Cloud data warehouse market to record a CAGR of 22.56%

The potential growth difference for the cloud data warehouse market size between 2021 and 2026 is USD 10.42 billion. To get the exact CAGR and the Y-O-Y growth rate, according to Technavio.

Market Segmentation
By organization, the large enterprises segment will be the largest contributor to market growth during the forecast period. Various industries are early adopters of advanced technologies. The high volume of data generated necessitates the use of cloud data warehouse solutions. Enterprises are looking are ways to optimize the data generated into profitable situations.

By geography, North America will be the leading region with 48% of the market’s growth during the forecast period. The US is a key country for the cloud data warehouse market in North America.

Key Market Dynamics

• Market Driver: The growing penetration of IoT-enabled devices is driving the growth of the market. This has resulted in the generation of large amounts of data. These factors have increased the need for effective data storage and data analytics. Hence, enterprises are investing in storage systems and big data analytics to manage and analyze the data effectively. Cloud data centers need to be upgraded constantly to cater to big data storage and processing needs. The data is suitable for large enterprises, such as small and medium-sized enterprises (SMEs) and e-commerce solution providers, primarily for business growth. In addition, during the forecast period, edge computing facilities are expected to emerge, with a high possibility of adopting cloud storage infrastructure. All these factors are expected to increase the demand for cloud data warehouses.
• Market Challenges: The rising cybersecurity threats will challenge the cloud data warehouse market during the forecast period. Enterprises are concerned about the security of sensitive information, such as customers’ personal details, financial information, and organizations’ intellectual property. Furthermore, there are new data protection regulations to protect sensitive data. In addition, ransomware attacks have increased significantly in the past few years. Before deploying storage systems to prevent such attacks, enterprises need to have security features, such as regulatory compliance; data encryption at rest, motion, and use; multi-factor authentication; and securing personally identifiable information (PII). All these factors have raised the need for effective data security software and solutions, which has further increased the cost and overall operational costs for enterprises.

CT Bureau