The global data warehouse as a service market is expected to generate sales of approximately US$ 5,484.9 million. Over the next decade, from 2023 to 2033, the demand for these services is projected to grow at a steady annual rate of 22.4%, reaching an estimated value of US$ 41,511.6 million by 2033.
Data warehouses as a service are being heavily used by financial consulting businesses to relieve them of the burden of having to update their on-premise software on a regular basis. Furthermore, customers may access services from anywhere with quick internet connectivity, which is driving up demand for data warehousing as a service in the BFSI sector. In contrast to this, less qualified workers and significant investments in outdated systems are limiting the worldwide market.
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Potential Market Opportunity
During the forecast period, the market is estimated to witness significant growth due to the factors such as
- Rising investments in machine learning and artificial intelligence (AI).
- The growing BYOD (Bring Your Own Device) trend.
- The use of AI in numerous industry verticals.
Key Takeaways from the Data Warehouse as a Service (DWaaS) Market Report:
- By 2033, the data warehouse as a service market in the United Kingdom is likely to expand, with a CAGR of 21.6%.
- In 2022, the United States dominated the data warehouse as a service sector, with a share of 17.3%.
- The DWaaS market was significantly expanding, with a size of US$ 4,540.5 million in 2022.
- By 2033, the data warehouse as a service market in China is likely to expand, with a CAGR of 21.7%.
- In 2022, Australia expanded the DWaaS business, with an expected share of 4.3%.
- The market is anticipated to expand at a US$ 10,058.03 million valuation by 2026, with rising cloud solutions.
- By 2033, India is projected to expand significantly in the data warehouse as a service market, with a share of 22.6%.
- Japan’s data warehouse as a service industry share expanded significantly, with a 6.8% share in 2022.
- In 2022, the enterprise DWaaS dominated the market with a share of 54.8%. It is anticipated to control the market by 2033 in terms of type.
- Based on application, business intelligence dominated the market with a share of 26.5% in 2022.
Leading Key Players:
- Amazon Inc
- IBM Corp
- Microsoft Corp
- Google LLC
- Oracle Systems Corp.
- SAP SE
- Snowflake Computing Inc.
- Micro Focus International Plc
- Teradata Corp
- Cloudera Inc.
- Pivotal Software Inc.
- Yellowbrick Data Inc.
- Veeva Systems Inc.
- Actian Corp.
- Marklogic Corp.
- Netavis Software
- Accur8 Software Solutions LLC
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Recent Developments:
- Amazon Web Services and HCL Technologies joined forces in June 2022. HCL can provide enterprise data warehousing solutions that are scalable, economical, and high-performing thanks to AWS.
- HCL Technologies receives data-driven business insights from Amazon Redshift that are supported by cutting-edge AI/ML capabilities. It is to enhance decision-making, and operational effectiveness, and accelerate time to market.
- The Vertical Accelerator, a brand-new, comprehensive software-as-a-service (SaaS) offering, became publicly accessible in September 2021, according to Vertica Systems, a provider of analytical database management software with a United States base.
Data Warehouse as a Service (DWaaS) Market Segmentation:
By Type:
- Enterprise DWaaS
- Operational data storage
By Application:
- Customer Analytics
- Operational Analytics
- Business Intelligence
- Predictive Analytics
- Data Modernization
By Vertical:
- BFSI
- Energy and utilities
- IT and ITeS
- Media and Entertainment
- Retail and consumer goods
- Healthcare and life sciences
- Government and public sector
- Manufacturing
- Others
By Deployment Mode:
- Public Cloud
- Private Cloud
By Organization Size:
- Large Enterprises
- SMEs
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
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