The global data warehousing market is poised for a quantum shift owing to the factors such as ongoing demand for next-generation business intelligence along with the increasing amount of data generated by organizations, which is projected to accentuate data warehousing market growth over the forecast period. The data warehousing allows users to access a vast range of information. The data is organized in an effective and relevant manner, which is projected to boom market growth over the next six years. It significantly reduces the cost of computing along with combining data in one location which is further projected to positively elevate market growth.
Organizations are operating in a competitive business environment and are facing dynamic changes in consumer demands. The companies want to understand the current information related to business process, products, customers and services along with the historical data about the previous pattern, performances and trends These data allows them to formulate strategies along with unfolding new business opportunities. This technology serves a varied range of business-critical functions, supports new data types along with providing actionable insights to the enterprise which is expected to trigger the data warehousing market growth.
The rise in the big data trend in the organization is leading to the growing demand for analytics, which is projected to augment market growth. Increasing demand for high-speed analytics and low latency along with the growing role of business intelligence in enterprise management is expected to drive the market demand. The evolving warehousing centers are anticipated to introduce a new scope for flexibility along with adding the latest information and sources addressing the challenges such as complexity, variety, volume, and velocity.
Technological advances are expected to play a crucial role in addressing real-time data warehousing and extreme data needs that require advanced change detection capability. The evolution of programming techniques such as MapReduce and Hadoop coupled with advancements in the storages, memory, and core technology is projected to offer lucrative growth opportunities for market growth by 2022. Hadoop with its Distributed File System (HDFS) processes very large data sets making it a great companion to standard data warehouses which are anticipated to augment its market demand over the next six years.
An increasing number of mobile users, networked sensors along social media traffic is generating a growing stream of data that requires additional capabilities, which is expected to further drive the market growth. The adoption of consumerization trends including the usage of mobile devices and social networking at workplaces is leading to an exponential rise in the volume of the information under corporate control. Thus an effective way to store, analyze, and manage data is required to stay competitive amongst the market which is further anticipated to amplify data warehousing market growth. Insufficient time to build in-house software, budget constraints for IT along with cost advantages relating to on-demand software subscription is expected to drive the market growth.
However, difficulty in improving and managing data quality can act as a major challenge for market growth. The market can be segmented on the basis of software into DW DBMS. The DMBS serves the critical role of architectural design, execution platform, and repository in the data warehousing system. It is a broader analytics structure that supports corporate performance management, operational analytics along with the semantic platform, and cluster management. The hardware segment includes DW appliances whereas the services segment includes DW in the cloud services. Cloud-based data warehousing serves as an infrastructural design with a higher potential than various traditional deployment methods.
North America is projected to be the dominant region for the market owing to the availability of technologically advanced infrastructure. The Asia Pacific and Europe are expected to be emerging regions for the market. Key players in the data warehousing market include IBM Corp, Microsoft Corp, Infobright Inc, SAP AG, ParAccel Inc, Actian Corp, EMC Corp, Calpont Corp, HP Co, Teradata Corp., and Oracle Corp. Leading vendors are placing significant and appropriate emphasis on the formalization of professional services to support data warehouse delivery.
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In contrast to its related industries like consumer electronics and semiconductors, the data center and communications infrastructure industry is expected to be more buoyant with continued strategic investments made to support the increased network traffic and data usage for remote working during the lockdown phase. From school closures necessitating students to use virtual offerings (Google Classroom ) to the governments using business analytics services (Power BI) for communicating virus updates, the demand for communication services and related infrastructure has witnessed an unprecedented rise amidst the global pandemic. Digital services including telemedicine are expected to remain popular even after the pandemic is contained, thereby ensuring strong growth in the communication infrastructure industry. The report will account for Covid19 as a key market contributor.