Global Cloud Data Warehouse Market Size Forecast 2024 - 2033
23 Dec, 2024
How Is The Global Cloud Data Warehouse Market Defined?
A cloud data warehouse refers to a database stored in a public cloud that is optimized for scalable business intelligence (BI) and analytics. This is a centralized repository that stores and manages large volumes of structured and unstructured data in a cloud environment, enabling scalable analytics and data processing capabilities for businesses, data stores for efficient analytics, separation of storage and computing, data integration and management tools, scalable storage options, and enhanced security.
Cloud Data Warehouse Global Market Report 2024 provides data on the global cloud data warehouse market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cloud data warehouse market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Cloud Data Warehouse Market Size And Growth Rates Projected To Evolve?
The cloud data warehouse market has witnessed exponential growth, expanding from $7.3 billion in 2023 to $9.18 billion in 2024 at a CAGR of 25.6%. Historical drivers include rising data volumes, increased workload patterns, infrastructure optimization, and demand for higher data ingestion rates. The market is expected to grow to $22.96 billion by 2028 at a CAGR of 25.8%, driven by emerging data types, query complexity, rapid cloud service adoption, and expanding business projections. Key trends include hybrid cloud architectures, blockchain integration, data mesh frameworks, edge-to-cloud processing, and the potential impact of quantum computing.
What Are The Essential Drivers Behind The Growth Of The Cloud Data Warehouse Market?
The increasing number of IoT-connected devices is expected to propel the growth of the cloud data warehouse market. IoT-connected devices are physical objects with sensors and connectivity features that enable data exchange over the internet. The growth of IoT devices is driven by the need for efficiency, automation, and improved decision-making across various industries. Cloud data warehouses provide the scalability and flexibility needed to manage the vast amounts of data generated by IoT devices. For instance, in May 2023, IOT Analytics reported that the global number of IoT-connected devices reached 16.7 billion, reflecting an 18% increase from 2022. This increase in IoT-connected devices is fueling the growth of the cloud data warehouse market.
Get Your Free Sample of the Global Cloud Data Warehouse Market ReportHow Is The Global Cloud Data Warehouse Market Divided Into Key Segments?
The cloud data warehouse market covered in this report is segmented –
1) By Type: Enterprise DWaaS, Operational data storage
2) By Deployment Model: Public cloud, Private Cloud
3) By organization size: Large Enterprises, Small and Medium-sized Enterprises
4) By Application: Business Intelligence, Customer Analytics, Data Modernization, Operational Analytics, Predictive Analytics
5) By Vertical: Energy and utilities, Government and public sector, Healthcare and life sciences, IT and ITeS, Manufacturing, Media and Entertainment, Retail and consumer goods, Telecommunications, Other Verticals
What Trends Are Reshaping The Future Of The Cloud Data Warehouse Market?
Major companies in the cloud data warehouse market are focusing on developing next-generation data warehouses to maintain a competitive edge. These advanced platforms integrate appliances, open-source technologies, and cloud computing to efficiently manage and analyze data. For example, in March 2023, SAP SE, a software technology company based in Germany, launched Datasphere, a platform offering unified data integration, warehousing, semantic modeling, cataloging, and virtualization capabilities. Datasphere also includes advanced security, encryption, and governance features, enabling businesses to manage complex data sets with accuracy and completeness.
What Is The Fastest Growing Region In The Cloud Data Warehouse Market?
Asia-Pacific was the largest region in the cloud data warehouse market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud data warehouse market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.