS) Business Model Analysis
- Volume-based
- Data type-based
- Consumption-based
- Asia-Pacific Data as a Service (DaaS) Market Trends & Insights
- Asia-Pacific Data as a Service (DaaS) Market Dynamics
- Growth Drivers
- Challenges
- Asia-Pacific Data as a Service (DaaS) Market Policies & Regulations
- Asia-Pacific Data as a Service (DaaS) Market Hotspot & Opportunities
- Asia-Pacific Data as a Service (DaaS) Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Deployment
- Public Cloud - Market Size & Forecast 2019-2030, USD Million
- Private Cloud - Market Size & Forecast 2019-2030, USD Million
- Hybrid & Multi Cloud - Market Size & Forecast 2019-2030, USD Million
- By Organization Size
- Large Enterprises- Market Size & Forecast 2019-2030, USD Million
- Small & medium Enterprises- Market Size & Forecast 2019-2030, USD Million
- By End User
- BFSI - Market Size & Forecast 2019-2030, USD Million
- Healthcare - Market Size & Forecast 2019-2030, USD Million
- Retail - Market Size & Forecast 2019-2030, USD Million
- IT & Telecom - Market Size & Forecast 2019-2030, USD Million
- Government - Market Size & Forecast 2019-2030, USD Million
- Others (Media & Entertainment, Industrial, etc.) - Market Size & Forecast 2019-2030, USD Million
- By Country
- China
- India
- Japan
- South Korea
- Singapore
- Rest of Asia-Pacific
- By Company
- Competition Characteristics
- Market Share & Analysis
- By Deployment
- Market Size & Analysis
- China Data as a Service (DaaS) Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Deployment- Market Size & Forecast 2019-2030, USD Million
- By Organization Size- Market Size & Forecast 2019-2030, USD Million
- By End User- Market Size & Forecast 2019-2030, USD Million
- Market Size & Analysis
- India Data as a Service (DaaS) Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Deployment- Market Size & Forecast 2019-2030, USD Million
- By Organization Size- Market Size & Forecast 2019-2030, USD Million
- By End User- Market Size & Forecast 2019-2030, USD Million
- Market Size & Analysis
- Japan Data as a Service (DaaS) Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Deployment- Market Size & Forecast 2019-2030, USD Million
- By Organization Size- Market Size & Forecast 2019-2030, USD Million
- By End User- Market Size & Forecast 2019-2030, USD Million
- Market Size & Analysis
- South Korea Data as a Service (DaaS) Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Deployment- Market Size & Forecast 2019-2030, USD Million
- By Organization Size- Market Size & Forecast 2019-2030, USD Million
- By End User- Market Size & Forecast 2019-2030, USD Million
- Market Size & Analysis
- Singapore Data as a Service (DaaS) Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Deployment- Market Size & Forecast 2019-2030, USD Million
- By Organization Size- Market Size & Forecast 2019-2030, USD Million
- By End User- Market Size & Forecast 2019-2030, USD Million
- Market Size & Analysis
- Asia-Pacific Data as a Service (DaaS) Market Key Strategic Imperatives for Success & Growth
- Competitive Outlook
- Company Profiles
- Technology Providers
- Microsoft Corporation
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Google
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Amazon Web Services
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- IBM Corporation
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Oracle Corporation
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Alibaba Group Holding Limited
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- SAP SE
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Teradata Corporation
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- SAS Institute, Inc.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Huawei Technologies Co., Ltd.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Bloomberg Finance L.P
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- IQVIA
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- TIBCO Software
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Others
- Microsoft Corporation
- Key Data Aggregators
- Thomson Reuters Corporation
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Morningstar, Inc.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Equifax, Inc.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Moody's Investors Service, Inc.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- MasterCard Advisors LLC
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Dow Jones & Company, Inc.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Hitachi Vantara
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Information Builders
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- NetApp, Inc.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Others
- Thomson Reuters Corporation
- Technology Providers
- Company Profiles
- Disclaimer
