The global data warehouse-as-a-service market size is expected to reach USD 27.10 billion by 2030 according to a new study by Polaris Market Research. The report “Data Warehouse-as-a-Service Market Share, Size, Trends, Industry Analysis Report, By Usage (Data Mining, Reporting, and Analytics), By Deployment (Private Cloud, Public Cloud, and Hybrid Cloud), By Application, By Vertical, By Region; Segment Forecast, 2022–2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The significant driving factors for the market growth are such as growing concern regarding the information complexity and manageability, coupled with escalating demand for high-speed analytics, as well as business intelligence. In addition, the growing penetration of the cloud systems and DWaaS model is also amplifying industry demand for these services across various sectors such as manufacturing, BFSI, government and public sector, media and entertainment, manufacturing, IT and ITeS, etc. Moreover, several emerging regions such as APAC and MEA are also creating various fruitful opportunities for industry growth in the near future.
Based on the deployment type, the pubic cloud segment is dominating with the highest shares in the global industry. The growing investments in mobility, continuous strategic movements by the leading companies such as mergers & acquisitions, as well as further remote working technologies and infrastructures are anticipating leading the segment demand worldwide. Whereas, hybrid cloud is projected to grow at the highest growth rate over the forthcoming scenario as it associates private and public cloud along with it facilitates applications and information shared between them. Thereby, it may increase business continuity, reduce operational costs, rises agility and innovations, and enhance scalability, which fuels the segment growth.
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The rapid advancements of large-scale data warehouses are spurring industry growth for these services as organizations are majorly focusing on business functioning instead of IT infrastructure because of escalating statistics volumes and complexity levels in the current IT infrastructure. Developments in cloud-based infrastructure are promoting enterprises to transfer their vital business activities to the cloud, which also comprises the penetration of cloud-based data warehouses and information marts. Cloud data warehouses play a very fundamental role as it assists in business intelligence tools for appropriately structuring the information and offering precise business insights. Hence, this factor may augment the market demand across the globe over the foreseen years.
Market participants such as Amazon Web Services, AtScale, Google, Actian Corporation, Hortonworks, Micro Focus, Microsoft Corporation, Mark Logic Corporation, Netavis GmbH, Oracle Corporation, SAP SE, Teradata Corporation, Veeva Systems Inc. are some of the key players operating in the global market.
Numerous market players are proposing their innovations across the global market for bolstering their geographical tracks. For instance, in February 2021, AWS launched its Amazon Redshift query editor, which supports clusters with advanced VPC routing, and longer query run time. It assists node varieties and the increased query turnaround time from 10 minutes to 24 hrs.
Polaris Market Research has segmented the data warehouse-as-a-service market report on the basis of usage, deployment type, application, vertical, and region:
Data Warehouse-as-a-Service, Usage Outlook (Revenue - USD Billion, 2018 - 2030)
Data Warehouse-as-a-Service, Deployment Type Outlook (Revenue - USD Billion, 2018 - 2030)
Data Warehouse-as-a-Service, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Data Warehouse-as-a-Service, Vertical Outlook (Revenue - USD Billion, 2018 - 2030)
Data Warehouse-as-a-Service, Regional Outlook (Revenue - USD Billion, 2018 - 2030)