The increase in demand for column-oriented data warehouse solutions to perform advanced analytics, rapid adoption of virtual data warehousing, and the need for low-latency, real-time view and analytics on operational data fuel the growth of the global data warehousing market.
On the other hand, the high implementation costs and the complexity of data warehousing hinder market growth. Moreover, the surge in the application of artificial intelligence in data warehousing is expected to create multiple opportunities for market players in the future.
Key market players profiled in the report include Actian Corporation, Cloudera, Inc., Amazon.com. Inc., IBM Corporation, Google Inc., Oracle Corporation, Microsoft Corporation, Snowflake, Inc., SAP, and Teradata Corporation.
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As per the report published by Allied Market Research, the global data warehousing industry generated $21.18 billion in 2019, and is expected to reach $51.18 billion by 2028, registering a CAGR of 10.7% from 2021 to 2028.
Impact of Covid-19 Pandemic on Data Warehousing Market:
- The Covid-19 outbreak resulted in declined demand for data warehousing due to the implementation of country-wide lockdown and shutdown of international flights.
- Several companies implemented work-from-home culture, which in turn boosted demand for cloud-based data warehousing software to analyze and manage critical information of companies.
- Several data warehousing service providers implemented business and marketing strategies including innovating their product portfolio and customizing their offerings. Google LLC recently introduced BigQuery, a new speed-increasing cloud data warehouse to improve enterprise workflow.
The data warehousing market is segmented on the basis of type of offering, type of data, deployment, enterprise size, industry vertical, and region.
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Based on offering type, the ETL solutions segment dominated in 2019, holding around one-third of the global data warehousing market. Whereas, the data mining segment is estimated to exhibit the highest CAGR of 11.9% during the forecast period.
Based on deployment, the on-premise segment contributed more than two-fifths of the total market share in 2017 and is expected continue its leadership status by 2025. This is due to preference of organizations to protect sensitive data. However, the hybrid segment is expected to register the highest CAGR of 9.1% from 2018 to 2025, owing to efficient utilization of resources, faster data processing, and cost-effectiveness.
Based on data type, the semi-structured & structured data segment held the highest market share in 2019, accounting for more than three-fourths of the global data warehousing market. On the other hand, the unstructured data segment is expected to showcase the highest CAGR of 14.1% during the forecast period.
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Based on region, the market across North America accounted for largest share in 2019, holding nearly two-fifths of the market. Conversely, the global data warehousing market across Asia-Pacific is expected to register the highest CAGR of 12.5% from 2021 to 2028. The other regions studied in the report include LAMEA and Europe.
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