Data Warehousing Market to Reach USD 85.7 Billion by 2032; Increasing Prevalence of Column-Oriented Data Warehouse Solutions
Data warehousing market size from USD 30.2 billion in 2022 to USD 85.7 billion in 10 years. The increasing need for a dedicated storage system for the increasing volume of data drive the market’s growth. Adopting latest technologies for data warehousing solutions will likely present substantial market growth prospects throughout the projected period.
Newark, Jan. 01, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 30.2 billion data warehousing market will reach USD 85.7 billion by 2032. The major factors driving the data warehousing market are the need for real-time views and analytics on real operational data and the rise in artificial intelligence (AI) applications in data warehouses. Another important factor driving the market growth is the increasing prevalence of column-oriented data warehouse solutions due to their ability to perform advanced analytics. Furthermore, the data warehousing market would witness new opportunities throughout the previously mentioned forecast period due to increased demand from emerging economies. Furthermore, it is anticipated that the data lake will gain popularity as the amount of unstructured data increases. A data lake is a contemporary technology that stores unstructured and structured data in its unprocessed state and then processes them as needed. Databases and data warehouses are anticipated to play a significant role throughout the projected period.
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Key Insights on Data Warehousing Market
North America will account for the largest market size during the forecast period.
The requirement for real-time views and analytics on operational data and the growing usage of artificial intelligence (AI) in data warehouses have led to North America’s dominance in the data warehousing market. In several industries, US businesses use analytics solutions at a higher rate. Because of the high demand for managing operational data and the growing number of cloud solution providers, they are regarded as the industry leader.
The ETL solutions segment dominated the market with the most significant revenue of USD 9.06 billion.
The ETL solutions segment dominated the market with the most significant revenue of USD 9.06 billion. This is attributed to the growing requirement for sophisticated data management, operational resilience, sophisticated data profiling, and cleansing, which are the main drivers of the segment’s anticipated expansion.
The unstructured data segment dominated the market with the most significant revenue of USD 17.2 billion.
The unstructured data segment dominated the market with the most significant revenue of USD 17.2 billion. The market for unstructured data warehousing is expanding due to two key factors: the availability of essential underlying information and businesses’ use of unstructured data for advanced analytics.
The BFSI segment dominated the market with the most significant revenue of USD 5.7 billion.
The BFSI segment dominated the market with the most significant revenue of USD 5.7 billion. The BFSI industry has seen a rise in data warehousing solutions due to the companies’ extensive use of big data analytics and data mining.
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Drivers: Emerging trend of adopting virtual data warehousing
Metadata is included in the data inventory, and a virtual data warehouse provides a streamlined view. It connects to several data sources by use of middleware. It can be quick because it enables users to select the most crucial data from various older programs. Virtual data warehousing contains the metadata utilised to construct logical enterprise data models. Additionally, with the virtual data warehousing technique, there is less chance of data loss and less time and money required for development. It is an autonomous IT strategy model without schemas.
Restraint: High cost of activewear
The complexity of data warehousing, rising operating expenses, and ineffective data warehouse architecture are the primary problems impeding the market’s expansion. These variables will also present new problems for the data warehousing business during the projection above period.
Opportunity: Surge in AI application
Technologies related to artificial intelligence (AI) and machine learning (ML) are upending data warehousing systems. A smart data warehouse that automatically optimises and adapts data to user requirements using machine learning is made possible by the usage of AI and ML. Businesses are utilising these technologies to eventually be able to transform data into value iteratively and continuously. This sets the business apart from its rivals and makes it more creative and elegant. Additionally, it facilitates automated knowledge discovery, prediction, and forensic analysis through machine learning and automatically extracts latent predictive information from huge databases. Therefore, using these technologies for data warehousing solutions would present several market expansion opportunities throughout the projection period.
|Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
|Asia Pacific, Europe, South America, North America, and Middle East & Africa
|USD 85.7 Billion
|Data Warehousing Market CAGR
|Offering Type, Data Type, Industry Vertical
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Some of the major players operating in the data warehousing market are:
● IBM Corporation
● Google LLP
● SAP SE
● Cloudera Inc.
● Pivotal Software Inc.
● Teradata Corporation
● Amazon Web Services Inc.
● Microsoft Corporation
● Oracle Corporation
● Micro Focus International PLC
● Snowflake Computing Inc.
● Veeva Systems Inc
● Yellowbrick B.V
Key Segments covered in the market:
By Offering Type:
● Statistical Analysis
● ETL Solutions
● Data Mining
By Data Type:
● Semi-Structured & Structured Data
● Unstructured Data
By Industry Vertical:
● IT & Telecom
● Media & Entertainment
About the report:
The global data warehousing market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.
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