ID: MRFR/ICT/6195-HCR | February 2021 | Region: Global | 110 pages
Global Data Warehouse as a Service Market is expected to register a CAGR of 21.4% during the forecast period to reach USD 4.69 billion by 2024.
A data warehouse is a central repository of information which is analyzed to make better-informed decisions. Transactional systems, relational databases, and other sources store the data into a data warehouse. Business analysts, data scientists, and decision-makers access the data through business intelligence (BI) tools, SQL clients, and other analytics applications. Enterprises use reports, dashboards, and analytics tools to extract insights from the data, monitor business performance, and support decision making. These reports, dashboards, and analytics tools are a part of the data warehouse, which store data efficiently and deliver query results at high speeds to many users concurrently. These data warehouses are made available to the enterprises on cloud, known as data warehouse as a service. The major factor contributing to market growth is the tremendousincrease in the volume of the data. The increasing need for compliance with regulations and standards such as HIPAA of 1996, EU GDPR, SOX Act of 2002 is also contributing to the market growth. Additionally, the growing adoption of private cloud among organizations is also expected to drive the market. However, concerns regarding privacy and security are expected to limit market growth during the forecast period. Growing applications across verticals and the increasing demand from SME’s offer lucrative opportunities to the key providers of DWaaS solutions in the global market.
The global DWaaS market has been segmented based on usage, deployment, organization size, application, vertical, and region/country.
By usage, the global DWaaS market has been divided into data mining, reporting, and analytics.
Based on deployment mode, the global DWaaS market has been classified as private cloud, public cloud, and hybrid cloud.
Based on organization size, the global DWaaS market has been divided into small and medium-sized enterprises (SMEs) and large enterprises.
On the basis of application, the market has been segmented into fraud detection and threat management, supply chain management, asset management, risk and compliance management, customer analytics, and others.
On the basis of vertical, the global DWaaS market has been divided into banking, financial services and insurance (BFSI), retail & e-commerce, telecommunication and IT, healthcare and life sciences, manufacturing and automotive, government and public sector, travel and hospitality, media and entertainment, and others.
The global DWaaS market has been analyzed for four regions—North America, Europe, Asia-Pacific, and the rest of the world.
The global DWaaS market is estimated to grow during the forecast period from 2019 to 2024. The geographic analysis of the global DWaaS market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America accounts for the highest market share, owing to the rapid adoption of cloud technology in data warehousing. The US, Canada, and Mexico are the leading countries in the region. The US is the leading country owing to the early adoption of the data warehouse as a service, as well as initiatives taken by the industry players in the form of partnerships with different technology players and product enhancements in the region.
The market in Europe is expected to be the second-largest during the review period due to the increasing demand for DWaaS solutions due to the growing adoption in the BFSI sector. Asia-Pacific is anticipated to be the fastest growing market in the global DWaaS market during the forecast period. A rapidly increasing number of enterprises adopting these solutions across the BFSI and retail and e-commerce industries and the rising volume of data are the key driving factors for the growth of the DWaaS market in Asia-Pacific.
The DWaaS vendors are increasingly focusing on offering innovative solutions and services and thus making significant investments in their research & development (R&D) activities. Software launches, service enhancement, mergers, acquisitions, and partnerships are the major strategies adopted by the vendors in the DWaaS market to cater to the diverse requirements of the clients and expand to new regions. For instance, in December 2018, Snowflake Inc. (US) announced the general availability of Microsoft Azure in Europe and the Middle East and African market. The company leverages Azure infrastructure services for data storage and query processing.
The key players in the global DWaaS market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include Microsoft Corporation (US), Amazon Web Services (US), Oracle Corporation (US), SAP SE (Germany), Google (US), IBM Corporation (US), AtScale, Inc. (US), Teradata Corporation (US), Actian Corporation (US), Hortonworks (US), Veeva Systems Inc. (US), Micro Focus (UK), MarkLogic Corporation (US), Netavis Software GmbH (Austria) and Snowflake Inc. (US). The key strategies adopted by most of the players are partnerships, agreements, collaborations, and the launch of solutions.
Frequently Asked Questions (FAQ) :
The rate at which the market expansion is expected to occur in the coming years is 21.4%.
The market size by 2024 can be USD 4.69 billion.
The leading players are Teradata Corporation (US), Snowflake Inc. (US), MarkLogic Corporation (US), SAP SE (Germany), Google (US), Netavis Software GmbH (Austria), Amazon Web Services (US), Actian Corporation (US), IBM Corporation (US), Microsoft Corporation (US), Hortonworks (US), Micro Focus (UK), Oracle Corporation (US), Veeva Systems Inc. (US), AtScale, Inc. (US), to name a few.
North America is anticipated to profit the most in the coming years.
The global market for DWaaS has been analyzed across the regions of Europe, Asia Pacific, North America, and the rest of the world.