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.
Data warehousing is a technique of constructing a data warehouse in which data from various heterogeneous data sources are stored. In addition to this, various businesses are using data warehouse to enhance their data quality and improve their decision making capability. Furthermore, data stored in the data warehouse helps organizations to deliver enhanced business intelligence solutions to the end users and provide a competitive advantage in the market.
With disrupting effects of COVID-19 on various sectors, many data warehousing service providers are adopting several business and marketing strategies, such as innovating their product portfolio with customized offerings. For instance, in February 2021, Google LLC introduced new speed-increasing capabilities for its BigQuery cloud data warehouse which improves enterprises analytics workflows capability by 5 times than previous capabilities.
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. In addition, increase in awareness of enterprises to utilize growth in streams of data from various sources in innovative ways and adoption of modern business intelligence tools by enterprises for which data warehousing is critical, are expected to fuel the growth of the market. Conversely, emerging trend of adopting virtual data warehousing and surge in application of AI in data warehousing are expected to provide lucrative opportunities for the growth of the global market.
By type of offering, the global data warehousing market is led by the ETL solutions segment in 2019, and is projected to maintain its dominance during the forecast period. This is attributed to increase in need for complex data management, operational resilience, advanced data profiling, and cleansing are the key factors expected to drive the market growth in the near future. However, the data mining segment is expected to grow at the highest rate during the forecast period, owing to rise in need of data mining solution among the organizations for searching different patterns of data for increasing the sales and profit of the organization.
By region, the data warehousing market was dominated by North America in 2019, and is expected to retain its position during the forecast period. The key factors that drive the North America market include growth in demand for automated analytics for customer behavior analytics, fraud & risk identification, and improved decision making for productivity as well as improvisation of businesses. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to surge in data storage, and analytics requirements of enterprises in various industry vertical such as BFSI, IT & telecom, government, and others.
The report focuses on the growth prospects, restraints, and trends of the global data warehousing industry. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the global data warehousing market.
ETL solutions is projected as one of the most lucrative segments.
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.
Semi-structured & Structured Data is projected as one of the most lucrative segments.
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.
On-Premise is projected as one of the most lucrative segments.
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.
Large Enterprises is projected as one of the most lucrative segments.
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.
BFSI is projected as one of the most lucrative segments.
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
By Type of Offering
By Data Type
By Deployment Model
By Enterprise Size
By Industry Vertical
By Region
KEY MARKET PLAYERS
|
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 |
|
Key Companies |
Actian Corporation, Amazon.com. Inc., Cloudera, Inc., Google Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Snowflake, Inc., Teradata Corporation |
