ID: MRFR/ICT/6195-HCR | February 2021 | Region: Global | 110 pages
The Data Warehouse as a Service Market is projected to grow at a CAGR of 24.5%. It is estimated that the market will reach up to USD 7.69 Billion during the forecast period 2021-2028 according to MRFR Analysis COVID-19 Analysis. The data warehouse is used for the analysis of information to make accurate decisions by enterprises. It is a central repository system of decisions where the data flows through the relational database, transactional systems, etc. The components and advanced technologies are integrated for using the data strategically.
The data warehouse is an electronic storage system for keeping a large amount of data of enterprises. It is used to solve queries by converting relevant data into information for the users. The increasing concerns regarding the complexity and managing of data, various industries are demanding data warehousing in healthcare, business, finance, and other sectors. North America is projected to hold the largest market share during the forecast period. Thus, the Data Warehouse as a Service Industry will have a huge growth during the forecast period. Along with that, Asia-Pacific will record the highest growth during the forecast period.
The evolution of several industries and enterprises during the period of COVID-19 disease is anticipated to boost the Data Warehouse as a Service Market Growth. Companies across the world continued their work to provide the best solutions in the market. However, the imposition of lockdown largely affected the supply chain that affected the transportation of electronic equipment. But, the companies are continuously expanding their business which is why the Data Warehouse as a Service Industry will register exponential growth.
Some major driving factors such as the rising adoption of cloud systems will lead to extensive growth of Data Warehouse as a Service Market. Also, with the increasing concerns about data manageability and complexity, the growth of data warehousing will witness a huge growth. The extensive demand for high-speed analytics with the rising need for business intelligence among enterprises will increase further.
One of the major restraints for the Data Warehouse as a Service Market is the huge concern regarding the security and privacy of data. The transmission of data among systems can be vulnerable to privacy breaches due to the use of cloud computing. Also, the increasing cases of cyber-attacks can hinder enterprises to opt for data warehouse solutions.
Various opportunities will open for business enterprises. It will reduce the costs and time and improve the work efficiency as well. Also, the use of smartphones and demand for high latency will further fuel the Data Warehouse as a Service Industry. Also, a growing amount of data by various organizations will have a great impact on the market.
Several challenges persist that will slow down the market growth to a certain extent. One of the major challenges is the complex interface of the software. Also, the significant lack of skilled professionals will be a huge problem that will restrict the market to a certain extent.
The Data Warehouse as a Service Market Sales will rise during the forecast period due to several driving factors. It is estimated that the market will grow at a Compound Annual Growth Rate (CAGR) of 24.5%. It is estimated that the market will expand and reach up to USD 7.69 Billion during the forecast period 2021-2028, as per MRFR Analysis.
Value Chain Analysis
With the growing Data Warehouse as a Service Market Trends, the market will flourish during the forecast period. Major Key players and stakeholders are largely investing in the research and development in this sector. Along with that, the growing need for enterprises to enhance the customer experience and data flow will fuel the market growth. As a result, the value chain will also soar up in the upcoming years.
The Data Warehouse as a Service Market Segments is divided into deployment, usage, vertical, organization size, and application. Based on usage, the market is divided into Analytics, Data Mining, and Reporting.
Based upon vertical, the market is further segmented into Hospitality and Travel, Life Sciences and Healthcare, E-Commerce and Retail, Banking, Financial Services and Insurance (BFSI), IT and Telecommunication, Automotive and Manufacturing, Public and Government Sector and Entertainment and Media.
Based on deployment, the market is bifurcated into Private Cloud, Hybrid Cloud, and Public Cloud.
Based upon organization size, the market is again segmented into Small and Medium Enterprises (SMEs) and Large Enterprises.
By application, the market is divided into Threat Management and Fraud Detection, Asset Management, Compliance and Risk Management, Supply Chain Management, Customer Analytics, and Others.
The Data Warehouse as a Service Market Size on the basis of region is divided into North America, Europe, Asia-Pacific, and the Rest of the World. It is estimated that North America will hold the largest Data Warehouse as a Service Market Share. Countries such as the US and Canada are largely promoting market growth. Then, the European region is expected to hold the second-largest share that will lead to Data Warehouse as a Service Market Profit. However, the Asia-Pacific region is considered to be the fastest-growing market in the upcoming years. Due to extensive technological advancements and investment, the market is projected to have significant growth.
The key players of the Data Warehouse as a Service Industry are continuously focusing upon innovations and new developments. Various strategies such as mergers, new ventures, partnerships, investments, acquisitions, and many more are applied by the key players. These tactics help the companies to increase their revenue and expand their portfolio. Some major key players of the Data Warehouse as a Service Business is listed below-
The overview of the Data Warehouse as a Service Market Analysis are listed below-
Report Score and Segmentation
The score of the report is to give information about the Data Warehouse as a Service Market. The information in the report is collected from secondary and primary sources. It highlights the strengths and growth factors. Furthermore, it also contains information about the key players in the market.
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.