The global data warehouse as a service (DWaaS) market is estimated to garner a hefty amount of revenue by growing at a CAGR of ~22% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing number of enterprises across the globe, coupled with the growing role of data analytics and business intelligence among them. In 2019, there were more than 210 million companies in the world, up from 202 million companies in 2019 and 195 million in 2018, respectively.
Along with these, rising advancements in internet of things technology, and escalating adoption of automation among large and small enterprises are projected to offer profitable opportunities to the market in the near future. Furthermore, generation of large amount of structured and unstructured data from a wide range of industries, such as BFSI, retail and manufacturing, is also expected to drive market growth in the forthcoming years.
The market is segmented by end user industry into BFSI, IT & telecom, government, retail, healthcare, and others, out of which, the healthcare segment is anticipated to observe robust growth in the global data warehouse as a service (DWaaS) market. This can be accounted to the increasing usage of DWaaS solutions in administrative and clinical areas in a healthcare facility. Apart from this, vast amounts of data generated in this industry in many areas, including pharmaceuticals testing and improving patient health. Additionally, on the basis of deployment, the public cloud segment is predicted to grab the largest share during the forecast period owing to the benefits of this type of cloud, such as ease of use with increased control over applications and corporate data. CLICK TO DOWNLOAD SAMPLE REPORT
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Regionally, the global data warehouse as a service (DWaaS) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of increasing implementation of cloud services in the region. The cloud infrastructure spending in China increased by about 65% in 2019, reaching a value of USD 11.5 billion. About 3% of the total IT expenditure of the country is spent on cloud services.
In addition, growing technological advancements and investments for adoption of data warehousing in several industries is also expected to drive market growth in the region in the coming years. Moreover, the market in North America is projected to acquire the largest share during the forecast period ascribing to the early adoption of data warehouses as businesses, and strong presence of major market players in the region.
The global data warehouse as a service (DWaaS) market is further classified on the basis of region as follows:
Our in-depth analysis of the global data warehouse as a service (DWaaS) market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increasing number of enterprises worldwide, and growing role of data analytics and business intelligence among organizations.
The market is anticipated to attain a CAGR of ~22% over the forecast period, i.e., 2022-2031.
Dearth of proper structure for access control is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the increasing implementation of cloud services in the region.
The major players in the market are Google, LLC, IBM Corporation, Microsoft Corporation, SAP SE, AtScale, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by deployment, application, end user industry, and by region.
The public cloud segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
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