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.
Data Warehouse Statistics (Editor’s Choice)
- Bad data quality costs the US economy around $3.1 trillion per year. (Findstack)
- The data warehousing market size will grow to $7.69 billion by 2028. (GlobeNewswire)
- Only 18% of companies have all data warehouses on-premise. (G2)
- More than 463 exabytes of data will be made every day by 2025 (Findstack)
- Up to 2.5 quintillion bytes of data are created every day. (Findstack)
- 79% of companies believe that not using big data will bankrupt them. (Accenture)
Data Warehouse Statistics
1. Data warehouse as a service is projected to reach $7.69 billion by 2028.
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.
(GlobeNewswire)
2. At 19.5%, Snowflake holds the biggest data warehousing market share.
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.
(Datanyze)
3. Data warehouse statistics show that 52% of IT managers and executives point to faster analytics processing as the most important for data warehousing.
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.
(G2)
4. The global cloud data warehouse market is expected to reach $10.42 billion by 2026.
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.
(PRNewswire)
5. Poor data quality is estimated to cost the US economy $3.1 trillion every year.
Another report meanwhile suggests that a single business loses $12.9 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.
(Findstack)
6. 35% of IT managers have a mix of on-premise and public cloud data warehouses.
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.
(G2)
7. The computer software industry is the biggest data warehouse user, with 17%.
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.
(Enlyft)
8. Around 2.5 quintillion bytes of data are created daily.
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.
(Findstack)
9. Up to 79% of companies fear not using big data will help bankrupt them.
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.
(Accenture)
In Conclusion
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.
Sources: GlobeNewswire, Datanyze, G2, PRNewswire, Findstack, Enlyft, Accenture
