The growing significance of Business Intelligence (BI) is benefiting the market for data warehousing software. As a critical vehicle for delivering business intelligence, data warehousing enables consolidation of data from multiple sources with the aim of supporting tactical and strategic decision making. Data warehousing tools allow decision makers to send online queries and mine data critical in decision making. The data warehouse platform is the vital backbone that supports business intelligence and decision support systems. Integration of BI with enterprise applications such as ERP and CRM, therefore, provides demand opportunities for data warehousing solutions.
The banking & financial services industry represents one of the major markets for data warehousing technology. These institutions are the largest contributors to enterprise data volumes and experience the highest level of data density among all industries. Banks and financial institutions traditionally use data warehousing solutions, advanced analytics and business intelligence solutions to undertake profitability analysis, fraud prevention and risk management. Regulatory obligations as ordained by the government contribute significantly towards increasing the size of an organization’s database by hundreds of gigabytes every day. The 2007-2009 world recession resulted in a full scale overhaul of the old financial regulatory standards. The new financial compliance and governance standards such as Basel III make it mandatory for financial institutions to focus on risk assessment and analysis. With banks expected to start adopting key aspects of the revised Basel III framework, the new regulatory framework is projected to drive demand for advanced data warehousing and business intelligence solutions in the coming years.
As stated by the new market research report on Data Warehouse Management Software, the United States represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a projected CAGR of 12.2% over the analysis period. Growth in the region is led by steady economic growth, expanding enterprise market, increasing commercial activity, and rapidly growing retail, manufacturing, industrial, telecom, and healthcare sectors. A large number of companies in the region are increasingly migrating away from legacy mainframe computers. The ensuing establishment of new platforms, architectures, and tools, is expected to spur demand for advanced and sophisticated decision-support and executive information systems.
Major players covered in the report include Astera Software, EMC Corporation, Hewlett-Packard, Vertica Systems, Hexis Cyber Solutions Inc., HiT Software Inc., IBM Corporation, Informatica Corporation, Microsoft Corporation, Oracle Corporation, SAP AG, Sybase Inc., Software AG, SAS Institute Inc., and Teradata Corporation among others.
To download the complete Global Strategic Business Report 2015, Click Here.