Data Warehousing Market Projected to Garner $51.18 Billion by 2028
Data warehousing is a technique of constructing a data warehouse in which data from various heterogeneous data sources are stored.
PORTLAND, PORTLAND, OR, UNITED STATE, July 18, 2022 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, 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. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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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.
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.
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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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.
Key Findings :
• 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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