According to Cognitive Market Research, the global data warehouse as a service market was USD 4,874.9 million in 2022 and will grow at a compound annual growth rate (CAGR) of 23.5% from 2023 to 2030. How are the Key Drivers Affecting the Data Warehouse as a Service Market?

Rising Demand for High Speed And Low Latency Analytics is Driving the Data Warehouse as a Service Market

The rising demand for high-speed and low-latency analytics propels the Data Warehouse as a Service (DWaaS) Market. Businesses require real-time insights from vast datasets to make agile decisions. DWaaS platforms can process and analyze data rapidly, enabling quicker response times.

In May 2021, WPP unveiled a collaboration with Microsoft aimed at innovative content production transformation by introducing Cloud Studio.

(Source:http://news.microsoft.com/2021/05/05/wpp-and-microsoft-to-creatively-transform-content-production-through-new-cloud-studio-partnership/)

With the need to extract actionable insights swiftly, DWaaS solutions cater to this demand, enhancing operational efficiency, improving decision-making, and bolstering organizations' competitiveness in the rapidly evolving digital landscape.

The Factors Restraining the Growth of the Data Warehouse as a Service Market

Data Security Concerns are Restraining the Data Warehouse as a Service Market

Data security concerns constrain the Data Warehouse as a Service (DWaaS) Market. Organizations hesitate to migrate sensitive data to cloud-based solutions due to potential breaches, unauthorized access, and compliance risks. Ensuring robust encryption, authentication, and compliance with data protection regulations is challenging. Building trust in cloud-based storage and analytics security is crucial for wider DWaaS adoption as businesses prioritize safeguarding their valuable data assets.

Impact of the COVID-19 Pandemic on the Data Warehouse as a Service Market:

COVID-19 significantly disrupted the Data Warehouse as a Service (DWaaS) market. The pandemic's remote work requirements accelerated the demand for cloud-based data solutions. Organizations sought scalable and accessible DWaaS to accommodate changing data needs. Simultaneously, economic uncertainties led some businesses to delay or reconsider investments. The DWaaS landscape responded with increased emphasis on flexibility, remote accessibility, cost optimization, and robust security measures to address the evolving challenges posed by the pandemic. Introduction of Data Warehouse as a Service:

The data warehouse as a service (DWaaS) Market is growing due to businesses' increasing need for scalable and cost-effective data management solutions. DWaaS offers the flexibility to handle large and diverse data sets, enabling data-driven decision-making. The cloud-based nature of DWaaS streamlines implementation reduces infrastructure costs, and ensures easy accessibility, contributing to its rapid adoption and market expansion.

In February 2021, AWS launched the Amazon Redshift Query Editor, compatible with ENHANCED cluster VPC routing. This feature extends support to all node types, and the query time-out limit was extended from 10 minutes to 24 hours for handling queries with longer execution times.

(Source:http://aws.amazon.com/about-aws/whats-new/2021/02/amazon-redshift-query-editor-supports-clusters-with-enhanced-vpc-routing-query-run-times-node-types/)

According to Cognitive Market Research, The Global American Football Balls market size is USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of 6.20% from 2023 to 2030.

The demand for American Football Ballsis rising due to the increasing popularity of American football and technological advancements in ball design and materials.
Demand for official footballs remains higher in the American Football Balls market.
The professional players’ category held the highest American Football Balls market revenue share in 2023.
North American American Football Balls will continue to lead, whereas the Asia-Pacific Football Balls market will experience the most substantial growth until 2030.

Growing Participation in American Football to Provide Viable Market Output

The increasing participation in American football serves as a key driver for the American Football Balls market. As the sport gains popularity at various levels, from youth leagues to professional competitions, there is a rising demand for high-quality footballs. The surge in player engagement propels the market, driving manufacturers to innovate and offer technologically advanced balls that meet the performance expectations of players, teams, and leagues. The growing fan base and community involvement further contribute to the sustained demand for American footballs, making increased participation a significant market driver.

In April 2021, Vicis Helmets secured positions in the top three in the annual Helmet Laboratory Testing Performance Results.

(Source: www.prnewswire.com/news-releases/vicis-helmets-claim-top-three-spots-in-nflnflpa-helmet-laboratory-performance-testing-301272968.html)

Technological Advancements in Ball Construction to Propel Market Growth

Another important factor driving the industry is the use of technology in American football design and construction. Manufacturers spend money on R&D to bring new materials, aerodynamic features, and improved grip technologies to market. These advancements aim to improve the overall performance, durability, and feel of footballs, meeting the evolving preferences of players and enhancing the gaming experience. The integration of cutting-edge technologies ensures that American footballs align with the highest standards of quality and performance, driving market growth by catering to the demands of both professional athletes and amateur player.

