Data Warehouse as a Service Market size is projected to reach USD 31 billion by the end of 2035, expanding at a CAGR of 22% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of the data warehouse as a service was about USD 5 billion. The growth of the sector is set to be influenced by the increase in the amount of data. Every year about 327 million terabytes of data all across the world are created. Hence, in order to store data efficiently the need for a data warehouse as a service is growing.
For companies without the funds to invest in pricey infrastructure or software, a data warehouse as a service is a great alternative. Businesses that use DWaaS might save a sizable sum of money by only paying for those assets they really use. In addition, organizations have no need to fret about maintaining hardware or software since data is stored in the cloud, which may free up personnel to concentrate on other aspects of the business.
Growth Drivers
In order to enhance the experience of the customer historical data could be utilized. In order to give a better customer experience, the data warehouse has completely changed the means by which service models are created and deployed. Companies could analyze the stored data in the warehouse and further might make changes in their service in order to satisfy customers.
Currently, there are approximately 3 billion digital consumers which equates to about 32% of the population doing online shopping around the world. Hence, the demand for DWaaS is on the rise. Moreover, e-commerce stores supervise a lot of sensitive data, such as credit card details and client contact information, thus rendering them a tempting target for criminals. Furthermore, e-commerce enterprises may be subject to legislation that includes the GDPR or CCPA that governs the manner in which they handle, process, and keep this information. Hence, it makes it easy for e-commerce organizations to protect sensitive data by storing it in the data warehouse.
Data cleansing in data warehousing is increasingly being automated using artificial intelligence (AI). By utilizing AI to find and eliminate errors, inconsistencies, and missing data from a data warehouse, automated data cleansing, also known as data preparation, makes sure that the data is correct and trustworthy.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~22% |
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Base Year Market Size (2022) |
~ USD 5 Billion |
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Forecast Year Market Size (2035) |
~ USD 31 Billion |
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Regional Scope |
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End User Industry (BFSI, IT & Telecom, Government, Retail, Healthcare)
Data warehouse as a service market from the BFSI segment is poised to garner revenue of approximately USD 15 Billion by the end of 2035. One of the primary industries using the DWaaS is banking, financial services, and insurance, or BFSI. The need to reduce losses due to false/faulty claims, phishing attacks, and cyber-attacks is rapidly growing in the BFSI market. These solutions are commonly used to carry out predictive fraud analysis, increase security, and spot fake or incorrect claims. Another important application for DWaaS is the calculation and communication of numerical values for variables including the possibility that a policy would result in a claim, credit/investment risks, and potential earnings.
Deployment (Public Cloud, Private Cloud, Hybrid Cloud)
The hybrid cloud segment is estimated to hold about 50% share of the global data warehouse as a service market during the forecast period. Given that it has a chance to provide business continuity, scalability, and reduce operational costs, the hybrid cloud sector is anticipated to experience rapid expansion in the global market throughout the forecast period. Over the upcoming years, segment expansion is anticipated to be driven by these advantages.
Our in-depth analysis of the global market includes the following segments:
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Deployment |
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Application |
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End User Industry |
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North American Market Forecasts
The data warehouse as a service market in North America is poised to generate revenue of about USD 20 Billion by the end of 2035, backed by the growing adoption of cloud technology including public cloud as well as private cloud. Additionally, the availability of cutting-edge data warehousing infrastructure-as-a service in the region is anticipated to increase demand. Analytics solutions are quickly being adopted by businesses nationwide, especially in industries including retail, BFSI, healthcare, and others. The region's market is anticipated to increase as a result of the presence of cloud solution providers and the rising demand for managing operational information.
APAC Market Statistics
The data warehouse as a service market in Asia Pacific is set to have significant growth over the forecast period. It is projected that the category would grow as a result of the expanding technology developments and investments across several verticals in developing nations including China and India. It is projected that the category would grow as a result of the expanding technology developments and investments across several verticals in developing nations including China and India. Additionally, a number of key competitors in the worldwide market are expected to have serious issues due to the lower operational costs and higher productivity provided by businesses in the region. Companies in the Asia Pacific region are concentrating on enhancing customer service, which leads to higher customer retention.
Author Credits: Abhishek Verma, Hetal Singh
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