The global active data warehousing market was valued at USD 6.3 billion in 2019 and is expected to reach a value of USD 11.95 billion by 2025, at a CAGR of 11.17% over the forecast period. In recent years, due to rising concerns on data manageability and increasing complexity, data warehousing has attracted significant interest in real-life applications, especially in finance, business, healthcare, and other industries.
The increased need for quick business decisions and growing competition have augmented the importance of business intelligence and real-time data analytics dramatically, which are dependent on real-time date warehousing solutions.
The increasing dependency on big data analytics and business intelligence solutions has predominantly increased the need for more sophisticated data warehousing developers and administrators.
Scope of the Report
Active data warehouse is a repository of any form of captured transactional data so that they can be used for the purpose of finding trends and patterns to be used for future decision making. An active data warehouse has a feature that can integrate data changes while maintaining batch or scheduled cycle refreshes.
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Key Market Trends
Hybrid Deployment Expected to Witness Rapid Growth
Although most companies benefit significantly by deploying a cloud-based data warehouse as it is cost-effective, quick to set up, and instantly scalable, companies that require total control, flexibility, accessibility, and predictability might find that an on-premise solution is a better fit for their needs.
If organizations are unsure of choosing the best model fit for their needs, they opt for a hybrid approach, storing their data in an on-premise data center and using the cloud for data processing and analytics. Alternatively, they can store the data in a cloud data warehouse and perform analytics on-premise as well.
The suitable solution for this would be to implement a hybrid approach, where the internal systems can be protected by secret server on-premise and cloud services can be protected on the secret server cloud.
Another compelling reason behind adopting the hybrid model is that investment organizations have already settled into on-premise hardware and software. Software and hardware infrastructure is expensive, and organizations may be unwilling to abandon those capital expenditures, just to move to the cloud. Rather than migrating to the cloud infrastructure entirely, the best possible alternative will be to inherit the hybrid model and make the maximum use of both models.
Canada Anticipated to Witness Rapid Adoption
With the United States being its closest neighbor and the most significant market for cloud computing, Canada has had a considerable advantage in advanced technology transfer. Barring specific data transfer and privacy issues, the cloud computing market in Canada projects a bright picture. Canada has been at the forefront of implementing innovative technologies related to the IT industry, which is one of the fastest growing sectors of the country’s economy.
The market environment for cloud computing continues to develop, as the availability and usage of cloud-based solutions become more prevalent. Almost all enterprises are looking for a solution to reduce the time taken to search for data and improve the efficiency of the employees and organizations. This has increased the utilization of data warehousing solutions, thereby increasing the efficiency of business processes.
Growth is mainly because various SMEs are increasing their investments in IT products and services. Government agencies are also increasing their spending on cloud-based services, as a part of cost-cutting initiatives.
Cloud-based data warehousing acts as an infrastructure design with a higher potential than traditional data warehouse deployment methods. Thus, organizations can use their private cloud for supporting their data warehouse and analytics. Budget constraints for IT, insufficient time to build in-house software, and cost advantages attached to hosted or on-demand software subscriptions are the primary factors responsible for the increased adoption of cloud-based data warehousing solutions by enterprises.
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