At present the business sector is undergoing a period of massive change and is ready to accept any new means of data storage. Owing to this fact, one can confidently say that the global enterprise data warehouse market will experience tremendous growth in the coming years. During the forecast period of 2018-2022, the market is expected to earn a revenue of around USD 64 million. Whereas, in terms of CAGR, the market is estimated to move forward at the rate of 9.7%.
There are many factors that work in the favor of this market and these growth drivers can be held responsible for this industry. The recent upsurge in the big data trend is acting as one of the major growth boosters for this market. The hike in the need for high speed analytics and low latency are further carving a path of success for the market.
Additional factors that further drive the growth of the market can be listed as shortage of time to create in-house software and shortage of monetary resources in the IT industry. Enterprise data warehouse offers cost benefits that are concerned with on-demand software subscription.
However, the market may face minor restraints like inconvenience in improving and managing data quality may stand in way of success. However, experts believe that with time the market will overcome such shortcomings.
Enterprises have enormous volume of data and lack effective tools to analyze the threats that render fraudulent activities unnoticed, particularly in the supply chain phase. The identification of fraud and the control of risks are among the major problems facing vertical industry. Large companies have implemented several techniques to avoid risks to business records. The vital and organized records of organizations are housed in the organisation’s data warehouse. Therefore, implementing a cost-effective, cloud-based solution is likely to boost the fraud detection market in the enterprise data warehouse industry. Enterprises have started to embrace cloud-based delivery strategies to protect their business records. Private clouds provide flexibility along with expanded control rates over corporate data and applications. In the digital age of today, the amount of data increases exponentially in an organization. Decreasing processing power and online storage costs and rising business applications implementation are key factors that promote this development. Rising in the big data trend of the company leads to increased analytics demand which is expected to boost market growth. It is anticipated that increased demand for high-speed analytics and low latency along with a increasing role of business intelligence in business management would drive market demand.
The worldwide enterprise data warehouse market has been divided into four equal parts. They can be listed as data, deployment, product and geographies.
On the basis of data, the market has been separated into documents, financials, patient’s records, and billings.
When it comes to deployment, the industry has been bifurcated into server and web based.
On account of products, the market is further separate into analytical processing, information processing and data mining.
Lastly, geographically, the market has its reach across several areas of the world like North America, Europe, Asia Pacific and Rest of the World.
North America is the dominant region in terms of market share and is closely followed by Europe which displays a comparable growth pattern. These regions have high awareness regarding the importance and advantages of data management. Moreover, stringent enforcement of data governance and the use of data management to improve operations & business efficiency are expected to keep these regions in their respected positions.
Meanwhile, the Asia Pacific displays high promise as an emerging region. There is a high volume of data being generated on a daily basis. The recognition of this and increasing awareness are likely to offer the lucrative market opportunities.
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The main players in the world market as defined by MRFR are ABB ltd (Switzerland), Accenture PLC (Ireland), Informatica (US), SAS Institute, Inc.(U.S.), Teradata Corporation (U.S.), Symantec Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Intel Security (U.S.), SAP SE (Germany).
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