The global enterprise data warehouse (EDW) market has been thoroughly researched by Market Research Future, and the findings have been published. The EDW market is anticipated to witness a CAGR over the forecast period of 2016 to 2027. Enterprise data warehouses are considered a crucial component of business intelligence, particularly with the growing adoption of rapidly advancing technology. Uses in the healthcare sector are significantly driving the global enterprise data warehouse market.
Management of data and drawing up records is an infinitely complex challenge which is consistently being improved upon. For the healthcare sector and others, data warehousing is a core component of data management, thus driving the market. Healthcare organizations are increasingly leveraging cloud services and other advancing IT technology to manage patient records and other activities such as billings better. Global growth of the healthcare sector as well as the rapidly expanding regional healthcare sector in emerging economies are expected to present the market with ample opportunity for growth over the forecast period. Enterprise data warehouse solutions offer high level of security and scalability which make them useful across a wide number of industry verticals. They offer a way to analyse previous data efficiently and assist businesses in enabling improvement of operations. These factors act as significant drivers of the enterprise data warehouse market.
Enterprise data warehouse market is also popular by other names like data warehouse or DWH. It is a system which forms an integral part of business intelligence. It is utilized for reporting and data analysis in any kind of set-up. In recent times, the demand for this system has up surged. As a result of which the global enterprise data warehouse is getting impetus.
An enterprise data warehouse can be described as a comprehensive database that consists all the business information that is required by an organization. It also makes that data visible to all the segments of the company. The major aim of this system is to unify all of the sensitive information in one single place & store it securely. Another major function is to separate the data in accordance to the subject and provide access in respect to that particular division.
Majority of the market players are investing in enterprise data warehouse market these days. It is because this system offers a robust infrastructure with a number of contingency plans that help the business in being continual and relevant.
At present the business sector is undergoing a period of massive change and is ready to accept any new means of data storage. Owing to this fact, one can confidently say that the global enterprise data warehouse market will experience tremendous growth in the coming years. During the forecast period of 2018-2022, the market is expected to earn a revenue of around USD 64 million. Whereas, in terms of CAGR, the market is estimated to move forward at the rate of 9.7%.
There are many factors that work in the favor of this market and these growth drivers can be held responsible for this industry. The recent upsurge in the big data trend is acting as one of the major growth boosters for this market. The hike in the need for high speed analytics and low latency are further carving a path of success for the market.
Additional factors that further drive the growth of the market can be listed as shortage of time to create in-house software and shortage of monetary resources in the IT industry. Enterprise data warehouse offers cost benefits that are concerned with on-demand software subscription.
However, the market may face minor restraints like inconvenience in improving and managing data quality may stand in way of success. However, experts believe that with time the market will overcome such shortcomings.
Global Enterprise Data Warehouse (EDW) Market Analysis, by Deployment, by Product Type and Data-…
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