Data Warehousing Market Size, Industry Trends Report | 2031

Report Description

The global data warehousing market size was valued at USD 5.75 Billion in 2022 and is anticipated to reach USD 35.20 Billion by 2031, expanding at a CAGR of 22.3% during the forecast period, 2023 – 2031. Data warehousing refers to the method of electronically analyzing, storing and reporting organized, semi-structured, and unstructured data for extracting insightful information. It involves the collection of information from various sources such as mobile data, social media, and corporate applications, which are used to provide useful analytical reports and business insights.

In the data warehouse, heterogeneous data from diverse sources is first cleansed and then arranged into a consolidated structure. To support operational decisions, businesses employ data warehousing technologies and Database Management Systems (DBMS) to access data stored on warehouse servers. They can be installed on-premises, in the cloud, or in hybrid settings.

Get Free Sample Report

Data Warehousing Market Trends, Drivers, Restraints, and Opportunities

• Rising usage of historical data for improving customer experience is one of the primary factors propelling the expansion of the market.
• Growing demand for data warehouses for diverse data storage among various business organizations is expected to drive market expansion.
• Increasing demand for data mining for BI and data analytics to enhance efficiency of business operations is a major driver fueling the market.
• Rising usage of cloud computing platforms and other advanced technology for data warehouses is anticipated to drive the market growth further.
• High deployment costs and IT complexity, the risk of data breaches and cyber assaults, as well as inefficient architecture and data rigidity are major challenges that can hamper market expansion in the coming years.
• Rising trend of embracing virtual data warehousing as well as the spike in the application of Artificial Intelligence (AI) in data warehousing are projected to present several growth opportunities for the market.

Scope of Data Warehousing Market Report

The report on the global data warehousing market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Data Warehousing Market Segment Insights

The unstructured segment is projected to hold a significant market share

Based on data types, the data warehousing market is bifurcated into unstructured and semi-structured & structured. The unstructured segment is projected to hold a significant market share during the projected period. The market for unstructured data warehousing comprises of data that is not associated with a recognizable model and is widely applied by organizations for advanced analytical purposes.

The data is not pre-organized in any way and typically includes text-rich information such as addresses and names. The presence of critical underlying information is a primary driving force behind the rising popularity of unstructured data warehousing. The unstructured data segment, however, is expected to grow rapidly over the forecast period owing to the rapid implementation of adaptable cloud data warehouses with unstructured data ingestion.

Get Free Sample Report

Cloud segment is anticipated to account for substantial share

On the basis of deployment models, the market is segmented into cloud-based, hybrid, and on-premise. The cloud-based segment is anticipated to account for substantial share of the market. When processing storage and power have unequal scalability, storing data on-premises might become prohibitively expensive. Cloud warehouses can rapidly grow to meet as many or as few computing needs as needed, making them extremely cost-effective.

Cloud data warehousing is growing in popularity among businesses because it offers several advantages such as on-demand processing, varied data type support, flexible pricing models, and unlimited storage. Owing to the low infrastructure needs and inexpensive prices, SMEs are quickly adopting the cloud deployment approach. Government measures to promote cloud computing and big data analytics are also major development drivers for the market.

Data mining tools segment to expand at healthy growth rate

In terms of offerings, the data warehousing market is fragmented into data mining tools, extract, transform & load solutions, statistical analysis, and others. The data mining tools segment is expected to expand at healthy growth rate in the coming years. The segment growth is attributed to increased demand for data mining solutions among firms for searching distinct patterns of data in order to increase the organization's profit and sales.

Data mining technologies aid in the automated processing and analysis of vast amounts of data in order to identify trends, patterns, or correlations with significant business value. Enterprises use such technologies to forecast future outcomes, allowing them to identify new opportunities such as product development and revenue growth.

Data mining is increasingly being used for consumer profiling, fraud detection, website optimization, and determining potential market segments. A wide range of data warehousing technologies including as RStudio, Azure ML Studio, SAS, and Python, are available at reasonable prices, allowing businesses to capitalize on improved data insights and increase business efficiency.

Large enterprises segment to grow at robust pace

Based on organization sizes, the market is bifurcated into SMEs and large enterprises. The large enterprises segment is anticipated to grow at robust pace during the forecast period. Large corporations are among major consumers to implement data warehousing technologies. Large organizations’ market growth has been supported by dedicated IT professionals, in-house data centers, and the availability of financial resources for infrastructure expansion.

They implement modern corporate solutions such as Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and generating massive amounts of valuable data that may be used to gain a competitive advantage. With the introduction of hybrid warehousing models, major companies can exert leverage the scalability and flexibility of cloud warehouses while still maintaining on-premise data storage.

BFSI segment is estimated to hold considerable market share

On the basis of applications, the data warehousing market is segregated into BFSI, government, healthcare, IT & telecom, manufacturing, retail, and others. The BFSI segment is estimated to hold considerable market share in the coming years. The growing usage of data mining and big data analytics by BFSI organizations present key opportunities for expanding the acceptance of data warehousing solutions.

The sector witnesses applications of several innovative technologies to reduce financial losses due to fraud and hostile cyber-attacks. This has resulted in a surge in the use of big data analytics by financial organizations. These institutions are progressively deploying solutions for detecting bogus insurance claims, predictive fraud analytics, assuring government compliance, and monitoring credit risk, which is boosting demand for data warehousing.

The introduction of the Internet of Things in the financial services industry, with connected equipment such as mobile banking, ATMs, and smart credit cards, has raised a demand for Big Data analytics and data storage.

Get Free Sample Report

Regional Analysis

In terms of regions, the market is classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projected period. Asia Pacific-based businesses are developing a variety of data centers to provide cloud data warehousing platforms and big data solutions.

The services are also cost-effective for SMEs due to the lack of upfront infrastructure investments and the low price of installation. Moreover, increasing number of data centres, the rapid expansion of IT infrastructure, and the widespread usage of cloud technologies are major factors that further drive the regional market growth.

Get Free Sample Report