Data Warehouse as a Service Market Size

Data Warehouse as a Service Market Analysis

The Data Warehouse as a Service Market size is estimated at USD 4.97 billion in 2024, and is expected to reach USD 13.77 billion by 2029, growing at a CAGR of 22.60% during the forecast period (2024-2029).

The growing interest of companies to understand the available information regarding business processes, products, customers, and services to grab new business opportunities is positively impacting the market.

• Due to rising concerns about data manageability and increasing complexity in recent years, data warehousing has attracted significant interest in real-life applications, especially in finance, business, healthcare, and other industries.
• The market demand is anticipated to be driven by the rising demand for low latency and high-speed analytics and the expanding importance of business intelligence in enterprise management throughout the company ecosystem. However, expanding the market under study may need to be improved due to the growing complexity of controlling and enhancing data quality.
• Further, the demand for data warehouse services, especially across the cloud-based deployment, is expected to rise, owing to tremendous growth in the volume of the structured and unstructured data generated across multiple end-user industries, such as BFSI, retail and e-commerce, government, and public sector, and manufacturing industries. For instance, Tencent Holdings planned to open a third data center in Japan, where its cloud services for online games and live streaming systems are in robust demand.
• Also, the growing adoption of the data warehouse to perform advanced analytics, rapid growth in data volumes, and an increase in regulatory compliance, along with the rise of multi-cloud architecture, creates ample opportunities for adopting cloud-based data warehouse solutions.
• Enterprises are using reports, dashboards, and analytics tools to extract insights from the datasets, thereby monitoring the business performance that supports decision-making. These reports, dashboards, and analytics tools are a part of the data warehouse, which stores data efficiently and delivers query results at high speeds across multiple users simultaneously, thereby driving the adoption of the data warehouse as a service across emerging economies.
• The COVID-19 outbreak and the lockdown restriction imposed across the globe have affected capital investments and industrial activities across the world. Following the global economic recession led by COVID-19, data warehouse as a service market has seen growth due to accelerated digital transformation in the first half of the pandemic. Most enterprises operating in the end-user industries (majorly manufacturing and automotive) had shut down their production sites due to lockdown restrictions.