Cloud-Based Data Management Services Market worth $141.7 billion by 2028, growing at a CAGR of 28.7 %: Report by MarketsandMarkets™

Chicago, Jan. 26, 2024 (GLOBE NEWSWIRE) — The Cloud-Based Data Management Services Market size is expected to grow to USD 141.7 billion by 2028 from USD 40.2 billion in 2023 at a Compound Annual Growth Rate (CAGR) of 28.7% during the forecast period, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “Cloud-Based Data Management Services Market

215 – Tables
57 – Figures
255 – Pages

Download PDF Brochure @

Cloud-Based Data Management Services Market Dynamics:


  • Simplified data backup and disaster recovery
  • Increase in demand for improved data usability and quality
  • Growth in necessity for workplace collaboration
  • Higher emphasis on business continuity


  • Performance issues
  • Lack of training and skill gap


  • Demand for scalability, accessibility, and flexibility among businesses
  • Growth in adoption of hybrid and multi-cloud environments

List of Key Players in Cloud-Based Data Management Services Market:

  • IBM
  • Fujitsu
  • Cisco
  • Dell Technologies
  • HPE 
  • NetApp
  • Informatica
  • SAS
  • Actian
  • Oracle

 The growing demand for integrated database management to tackle increased automation drives the global cloud-based data management services market during the forecast period.

Inquiry Before Buying @

Based on service type, the quality-as-a-service segment is expected to grow at the highest CAGR during the forecast period. Quality-as-a-Service comprises data cleansing, data updating, standardization, and data de-duplication. In a data-driven world, an organization’s data quality has become critical to its success. As businesses increasingly rely on cloud platforms to store and manage their data, the need for high-quality data has grown exponentially. Poor-quality data can lead to many issues, including inaccurate decision-making, reduced productivity, and increased costs. Thus, organizations are opting for cloud-based data quality solutions with the rise in cloud data storage and significant demand for cloud integration solutions.

Based on deployment mode, the private cloud segment is expected to grow at a higher CAGR during the forecast period. Private cloud adoption in the cloud-based data management services market has been driven by the need for enhanced security, control, and customization, especially for organizations with sensitive data and regulatory compliance requirements. Companies such as IBM, VMware, and Microsoft provide private cloud solutions tailored for data management, offering dedicated resources, advanced security measures, and compliance support.

Speak to Analyst @

Based on vertical, the BFSI vertical is to hold the largest market share in 2023. The adoption of cloud-based data management services in the banking, financial services, and insurance (BFSI) sector has become increasingly prevalent, marking a transformative shift in how financial institutions handle their data infrastructure. Major banks, such as JPMorgan Chase and Capital One, have been vocal about migrating to cloud platforms for improved data management and analytics. Capital One, for instance, has leveraged AWS for data storage and analytics to enhance customer experiences and drive innovation. Additionally, insurance companies such as Allianz have utilized cloud-based solutions to manage vast amounts of customer data efficiently, enabling faster claim processing and risk assessment. Cloud-based data management services offer agility, scalability, and cost-effectiveness; owing to such factors, organizations from the BFSI sector are increasingly adopting cloud-based data management services.

Browse Adjacent Markets: Software and Services Market Research Reports & Consulting

Related Reports:

Property Management Market

Social and Emotional Learning (SEL) Market

Trade Management Market 

RegTech Market

Inspection Management Software Market

CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email:

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy