Cloud Database and DBaaS Market:
Growth opportunities in the Cloud Database and DBaaS Market look promising over the next six years. This is mainly due to their enhanced efficiency, fewer safety concerns, and minimizing operational expenses coupled with the aggravating need to process low-delaying problems.
Cloud Database and DBaaS Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The augmenting demand to handle low-latency inquiries, the surging requirement of a self-driving cloud database, along with the increasing implementation of these services for the storage of analytical data are some of the key drivers responsible for the growth of the Global cloud database and DBaaS market. Also, other factors which include, cost-effectiveness, accessibility, adjustability, coherent incorporation, have supported individuals to switch towards this database from conventional, which is thereby fuelling the market growth. Businesses, including healthcare, retail, and BFSI located across different locations mainly rely on websites, leading them to endorse these storage systems to raise productivity and reduce operational costs. Also, as per the market analysis, the platform allows enterprises to decrease over 30% of the cost of a similarly configured on-premises database platform and also reduce the cost of labor needed to maintain the onsite database.
Database Type Segment Drivers
Based on the database type, the market is segmented into SQL and NoSQL. Among these, SQL is projected to expand at a higher CAGR during the forecast period. The database management system helps to keep the data organized and voluntarily available through the user interface. Thus, their escalating requirement attributes to the rise in data volume. The data collected from clients is needed to be stored somewhere, so it operates with a relational database and assembles data into columns, rows, and tables, which correspond to files, and records. Hence, it helps in getting on-demand access to managed relational databases bolstering the market growth.
Regional Drivers
Based on the regional coverage, North America is expected to witness a faster CAGR during the forecast period. This is mainly because of the early acquisition of technology by emerging countries, including the U.S. and Canada. Furthermore, organizations are progressively adopting multiple sophisticated technologies including AI, RPA, and cloud computing, which is promoting market growth.
Cloud Database and DBaaS Market’s leading Manufacturers:
- CenturyLink Inc
- Rackspace Inc
- SAP SE
- IBM Corporation
- Microsoft Corporation
- Teradata Corporation
- MongoDB Inc
- Oracle Corporation
- AWS
- Google LLC
Cloud Database and DBaaS Market Segmentation:
Segmentation by Database Type
- Structured Query Language (SQL)
- Not only Structured Query Language (NoSQL)
Segmentation by Component
- Solution
- Services
- Professional Services
- Managed Services
Segmentation by Deployment Model
- Public Cloud
- Private Cloud
- Hybrid Cloud
Segmentation by Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Segmentation by Vertical
- Banking, Financial Services and Insurance (BFSI)
- IT & Telecom
- Government
- Retail & Consumer Goods
- Manufacturing
- Energy & Utilities
- Healthcare
- Others (Education, Travel and Hospitality, and Transportation)
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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