The Data Warehousing by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Data Warehousing, The data warehousing market size has grown rapidly in recent years. It will grow from $30.57 billion in 2023 to $34.52 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to growth in enterprise data volume, increased complexity of data analysis, business intelligence and reporting needs, expansion of cloud computing, adoption of data warehousing for decision support.
The data warehousing market size is expected to see rapid growth in the next few years. It will grow to $59.05 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to demand for real-time data analytics, growth in edge computing and iot data processing, emphasis on hybrid and multi-cloud data warehousing, increased focus on data security and privacy, growing demand for business intelligence and analytics solutions. Major trends in the forecast period include integration of artificial intelligence and machine learning in data warehousing, adoption of data lake architecture, use of in-memory processing for faster analytics, augmented analytics for enhanced business insights, focus on sustainable and green data warehousing practices.
The escalating proliferation of cloud technology is expected to propel the growth of the data warehousing market going forward. Cloud technology refers to the supply of computer services over the internet, including servers, storage, databases, networking, software, analytics, and intelligence. Cloud data warehouses enable customers to access and safeguard valuable data while maintaining processing speeds. For instance, according to Eurostat, the statistical office of the European Union (EU), in 2021, cloud computing was used by 41% of EU businesses, primarily for file storage and e-mail, and the usage grew in 2021 compared to 2020, especially in the retail sector. So, the escalating proliferation of cloud technology among enterprises is driving the data warehousing market growth.
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The data warehousing market covered in this report is segmented –
1) By Offering Type: ETL Solutions, Statistical Analysis, Data Mining, Other Offering Types
2) By Data Type: Unstructured Data, Semi-Structured & Structured Data
3) By Deployment Mode: On-Premise, Cloud, Hybrid
4) By Organization Type: Large enterprises, SMEs
5) By Industry Vertical: BFSI, IT and Telecom, Government, Manufacturing, Retail, Healthcare, Media and Entertainment, Other Industry Verticals
Innovations in data warehousing are a key trend gaining popularity in the data warehousing market. Major companies operating in data warehousing are introducing innovative products to strengthen their position in the market. For instance, in March 2021, Oracle, a US-based company operating in data warehousing, introduced a set of innovative enhancements to its autonomous data warehouse, the first self-driving cloud data warehouse. The innovative advancements include a single data platform built for businesses to transform, ingest, store, and govern all data and then run diverse analytical workloads from any source, including enterprise data warehouses and departmental systems.
The data warehousing market report table of contents includes:
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