The report"Data Warehouse as a Service (DWaaS) Market by Application (CustomerAnalytics, Asset Management, Fraud Detection & Threat Management), Usage,Industry Vertical, Deployment Model, Type (EDWaaS & ODS) & OrganizationSize - Global Forecast to 2023", The data warehouse as a service marketsize is expected to grow from USD 1.2 billion in 2018 to USD 3.4 billion by2023, at a Compound Annual Growth Rate (CAGR) of 23.8% during the forecastperiod. The key factors driving the data warehouse as a service market includeincrease in private cloud adoption, increased adoption of column-oriented datawarehouse to perform advanced analytics, and proliferation of data.
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BFSI toaccount for the largest market size in 2018
BFSI hasbeen a dominant industry across all regions, dealing with massive volumes ofcustomer data generated on a daily basis. The industry has observed highadoption of advanced technology solutions to manage and analyze this data.Further, the industry drives the adoption of advanced solutions required tocater to the regulatory and compliance requirements in the industry. Withadvanced cloud-based solutions available in the market, organizations in theBFSI industry are efficiently managing their data spread across variousdepartments and regions. Further, cloud-based data warehouses present a viablealternative to prevalent on-premises legacy data warehouses in the industry,enabling organizations to leverage cloud to lower their operational costs.
Theincreasing data privacy and security requirements to drive the adoption of datawarehouse services in SMEs and large enterprises
Cloud-baseddata warehouse enables organizations to get a comprehensive view of theircustomer transactions and data, enabling various teams across the organizationto quickly assort information and analyze it to drive customer engagementinitiatives. With data stored in a single repository, organizations can easilyensure the privacy and security of their customer and transactional data,reducing the risks associated with failure to comply with various industryregulations and compliance requirements.
Theoperational data store segment to grow at a higher CAGR during the forecastperiod
The datawarehouse as a service market by type has been segmented into enterprise datawarehouse as a service and operational data store. Operational data stores inthe data warehouse as a service market refer to cloud-based data warehousesolutions to store and analyzes data in real-time. Operational data stores areexpected to grow at a higher rate due to increasing demand for real-timeanalytics and reporting.
NorthAmerica to account for the largest market size during the forecast period
NorthAmerica constitutes the largest market size, due to the early adoption of datawarehouse solutions and supporting technologies, including data management,data governance, and security, in the region. Further, majority of the vendorsin the market are based in the region and have a strong presence across allmajor industries in the region. These vendors have taken up several marketgrowth initiatives in the form of partnerships with different technologyplayers to offer rapid analytics and data processing solutions. The presence ofmost of data warehouse as a service vendors, as well as, the widespreadawareness about these solutions would continue to account for the dominatingposition of the region in the global market during the forecast period.
The majorvendors offering data warehouse as a service globally include IBM (US),Microsoft (US), AWS (US), Oracle (US), Google (US), Teradata (US), SAP(Germany), Cloudera (US), Micro Focus (US), Pivotal Software (US), Snowflake(US), Hortonworks (US), Netavis (US), Accur8 Software (US), and 1010data (US).The study includes an in-depth competitive analysis of the key players in thedata warehouse as a service market, along with their company profiles, recentdevelopments, and key market strategies.
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