Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Cloud Datawarehouse Market size is expected to reach $17.8 billion by 2028, rising at a market growth of 21.5% CAGR during the forecast period.
The Enterprise DWaaS segment acquired maximum revenue share in the Global Cloud Datawarehouse Market by Type in 2021; thereby, achieving a market value of $11.5 billion by 2028. An enterprise data warehouse is a key component of business intelligence (BI) solution, and it's built around a company's specific data management and analytics requirements. The company deploys an enterprise data warehouse in the cloud, eliminating the need to purchase and maintain hardware and software.
The Business Intelligence segment is showcasing a CAGR of 21.8% during (2022 - 2028). Data warehouses serve as the foundation for business intelligence. They gather data from various sources and store it in a repository that can be used as a unified view for analytics in an organization. For analytics processing, the library is structured and optimized. Data warehouses used to be on-premises systems with fixed processing and storage capacity, which meant they couldn't easily or quickly scale up when demand spiked.
The Public segment is leading the Global Cloud Datawarehouse Market by Deployment Model in 2021, thereby, achieving a market value of $13.1 billion by 2028. In the public sector, data warehouses are used to collect intelligence. It assists government entities in keeping and analyzing tax records and healthcare records for each individual. The Government Data Warehouse is a single, subject-centric database that delivers a centralized view of Civil Service data that is optimized for reporting and analysis. The data warehouse, in particular, contains selected transactions and interrelated information from multiple Government Information Systems, designed specifically for dynamic queries and analysis.
The Small & Medium Enterprises segment has shown growth rate of 23.2% during (2022 - 2028). Due to the high expenses of operating a traditional data warehouse, small and medium businesses have been denied access, but with the help of the cloud, these barriers have been significantly reduced. Cloud Data Warehousing reduces expenses and eliminates the heavy lifting of infrastructure construction, allowing business owners to concentrate on their core competencies.
The BFSI market dominated the Global Cloud Datawarehouse Market by Vertical in 2021, thereby, achieving a market value of $4.1 billion by 2028. Banking sectors can now acquire in-depth customer insights using cloud data by combining upgraded and pertinent customer data with predictive analytics. This enables banks to give more tailored experiences across a variety of channels. In banks, proper data management assures the quality and consistency of information. Data warehousing development services assist banks in developing more efficient data gathering, processing, storage, interchange, and analysis operations. The major goals of DWH software are to collect data from diverse sources and convert it into useful insights.
North America is the fastest growing region in the Global Cloud Datawarehouse Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6.4 billion by 2028. The Europe market is estimated to witness a CAGR of 21.2% during (2022 - 2028). Additionally, The Asia Pacific market would exhibit a CAGR of 22.4% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Amazon Web Services, Inc., IBM Corporation, Microsoft Corporation, Google LLC, Oracle Corporation, SAP SE, Micro Focus International PLC, Teradata Corporation, Cloudera, Inc., and Snowflake, Inc.
By Deployment Model
By Organization Size
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