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Cloud Data Warehouse Market Trends

Report ID: GMI8722
Published Date: Mar 2024
Report Format: PDF

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Cloud Data Warehouse Market Trends

The rise of big data and IoT has fostered growth in the cloud data warehouse industry. Both big data and IoT contribute to a huge rise in the amount of data that businesses must store and manage. Big data refers to large datasets from a variety of sources, including social media, sensor data, and customer transactions. Similarly, IoT devices produce a steady stream of data, which may range from machine measurements in factories to data collected from wearables.

Traditional data warehouses frequently fail to accommodate the increasing number and variety of data. Additionally, cloud data warehouses are naturally scalable, allowing enterprises to simply modify storage space and processing power based on requirements.

For instance, in July 2023, IBM launched its next generation of Db2 Warehouse. Through this development, the company introduced cloud-native support for Db2 column-organized tables residing in cloud object storage. This advancement enhances query performance, reduces storage costs, and provides a cost-effective solution for always-on, mission-critical workloads. The integration of advanced caching techniques and compatibility with cloud object storage enables faster analytics, improved scalability, and enhanced data governance within the Db2 Warehouse platform.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of cloud data warehouse reached USD 6.1 billion in 2023 and is poised to witness over 22.5% CAGR between 2024 and 2032, due to the increasing importance of business intelligence and analytics worldwide.

The large enterprise organization size segment is projected to record 65% of the market share by 2032, as they provide the scale and flexibility required for storing and managing large datasets efficiently.

The healthcare industry vertical segment recorded 19% of the market share in 2023, led by the proliferation of medical devices that generate patient data, the emergence of genomics and customized treatment, and the rising usage of wearables and telemedicine.

North America held over 36% of the market share in 2023, due to the presence of prominent cloud service providers, such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP).