Data Warehouse as a Service Market Sales, Consumption, Demand and Forecast 2019 2024 | Analysis of COVID-19
According to Market Research Future (MRFR) analysis, the global data warehouse as a service market is expected to reach USD 4.69 billion with a CAGR of 21.4% from 2019 to 2024 (forecast period). Adapting to the novel COVID-19 pandemic, the impact of COVID-19 pandemic on the global data warehouse as a service market is included in this report. The effect of the novel coronavirus pandemic on the growth of the global data warehouse as a service market is assessed and outlined in the report.
The data warehouse is a central repository of information that is evaluated in order to make better informed decisions. Transactional systems, relational databases, and other sources store the data in a data warehouse. Business analysts, data scientists, and decision-makers have access to data through business intelligence (BI) tools, SQL clients, and other analytic applications. Enterprises use reports, dashboards, and analytics tools to derive information from data, track business performance, and support decision-making. These reports, dashboards, and analytics tools are part of a data warehouse that stores data efficiently and delivers high-speed query results to many users at the same time. These data warehouses are made available to the enterprises on cloud, identified as data warehouses as services.
A massive rise in the volume of data is the main factor contributing to market growth. The growing need for compliance with regulations and standards such as HIPAA of 1996, EU GDPR, SOX Act of 2002 also contributes to market growth. In addition, the increasing adoption of the private cloud by organizations is also anticipated to propel the market. Nonetheless, concerns about privacy and protection are anticipated to limit market growth during the forecast period. Growing applications across verticals and rising demand from SMEs give lucrative opportunities to the major providers of DWaaS solutions in the global market.
The global market for data warehouse as a service industry has been segmented based on usage, deployment, organization size, application, and vertical.
Based on usage, the global market for DWaaS has been divided into data mining, reporting, and analytics.
Based on deployment mode, the global market for DWaaS has been classified as private cloud, public cloud, and hybrid cloud.
Based on organization size, the global market for DWaaS has been divided into small and medium-sized enterprises (SMEs) and large enterprises.
Based on application, the global market for DWaaS has been segmented into fraud detection and threat management, risk and compliance management, supply chain management, asset management, customer analytics, and others.
Based on vertical, the global market for DWaaS has been divided into banking, financial services and insurance (BFSI), government and public sector, retail & e-commerce, telecommunication and IT, healthcare and life sciences, manufacturing and automotive, travel and hospitality, media and entertainment, and others.
The global market for DWaaS has been examined for four regions—North America, Europe, Asia Pacific, and the rest of the world.
North America has the biggest market share due to the rapid growth of cloud technology in data storage. The USA, Canada, and Mexico are the dominant countries in the region. The US is the leading country due to the early adoption of the data warehouse as a service and initiatives taken by market players in the form of alliances with various technology players and product enhancements in the region.
The market in Europe is projected to be the second-largest during the assessment period owing to the increasing demand for DWaaS solutions due to the growing adoption in the BFSI sector.
The Asia Pacific is predicted to be the fastest-growing region in the global DWaaS market during the forecast period. The steadily increasing number of companies adopting these solutions across the BFSI and retail and e-commerce industries and the increasing volume of data are critical drivers for the growth of the DWaaS market in the Asia Pacific.
The key participants in the global DWaaS market are identified on the basis of their country of origin, regional presence, product diversification, recent key developments, and industry expertise. These include Amazon Web Services (US), Microsoft Corporation (US), , Oracle Corporation (US), SAP SE (Germany), Google (US), Micro Focus (UK), IBM Corporation (US), AtScale, Inc. (US), Teradata Corporation (US), Actian Corporation (US), Hortonworks (US), Veeva Systems Inc. (US), MarkLogic Corporation (US), Netavis Software GmbH (Austria) and Snowflake Inc. (US). The key strategies adopted by most participants are partnerships, agreements, collaborations, and the launch of solutions.
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