Data Warehousing Market Expected to Reach $51.18 Billion by 2028
Rapid adoption of hybrid-based artificial intelligence solutions among several industries for fraud detection, predictive maintenance, logistics services.
PORTLAND, PORTLAND, OR, UNITED STATE, February 28, 2022 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Data Warehousing Market by Type of Offering, Type of Data, Deployment Model, Enterprise Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021–2028,” the global data warehousing market size was valued at $21.18 billion in 2019, and is projected to reach $51.18 billion by 2028, growing at a CAGR of 10.7% from 2020 to 2028.
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The requirement for dedicated storage systems with generation of huge amount of data, surge in demand for column-oriented data warehouse solutions and need for real-time view and analytics drive the growth in the market. However, high cost of implementation and complexity restrain the market growth. On the other hand, increase in application of AI in data warehousing and rise in adoption of virtual data warehousing create new opportunities in the market.
The key players profiled in the data warehousing market analysis are Actian Corporation, Amazon.com. Inc., Cloudera, Inc., Google Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP, Snowflake, Inc., and Teradata Corporation.
Based on deployment, the on-premise segment contributed more than two-fifths of the total market share in 2017 and is expected continue its leadership status by 2025. This is due to preference of organizations to protect sensitive data. However, the hybrid segment is expected to register the highest CAGR of 9.1% from 2018 to 2025, owing to efficient utilization of resources, faster data processing, and cost-effectiveness.
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North America held the major market share in 2017, accounting for nearly two-fifths of the total share and will maintain its lead position by 2025. This is due to huge chunk of data generated by many organizations, trend of digitization, and adoption of advanced technologies. However, Asia-Pacific is expected to grow at the highest rate, with a CAGR of 9.9% from 2018 to 2025, owing to rise in data storage and analytics requirements in various industry verticals and surge in adoption of big data in the region.
Key Findings Of The Study
• By component, the solution segment held the major data warehousing market share. However, the service segment is expected to witness highest growth rate during the forecast period.
• By deployment model, the on-premise segment generated the highest revenue in 2019.
• By region, the data warehousing market size was dominated by North America However, Asia-Pacific is expected to witness significant growth in the upcoming years.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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