The data warehouse as a service market was valued at USD 1.44 billion in 2019 and is expected to reach USD 4.3 billion by 2025, at a CAGR of 20% over the forecast period 2020 - 2025. The growing interests of the companies to understand the available information regarding business process, products, customers and services to grab new business opportunities is positively impacting the market.
- The increasing need for data analytics solutions across various end-user industries is driving the growth of the data warehouse as a service market.
- Rapid growth in the data volumes is providing growth opportunities to the market.
- As the Data Warehouse service provider is performing the administration and management of data, the customer does not have to worry about staffing the data warehouse. This is making DWaaS an excellent choice for organizations with small or limited IT departments.
Scope of the Report
A Data Warehouse as a Service (DWaaS) is an outsourcing model in which a service provider configures and manages the hardware and software resources a data warehouse requires, and the customer provides the data and pays for the managed service. With DWaaS an organization need not spend money up front to create an on-premises data warehouse.
Key Market Trends
BFSI Sector to Hold the Major Share
- The banking and financial type of end-user is expected is to hold major share as this sector generates a high amount of data when compared to other end-user verticals, the organizations are showing interests to understand the available information regarding customers' interests and provide services accordingly. This would let them sustain the intense competition in the market. Apart from that, the growing number of regulations regarding the data security of customers due to increasing malware and data breaches is driving the growth of the market in this end-user vertical.
- As the competition among the market players is mounting day-by-day, companies have changed their focus towards providing a better experience to the customers to gain customer loyalty. This is encouraging the organizations in the BFSI sector to integrate machine learning and artificial intelligence that provide advanced analytics tools and solutions to analyze customer data to fulfill their requirements, understand the customer experience, and to make smarter predictions about their behavior and requirements.
- The traditional data storage solutions of many financial service companies are causing massive delays to gain financial insights on time, affecting the overall agility to carry out time-sensitive financial decisions to boost revenue, reduce cost, or assess market risk in near real-time. This has enabled the finance.
- North America is anticipated to have a significant market share, owing to the availability of technologically advanced data warehouse infrastructure. The US organizations are higher adopters of analytics solutions across several verticals and are considered as the leading country in the market due to the presence of significant demand for managing the operation data along with the increased emergence of cloud solution providers.
-The adoption of consumerization trends such as the usage of mobile devices and social networking is leading to an exponential rise in the volume of informational data that needs an effective way to store, analyze and manage the data to stay competitive amongst the North America market which is further anticipated to amplify the data warehousing market growth.
-The competitive landscape is consolidated with the presence of some of the prominent players across the region, such as Google LLC, Teradata Corp., SAP SE, IBM Corp., and Microsoft Corp., are some of the leading vendors that are placing significant emphasis on the formalization of professional services to support the data warehouse services delivery.
The data warehouse as a service market is highly competitive and consists of a few major players. In terms of market share, some of the players currently dominate the market. However, with technological advancement and product innovation, various mid-size companies are increasing their market presence by securing new contracts and by tapping new markets.
- October 2019 - Snowflake and Next Pathway Inc., the Automated Cloud Migration company, announced a strategic partnership to accelerate the migration from legacy data warehouses to Snowflake. Snowflake will license Next Pathway’s proprietary code translation technology, SHIFTTM, to provide Snowflake customers the ability to automate what is typically the most time-consuming, manual and costly task in a cloud migration effort legacy code conversion.
- September 2019 - IBIOS IT partners with IBM to deliver revolutionary POWER9 solutions. The new alliance enhances BIOS IT’s a diverse portfolio of x86-based solutions adding the full suite of IBM POWER9 AI-focused and scale-out systems. The POWER9 product range offers enhanced core and chip architecture for next-generation applications, providing the most capable solutions to ensure its customers gain real value, requires focused collaborations with world-renowned technology partners.
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