According to the latest report by IMARC Group, titled “Data Warehousing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global data warehousing market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 11% during 2021-2026.
Data warehousing refers to storing, analyzing and reporting structured, semi-structured and unstructured data on an electronic platform. It also records historical and current data in a centralized repository for providing business intelligence (BI) and long-term insights. Data warehousing consists of load, warehouse and query managers deployed on-premises, cloud or hybrid environments to extract and analyze data.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The global data warehousing market is primarily driven by a significant rise in the amount of data generated by organizations. Data warehousing ensures consistency, creation of indexes, aggregates and transformation and merging of source data. Besides this, improvements in the information technology (IT) infrastructure and the emerging trend of virtual data warehousing are also contributing to the market growth. Furthermore, the rapid integration of data warehouses with artificial intelligence (AI) and machine learning (ML) solutions automatically transforms and optimizes data according to user requirements. These factors are expected to provide a positive thrust to the market in the coming years.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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