Cloud Database and DBaaS Market projected to reach USD 66.46 Billion by 2030, growing at a CAGR of 21.3% during the forecast period of 2023-2030 – professed by MarketDigits in its recent study
The Global Cloud Database and DBaaS Market was valued USD 17.2 Billion in 2023 and projected to reach USD 66.46 Billion by 2030, growing at a CAGR of 21.3% during the forecast period of 2023-2030
Richmond, Jan. 05, 2024 (GLOBE NEWSWIRE) — According to a research report “Cloud Database and DBaaS Market”, By Database Type (Structured Query Language, Not Only Structured Query Language), Component (Solutions, Database management, Storage, Services, Professional services, Managed services), Database Type (In-memory databases, NoSQL databases, Relational databases), Deployment Model (Hybrid, Private, Public), Organization Size (Large enterprises , SME), End User (BFSI, Government & public sector, Healthcare & life sciences, Manufacturing, Media & entertainment, Retail & e-commerce, Telecom & IT, Others) and Region – Global Forecast to 2030″.
Global Cloud Database and DBaaS Market Report Scope:
|Market size value in 2023
|USD 17.2 Billion
|Market size value in 2030
|USD 66.46 Billion
|Value (USD Million/USD Billion)
|Database Type, Component, Deployment Model, Organization Size, End User and Region
|North America, Europe, Asia Pacific, and RoW
|Sample of Companies Covered
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TOC Covers in Depth & Breath on Cloud Database and DBaaS Market
170 – Market Data Tables
65 – List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
The Cloud Database and Database as a Service (DBaaS) market continue to exhibit robust growth, driven by the escalating demand for scalable and flexible data management solutions. Organizations are increasingly adopting cloud-based databases to enhance agility, accessibility, and cost-effectiveness in managing their vast and diverse datasets. The trend towards digital transformation, coupled with the rising adoption of Big Data analytics, is propelling the market forward. The DBaaS sector, in particular, is witnessing accelerated adoption as businesses seek to offload the complexities of database management to specialized service providers, enabling them to focus on core competencies. With an emphasis on security, reliability, and performance, key players in the Cloud Database and DBaaS Market are investing in innovative features and services to cater to the evolving needs of enterprises across various industries. As cloud technology matures and becomes more ubiquitous, the market is poised for sustained growth, with a continued shift towards cloud-native and serverless database solutions.
Major vendors in the global Cloud Database and DBaaS Market:
- Google LLC
- Oracle Corporation
- IBM Corporation
- SAP SE
- Amazon Web Services, Inc.
- Alibaba Cloud
- MongoDB, Inc.
- Microsoft Corp.
- Ninox Software GmbH
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Increasing data traffic and demand for high-speed connectivity
The escalating demand for high-speed connectivity and the exponential growth of data traffic have emerged as pivotal drivers propelling the Cloud Database and Database as a Service (DBaaS) market. As organizations grapple with ever-expanding volumes of data generated from diverse sources, the need for scalable, efficient, and easily accessible database solutions becomes paramount. Cloud databases and DBaaS offerings, with their inherent ability to provide seamless scalability and rapid deployment, address the challenges posed by the surge in data traffic. The pursuit of real-time analytics, coupled with the imperative for swift decision-making processes, has intensified the reliance on cloud-based database solutions to deliver the speed and agility required in today’s dynamic business environment. This trend is underlined by businesses seeking to optimize their data management strategies, enhance overall operational efficiency, and stay ahead in the competitive landscape by harnessing the advantages of high-speed connectivity and robust cloud database infrastructure.
- Rise Benefit of cost savings
- Increasing need for scalability and flexibility
- Raising Government initiatives to support digitalization
- Adoption of IoT and connected devices
- Increasing Hybrid and Multi-cloud strategies
Rise of Autonomous Databases
The emergence of Autonomous Databases represents a significant trend in the Cloud Database and Database as a Service (DBaaS) market. This trend is characterized by the increasing adoption of self-driving, self-securing, and self-repairing database systems. Autonomous Databases leverage artificial intelligence and machine learning to automate various aspects of database management, including performance tuning, security patching, and system optimization. This shift towards autonomy not only enhances operational efficiency by reducing manual intervention but also contributes to improved reliability, security, and overall performance of cloud databases. As organizations seek streamlined and intelligent database solutions, the rise of Autonomous Databases is poised to reshape the landscape of the Cloud Database and DBaaS market, offering a more efficient and resilient database management experience.
North America dominates the market for Cloud Database and DBaaS Market.
North America held a dominant Cloud Database and DBaaS market and this trend is expected to persist in the forecast period. The region has experienced a notable surge in the demand for cloud databases, attributed to the widespread adoption of cloud technologies across various industries and the growing significance of big data and analytics. The expansion of cloud computing infrastructure is a key driver for the increased prevalence of cloud databases in North America. The shift of businesses towards cloud solutions is fueling the need for cloud-based data storage solutions.
To maintain a competitive edge, organizations in the region are actively introducing updates to their cloud database solutions. As an illustration, in October 2022, Nutanix unveiled the latest update to its Nutanix Cloud Cluster hybrid cloud component. This update enables organizations to run the Nutanix Cloud Platform software on Microsoft Azure, showcasing a hybrid multi-cloud system that supports both AWS and Azure clouds. This innovative system facilitates the swift utilization of Azure services by VNets running enterprise applications.
Large enterprises Segments is anticipated to hold the Largest Market Share during the Forecast Period
Based on the Organization Size segment categorized into large enterprises and SME. Large enterprises has a major share in the Cloud Database and DBaaS Market. The market share of the large enterprise segment is expected to be higher, reflecting a notable shift in global business practices due to the influence of the cloud database and Database as a Service (DBaaS) market. Enterprises of significant scale are moving away from traditional on-premises database solutions in favor of more adaptable, cloud-based alternatives. Throughout the forecast period, the growth of the cloud database market is predicted to be driven by the increasing demand from large enterprises for digital database management and storage. These businesses are increasingly opting for private cloud databases that utilize NoSQL-implemented storage, ensuring security and offering additional benefits such as simplified infrastructure configuration and reduced administrative complexities. To develop their cloud-based applications and solutions, enterprises can leverage cloud virtualization solutions, tools, and databases.
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