New York, US, Dec. 09, 2021 (GLOBE NEWSWIRE) -- DWaaS Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Data Warehouse as a Service Market information by Usage, by Deployment, by Application and Organization Size – forecast to 2028” market size to reach USD 7.69 Billion, growing at a compound annual growth rate of 24.5% by 2028.
DWaaS Market Scope:
The increasing investments in machine learning and artificial intelligence, growing trend of BYOD, and the use of artificial intelligence across industry verticals will offer robust opportunities for the market over the forecast period.
The complex interface of software and lack of skilled professionals may act as market challenge over the forecast period.
Dominant Key Players on Data Warehouse as a Service Market Covered are:
- Amazon Web Services (US)
- Microsoft Corporation (US)
- SAP SE (Germany)
- Oracle Corporation (US)
- IBM Corporation (US)
- Google (US)
- Teradata Corporation (US)
- AtScale Inc. (US)
- Hortonworks (US)
- Actian Corporation (US)
- Micro Focus (UK)
- Veeva Systems Inc. (US)
- Netavis Software GmbH (Austria)
- MarkLogic Corporation (US)
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Market USP Exclusively Encompassed:
DWaaS Market Drivers
Growing Need for Data Warehouses across Cloud-Based Deployment to Boost Market Growth
The growing need for data warehouse services across cloud-based deployment will boost market growth over the forecast period for the huge growth in the volume of unstructured and structured data generated across different industries like manufacturing industries, government and public sector, retail and e-commerce, and BFSI.
Growing Concern about Privacy and Security of Data to act as Market Restraint
The growing concern regarding the security and privacy of data may act as market restraint over the forecast period. The transmission of data amid systems can be susceptible to privacy breaches owing to the use of cloud computing. Besides, the growing cases of cyber-attacks can impede enterprises in opting for data warehouse solutions.
Browse In-depth Market Research Report (110 Pages) on Data Warehouse as a Service Market:
https://www.marketresearchfuture.com/reports/data-warehouse-as-a-service-market-7664
Segmentation of Market Covered in the Research:
The data warehouse as service market is bifurcated based on usage, vertical, deployment, organization size, and application.
By usage, the data warehouse as a service market is segmented into reporting, data mining, and analytics.
By vertical, the life sciences and healthcare segment will lead the market over the forecast period.
By deployment, the public cloud segment will dominate the market over the forecast period.
By organization size, the data warehouse as a service market is segmented into large enterprises and SMEs.
By application, the data warehouse as a service market is segmented into Threat Management and Fraud Detection, Asset Management, Compliance and Risk Management, Supply Chain Management, Customer Analytics, and Others.
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Regional Analysis
North America to Grasp Highest Share in Data Warehouse as a Service Market
North America will grasp the highest share in the data warehouse as a service market over the forecast period. Rising adoption of cloud technology in data warehousing, growing adoption in Mexico, Canada, and the US, early use of data warehouse as a service, the US taking initiatives from the industry players in the likes of partnerships with various technology players & product enhancements, the technologically advanced infrastructure, the accessibility of technologically-advanced data warehouse infrastructure, the US organizations being higher adopters of analytics solutions across different verticals, the presence of rapid demand for managing the operational data, the increased emergence of cloud solution providers, the increasing use of data analytics in BFSI, retail and e-commerce, healthcare, and government sectors, & consumers’ growing need for personalized services are adding to the global data warehouse as a service market growth in the region.
APAC to Have Significant Growth in Data Warehouse as a Service Market
The APAC region will have significant growth in the data warehouse as a service market over the forecast period. Growing need for data warehouse as a service that is cloud-supported and cloud-driven, increasing investments, technological advances across different industries such as BFSI followed by e-commerce, retail, and manufacturing, companies focusing to improve their customer service, companies exploring cloud and hosted alternatives for on-premise based data warehouse as a service solutions, and growing adoption of DWaaS in New Zealand, Australia, Japan, and China are adding to the global data warehouse as a service market growth in the region.
COVID-19 Impact on the Global Data Warehouse as a Service Market
The COVID-19 crisis possessed a positive effect on the data warehouse as a service market. The crisis and the proliferation of remote work environments have developed complex barriers for businesses to overcome. The latest economic slowdown with the effect of the crisis emphasizes the requirement for alternate business systems. It has become vital for businesses in embracing cloud computing and migrating to cloud data warehouses. This will assist organizations in having a stable business condition in short term while targeting expansion in the long run and continued growth. Companies across various verticals are leveraging various data warehouse services owing to different advantages like enterprise-grade security, scalability, low latency, and higher availability.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
