Our world revolves around data, but storing and using it is not all that straightforward. This is where data warehouses come in — they provide a central repository for all the data used by the organization. Does yours need to invest in this technology as well? These timely data warehouse statistics will help you find out, keeping you up-to-date with the latest trends in this exciting field.
This implies a projected compound annual growth rate of 24.5% in the data warehousing market size. This increase will be enabled partly by growing investments in technologies such as machine learning, and artificial intelligence which is slated for massive growth by the end of the decade.
The data warehousing industry boasts 36,211 companies, focused on 64 technologies in total. Snowflake leads the pack with 3,174 domains, followed by SAP Business Warehouse with 1,866 domains and an 11.94% market share.
The survey, which looked at the leading trends in data warehouse further showed that for 48% of respondents, real-time analytics was a key trend, while 28% of respondents pointed to edge analytics. 45% of respondents also named data quality as a key trend.
This implies a compound annual growth rate of 22.56% by 2026, and it will almost triple the 2021 market size of $4.7 billion. In 2022, the growth is estimated at 20.62%, data warehouse statistics suggest. The report Technavio, however, cautions that the rising cybersecurity threats which endanger sensitive information will pose a challenge to growth during the projected period.
Another report meanwhile suggests that a single business loses $9.7-$14.2 million a year due to bad data. Low data quality results in mistakes, damaging customer relationships, and company reputation, ultimately leading to lower revenue and profits.
Data warehouse statistics further show that for 53% of IT managers and executives, hybrid or multi-cloud data warehouses are becoming more important. Just 18% of respondents keep all of their data warehouses on-premise.
The next biggest industry data warehouse Oracle user is IT and services with 10%, followed by financial services and hospital and healthcare services with 5% each. Countrywise, the US leads the pack with 2,458 companies using Oracle data warehousing, followed by the UK with 250 and Canada with 150, according to data warehouse statistics.
Big data is a term used to describe very large data sets that are collected from different sources. These data sets can’t be processed by hand, so many databases and tools such as data warehouse software have been developed to help process and store them. Projections show that by 2025, over 463 exabytes of data will be made every day.
Most users (85% of companies, to be precise) further believe that big data will revolutionize the way they do business. Then, 83% have pursued a big data project to have a leg up on rivals. Naturally, some businesses turn to specialized big data companies to make sure they keep their competitive edge.
These data warehouse statistics are only a snapshot of the market and the global data warehouse landscape. One thing is certain, though — as the world continues to evolve, so will data, and current trends suggest that it will only get bigger. So as you decide what technologies to bet on as you develop your business, keep in mind that knowledge is power, and so is data.