BFSI segment to dominate India Data Warehousing market through FY2027
Surge in the demand for automated analytics
for consumer behaviour analytics and the growth of the IT sector is expected to
drive the demand for India Data Warehousing market in the forecast period.
According to TechSci Research report, “India
Data Warehousing Market By Usage Type (Analytics, ETL (Extraction,
Transform and Load) and Reporting, Data Mining), By Data Type (Unstructured and
Semi-Structured & Structured), By Deployment (On-Premise, and Cloud), By
Application (Customer Analytics, Fraud Detection and Threat Management, Supply
Chain Management, Others), By Organization Size (Small & Medium Sized
Enterprises and Large Enterprises), By Industry Vertical (BFSI, Telecom &
IT, Government, Manufacturing, Retail, Healthcare, Media & Entertainment,
and Others), By Region, Competition Forecast & Opportunities, FY2027”, the
India Data Warehousing market is expected to witness steady growth in the
forecast period. Data warehousing is a technique to the data warehouse in which
the data from various places is stored. Business organizations use it to make
informed decisions based on the generated data. The growing demand for data
mining in organizations for searching different patterns of data to increase
the profit and sales of the organization is contributing to the growth of the
Data Warehousing market in the next five years. The advantage of using a data
warehouse is that it helps in quick data retrieval in organizations to find
complex information. Data warehousing helps in detecting and correcting the
errors before the loading of the data, which ensures the data uploaded is
correct and thereby aids in improving the decision-making process of the
organizations.
The COVID-19 outbreak worldwide, which has been
declared a pandemic by World Health Organization, has affected several
countries adversely. Coronavirus-affected patients started suffering from
shortness of breath along with coughing and sneezing. India's leading
authorities imposed lockdown restrictions and released a set of precautionary
measures to contain the spread of novel coronavirus. Business organizations
have provided the facility of work from home to the employees that are expected
to create the demand for cloud Data Warehousing software to manage and analyze
the complex information generated through various sources, which can be used
later by the organizations to make decisions.
However, the rise in the threats of data breaches and
cyber-attacks and high deployment costs may restrain the growth of the Data
Warehousing market for the forecast period.
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India
Data Warehousing market is segmented into usage type, data type, deployment,
application, organization size, industry vertical, regional distribution, and company.
Based
on the industry vertical, the market can be divided into BFSI, telecom &
IT, government, manufacturing, retail, healthcare, media & entertainment,
and others. The BFSI segment is expected to witness significant growth in the
forecast period, FY2023-FY2027. The BFSI industry stores a large amount of data
on a daily basis, and any fluctuations can affect adversely. The growing use of
data mining and big data analytics to protect confidential information from
frauds and malicious cyber-attacks is increasing the adoption of Data
Warehousing in the BFSI sector.
Microsoft
India Pvt Ltd, IBM India Pvt Ltd, Google India Pvt Ltd., Oracle Corp., Amazon
Web Services, Inc, Actian India, Cloudera, Inc., SAP India Pvt. Ltd.,
Snowflake, Inc., Teradata Corporation, Dell India Pvt Ltd, Informatica Business
Solutions Private Limited, Micro Focus India Private Limited, Sigma Computing
Solutions (I) Pvt Ltd, Talend, Inc are the leading players operating in India Data
Warehousing market. Service providers are increasingly focusing on research and
development process to fuel higher growth in the market. To meet evolving
customer demand with respect to better efficiency and durability, several ambulance
service providers are coming up with their technologically advanced offerings.
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“The
rise in the adoption of virtual Data Warehousing technology by organizations to
efficiently manage the data, lower time and expenditure involves a lower risk
in the data management process. The use of advanced technologies such as
artificial intelligence and machine learning to increase the overall performance
of Data Warehousing, thereby form a smart data warehouse that can automatically
optimize and transform data based on the user requirements. The investments
made by the market players to introduce novel products and rapidly adopt
advanced technologies to upgrade the existing infrastructure is expected to
propel the Data Warehousing market growth till FY2027” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“India
Data Warehousing Market By Usage Type (Analytics, ETL (Extraction, Transform
and Load) and Reporting, Data Mining), By Data Type (Unstructured and
Semi-Structured & Structured), By Deployment (On-Premise, and Cloud), By
Application (Customer Analytics, Fraud Detection and Threat Management, Supply
Chain Management, Others), By Organization Size (Small & Medium Sized
Enterprises and Large Enterprises), By Industry Vertical (BFSI, Telecom &
IT, Government, Manufacturing, Retail, Healthcare, Media & Entertainment, and
Others), By Region, Competition Forecast & Opportunities, FY2027” has
evaluated the future growth potential of India Data Warehousing market and
provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of India Data
Warehousing market.
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