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Why Invest in Database Monitoring Software Market Which Reach USD 20.5 Billion by 2031
Rise in the amount of data generated by industries accelerates the demand for database monitoring tools and increase in deployment of cloud computing technologies drive the global database monitoring software market.
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The global database monitoring software market was valued at USD 5.3 billion in 2021, and is projected to reach USD 20.5 billion by 2031, growing at a CAGR of 14.7% from 2022 to 2031.
The database monitoring software market is segmented into Database Model, Deployment Model, Organization Size and End Use Vertical. By database model, the market is bifurcated into hierarchical databases, network databases, object-oriented databases, relational databases, and NoSQL databases. The growing ubiquitous environment across the IT sectors and rising amount of data generated are driving the growth of the database monitoring software market.
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Covid-19 Scenario:
● The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global database monitoring software market. This is attributed to digitalization, rise in the networking of machines and industrial systems and an increase in the risk of cyberattacks.
● Business landscape involves a strategic methodology and proactive approach to stay ahead of possible risks.
● In addition, data monitoring software practitioners require solutions that can be flexibly deployed as security requirements evolve.
● The database monitoring software market is witnessing a surge in demand amid the COVID-19 outbreak, as growing adoption in IT & telecom industry becomes the new norm.
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Based on deployment model, the cloud-based segment held the highest share in 2021, accounting for more than 90% of the global database monitoring software market, and is expected to continue its leadership status during the forecast period. This segment is expected to register the highest CAGR of 15.08% from 2022 to 2031.
Based on end use verticals, the healthcare segment is estimated to grow at the highest CAGR of 18.31% during the forecast period. The report also analyzes segments including BFSI, government, manufacturing, retail, and others.
Based on organization size, the large enterprises segment accounted for the highest share in 2021, contributing to more than two-thirds of the global database monitoring software market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the SME's segment is expected to manifest the highest CAGR of 16.26% from 2022 to 2031.
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Based on region, North America held the largest share in 2021, contributing to more than half of the global database monitoring software market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 16.59% during the forecast period.
Leading market players of the global database monitoring software market analyzed in the research include dbWatch AS, eG Innovations, Heroix Corporation, Nagios Enterprises, LLC, Paessler AG, Red Gate Software Ltd, Sematext Group, SolarWinds Worldwide, LLC, VirtualMetric, quest software inc.
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