Market for data warehouses expected to double over next five years
For many organizations, data warehouses are among the most valuable IT assets in the quest to gain more insights from data, better serve customers and grow the business. It should come as no surprise then, that demand for these platforms is expected to grow for years.
A report earlier this year from Allied Market Research, a market research and advisory company, predicts that the global data warehousing market will expand from $18.61 billion in 2017 to $34.69 billion by 2025.
A need for dedicated storage systems for growing volumes of data, an increase in demand for column-oriented data warehouse systems to perform advanced analytics, and the growing need for low-latency, real-time analytics on operational data are all driving demand.
Also contributing to growth of the market are the emerging trend of adopting virtual data warehousing and increased use of artificial intelligence (AI) in the data warehouse, the report said.
Among the key players in the global data warehousing market are Actian Corp, Amazon, Cloudera, Google, IBM, Microsoft, Oracle, SAP, Snowflake and Teradata.
Looking ahead, demand for data warehousing will be fueled by the growth of the Internet of Things (IoT), with data generating from connected sources such as sensors, mobile devices, products, and operational systems.