Vancouver, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The worldwide market for cloud data warehouses had a value of USD 5.80 billion in 2022, with a projected compound annual growth rate (CAGR) of 22.3% over the forecast duration. The escalating acceptance of cloud-centric technology within the realm of cloud data warehouses, coupled with a heightened need for adeptly managing substantial datasets for big data analytics, alongside the expanding influence of Artificial Intelligence (AI) and cloud security, stands as prominent catalysts fostering the progression of market revenue. Additionally, the upswing in strategic acquisitions and investments by principal market participants, in conjunction with the augmenting endeavors initiated by governments pertaining to cloud services, collectively contribute to the advancing revenue landscape of this market segment.
The prominent surge in the adoption of cloud-based technology within cloud data warehouses stands as a pivotal driver for the expansion in market revenue. In stark contrast to conventional on-premises data warehouses, cloud data warehouses offer a geographically borderless accessibility. Notably, contemporary data warehousing solutions incorporate robust access control mechanisms, ensuring that exclusively authorized personnel with business intelligence needs gain entry to the pertinent data. This innovative approach distributes the computational workload across numerous servers, expediting the processing of substantial data volumes with exceptional efficiency. The resultant enhanced computational capacity and streamlined data management empower enterprises to access current, precise, and enriched data promptly, catering to their real-time demands.
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Furthermore, the surge in acquisitions and investments undertaken by major market participants constitutes another compelling factor propelling the revenue augmentation. A notable illustration is observed through Informatica's significant enhancements to its AI-Powered Intelligent Data Management Cloud (IDMC) during the Informatica World 2023, the company's annual client conference held in Las Vegas on May 10, 2023. These advancements spanning data engineering, Master Data Management (MDM) utilities, and data governance functionalities are poised to furnish organizations with amplified cost savings, optimized resource utilization, heightened productivity, and expedited time-to-value outcomes.
However, security and privacy concerns about cloud storage, as well as the time-consuming recovery procedure of cloud backup & recovery solutions, are important factors that are projected to restrain revenue growth of the market during the forecast period. Furthermore, a shortage of trained employees in cloud data management and cloud data storage is limiting industry growth.
Nonetheless, the apprehensions surrounding security and privacy in relation to cloud storage, alongside the laborious nature of recovery processes associated with cloud backup and recovery solutions, emerge as significant considerations anticipated to impede the progression of market revenue over the envisaged timeframe. Additionally, the shortage of adequately trained personnel in the realms of cloud data management and cloud data storage adds a further restraint to the expansion of the industry.
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Scope of Research
| Report Details | Outcome |
| Market size in 2022 | USD 5.80 Billion |
| CAGR (2023–2032) | 22.3% |
| Revenue forecast to 2032 | USD 43.55 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019–2021 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | type, application, deployment type, organization type, end-use, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | Amazon.com, Inc., Alibaba Cloud, Huawei Technologies Co., Ltd., Google LLC, Microsoft, IBM, Hewlett Packard Enterprise Development LP, Oracle, Teradata., Snowflake Inc. |
| Customization scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global cloud data warehouse market is fairly fragmented with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective solutions. Some major players included in the global cloud data warehouse market report are:
-
- Amazon.com, Inc.
- Alibaba Cloud
- Huawei Technologies Co., Ltd.
- Google LLC
- Microsoft
- IBM
- Hewlett Packard Enterprise Development LP
- Oracle
- Teradata.
- Snowflake Inc.
Strategic Development
- On 3 May 2023, Oracle Autonomous Data Warehouse, the industry's first and only autonomous database driven by machine learning and optimized for analytics workloads, received major enhancements. Oracle is enabling native multi-cloud features along with standard-based data sharing throughout databases, facilitating data integration and analysis with a novel low-code-based tool,
- On 26 January 2022, Firebolt, the cloud data warehouse for developers of next-generation analytics experiences, announced a USD 100 million Series C fundraising round bringing the company's valuation to USD 1.4 billion just 12 months after releasing from stealth mode. This new round of funding raises the total amount invested to USD 269 million.
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Some Key Highlights From the Report
- The hybrid cloud segment accounted for largest revenue share in 2022. A hybrid cloud solution enables organizations to provide remote and dispersed people with on-demand access to data that is not confined to a single central location. With a hybrid cloud infrastructure, organizations can move any critical or secret data to their on-premises servers while making crucial apps and services available in the public cloud or accessible from any location with the proper credentials.
- The private cloud segment registered a significantly fast revenue growth rate in 2022. A private cloud is a type of Local Area Network (LAN) or Wide Area Network (WAN) that is only accessible by businesses because it is located within the same business. It enables users to transfer data between company departments without relying on public internet services such as Amazon Web Services, Microsoft Azure, Google Cloud Platform, and others.
- The cloud data warehouse market in North America accounted for largest revenue share in 2022 due to the presence of cloud server and IT companies in this region and their product development are creating a high demand for cloud data warehouses. For instance, on 14 September 2021, Snowflake, the Data Cloud company, announced the Financial Services Data Cloud, which brings together Snowflake's industry-tailored platform management capabilities, Snowflake- and partner-delivered solutions, and industry-critical datasets to assist Financial Services organizations in revolutionizing how they use data to drive business growth and deliver better customer experiences. Snowflake's Data Cloud enables businesses to increase top-line profits and innovate while limiting risk,
- On 11 December 2022, LSEG and Microsoft announced a 10-year strategic agreement for next-generation data and analytics solutions, as well as cloud infrastructure solutions; Microsoft will make an equity investment in LSEG through share acquisition. New cooperation with Microsoft Azure, AI, and Microsoft Teams to create LSEG's data infrastructure and deliver intuitive next-generation efficiency, data and analytics, and modeling applications.
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Emergen Research has segmented the global cloud data warehouse market on the basis of type, application, deployment type, organization type, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2019-2032)
- Operational data storage
- Enterprise DWaaS
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Customer Analytics
- Predictive Analytics
- Data Modernization
- Business Intelligence
- Others
- Deployment Type Outlook (Revenue, USD Billion; 2019-2032)
- Public cloud
- Private cloud
- Hybrid cloud
- Organization Type Outlook (Revenue, USD Billion; 2019-2032)
- SMEs
- Large enterprise
- End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Social Media Platforms
- IT & Telecommunication
- BFSI
- Healthcare
- Government and public sector
- Telecommunications
- Retail
- Media and entertainment
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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