Data Warehouse as a Service Market
- March 2020 •
- 155 pages •
- Report ID: 5932777 •
- Format: PDF
"Owing to digitization, structured, semi-structured, and unstructured data is being created in huge amounts, within as well as outside business organizations. Deriving useful insights and then using them can lead to better decisions, which can potentially help businesses attract new customers and retain existing ones, enhance their operations, augment their revenue, and decrease risks in the future. Therefore, companies are adopting solutions that can help them store, manage, and analyze big data.
As a result of the above factors, the data warehouse as a service market is predicted to grow from $1.4 billion in 2019, at a 29.2% CAGR during the forecast period (2020–2030), to ultimately value $23.8 billion by 2030. Additionally, with DWaaS, the integration of business applications provided by third-party vendors becomes easy, which helps organizations with real-time data analysis for effective decision making.
Hybrid Cloud Deployment to Witness Fastest Market Growth
During the forecast period, hybrid cloud is expected to witness the highest data warehouse as a service market CAGR, of 33.2%, as this deployment mode combines the private and public clouds, to offer maintenance, ownership, control, updation, and data access and storage flexibility.
Enterprise data warehouse (EDW) was the largest category in the data warehouse as a service market during the historical period (2014–2019), as these solutions make classifying and accessing data from different sources possible. Further, such solutions can accumulate all the data in a single place and study multiple sets at one go.
Small and medium enterprises (SMEs) would witness faster integration of data warehousing solutions in the coming years, as they are focusing on leveraging improved technologies for storing and analyzing huge data sets, to predict the preference of customers at lower operational costs.
During the forecast period, analytics tools would witness the highest CAGR in the data warehouse as a service market, with businesses investing heavily in artificial intelligence (AI) and data analytics, to study consumers’ behavior and predict their preferences.
Supply chain management is predicted to be the fastest-growing division in the coming years, as data analytics is being swiftly incorporated into the supply chain process. Organizations are utilizing data warehousing solutions to derive actionable insights from supply chain data, to enhance order optimization, planning, scheduling, and distribution.
In 2019, the banking, financial services, and insurance (BFSI) sector held the largest data warehouse as a service market share, because this industry is generating high amounts of confidential data, witnessing an increasing number of cyber-attacks, and focusing on customer data security and regulatory compliance.
Till 2030, North America is projected to continue being the largest data warehouse as a service market, due to the growing focus of the retail and e-commerce, healthcare, BFSI, and government sectors on analyzing data, for deriving useful insights.
Major Players Engaging in Acquisitions and Partnerships for Expansion
In the past few years, many players in the data warehouse as a service market have either partnered with other companies or acquired them to widen their portfolio and customer base.
In June 2019, Looker Data Sciences Inc., a unified business intelligence (BI), embedded analytics, and data application platform, was acquired by Google LLC, for $2.6 billion in cash. By integrating its BigQuery with Looker’s extended visualization and BI tools, Google is providing its customers with better data insights, in lesser time.
In June 2019, Google LLC entered into a partnership with Snowflake Inc., for the deployment of the latter firm’s cloud-based data warehouse on Google Cloud. This move lets businesses together use Google’s enhanced machine learning and analytics solutions and the data warehouse of Snowflake.
International Business Machines (IBM) Corporation, Teradata Corporation, Google LLC, SAP SE, Snowflake Inc., Microsoft Corporation, Micro Focus International plc, AWS Inc., Oracle Corporation, 1010data Inc., Alibaba Group Holding Ltd., Cloudera Inc., Solver Inc., Pivotal Software Inc., Actian Corporation, Yellowbrick Data Inc., MemSQL Inc., Panoply Ltd., LUX Fund Technology & Solutions Inc., Netavis Software GmbH, MarkLogic Corporation, Transwarp Technology (Shanghai) Co. Ltd., Informatica LLC, Accur8 Software, PHEMI Systems Corporation, Cazena Inc., Huawei Technologies Co. Ltd., Veeva Systems Inc., and Neo4j Inc. are some of the major players operating in the data warehouse as a service market."