Data Warehouse as a Service Market Synopsis:
The global data warehouse as a service market 2020 is estimated at a valuation of USD 4.69 billion by 2024, as per the report found on Market Research Future (MRFR). The study also states that the market is set to grow at a rate of 21.4% in the assessment period (2019–2024).
Data warehouse as a service continues to gain popularity as a central repository of information that is analyzed for a better-informed decision-making process. Business analysts, data scientists, and decision-makers can easily access the data through tools related to business intelligence (BI), SQL clients, and other analytics applications. These beneficiaries are making data warehouse as a service market strong year by year by giving a boom to all the latest information technology.
To this, the Data Warehouse as a Service Market Growth are made available to the businesses on the cloud. The foremost factor contributing to market growth is the tremendous increase in the volume of the data. In fact, the snowballing need for compliance with regulations and standards such as EU GDPR, SOX Act of 2002 HIPAA of 1996 is also causative to the market growth for the forecast period. Along with this, the mounting adoption of private cloud amongst organizations is also anticipated to compel the market’s growth.
On the flip side, the factor of concerns over privacy and security might have chances to limit market growth during the assessment period. However, the growing applications across verticals, as well as the rising demand from SME’s for massive, rewarding opportunities to the key providers of the data warehouse as a service solution in the global market, can thus motivate the market of the data warehouse as a service to a great extent.
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The significant players in the global data warehouse as a service market are listed as Google (US), Amazon Web Services (US), Microsoft Corporation (US), SAP SE (Germany), Oracle Corporation (US), IBM Corporation (US), Hortonworks (US), Teradata Corporation (US), AtScale, Inc. (US), Netavis Software GmbH (Austria), Veeva Systems Inc. (US), Actian Corporation (US), MarkLogic Corporation (US), Micro Focus (UK), and Snowflake Inc. (US). The strategies adopted by these market players are collaborations, agreements, partnerships, and the launch of solutions.
Through a comprehensive segmental analysis of the global data warehouse as a service market, the segments are mentioned as usage, deployment, organization size, application, and vertical.
- In terms of deployment mode: Private cloud, hybrid cloud, and public cloud are the segments.
- In terms of organization size: Small and medium-sized enterprises (SMEs), as well as large enterprises, are the segments.
- In terms of application: Fraud detection and threat management, risk and compliance management, asset management, supply chain management, customer analytics are the segments.
- In terms of vertical: Banking, Financial Services and Insurance (BFSI), telecommunication and IT, retail & e-commerce, manufacturing and automotive, healthcare and life sciences, travel and hospitality, government and public sector and media and entertainment are the segments.
Region-wise, global data warehouse as a service market studies the main regions of North America, Europe, Asia-Pacific, and the rest of the world for the market’s growth over time.
Among these regions, the North American region acquired the highest market share for the rapid adoption of cloud technology in data warehousing. The countries such as the US, Canada, and Mexico are the leading in the region. Among these, the US is the leading country due to the early acceptance of the data warehouse as a service, and the initiatives are taken by the industry players in the form of partnerships with various technology players and product enhancements.
The market in Europe is also anticipated to become the second-largest region during the review period owing to the rising demand for a data warehouse as a service solution due to the growing adoption in the BFSI sector.
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