Data Warehousing Market size was valued at USD 31.24 billion in 2023 and is likely to reach USD 114.4 billion by 2036, registering around 10.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of data warehousing is estimated at USD 33.86 billion. The growth of the market can be attributed to the increasing demand for next-generation business intelligence, and rising need for dedicated storage systems for surge in volumes of data across the globe. Along with these, growing usage of mining for business intelligence and data analytics, and escalating proliferation of cloud technology among enterprises globally are also expected to drive significant market growth in the upcoming years. Furthermore, notable hike in the number of smartphone users, coupled with evolution of programming techniques with advancements in memory and core technologies are projected to offer abundant growth opportunities to the market in the near future. In 2020, more than 6 billion people around the world used smartphones, which is evaluated to grow up to more than 7 billion users by the end of 2024.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
10.5% |
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Base Year Market Size (2023) |
USD 31.24 billion |
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Forecast Year Market Size (2036) |
USD 114.4 billion |
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Regional Scope |
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The market is segmented by end user into retail, telecom & IT, BFSI, manufacturing, healthcare, government, and others, out of which, the BFSI segment is anticipated to hold the largest share in the data warehousing market. This can be accounted to the growing usage of big data analytics and data mining in this sector, and rising emphasis of banking companies to cut down on financial losses caused by malicious cyberattacks. Apart from these, advent of internet of things in the BFSI with connected devices such as ATMs, smart credit cards and mobile banking is also predicted to bolster the growth of the market in the coming years. Additionally, on the basis of offering, the cloud segment is assessed to observe significant growth during the forecast period owing to the multiple data type support, unlimited storage, and flexible pricing models offered by cloud warehousing.
Our in-depth analysis of the data warehousing market includes the following segments:
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By Data Type |
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By Deployment Model |
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By Offering |
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By End User
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Regionally, the data warehousing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of the increasing establishment of data centers for providing big data solutions, and rapidly growing IT infrastructure. In addition, surging spending on cloud technologies is also predicted to boost the market growth in the region in the coming years. In 2019, China spent approximately USD 13 billion on public cloud services, whereas Australia and India spent about USD 4 billion and USD 3 billion respectively. Moreover, the market in North America is expected to occupy the largest share during the forecast period ascribing to the presence of technologically advanced infrastructure for data warehousing, and strong footprint of market players in the region.
May 2021- AtScale launched CloudStart, an offering which enables customers to quickly integrate its product on top cloud data management platforms.
September 2019- Cloudera, Inc. announced the launch of a cloud-native service that allows quick deployment and easy administration of cloud data warehousing.
Author Credits: Abhishek Verma
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