MarketsandMarkets estimates the global Data Warehouse as a Service Market to grow from USD 1.2 billion in 2018 to USD 3.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.8% during the forecast period. The key factors driving the data warehouse as a service market include rising adoption of private cloud coupled with increasing use of column-oriented data warehouse to perform advanced analytics.
BFSI to account for the largest market size in 2018
BFSI has been a dominant industry across all regions, dealing with massive volumes of customer data generated on a daily basis. The industry has observed high adoption of advanced technology solutions to manage and analyze this data. Further, the industry drives the adoption of advanced solutions required to cater to the regulatory and compliance requirements in the industry. With advanced cloud-based solutions available in the market, organizations in the BFSI industry are efficiently managing their data spread across various departments and regions. Further, cloud-based data warehouses present a viable alternative to prevalent on-premises legacy data warehouses in the industry, enabling organizations to leverage cloud to lower their operational costs.
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The increasing data privacy and security requirements to drive the adoption of data warehouse services in SMEs and large enterprises
Cloud-based data warehouse enables organizations to get a comprehensive view of their customer transactions and data, enabling various teams across the organization to quickly assort information and analyze it to drive customer engagement initiatives. With data stored in a single repository, organizations can easily ensure the privacy and security of their customer and transactional data, reducing the risks associated with failure to comply with various industry regulations and compliance requirements.
The major vendors offering data warehouse as a service globally include IBM (US), AWS (US), Google (US), Microsoft (US), Snowflake (US), Teradata (US), SAP (Germany), Micro Focus (United Kingdom), Hortonworks (US), Cloudera (US), Actian (US), 1010data (US), Pivotal Software (US), Solver (US), Yellowbrick (US), Panoply (US), MarkLogic (US), MemSQL (US), Netavis (Austria), LUX Fund Technology & Solutions (US), Transwarp Technology (China), Accur8 Software (US), Atscale (US), and Veeva (US). The study includes an in-depth competitive analysis of the key players in the data warehouse as a service market, along with their company profiles, recent developments, and key market strategies. The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and upgradations; and partnerships, agreements, and collaborations, have been the most dominating strategies adopted by the major players, which helped them innovate their offerings and expand their audience.
Microsoft is one of the major providers of data warehouse as a service over its Microsoft Azure Cloud. The company provides its offerings to a diverse customer base that includes both large and small and medium-sized enterprises. Moreover, it majorly and equally adopts both organic and inorganic growth strategies to sustain its leading position in the competitive market. It also invests heavily in R&D activities to strengthen its capabilities and competencies in its core business. Microsoft has invested heavily in the development of data centers for a public cloud infrastructure, known as Microsoft Azure, which is ideally suited to serve the needs of the scientific community. Microsoft Azure provides a variety of cloud services enabling users to select the right combination to meet their needs, from setting up a community website to document and discuss research findings to performing complex data analysis in a scalable environment. Microsoft Azure has already proven successful for a variety of research projects and future enhancements promise to support research in new and exciting ways, as cloud computing continues to evolve. In April 2018, it partnered with C3 IoT to deliver new technology developments and provide go-to-market strategies that accelerate enterprises AI and IoT application developments. Combining the market reach of Microsoft Azure and the capability of the C3 IoT AI platform, the company plans to accelerate the adoption of AI, IoT, and elastic cloud computing globally.
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Pivotal provides a wide category of products, which enables enterprises to replace traditional, expensive, rigid, on-premises data warehouses with cost-effective cloud database solutions. The company offers advanced products for data warehouse services. In addition, the company has adopted product upgradation and collaboration strategies to upgrade its product portfolio and expand and enhance its market reach. For instance, it recently introduced version 22.214.171.124 of its Pivotal Greenplum Database, which supports next-generation data warehousing and large-scale analytics processing. The strategies of product innovations, expansions, and business partnerships have enabled the company to expand its customer base in the cloud data warehouse market. In November 2018, the company collaborated with HCL Technologies to provide Pivotal Cloud Foundry (PCF), a cloud-native application platform that would help enterprises to accelerate business transformation. The collaboration would enable enterprises to modernize their development practices and securely operate important applications across multi-cloud environments.
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