New York, April 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Data Warehousing Global Market Report 2023" - https://www.reportlinker.com/p06443911/?utm_source=GNW
The global data warehousing market grew from $27.93 billion in 2022 to $31.85 billion in 2023 at a compound annual growth rate (CAGR) of 14.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The data warehousing market is expected to grow to $53.8 billion in 2027 at a CAGR of 14.0%.
The data warehousing market consists of revenues earned by entities by providing operation data store, enterprise data warehouse and data mart.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The data warehousing refer to a particular form of data management system called a data warehouse intended to facilitate and support business intelligence (BI) activities, particularly analytics.Data warehouses frequently have a lot of historical data and are only meant to be used for queries and analysis.
This uses a variety of sources, including transaction programs and application log files.
North America was the largest region in the data warehousing market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this data warehousing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of offerings in data warehousing are ETL solutions, statistical analysis, data mining, and other offering types.ETL systems extract data, enforce data quality standards, conform data into a consistent format, and deliver data that is suitable for use by application developers to construct applications and by business users to make choices.
The various data types include unstructured data, semi-structured and structured data, and are deployed on-premise, cloud, and hybrid. The various organization types include large enterprises and SMEs. These are used in BFSI, IT and telecom, government, manufacturing, retail, healthcare, media and entertainment, and other industry verticals
The escalating proliferation of cloud technology is expected to propel the growth of the data warehousing market going forward.Cloud technology refers to the supply of computer services over the internet, including servers, storage, databases, networking, software, analytics, and intelligence.
Cloud data warehouses enable customers to access and safeguard valuable data while maintaining processing speeds.For instance, according to Eurostat, the statistical office of the European Union (EU), in 2021, cloud computing was used by 41% of EU businesses, primarily for file storage and e-mail, and the usage grew in 2021 compared to 2020, especially in the retail sector.
So, the escalating proliferation of cloud technology among enterprises is driving the growth of data warehousing.
Innovations in data warehousing are a key trend gaining popularity in the data warehousing market.Major companies operating in data warehousing are introducing innovative products to strengthen their position in the market.
For instance, in March 2021, Oracle, a US-based company operating in data warehousing, introduced a set of innovative enhancements to Oracle’s autonomous data warehouse, the first self-driving cloud data warehouse. The innovative advancements include a single data platform built for businesses to transform, ingest, store, and govern all data and then run diverse analytical workloads from any source, including enterprise data warehouses and departmental systems.
In June 2021, Clayton, Dubilier & Rice ("CD& R"), a US-based company, acquired Cloudera for a deal amount of approximately $5.3 billion. This purchase boosts Cloudera’s long-term path to hybrid cloud leadership for analytics that span the full data lifecycle while also providing significant and certain benefits to stockholders. Cloudera is a US-based company operating in the data warehousing market.
The countries covered in the data warehousing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The data warehousing market research report is one of a series of new reports that provides data warehousing market statistics, including data warehousing industry global market size, regional shares, competitors with a data warehousing market share, detailed data warehousing market segments, market trends and opportunities, and any further data you may need to thrive in the data warehousing industry. This data warehousing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06443911/?utm_source=GNW
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