The global cloud data warehouses market was valued at $4.6 billion in 2021 and it is expected to reach $45.2 billion at a CAGR of 22.8% between 2022 and 2032. Multiple businesses can now easily expand or contract data warehouses to meet shifting company budgets and objectives. Due to the rising demand for multi-cloud data warehouses across many end-user industries, the market would witness growth opportunities.
By region, North America has led the global cloud data warehouses market with significant growth over the past few years.
Running applications over different clouds is known as multi-cloud. In a multi-cloud deployment, the customer receives compute, cloud storage, and network resources from many cloud providers including AWS, Google Cloud, and Microsoft Azure. Businesses utilize this tactic to combine two or more cloud computing platforms into a single, cohesive architecture. To satisfy the demands of a particular workload, a multi-cloud can be created utilizing a public, private, hybrid, or any mix of these clouds. These major factors are driving the growth of the multi-cloud data warehouses market over the past few years, and are also anticipated to drive the market growth during the forecast period. Moreover, a combination of the biggest public cloud providers such as Google Cloud Platform, Amazon Web Services, and Microsoft among others often makes up a multi-cloud strategy.
Source: SAI Research
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There are several benefits of using multi-cloud data warehouses, which are accelerating market growth. For instance, with a multi-cloud plan, a customer could combine clouds that offer various services to tailor their cloud computing capabilities. Combining the right IaaS alternatives boosts computing power and improves productivity. Through a single interface, users can access any cloud or several clouds. Moreover, businesses can improve their security, failover alternatives, and disaster recovery with a multi-cloud approach. It makes sure that data storage resources are always accessible, strengthening the organization's cloud deployment over time. Therefore, these advantages are projected to propel the market growth over the forecast period.
Two years ago, the epidemic situation of COVID-19 positively impacted the market growth. Most of the end-user industries were forced to adopt cloud computing and multi-cloud data warehouses due to complete lockdowns. This strategy helped many enterprises and companies to maintain their work through online services, and advanced technologies. Hence, the pandemic situation has increased the market for cloud data warehouses. However, several factors have been restraining the market growth. For instance, when operating with data warehouses, it's crucial to establish an access control structure. Most of the time, businesses are unable to identify which divisions and users need access to data warehouses. The system becomes overloaded and delays cannot be avoided when users are not evenly distributed and permissions are not granted. Furthermore, sensitive information could be gained by unauthorized individuals due to a serious lack of effective access control, which would significantly stunt organizational growth. As a result, a clear access control system is required when installing data warehouses. These issues are estimated to hamper market growth in the future. Multiple key players globally are focusing on producing new techniques and strategies to handle all these technical as well as manual problems.
Based on data type, the global multi-cloud data warehouse market is segmented into enterprise SaaS, operational data stores, and others. The Enterprise SaaS segment has driven the market with the largest market share and is anticipated to accelerate the market growth due to its rising demand and benefits. For instance, it is cost-effective, and it manages time. Additionally, due to its scalability, high compatibility, high adoption rates, and guaranteed level of services, this segment is driving the market over the past few years. However, operational data storage is also estimated to become the second-largest segment. Additionally, an ODS offers up-to-date, accurate data from numerous sources in one location, and the advantages mainly help business operations.
In terms of application, the market is categorized into customer analytics, predictive analytics, data modernization, business intelligence, and others. The customer analytics segment accounted for the largest share of the market and is projected to accelerate the market growth during the forecast period. When all data is stored in a CDW and analytics and BI tools are directly attached to it, businesses can create a clearer, more accurate picture of the activities that need to be taken inside their organization. The necessity for product and development marketing teams to sift through many data sources in search of meaningful information is eliminated by a CDW. The benefits of this segment would boost the market growth.
By the end-user, the market is divided into BFSI, IT and Telecom, media and entertainment, medical sectors, energy and utilities, retail, and customer goods, among others. Among these, medical sectors held the largest share of the market and are projected to propel the market growth during the forecast period. Due to the industry's rapid growth and technological advancements that are bolstering the entire industry vertical, the medical sector is one of the fastest-growing verticals. In recent years, the value of accurate information and the demand for top-notch medical administrations have both increased.
Geographically, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and Africa. North America has been dominating the global multi-cloud data warehouses market over the past few years. This region is also estimated to hold its dominant position in the upcoming years. The headquarters of most of the key players are located in North American countries, which is a plus point for the market and various end-user industries. The majority of people have switched to remote jobs. Additionally, digitalization has greatly benefited Canada's industry. Although the research does not establish a cause-and-effect relationship, it does demonstrate that digitization is related to higher labor productivity increases. Due to these rising benefits and major factors, the market is expected to witness more growth opportunities in the future.
Key players such as 1010Data (U.S), Alphabet Inc (U.S), Amazon (U.S), IBM (U.S), Micro Focus (U.K), Microsoft (U.S), Netavis (Austria), Oracle Corp (U.S), Pivotal (U.S), Single Store (U.S), SnowFlake (U.S), SAP (Germany), Teradata (U.S), Transwarp (China), Veeva Systems (U.S), Yellowbrick (U.S), among others are leading the global cloud data warehouses market.
Scope of the Report:
|Market Size in 2021||US$ 4.6 Billion|
|Market Volume Projection by 2032||US$ 45.2 Billion|
|Forecast Period 2022 to 2032 CAGR||22.8%|
|Historical Data||2019, 2020 and 2021|
|Forecast Period||2022 to 2032|
By Data Type: Enterprise SaaS, Operational Data Storage & Others
By Application Type: Customer Analytics, Predictive Analytics, Data Modernization, Business Intelligence & Others
By End-User Type: BFSI, IT and Telecom, Media and Entertainment, Medical Sectors, Energy and Utilities, Retail and Cons
North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
|Companies covered||1010Data (U.S), Alphabet Inc (U.S), Amazon (U.S), IBM (U.S), Micro Focus (U.K), Microsoft (U.S), Netavis (Austria), Oracle Corp (U.S), Pivotal (U.S), Single Store (U.S), SnowFlake (U.S), SAP (Germany), Teradata (U.S), Transwarp (China), Veeva Systems (U.S), Yellowbrick (U.S).|
The Global Cloud Data Warehouse Market Has Been Segmented Into:
The Global Cloud Data Warehouse Market – by Data Type:
The Global Cloud Data Warehouse Market – by Application Type:
The Global Cloud Data Warehouse Market – by End-User Type:
The Global Cloud Data Warehouse Market – by Regions:
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