MarketsandMarkets forecasts the global data warehouse as a service market to grow from USD 1.2 billion in 2018 to USD 3.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.8%. Rise of private cloud coupled with increased adoption of column-oriented data warehouse platform to perform advanced analytics are some of the factors driving the adoption during the forecast period.
Browse 74 market data Tables and 46 Figures spread through 166 Pages and in-depth TOC on “Data Warehouse as a Service (DWaaS) Market by Application (Customer Analytics, Asset Management, Fraud Detection & Threat Management), Usage, Industry Vertical, Deployment Model, Type (EDWaaS & ODS) & Organization Size – Global Forecast to 2023″
As enterprises are struggling to keep up with the speed and scale of data generated by numerous business applications and new varied data sources, machine learning and deep learning have emerged as disruptive technologies enabling enterprises to automate and visualize their data and analytics processes and deep dive into their big data repositories. The growing data has brought along the need for cloud-based data warehouse solutions. The concept has also garnered interest among the smaller and medium sized businesses, with cost as the major concern. These technologies enable such enterprises to operate and expand efficiently without investing in their own infrastructure and helps them to achieve what they desire in business intelligence and analytics sector. With the ever-increasing data from varied sources, the need for faster processing is rapidly gaining popularity to improve and personalize the consumer experience. The cloud data warehouses works over massive parallel processing, which speeds up the performance and adds value to business.
The supply chain management segment is projected to grow at the highest CAGR in the data warehouse as a service market. Supply chain basically envelopes the complete network of units and processes, such as businesses, organizations, individuals, methods, and procedures that are involved in the manufacturing and distribution of a commodity. A supply chain therefore involves a significantly complex set of processes right from the planning and sourcing of raw materials to the production, transportation, and distribution of the finished goods. Furthermore, with the involvement of several steps and procedures in the complete supply chain of any business, the amount of customer-centric as well as process-centric data generated becomes massive. Thus, the need to manage this data across multiple region is a major concern and, hence, the data warehouse as a service is witnessing accelerated growth around the globe.
The healthcare and pharmaceutical segment is projected to grow at the highest CAGR in the data warehouse as a service market. Data has become crucial for healthcare organizations, as it is used to create actionable intelligence and for precision medicine. As patients’ and other clinical data resides in disparate systems, it has become important for these organizations to optimize their performance using this data. The big data and analytics capabilities have expanded beyond the clinical and traditional research, and the researchers are now focusing on the implementation of analysis on a real-time basis. For example, the population data limited to a particular geography is being used to analyze the health trends to deliver effective patient care. Healthcare organizations have been able to associate patient data with their geospatial information and census information to recognize localized causes of specific disease and later to putting efforts to address them.
The geographic analysis of the data warehouse as a service market has been mainly segmented into 5 regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. North America is expected to be the overall leader in the adoption and implementation of data warehouse as a service tools and services, followed by Europe and APAC. Ever-increasing volume of data from various industries has created the need for solutions with faster processing capabilities to obtain rapid consumer insights and has triggered the adoption of data warehouse as a service applications in North America and Europe. Rapid technological advancements, digitalization, and globalization are expected to drive the high growth of the data warehouse as a service market in APAC. The market players are expanding their operations in this region to enhance their market share through business expansions and partnerships with the existing players in the region.
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