The global Cloud Data Warehouse Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period, to reach USD 12.9 billion by 2026 from USD 4.7 billion in 2021. Key factors that are expected to drive the growth of the market are the increasing role of business intelligence and data analytics in the enterprise management, growing dependence on data-driven decision-making to improve business performance, and requirement of regulatory governance and security.
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Operational data storage segment to grow at a higher CAGR during the forecast period
Based on the type, the market is segmented into two categories: enterprise data warehouse as service and operational data storage. The market for operational data storage is expected to grow at a higher CAGR during the forecast period. The growth is mainly attributed to the increasing demand for real-time data analytics and reporting. The implementation of ODS in an enterprise complements the existing data infrastructure and supports the current and future needs of the enterprise. In addition, the growing use of AI in data warehouses is likely to provide future growth opportunities for the ODS segment. Companies operating in the Cloud Data Warehouse Market provide advanced solutions to meet the rapid growth of data volumes and to adhere to regulatory compliance mandates.
Public cloud segment to account for a higher market share during the forecast period.
The Cloud Data Warehouse Market is segmented by deployment type into public and private cloud. The public cloud segment account for a higher share of the Cloud Data Warehouse Market during the forecast period due to increasing investments in mobility, collaboration and other remote working technology and infrastructure. While the private cloud model is gaining popularity in organizations to overcome security and data privacy challenges.
Unique Features in the Cloud Data Warehouse Market
With the seamless scalability provided by cloud data warehouses, enterprises may grow or shrink in response to their data processing and storage requirements without having to make large infrastructure investments.
Cloud data warehouses are frequently offered as managed services, which frees up businesses from having to handle infrastructure upkeep, updates, and management. Businesses are now able to concentrate on data analysis instead of IT operations.
In serverless architectures, which are offered by certain cloud data warehouses, computing resources are distributed and scaled automatically according to workload. Cost-effectiveness and easier management are the results of this.
Enabling an ecosystem that supports business intelligence, machine learning, and data analytics applications, cloud data warehouses interface with other cloud services and tools with ease.
Even with big datasets, cloud data warehouses can handle and analyse data quickly because to distributed computing and parallel processing. This makes near-real-time and real-time analytics possible.
Major Highlights of the Cloud Data Warehouse Market
Offering reliable cloud data warehousing solutions, major cloud service providers including Microsoft Azure, Google Cloud Platform (GCP), and Amazon Web Services (AWS) have maintained their market dominance.
Performance and scalability have been given a lot of attention in cloud data warehouses, enabling businesses to manage massive data volumes and adjust resources to meet demands.
Organisations now have access to fully managed cloud data warehousing solutions and serverless computing choices for increased productivity thanks to market trends towards managed services and serverless architectures.
Through seamless integration, cloud data warehouses have created an ecosystem that facilitates end-to-end data analysis and visualisation using a variety of analytics and business intelligence tools.
Global accessibility has been made possible by cloud data warehouses, which offer a centralised platform for data storage and analysis and allow remote teams to work together on data analytics projects.
Top Key Companies in the Cloud Data Warehouse Market
The Cloud Data Warehouse Market comprises major providers, such as AWS(US), IBM(US), Microsoft(US), Google(US), Oracle(US), SAP(Germany), Snowflake(US), Micro Focus(UK), Teradata(US), 1010Data(US), Cloudera(US), Pivotal(US), Yellowbrick(US), Veeva Systems(US), Actian(US), Marklogic(US), Netavis Software(Austria), Solver(US), Accur8 Software(US), AtScale(US), Panoply(US), SingleStore(US), and Transwarp(China). The study includes an in-depth competitive analysis of key players in the Cloud Data Warehouse Market with their company profiles, recent developments, COVID-19 developments, and key market strategies.
The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements, partnerships, mergers, and acquisitions, have been the most dominating strategies adopted by the major players from 2019 to 2021, which helped them strengthen their offerings and broaden their customer base.
AWS is a subsidiary of Amazon.com that offers cloud computing services. It provides a highly reliable, scalable, and low-cost infrastructure platform on the cloud across 190 countries to a large number of customers. The company has its data centers in the US, Europe, Brazil, Singapore, Japan, and Australia. The company’s major categories of offerings are AWS Management Console and AWS Command Line Interface. The major divisions of AWS products are Compute (Amazon EC2, AWS Lambda, VM Import/Export, and others), Storage and Content Delivery (Amazon S3, Amazon Glacier, AWS Storage Gateway, and others), Databases (Amazon RDS, Amazon Aurora, Amazon DynamoDB, and others), Networking (Amazon VPC, Amazon Route 53, and others), and Developer Tools. The company caters to various sectors, such as BFSI, healthcare, and travel and hospitality, through its technology platforms. These sectors are increasingly adopting cloud-based infrastructure services offered by the company.
IBM is one of the leading providers of a broad range of hardware, software, and related services. These software and services are required for various areas, ranging from mainframe computers to nanotechnology. The company also specializes in cloud, mobile, cognitive, security, research, Watson analytics, consulting, commerce, experience design, IoT, technology support, industry solutions, system services, IT infrastructure, resiliency services, and financing. It provides services such as business consulting, technology, financing, industry expertise, and training. The company’s major operations consist of six business segments: Global Technology Services, Cloud and Cognitive Software, Global Business Services, Systems, Global Financing, and Other. IBM caters to diverse industries, such as communications, BFSI, energy and utilities, hospitality, healthcare, retail, travel and transportation, government and public sector, media and entertainment, and education. It has a significant presence in more than 170 countries.
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