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Cloud Database and DBaaS Market earned USD 14.2 billion in 2021, and to reach USD 43.7 billion in 2029, expanding at a CAGR of 15.1% | Size & Forecast Analysis
Cloud Database and DBaaS Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/cloud-database-and-dbaas-market/
The factors driving growth of Cloud Database and DBaaS Market includes emerging demand for self-driving cloud databases, rising focus by companies on reducing operational costs, increase in the volumes of data generated around the world and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT) by companies, increasing applications of cloud database solutions across industry verticals such as BFSI, healthcare and retail and rapid urbanization, are some of the additional factors supplementing the Cloud Database and DBaaS Market size. In addition, the increasing investments by major corporations on research and development, strategic mergers and acquisition between key players and growing population growth rates, are further contributing towards the market growth.
However, growth of the Cloud Database and DBaaS Market is hindered due to concerns related to security of data stored on cloud platforms.
The prominent players operating in the market are MongoDB Inc, Rackspace Inc, Teradata Corporation, Google LLC, Microsoft Corporation, AWS, CenturyLink Inc., IBM Corporation, Oracle Corporation and SAP SE, among others.
Based on Database Type, the Structured Query Language (SQL) segment is predicted to grow at a significant CAGR during the forecast period
Surge in the volumes of data generated worldwide and increasing use of SQL to keep data organized and voluntarily available through user interface, are some of the factors pushing growth of the segment.
Based on Vertical, the Retail & Consumer Goods segment is projected to capture the largest market share over the forecast period
Cloud database solutions helps e-commerce companies minimizing operational costs, improve process efficiency and enhances customer engagement, are propelling segment's growth.
Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period
Presence of the leading players such as Google LLC, Microsoft Corporation, and IBM Corporation, growing adoption of advanced technologies by major corporations, rapid industrialization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.
Key Developments
In 2019, Microsoft Corporation and Oracle Corporation partnered, to provide customers the option to migrate and run mission-critical enterprise workload across Oracle Cloud and Microsoft Azure.
In 2019, SAP SE collaborated with Microsoft Corporation to boost the adoption of SAP S/4 HANA and SAP cloud platform on Microsoft Azure. In addition, Microsoft Corporation also resells components of the SAP cloud platform along with Microsoft Azure.
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
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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