Proliferation of Data across Different Industries to Boost EDW Market Growth
New York, US, Jan. 25, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Enterprise Data Warehouse Market: Research Report By Deployment, By Product Type, By Data 2030”. The market will touch USD 9.13 billion at a 23.38% CAGR by 2030, according to the current Market Research Future report.
Enterprise Data Warehouse Market Competitive Analysis
Eminent industry players profiled in the global enterprise data warehouse market report include –
- ABB ltd (Switzerland)
- Accenture PLC (Ireland)
- Informatica (US)
- SAS Institute, Inc.(U.S.)
- Teradata Corporation (U.S.)
- Symantec Corporation (U.S.)
- IBM Corporation (U.S.)
- Oracle Corporation (U.S.)
- Intel Security (U.S)
- SAP SE (Germany).
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Enterprise Data Warehouse Market Report Scope:
| Report Metrics | Details |
| EDW Market Size by 2030 | USD 3.4 Billion |
| EDW Market CAGR during 2020-2030 | 23.38% |
| Base Year | 2019 |
| Forecast | 2020-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | High Degree of Adoption of Warehousing Solutions |
Drivers
Proliferation of Data across Different Industries to Boost Market Growth
The proliferation of data across industries is one of the main market development factors for business data warehouses. Around the world, industries are producing an increasing volume of data. Both financial and non-financial transactions are typically recorded and saved by corporations. As firms become more digital, data sets get more complicated and diverse. Adoption of commercial data warehouse solutions helps increase data processing and analysis across the majority of applications. As a result of the proliferation of data across industries, the global enterprise data warehouse market will grow in the next years.
Opportunities
Increasing Adoption of Cloud Computing to offer Robust Opportunities
The expansion of the market throughout the study period is attributed in part to the expanding popularity of cloud computing and the increasing demand for business analytics. Additionally, cloud computing is being used to gather different kinds of data from numerous sources and devices used in companies and store it in a data warehouse or data centers. The business data integration improves system performance overall and speeds up information extraction from large databases.
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Restraints
Data Security to act as Market Restraint
Data security may act as a market restraint over the forecast period. One of the main obstacles facing the market under consideration is data security issues. Data storage systems have improved in security over time as a result of the required safeguards being put in place to protect user data. Even yet, there is still a probability that such ideas will have an impact. The primary challenges to data security that the worldwide enterprise data warehouse industry faces are distributed denial-of-service (DDoS) attacks, insecure application programming interfaces (APIs), data breaches, data loss, & account hijacking. Data breaches and damage may result from this. As a result, during the forecast period, data security issues are predicted to negatively impact the growth of the worldwide corporate data warehouse market.
Challenges
Difficulties to Improve and Maintain Data Quality to act as Market Challenge
The difficulties to improve and maintain data quality, lack of standardization, lack of expertise, and the COVID-19 impact may act as market challenges over the forecast period.
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EDW Market Segmentation
The global enterprise data warehouse market is bifurcated based on methods, deployment, and vertical.
By methods, the market is segmented into analytical processing, g-data mining, and information processing.
By deployment, on-premise will lead the market over the forecast period. One of the main factors in the on-premise deployment mode’s supremacy is the early adoption of it by a variety of organizations and businesses for the deployment of a variety of software.
By vertical, BFSI will domineer the market over the forecast period. Enterprise data management solutions can assist current market participants in the BFSI sector in more effectively managing company-wide risks, enhancing sales and marketing operations, tracking and monitoring finance and accounting procedures, and effectively managing numerous compliances.
Regional Analysis
North America to Head Enterprise Data Warehouse Market
During the predetermined time, North America is anticipated to hold the largest market share for enterprise data warehouses. The primary cause of this is that it ethically seized control of the EDW market through the provision of services. The major market participants in the business are renowned for starting new initiatives. These programs represented adaptations in the form of alliances from various technology sectors in a certain area. The North American emerging markets are the USA and Canada.
These are very well observing the robust uptake of cutting-edge technology like cloud data warehousing solutions. The expansion can be ascribed to the rise in the need for timely, accurate information as well as the demand for risk management solutions. A number of businesses in the area, including Oracle, Amazon Web Service, and IBM, among others, place a high priority on digital transformation and are frequently regarded as early adopters of cutting-edge technologies like IoT, AI, big data analytics, and machine learning.
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The region’s businesses’ ongoing adoption of these cutting-edge technologies augurs well for the expansion of the local market. 36% of the market’s growth will be accounted for by North America. The US is the largest market in North America for enterprise data warehouses. The market in this region will expand more quickly than those in Europe, the Middle East, or South America. The technical maturity of various industries and the presence of multiple important players would assist the enterprise data warehouse market in North America over the projected period.
APAC to Have Admirable Growth in Enterprise Data Warehouse Market
Due to the region’s growing industry verticals and big data use, the Asia Pacific regional market is anticipated to have a substantial CAGR over the course of the projected period. Additionally, it is anticipated that the demand for enterprise data management would increase as a result of the increased popularity of cloud computing and the subsequent desire to increase operational effectiveness in large businesses and SMEs. The demand for EDM solutions is expected to increase throughout the projected period as a result of the region’s numerous governments supporting software businesses to create and develop free and open-source software for managing and remotely accessing a massive volume of data.
Industry Updates
January 2023- Snow Convert, a set of tools created by Mobilize.net that enables users to move their on-premises data to Snowflake’s cloud data warehouse, has been agreed to be acquired by Snowflake.
Related Reports:
Data Warehouse as a Service Market – By Usage, By Deployment, By Organization Size, By Application, By Vertical
IoT in Warehouse Market – By Solution, By Device, By Industry
Warehouse Management System (WMS) Market – By Service Type, By Application, By Region
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