USD 51.18 Billion Data Warehousing Market Expected to Reach by 2028 | Top Players Such as- Teradata, Cloudera, Actian & Snowflake
The global data warehousing industry generated USD 21.18 billion in 2019, and is expected to reach USD 51.18 billion by 2028, registering a CAGR of 10.7% from 2021 to 2028.
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Increase in demand for column-oriented data warehouse solutions to perform advanced analytics, rapid adoption of virtual data warehousing, and 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, high implementation cost and complexity of data warehousing hinder the market growth. Moreover, surge in application of artificial intelligence in data warehousing is expected create multiple opportunities for the market players in the future.
The data warehousing market is segmented on the basis of type of offering, type of data, deployment, enterprise size, industry vertical, and region. In terms of type of offering, it is classified into ETL solutions, statistical analysis, data mining, and others. By type of data, it is bifurcated into unstructured data and semi structured & structured data. By deployment model, it is fragmented into on-premise, cloud data warehousing, and hybrid. By enterprise size, it is segregated into large enterprises and small and medium enterprises (SMEs). By industry vertical segment, it is divided into BFSI, IT & telecom, government, manufacturing, retail, healthcare, media & entertainment, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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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.
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.
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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.
Major industry players such as - 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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Impact of Covid-19 Pandemic on Data Warehousing Market:
● The Covid-19 outbreak resulted in declined demand for data warehousing due to 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.
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