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Cloud Data Warehouse Market Size, Share Analysis And Outlook By 2033
Cloud Data Warehouse Market Size
According to The Business Research Company's, The cloud data warehouse market size has grown exponentially in recent years. It will grow from $7.3 billion in 2023 to $9.18 billion in 2024 at a compound annual growth rate (CAGR) of 25.6%. The growth in the historic period can be attributed to increased data volume, increase of workload patterns, data quality issues, demand for data ingestion rate, infrastructure utilization.
The cloud data warehouse market size is expected to see exponential growth in the next few years. It will grow to $22.96 billion in 2028 at a compound annual growth rate (CAGR) of 25.8%. The growth in the forecast period can be attributed to increasing business growth projections, rapid deployment of largescale cloud dataware houses emerging data types, query complexity, increasing adoption of cloud services. Major trends in the forecast period include hybrid cloud data warehousing, advanced data integration, blockchain integration, data mesh architecture, edge-to-cloud data processing, quantum computing impact.
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Market Drivers and Trends:
The increasing number of IoT-connected devices is expected to propel the growth of the cloud data warehouse market going forward. IoT-connected devices refer to physical objects embedded with sensors, software, and connectivity features, enabling them to exchange data and interact with other devices or systems over the internet. IoT-connected devices are increasing for several reasons, such as efficiency and automation, improved decision-making, energy efficiency, smart city development, healthcare innovation, and environmental monitoring. Cloud data warehouses are highly scalable, allowing organizations to effortlessly scale their storage and processing capabilities to accommodate the increasing volume of data generated by IoT devices. For instance, in May 2023, according to reports published by IOT Analytics, a German-based industrial automation company, the global number of connected IoT devices was 16.7 billion, which increased by 18% in 2022 to 14.3 billion. Therefore, the increasing number of IOT-connected devices is driving the cloud data warehouse market.
Major companies operating in the cloud data warehouse market are focusing on developing new technologies, such as next-generation data warehouses, to gain a competitive edge. A next-generation data warehouse is an advanced platform incorporating cutting-edge features such as appliances, open-source technology, and cloud computing to manage and analyze data efficiently. For instance, in March 2023, SAP SE, a German-based software technology company, launched the Datasphere. It aims to provide businesses with a more unified experience for data integration, warehousing, semantic modeling, cataloging, and virtualization. It provides underlying capabilities, including database security, encryption, and governance, allowing for complex aggregations, time dependencies, data preview, business hierarchies, and more. It also includes a new data catalog that acts as a centralized repository for data and metadata, providing lineage and governance to ensure data accuracy and completeness.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Google LLC, Microsoft Corporation, Amazon Web Services, International Business Machines Corporation, Oracle Corporation, SAP SE, Micro Focus International plc, Veeva Systems Inc., Snowflake Inc., Teradata Corporation, Cloudera Inc., DataRobot Inc., MarkLogic Corporation, Actian Corporation, Yellowbrick Data Inc., AtScale Inc., Qubole Inc., Firebolt Labs Ltd., SingleStore Inc., Pivotal Software Inc., Solver Software Pty. Ltd., Cazena Inc., Accur8 Software Inc., Panoply Ltd., Netavis Software GmbH
Cloud Data Warehouse Market 2024 Key Insights:
• The cloud data warehouse market size is expected to see exponential growth in the next few years. It will grow to $22.96 billion in 2028 at a compound annual growth rate (CAGR) of 25.8%.
• IoT-Connected Devices Fueling Cloud Data Warehouse Market Expansion
• Revolutionizing Cloud Data Warehousing By Next-Generation Data Warehouse
• Asia-Pacific was the largest region in the cloud data warehouse market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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