In Aug 2021, An artificial intelligence challenge was jointly launched by Amazon Web Services (AWS) and the National Football League (NFL) to find creative ways for computers to automatically identify players using NFL game footage.

(Source: www.nfl.com/playerhealthandsafety/equipment-and-innovation/aws-partnership/nfl-and-aws-launch-artificial-intelligence-challenge-to-crowdsource-ways-to-auto)

Strategic Acquisitions and Partnerships

Market Dynamics Of the American Football Balls

Impact of COVID-19 on Sports Activities to Restrict Market Growth

The aftermath of the COVID-19 pandemic stands as a key restraint in the American Football Balls market. Lockdowns, event cancellations, and disruptions to sports activities resulted in decreased demand for American football, impacting manufacturers and distributors. The economic uncertainties and budget constraints faced by sports organizations, schools, and individuals during the pandemic further contributed to a temporary downturn in the market. The slow recovery and ongoing challenges in the sports sector continue to restrain the market's growth, emphasizing the lingering effects of the pandemic on the demand for American footballs.

Impact of COVID-19 on the American Football Balls Market

The COVID-19 pandemic significantly impacted the American Football Balls market, causing disruptions in production, supply chains, and overall market demand. Lockdowns, social distancing measures, and restrictions on sports activities led to the cancellation or postponement of various sporting events, including American football leagues and competitions. This resulted in a reduced demand for new footballs as team sports faced interruptions. Additionally, the economic uncertainties brought about by the pandemic led to budget constraints for both individual players and sports organizations, affecting their purchasing capabilities. The closure of manufacturing facilities and logistical challenge...

According to Cognitive Market Research, the Global Professional Services market size was USD 6,103.24 billion in 2022 and is projected to boost at a compound annual growth rate (CAGR) of 5.17% from 2023 to 2030. How are the Major Factors Impacting the Professional Services Market Growth?

Rising Focus On Digitizing Business Processes to Provide Viable Market Output

The professional services market is anticipated to be driven by an increasing focus on digitizing business processes. The term 'digital transformation' represents the expanding trend of businesses executing digital technologies to improve general business operations and customer experience. It's the action that officially shows in the digital era in business, and it has the possibility to impact markets in different industries significantly.

For instance, as per Zippia, a US-based developer of online recruitment and job insights media, the global price of digital transformation was $1.5 trillion in 2021 and by 2023, it is expected that global spending on digital modification will total $6.8 trillion. Hence, the rising digitization of business operations will enhance the professional services market.

(Source:www.zippia.com/advice/digital-transformation-statistics/)

The expansion of automation to eliminate ordinary tasks and radical changes in consumer demand, such as customized pricing and improved customer experience, are pushing companies to implement IT services globally and the increasing demand for operational efficiency in the professional service enterprise.

Technological Advancements to Fuel Market Growth

The professional services market has revolutionized because of increased competition, and digitalization is pushing companies to entertain with professional service providers. IT professional service providers deliver a streamlined and standardized process to the organization's administrative processes, helping in the digital transformation of the institution's operations.

For instance, Amazon Web Services, Inc., in February 2022, declared AWS local zones and infrastructure deployment global development in 16 U.S. cities with approximately 30 new local zones. These infrastructure deployments will help AWS extend its computing, database, storage, and other services to a large population from numerous industries. These developments would also drive the industry's growth.

Professional service companies can deliver various services, including audit and accounting, consultation, implementation support, and financial risk protection. They deliver analytic capabilities as well as a foundation for operating business information.

Increasing Cyber Threats Propels the Professional Services Market Growth

Increasing demand for business support services (Access Detailed Analysis in the Full Report Version)

The Factors Hindering the Growth of the Professional Services Market

Lack of Knowledge and Expertise to Hinder Market Growth

Lack of knowledge and expertise to affect the utilization of professional services among companies Due to the complicated nature and the high demand for research, operating with the cloud is often a highly tedious task. It needs immense knowledge and comprehensive expertise on the topic.

According to the PwC CEO Survey 2020, 77% of CEOs were concerned regarding the availability of a skilled workforce. The survey also discovered that those firms that focused on developing their employees' skills were ahead of their peers in multiple ways and were more secure in their future.

(Source:www.pwc.com/gx/en/ceo-survey/2020/trends/pwc-talent-trends-2020.pdf)

Therefore, upskilling is required so that these professionals can easily handle cloud-based applications with fewer problems and ensure improved performance and reliability.

Impact of COVID-19 on the Professional Services Market

The COVID-19 pandemic tried the professional services industry by pushing them to execute remote work at a large scale and adjust their business processes to rapidly changing market conditions. COVID-19 accelerated numerous technological changes across industries, companies countered the pandemic with the use of technology by concentrating on resource management and talent acquisition. The rising focus of businesses on security, cost efficiency, and compliance created a demand for professional services. What is...