Press release
Cloud Data Warehouse Market Global Industry Analysis, Business Development, Size, Forecast To 2033
Cloud Data Warehouse Market
The cloud data warehouse market size is expected to see exponential growth in the next few years. It will grow to $22.96 billion in 2028 at a compound annual growth rate (CAGR) of 25.8%. The growth in the forecast period can be attributed to increasing business growth projections, rapid deployment of largescale cloud dataware houses emerging data types, query complexity, increasing adoption of cloud services. Major trends in the forecast period include hybrid cloud data warehousing, advanced data integration, blockchain integration, data mesh architecture, edge-to-cloud data processing, quantum computing impact.
Market Overview -
A cloud data warehouse refers to a database stored in a public cloud that is optimized for scalable business intelligence (BI) and analytics. This is a centralized repository that stores and manages large volumes of structured and unstructured data in a cloud environment, enabling scalable analytics and data processing capabilities for businesses, data stores for efficient analytics, separation of storage and computing, data integration and management tools, scalable storage options, and enhanced security.
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IoT-Connected Devices Fueling Cloud Data Warehouse Market Expansion
The increasing number of IoT-connected devices is expected to propel the growth of the cloud data warehouse market going forward. IoT-connected devices refer to physical objects embedded with sensors, software, and connectivity features, enabling them to exchange data and interact with other devices or systems over the internet. IoT-connected devices are increasing for several reasons, such as efficiency and automation, improved decision-making, energy efficiency, smart city development, healthcare innovation, and environmental monitoring. Cloud data warehouses are highly scalable, allowing organizations to effortlessly scale their storage and processing capabilities to accommodate the increasing volume of data generated by IoT devices. For instance, in May 2023, according to reports published by IOT Analytics, a German-based industrial automation company, the global number of connected IoT devices was 16.7 billion, which increased by 18% in 2022 to 14.3 billion. Therefore, the increasing number of IOT-connected devices is driving the cloud data warehouse market.
Competitive Landscape -
Major companies operating in the cloud data warehouse market are Google LLC, Microsoft Corporation, Amazon Web Services, International Business Machines Corporation, Oracle Corporation, SAP SE, Micro Focus International plc, Veeva Systems Inc., Snowflake Inc., Teradata Corporation, Cloudera Inc., DataRobot Inc., MarkLogic Corporation, Actian Corporation, Yellowbrick Data Inc., AtScale Inc., Qubole Inc., Firebolt Labs Ltd., SingleStore Inc., Pivotal Software Inc., Solver Software Pty. Ltd., Cazena Inc., Accur8 Software Inc., Panoply Ltd., Netavis Software GmbH
Revolutionizing Cloud Data Warehousing By Next-Generation Data Warehouse
Major companies operating in the cloud data warehouse market are focusing on developing new technologies, such as next-generation data warehouses, to gain a competitive edge. A next-generation data warehouse is an advanced platform incorporating cutting-edge features such as appliances, open-source technology, and cloud computing to manage and analyze data efficiently. For instance, in March 2023, SAP SE, a German-based software technology company, launched the Datasphere. It aims to provide businesses with a more unified experience for data integration, warehousing, semantic modeling, cataloging, and virtualization. It provides underlying capabilities, including database security, encryption, and governance, allowing for complex aggregations, time dependencies, data preview, business hierarchies, and more. It also includes a new data catalog that acts as a centralized repository for data and metadata, providing lineage and governance to ensure data accuracy and completeness.
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Key Segments -
The cloud data warehouse market covered in this report is segmented -
1) By Type: Enterprise DWaaS, Operational data storage
2) By Deployment Model: Public cloud, Private Cloud
3) By organization size: Large Enterprises, Small and Medium-sized Enterprises
4) By Application: Business Intelligence, Customer Analytics, Data Modernization, Operational Analytics, Predictive Analytics
5) By Vertical: Energy and utilities, Government and public sector, Healthcare and life sciences, IT and ITeS, Manufacturing, Media and Entertainment, Retail and consumer goods, Telecommunications, Other Verticals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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