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Operational Database Market - Analysis, Growth, Trends And Outlook 2024
A database is collection of data, organized in digital form. There are several databases available in the market which are differentiated based on their functions. Examples of such databases are document-oriented database, embedded database, graph database, hypertext database, operational database and distributed database. An operational database is a data warehouse, containing data related to an organization, which can be used to run the day to day operations and can generate huge amount of data related to customers, inventory, purchases, transactions and financials. The operational database can be easily modified depending upon the requirements and can store and supply information for ongoing calculations.Get Sample Report Copy :
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As technology advances, the need for more agile and prompt solutions is growing. Enterprises have also turned toward real-time information for more efficient and effective decision making. As operational databases meet these needs, they are expected to find sustained growth in the market during the coming years. Furthermore, they offer better integrity, reduced data repetition and independence from application programs. They are also cost efficient as compared to traditional databases. Additionally, these databases can be easily modified based on the business rules. There are numerous customizations offered by operational databases including data formatting, error tracking, and validation of data. Operational databases also allow multiple users to edit data simultaneously, which is an important factor driving the growth of operational database market.
Databases are integration of complex hardware and software systems. Designing and development of databases is a complex undertaking. Building a suitable database architecture keeping in mind the future needs is very crucial for an organization. Additionally, the cost associated with customizing the database is high and may require frequent changes in the system making it difficult for small organizations to adopt these changes. Data breaches, security threats and reluctance of small and medium-sized enterprises to invest in IT systems are some of the factors hindering the growth of operational database market.
With growing understanding toward the importance of data for decision making, database providers are offering solutions which are intuitive in nature. Moreover, trends such as Internet of Things (IoT) and analytics are likely to boost the market for database in coming years. Emergence of database-as-a-service (DBaaS) is a key trend in database market.
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The key players in operational database market include Amazon Web Services, Oracle Corporation, Microsoft Corporation, IBM Corporation, SAP SE, EnterpriseDB Corporation, InterSystems Corporation, MarkLogic Corporation, MongoDB, Inc., DataStax, Inc., Cloudera Inc., and Redis Labs, Inc. Some additional players are Fijitsu Ltd., Couchbase Inc., MemSQL Inc., NuoDB Inc., MapR Technologies, Inc., and Altibase Corporation.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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