Data Warehouse as a Service Market 2019: Forecast by Regions, Types, Applications, Segments, Upcoming Opportunities, Trends and Industry Outlook 2024 | COVID-19 Impact
In a quickly changing market due to COVID-19 outbreak has built a different kind of revenue-generating platform. The global data warehouse as a service market is moving ahead with a massive intention to remain stable with revenues and project to redevelop its statistic approach amid the coronavirus pandemic. Thus, the study digs some of the dominant factors that are making the market still generating shares and how it would continue after the pandemic, mainly in the forecasted period (2019–2024).
The actual virus, SARS-CoV2, hasn’t been the only nasty, insidious brainless thing that global data warehouse as a service market 2020 has to deal with during the Covid-19 coronavirus pandemic. Yet, by studying over revenues generated, the market marks the highest possibility to remain stable in the coming years, claims Market Research Future. It says a percentage of 21.4 will be the momentum of growth that it will gain during 2019–2024, with a valuation of USD 4.69 billion.
MRFR finds that the new interests of the companies to understand the available information regarding products, business process, customers, and services to grab new business opportunities is positively impacting the market. There has been spread of information that the escalating need for data analytics solutions across various end-user industries is highly motivating the growth of the data warehouse as a service market.
On other parameters, global data warehousing as a service market is primarily driven by the systematic and efficient arrangement of data factors. Such a feature considerably reduces the computing cost along with combining data in one place, thereby boosting the market growth for the future. In fact, the swelling demand for big data trend is witnessed to lead with rising demand for analytics, which is also a pivotal factor bolstering the demand of data warehousing as a service market globally.
Furthermore, the rising demand for low latency and high-speed analytics simultaneously with the escalating role of business intelligence in enterprise management has played as an important factor boosting the global data warehousing as a service market. Moreover, ongoing demand for next-generation business intelligence, along with the increasing amount of data generated by an organization is liable to emphasize data warehousing market growth during the forecasted period.
The geographic analysis of the data warehouse as a service market trends has been conducted for regions of North America, Europe, Asia-Pacific, and the rest of the world.
North America grasps for the highest market share, owing to the rapid adoption of cloud technology in data warehousing. The US, Canada, and Mexico are the leading countries, and out of which, the US is the leading country being the early adopter for the data warehouse as a service. With this, this country has taken initiatives from the industry players in the form of partnerships with different technology players and product enhancements.
The market in Europe is anticipated to be the second-largest during the review period in support of escalating demand for DWaaS solutions. The growing adoption in the BFSI sector is the reason for the region’s high valuation.
Next is the Asia-Pacific region, which is anticipated to be the fastest-growing market in the global DWaaS market during the forecast period. A hastily increasing number of enterprises adopting these solutions across the BFSI and retail and e-commerce industries, as well as the rising volume of data, are the vital driving factors for the growth of the DWaaS market in Asia-Pacific.
The global data warehousing as a service market has been further studied for the segments of deployment, usage, application, organization size, and vertical.
In terms of usage segment, the global market has included reporting, data mining, and analytics.
In terms of the deployment mode segment, the global market has included public cloud, private cloud, and hybrid cloud.
In terms of organization size segment, the market has included small, medium-sized enterprises (SMEs) and large enterprises.
In terms of the application segment, the market has included supply chain management, fraud detection, and threat management, risk and compliance management, asset management, and customer analytics.
In terms of vertical segment, the global market has included financial services and insurance (BFSI), banking, telecommunication and IT, retail & e-commerce, manufacturing and automotive, healthcare and life sciences, travel and hospitality, government, and public sector, and media and entertainment.
The MRFR report has included vital players such as Amazon Web Services (US), Microsoft Corporation (US), SAP SE (Germany), Oracle Corporation (US), IBM Corporation (US), Google (US), Teradata Corporation (US), AtScale, Inc. (US), Hortonworks (US), Actian Corporation (US), Micro Focus (UK), Veeva Systems Inc. (US), Netavis Software GmbH (Austria) and MarkLogic Corporation (US).