DUBLIN--(BUSINESS WIRE)--The "Data Warehouse as a Service Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The data warehouse as a service market was valued at USD 1.44 billion in 2020 and is expected to reach USD 4.3 billion by 2026, at a CAGR of 20% over the forecast period 2021 - 2026.
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.
Companies Mentioned
- Amazon Web Services Inc.
- IBM Corporation
- Microsoft Corporation
- Google LLP
- Oracle Corporation
- SAP SE
- Micro Focus International PLC
- Cloudera Inc.
- Snowflake Computing Inc.
- Pivotal Software Inc.
- Yellowbrick B.V
- Teradata Corporation
- Veeva Systems Inc
Key Market Trends
BFSI Sector to Hold the Major Share
- Banking, financial services, and insurance are highly lucrative for growth in the Data Warehouse-as-a-Service market as it deals with massive customer data generated regularly. Due to a large amount of data generated across the BFSI sector, enterprises need data warehousing solutions to automatically track the performance and behavior of the information stored in their systems. Also, they require analytics to develop innovative business strategies and improve their overall operational efficiency through solutions with BI capabilities.Banks like BNY Mellon, Morgan Stanley, Bank of America, Credit Suisse, and PNC, are already working on strategies around Big Data in Banking, and other banks are rapidly catching up.
- Several FinTech start-ups are coming up in Silicon Valley, California, United States. This is expected to increase the lending business and upgrade the payments domain of retail banking institutions. This, in turn, will enhance credit underwriting procedures, as firms will lend to a considerable number of individuals and small businesses, with the help of big data analytics.
- Rising volume, variety, and velocity of the online data need analytics solutions, such as social media analytics, to understand the consumer buying behavior related to its respective products and service offerings. Therefore, insurance firms are increasingly adopting cloud-based data warehousing solutions, thereby, implementing social media monitoring and analytical tools on it to increase the sales of insurance products and to analyze customer sentiments related to insurance products.
Geographic Trends
- 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 operational data, along with the increased emergence of cloud solution providers.
- The market environment for cloud computing continue to develop across the region, as the availability and usage of cloud-based data warehouse solutions become more prevalent. Almost all enterprises are looking for a solution to reduce the time taken to search for data and improve the efficiency of both the employees and the organizations. This has increased the utilization of data warehouse-as-a-service, thereby, increasing the efficiency of business processes.
- Also, the scope and scale of alliances and partnerships among enterprises in the United States are expanding to support and expand upon provider offerings across the data warehouse services space. Also, the data warehouse providers of cloud services are becoming essential partners for many of the IT services firms, thereby, offering them flexibility and scale whenever they require.
- Moreover, 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 be stored, analyzed, and managed to stay competitive among the North America market, which is further anticipated to amplify the data warehousing market growth.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rapid adoption of cloud-based solutions and focus on real-time data analysis
4.3 Market Restraints
4.3.1 Concerns over data security
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.5 Impact of COVID-19 on the Market
4.6 Industry Value Chain Analysis
5 MARKET SEGMENTATION
5.1 Organization
5.1.1 Large Enterprises
5.1.2 Small and Medium Enterprises (SME)
5.2 End User Vertical
5.2.1 BFSI
5.2.2 Government
5.2.3 Healthcare
5.2.4 E-Commerce and Retail
5.2.5 Media and Entertainment
5.2.6 Other End-user Industries
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles*
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/eb1mue
