The Global Data Warehouse as a Service (DWaaS) Market was valued at USD 1.4 Bn in 2020 and is expected to reach USD 5.3 Bn by 2027, with a growing CAGR of 21.2% during the forecast period (2021-2027).
The data warehouse refers to the central repository in which raw data is transformed and stored in query-able forms. It is an information system containing historical and commutative data from single or multiple sources. Data Warehouse as a Service is an outsourcing model a service provider configures and manages the hardware and software resources a data warehouse requires, whereas the customer provides the data and pays for managed services.
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Global Data Warehouse as a Service (DWaaS) Market Dynamics:
The global data warehouse as a service market is growing with considerable CAGR during the forecast period, owing to the increasing demand for low latency and high-speed analytics. Industries are increasingly focused to provide real-time analytics and real-time solutions and therefore, the companies need data analysis quickly and efficiently with data assurance. Companies present worldwide are aimed to collect quality data warehouse solutions for better and informed business decisions. For instance, in October 2021, CloudMD Software & Services Inc., a Canada-based company announced that it received the U.S. Patent Approval for its Real-Time Intervention Platform (“RTIP”). The RTIP is expected to power the Company’s data warehouse to support real time analytics, data and outcomes.
Data warehouse analytics services provide companies with various advantages such as enabling historical insights, providing conformity, providing real-time data analytics, with security, and therefore the global data warehouse as a service market is experiencing market growth during the forecast period.
The Global Data Warehouse as a Service (DWaaS) Market Segmentation:
Company Profiles and Competitive Intelligence
The key players operating in the Data Warehouse as a Service (DWaaS) market are:
Based on application, the business intelligence segment is expanding at the highest growth rate in DWaaS market analysis during the forecast period owing to increased adoption of analytics in the companies
The business intelligence segment is estimated to grow at a significant growth rate for global DWaaS market during the forecast period owing to the increasing technological integration in the organizations, the adoption of intelligent solutions such as automated business analytics. Business intelligence analytics according to the data warehousing provides the definitive analytics solutions and therefore is another driving factor influencing the global data warehouse as a service market.
Based on the end-user industry, the Banking, Financial Services, and Insurance (BFSI) industry accounted for the majority share in the overall DWaaS market size owing to huge data generation across the segment, followed by the healthcare and life sciences industry
The BFSI segment held the largest market shares in the global data warehouse as a service market analysis owing to the large amount of data generated from the customers on daily basis. Companies need data warehousing solutions to automatically track the performance and behavior of the information stored in their systems and require analytics to develop innovative business insights and business strategies. The BFSI segment is expected to improve operational efficiency with business intelligence capabilities. For instance, in October 2021, NetSuite, the ERP software launched a new product feature addressing integration with banking systems and business-facing analytics. The new features are aimed to accelerate the decision making which would allow enabling organizations to quickly respond to changing customer needs and new market opportunities.
Based on regions, the DWaaS market in North America accounted for the largest share in 2020
North America held the largest market shares in the year 2020 and is estimated to grow with a high CAGR during the forecast period owing to the availability of technologically-advanced data warehouse infrastructure. North America is an early adopter of the technology and companies present in the region are observed to adopt analytics solutions across numerous industries. The demand for managing the operational data, coupled with the growing emergence of cloud solution providers is also driving the DWaaS market growth in North America during the forecast period.
The report also provides an in-depth analysis of DWaaS market dynamics such as drivers, restraints opportunities and challenges
Note: Challenges along with in-depth market dynamics analysis is mentioned in the report. Speak with Our Analyst
COVID-19 Impact on the Data Warehouse as a Service (DWaaS) Market Analysis
The Data Warehouse as a Service (DWaaS) market has been observed to grow during the pandemic. As the outbreak of covid-19 has imposed an industrial shutdown, the companies had to change their operational ways and shift to the virtual world. Companies were observed to shift to data warehouse storage and services to manage and gain valuable business insights to make informed decisions. Many of the data warehousing services were also used to analyze the covid-19 information. For instance, in June 2020, the Italian Protezione Civile Department introduced the Covid-Warehouse, a data warehouse that models, integrates, and stores the COVID-19 data and related data (e.g., pollution, demographics, climate, etc.). The Covid-Warehouse is aimed to face the COVID-19 data collection, harmonization, and integration problems, and gain informative insights.
The report also provides an in-depth analysis of key trends in the Data Warehouse as a Service (DWaaS) market
|1||The increasing trend of hybrid or multi-cloud data warehousing is observed to witness significant growth during the forecast period||Positive|
|2||The investments in the data warehouse and data lake modernization are observed to increase due to the pandemic and is estimated to grow throughout the forecast period||Positive|
|3||The demand from enterprises for agility, security, and modernization in the data warehousing is rising during the forecast period||Positive|
The report also provides an in-depth analysis of recent news developments and investments
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