Data Warehouse Service Market Competitive panorama - Data Warehouse Service Market Competitive Outlook and Qualitative Analysis for 2028: Data storage is gaining momentum as it offers a wide range of advantages that unmatched computing resources and on-site storage. As businesses become highly data-driven, organizational leaders as well as senior executives require in-depth analysis related to different aspects of the business. With the speed of business today, employees cannot sit back and wait for an IT technician to provide data from the data warehouse so that they can begin with their analysis.
With data storage as a service, companies do not have to worry about setting up and managing data storage as the service provider is in charge of all administration and administration. Businesses are increasingly adopting data storage as a service, as it frees them from the burden of updating software. In addition, they can access data storage as a service anywhere if they have access to the Internet connection, which in turn is adding to the data storage market as a service.
As data storage as a service performs data administration and administration, companies do not have to worry about data storage staff, which in turn makes data storage as a service an option best for businesses with small or limited IT departments.
Data Warehouse Service Market Competitive panorama
Data warehouse as a service market: Notable events
Some of the leading players in the data storage service market are IBM, Veeva, Netavis AWS, LUX Fund Technology & Solutions, Google, Accur8 Software, Microsoft, Transwarp Technology, Snowflake, pivotal Software, Teradata, AtScale, SAP, Cloudera, Veeva, Micro Focus, Hortonworks, Actian, Yellowbrick, Panoply, MarkLogic, MemSQL, Transwarp Technology, Solver and 1010data.
- In December 2018, a leading player in the data storage service, Snowflake announced the public availability of Microsoft Azure at EMEA. Snowflake uses Azure infrastructure services for data storage and query processing. The company has added a number of cutting-edge features, such as gentle storage removal, accelerated networks, and more.
- In September 2018, another data warehouse as an Accu8 Software service market player introduced their Data Migration as a Service (DMaaS) for the IBMi Series AS / 400. IBMi works with IBM PureSystems and IBM Power Systems to SMEs in migrating data from their existing IBMi environment to the cloud platform, such as Microsoft Azure or Amazon AWS.
Data Warehouse as a service market: market dynamics
Increased adoption of the private cloud that creates growth opportunities
Several companies have opted for cloud data storage solutions to gather structured data from legacy on-premises data stores. With cloud solutions, businesses are gaining insights they had previously lacked, so a number of companies have begun implementing cloud-based solutions to maintain their business data. This can also be attributed to the unique features of private clouds as they provide simplicity along with immense control over enterprise applications and data. In addition, a private cloud provides companies with a comprehensive view of the supply chain, helping them gain valuable insights to better manage their value chain in order to understand and forecast demand, regulate supply, and track real-time inventory. The growing adoption of private cloud by businesses is likely to support gains in the data storage market as a service.
Growing data privacy and security requirements to drive Data Warehouse adoption as a service
With cloud-based data storage enabling businesses to gain an inclusive view of their customer and data transactions, they can quickly and easily classify and evaluate data to drive customer engagement initiatives. In addition, in the case of data storage as a service, the data is stored in a single repository that allows companies to guarantee the security and privacy of their customers, as well as transactional data. As data storage as a service alleviates the risks associated with non-compliance with various industry regulations and requirements, data storage as a service market is likely to witness gains in the coming years.
Increasing adoption of advanced technology solutions in BFSI
Banking, financial services and insurance (BFSI) are still very lucrative for the growth of data storage as a service market as it deals with the massive data of regularly generated customers. BFSI has been observing a high adoption of state-of-the-art technology solutions for managing and evaluating this data, thus driving the adoption of high-tech solutions required to meet increasingly stringent requirements and regulations. With the advancement of cloud-based solutions, such as data storage as a service, BFSI companies are efficiently managing their dispersed data across multiple regions and departments.