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The Worldwide Data Warehouse as a Service Industry is Expected to Reach $12.9 Billion by 2026DUBLIN, Aug. 25, 2021 /PRNewswire/ -- The "Global Data Warehouse as a Service Market with COVID-19 Impact by Application (Customer Analytics, Business Intelligence, Operational Analytics, Predictive Analytics), Vertical, Deployment Model, Type(EDWaaS & ODS), & Organization Size - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering. The global Data Warehouse as a Service (DWaaS) market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period, to reach USD 12.9 billion by 2026 from USD 4.7 billion in 2021. Key factors that are expected to drive the growth of the market are the increasing role of business intelligence and data analytics in enterprise management, growing dependence on data-driven decision-making to improve business performance, and requirement of regulatory governance and security. The COVID-19 Impact on the global data warehouse as a service market The recent economic slowdown with the impact of COVID-19 emphasizes the need for alternate business systems. It has become important for businesses to embrace cloud computing and migrate to cloud data warehouses. This will help organizations to have a stable business condition in the short term while targeting continued growth and expansion in the long run. Organizations across different verticals are leveraging data warehouse services due to various advantages including higher availability, low latency, scalability, and enterprise-grade security. Operational data storage segment to grow at a higher CAGR during the forecast period Based on the type, the market is segmented into two categories: enterprise data warehouse as service and operational data storage. The market for operational data storage is expected to grow at a higher CAGR during the forecast period. The growth is mainly attributed to the increasing demand for real-time data analytics and reporting. The implementation of ODS in an enterprise complements the existing data infrastructure and supports the current and future needs of the enterprise. In addition, the growing use of AI in data warehouses is likely to provide future growth opportunities for the ODS segment. Companies operating in the DWaaS market provide advanced solutions to meet the rapid growth of data volumes and to adhere to regulatory compliance mandates. Public cloud segment to account for a higher market share during the forecast period The DWaaS market is segmented by deployment type into public and private cloud. The public cloud segment account for a higher share of the DWaaS market during the forecast period due to increasing investments in mobility, collaboration and other remote working technology and infrastructure. While the private cloud model is gaining popularity in organizations to overcome security and data privacy challenges. Healthcare and life sciences vertical to grow at a higher CAGR during the forecast period Healthcare and life sciences is one of the fastest-growing verticals as the industry is undergoing extensive development, with advancements in technologies, thereby enhancing the overall industry vertical. The quality of information and the interest toward quality medicinal administrations have turned out o be progressively imperative. Initially, owing to data complexities and a variety of medical cum clinical data, the adoption of DWaaS solutions in the healthcare sector was comparatively slow. However, over the past years, the increase in the usage of DWaaS solutions has proved to be handy in administrative and clinical areas. The vast amounts of data generated over the years have been used in a variety of areas, right from enhancing patient health to pharmaceuticals testing. North America to account for the highest market share during the forecast period The DWaaS market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. The DWaaS report provides insights into these regional markets in terms of market size, growth rates, future trends, market drivers, and COVID-19 impact. North America is expected to hold the highest market share in the overall DWaaS market during the forecast period. Following North America, Europe is expected to hold the second-highest market share during the forecast period. the growth is mainly attributed to the presence of various developed economies, such as the United States (US) and Canada, and due to the focus on innovations obtained from R&D and advanced technologies. The increased penetration of DWaaS solutions in multiple industry verticals, such as manufacturing, healthcare and pharmaceuticals, and the government and public sector, is driving the growth of this market in this region. PAC and MEA are also expected to witness high growth rates during the forecast period. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview and Industry Trends 6 Data Warehouse as a Service Market, by Application 7 Data Warehouse as a Service Market, by Type 8 Data Warehouse as a Service Market, by Deployment Model 9 Data Warehouse as a Service Market, by Organization Size 10 Data Warehouse as a Service Market, by Vertical 11 Data Warehouse as a Service Market, by Region 12 Competitive Landscape 13 Company Profiles 14 Adjacent Markets 15 Appendix For more information about this report visit https://www.researchandmarkets.com/r/cs9vc2 Media Contact: For E.S.T Office Hours Call +1-917-300-0470 U.S. Fax: 646-607-1904 View original content:https://www.prnewswire.com/news-releases/the-worldwide-data-warehouse-as-a-service-industry-is-expected-to-reach-12-9-billion-by-2026--301362771.html SOURCE Research and Markets |