MarketsandMarkets estimates the global data warehouse as a service market to grow from USD 1.2 billion in 2018 to USD 3.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.8%
NEW YORK, March 5, 2019 /PRNewswire/ --
Secured management of business data and applications are some of the key factors driving the growth of the market
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MarketsandMarkets estimates the global data warehouse as a service market to grow from USD 1.2 billion in 2018 to USD 3.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.8% during the forecast period. The key factors driving the data warehouse as a service market include rising adoption of private cloud coupled with increasing use of column-oriented data warehouse to perform advanced analytics. However, lack of skilled personnel and reluctance to shift from traditional ETL tools to cloud are hindering the growth of the market.
Cloud offering the major cost-effective environment for analytics is a factor driving the adoption of data storage
Organizations have been using data analytics to build strategies for maximizing profits.In addition to increased accessibility and utility, the management of data stored over the cloud requires less expenditure and the user can focus more on the product and staff.
The small and medium-sized organizations are focusing on its adoption to compete with the large organizations and gain more access to the data with minimum investments.
Digital transformation to build a digital ecosystem to enable seamless integration among data delivering greater business value is accelerating the growth of hybrid DWaaS
Although the cloud-based services are cost effective, their initial value lies in empowering business transformation.Hybrid deployment has witnessed increased adoption owing to its flexibility to customize solutions as per an organization's dynamic requirements, and data security and privacy.
Also, increased user and resource mobility, ongoing migrations of applications over the cloud, and the emergence of more sophisticated threats are leading organizations to adopt hybrid cloud solutions.
Growing cloud adoption coupled with expanding services by vendors such as Google and Amazon to drive APAC (Asia Pacific) data warehouse as a service market during the forecast period
China is one of the developing economies, which have undergone a tremendous transformation in the areas of manufacturing, telecommunication, and IT.The country has always set a benchmark for providing affordable solutions, which are exported to various parts of the world.
Being the most affordable market with a reliable workforce, the data warehouse as a service vendors have shown their interest in establishing the market in this country. Other countries, such as Japan, Singapore, and India, are leading in such adoption, as the vendors are expanding their presence into this region by entering into partnerships with different technology players or distributors to develop their sales channels.
In-depth interviews were conducted with the Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the data warehouse as a service market.
• By Company: Tier 1: 20%, Tier 2: 55%, and Tier 3: 25%
• By Designation: C-Level: 50%, Director Level: 25%, and Others: 25%
• By Region: North America: 60%, Europe: 20%, APAC: 10%, and RoW: 10%
The major vendors offering data warehouse as a service globally include IBM (US), AWS (US), Google (US), Microsoft (US), Snowflake (US), Teradata (US), SAP (Germany), Micro Focus (UK), Hortonworks (US), Cloudera (US), Actian (US), 1010data (US), Pivotal Software (US), Solver (US), Yellowbrick (US), Panoply (US), MarkLogic (US), MemSQL (US), Netavis (Austria), LUX Fund Technology & Solutions (US), Transwarp Technology (China), Accur8 Software (US), Atscale (US), and Veeva (US). The study includes in-depth competitive analysis of these key players in the data warehouse as a service market with their company profiles, recent developments, and key market strategies.
Research coverage
The data warehouse as a service market revenue is primarily classified into revenues from solutions, tools, and platforms.The revenue is associated with software and platform offerings associated with support and maintenance, training and education, and consulting services.
Other segmentation comprises type, usage, application, deployment model, organization size, industry vertical, and region.
Key benefits of the report
The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall data warehouse as a service market and the subsegments.This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with the information on the key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05726586
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