According to a recent report published by Allied Market Research, titled, “Data Warehousing Market by Type of Offering, Type of Data, Deployment Model, Enterprise Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021–2028,” the global data warehousing market size was valued at $21.18 billion in 2019, and is projected to reach $51.18 billion by 2028, growing at a CAGR of 10.7% from 2020 to 2028.
Data warehousing is a collection of methods, techniques, and tools used to support knowledge staff such as senior managers, directors, managers, and analysts to conduct data analyses that help perform decision-making processes and improve information resources. Furthermore, 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 data warehousing market. Conversely, emerging trend of adopting virtual data warehousing and growing application of AI in data warehouse are expected to provide lucrative opportunities for the growth of the global data warehousing market.
The large enterprise segment dominated the data warehousing market industry in 2019, and is projected to maintain its dominance during the forecast period, owing to surge in adoption of data warehousing tools by large enterprises to manage and analyze large quantity of data. Furthermore, the SMEs segment is expected to grow at a significant CAGR during the forecast period, owing to the need of these enterprises to discover real time data and to analyze large volume of data.
Region wise, the data warehousing market was dominated by North America in 2019, and is expected to retain its position during the forecast period. The major factor that drives the growth of the market in this region includes early adoption of advanced technology among the end users. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to increase in adoption of digital technologies across the emerging countries and growth in investment of key players in the China and India markets to expand their operations.
With the emergence of the global health crisis, various business systems have been facing unprecedented challenges right from product development to sales and services, thereby leading to closure of companies. COVID-19 pandemic has a moderate impact on the data warehousing market, achieving a growth rate of 3-4% in 2020. The pandemic has also proved to be a real test of corporate values and purpose. Consumers, investors, governments, and communities are expected to ultimately judge companies on their response to this period of disruption. Business leaders are expected to make rapid decisions and take immediate actions to sustain business operations to serve their customers, clients, and communities as well as to protect and support their workers. Furthermore, various key players of the market are introducing new strategies to enhance the customer experience and to improve their data warehousing market share in the pandemic situation.
Key Findings Of The Study
- By component, the solution segment held the major data warehousing market share. However, the service segment is expected to witness highest growth rate during the forecast period.
- By deployment model, the on-premise segment generated the highest revenue in 2019.
- By region, the data warehousing market size was dominated by North America However, Asia-Pacific is expected to witness significant growth in the upcoming years.
The key players profiled in the data warehousing market analysis are 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. This study includes data warehousing trends, data warehousing market analysis, and future estimations to determine the imminent investment pockets