The global data warehousing market size was valued at USD 21.18 Billion in 2019, and is projected to reach USD 51.18 Billion by 2028, growing at a CAGR of 10.7% from 2020 to 2028. Increase in need for dedicated storage system for surge in volume of data, rise in demand for column-oriented data warehouse solutions to perform advanced analytics, the need for low-latency, real-time view, and analytics on operational data are some of the major factors that drive the global data warehousing market growth.
Solutions for cloud-based data warehousing are becoming more widely used. Scalability, flexibility, and cost-effectiveness are all features of cloud data warehousing, which enables businesses to store and analyze massive amounts of data without making significant infrastructure expenditures. This factor is expected to drive the growth of the Data Warehousing Market.
Many businesses are switching to a hybrid strategy that combines on-premises data warehousing with cloud-based services. They may take advantage of the advantages of both environments by employing this hybrid architecture, which lets businesses keep sensitive data on-premises while using the cloud for scalability and agility. This factor is expected to drive the growth of the Data Warehousing Market
In order for organizations to make quicker and more informed choices, real-time data analysis is now essential. Organizations can gather, process, and analyze data almost instantly using real-time data warehousing, giving them insightful data for quick action. This factor is expected to drive the growth of the Data Warehousing Market.
Data governance and security are becoming major issues due to the growing amount of data being kept and analyzed. To safeguard sensitive data and adhere to laws like the GDPR (General Data Protection Regulation) and CCPA (California Consumer Privacy Act), organizations are putting a lot of effort into building strong data governance frameworks and security measures. Advanced analytics methods and technologies including machine learning, artificial intelligence, and predictive analytics are being merged with data warehousing. Organizations may gain better insights from their data and find hidden patterns and trends thanks to this connection. This factor is expected to drive the growth of the Data Warehousing Market High data quality must be maintained to allow for reliable analysis and decision-making.
To sanitize, validate, and preserve the integrity of the data in their data warehouses, organizations are investing in data quality management technologies and procedures. Business users are given the ability to access and analyze data independently through self-service data warehousing, reducing their dependency on IT departments. Organizations are using self-service technologies and user interfaces to increase non-technical users' access to data warehousing, allowing them to gain insights and make data-driven choices. This factor is expected to drive the growth of the Data Warehousing Market.
The data warehousing market is segmented on the basis of type of offering, type of data, deployment, enterprise size, industry vertical, and region. In terms of type of offering, it is classified into ETL solutions, statistical analysis, data mining, and others. By type of data, it is bifurcated into unstructured data and semi structured & structured data. By deployment model, it is fragmented into on-premise, cloud data warehousing, and hybrid. By enterprise size, it is segregated into large enterprises and small and medium enterprises (SMEs). By industry vertical segment, it is divided into BFSI, IT & telecom, government, manufacturing, retail, healthcare, media & entertainment, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the data warehousing market analysis include Actian Corporation, Amazon.com. Inc., Cloudera, Inc., Google Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP, Snowflake, Inc., and Teradata Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the data warehousing industry.
The data warehousing market has witnessed significant growth in the past few years; however, due to the outbreak of the COVID-19 pandemic, the market witnessed a sudden downfall in 2020. This is attributed to implementation of lockdown by governments in majority of the countries and the shutdown of travel across the world to prevent the transmission of virus. The data warehousing market is projected to prosper in the upcoming years after the recovery from the COVID-19 pandemic. Various organizations across the globe have initiated work-from-home culture for their employees, which is creating demand for the cloud-based data warehousing software to manage and analyze critical information of organizations, thus, creating lucrative growth opportunities for the market.
Emerging trend of adopting virtual data warehousing: A virtual data warehouse offers a condensed outlook of the data inventory that comprises meta data. It utilizes middleware to form connections to different data sources. It can be fast as it lets users to filter the most important parts of data from various legacy applications. The metadata is used for establishing logical enterprise data model and it is contained in virtual data warehousing. Furthermore, virtual data warehousing approach entails less time and expenditure to develop, and involves less risk of data loss. It is schema-less model and independent on the IT strategy. It can easily accommodate the changes, if made in the business. As the requirements change, modifying the models and redeveloping the views from the virtual mart or store can be done in very less time after adopting virtual data warehousing. In addition, data virtualization reduces both times to solution and ongoing operating costs, as much as four-fold, by avoiding physical data replication with its associated storage and support requirements.
Furthermore, the data lake is expected to become increasingly popular, with the increase in the amount of unstructured data. Data Lake is a newer technology that stores both structured and unstructured data in its original form, and processes it later on-demand. However, the databases and data warehouses are anticipated to hold essential place always.
Surge in Application of AI in Data Warehouse: Artificial Intelligence (AI) and Machine Learning (ML) technologies are disrupting the data warehousing solutions. The use of AI and ML facilitates a smart data warehouse that automatically optimizes and transforms data to user requirements, using machine learning. Enterprises are applying these technologies to ultimately achieve the ability to convert data into value iteratively and continuously, which is estimated to distinguish it from its competitors and make it agile and innovative. It also helps in the automatic extraction of hidden predictive information from large databases and enables automated knowledge discovery, prediction, and forensic analysis through machine learning. Thus, the application of these technologies for data warehousing solutions is expected to offer great opportunities for the growth of the market during the forecast period.
Asia-Pacific would exhibit the highest CAGR of 12.5% during 2021-2028.
Key Benefits For Stakeholders
|
Report Metric |
Details |
|
Report Name |
Data Warehousing Market |
|
The market size in 2019 |
USD 21.18 Billion |
|
The revenue forecast in 2028 |
USD 51.18 Billion |
|
Growth Rate |
CAGR of 10.7% |
|
Type of Data |
Unstructured and Semi-Structured & Structured |
|
Type of Offerings |
ETL Solutions, Statistical Analysis, Data Mining |
|
Deployment Model |
On-Premise, Cloud, and Hybrid |
|
Enterprise Size |
Large Enterprises and Small & Medium Enterprises |
|
Industry Vertical |
BFSI, IT & telecom, Government, Manufacturing, Retail, Healthcare, Media & Entertainment |
Ans. The data warehousing market size was valued at USD 21.18 Billion in 2019, and is projected to reach USD 51.18 Billion by 2028, growing at a CAGR of 10.7% from 2020 to 2028.
Ans. Some of the major companies are Actian Corporation, Amazon.com. Inc., Cloudera, Inc., Google Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Snowflake, Inc., Teradata Corporation.
Ans. Asia pacific would exhibit the highest CAGR of 12.5% during 2021 - 2028.
$5370
$6450
$8995
HAVE A QUERY?
OUR CUSTOMER
Add to Cart
Add to Cart
Add to Cart
Add to Cart