Open Database Connectivity (ODBC) Global Market Set For Rapid Growth, To Reap Bulk Revenues, Application And Forecast to 2033 | SAS Institute Inc., Hitachi Vantara, Teradata Corporation, Databricks Inc., Snowflake Inc.

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Open Database Connectivity (ODBC) Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $3.20 billion In 2028 At A CAGR Of 17.0% :

The open database connectivity (ODBC) market size has grown rapidly in recent years. It will grow from $1.46 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to increased data proliferation, increased cross-platform compatibility, increased data integration initiatives, IoT proliferation, increased open-source community support.

The open database connectivity (ODBC) market size is expected to see rapid growth) in the next few years. It will grow to $3.20 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to rise of big data, compatibility with multiple databases, regulatory compliance, real-time data processing, data security concerns. Major trends in the forecast period include advancements in data virtualization, performance optimization, integration with big data technologies, scalability improvements, machine learning integration.

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Open Database Connectivity (ODBC) Market Major Segments
The open database connectivity (ODBC) market covered in this report is segmented -
1) By Driver: Single-Tier ODBC Driver, Multi-Tier ODBC Driver
2) By Operating System: Windows, macOS, Linux, Other Operating Systems
3) By Deployment: Cloud, On-Premise
4) By Application: Marketing And Collaboration, Big Data And NoSQL, File And Application Programming Interface (API), Accounting, E-Commerce, Other Applications
5) By End-User: Manufacturing, Banking, Financial Services, And Insurance (BFSI) , Government, Information Technology (IT) And Telecommunications , Electronics, Healthcare, Automotive, Other End Users

Key Driver - Cloud Adoption Fueling Open Database Connectivity (ODBC) Market Growth

Rising cloud adoption is expected to propel the growth of the open database connectivity (ODBC) market going forward. Cloud adoption refers to the strategic move by organizations to reduce costs, mitigate risks, and achieve scalability of database capabilities by using cloud technologies to improve the way they do business. The demand for cloud services is increasing as these services offer a cost-effective alternative to traditional on-premises infrastructure with operational benefits that make cloud computing an attractive and strategic choice for businesses of all sizes. ODBC facilitates seamless database connectivity in the cloud, allowing applications to interact with various cloud-based database management systems (DBMS) using a standardized interface. For instance, in December 2023, according to Eurostat, a Europe-based intergovernmental organization, cloud computing services for accessing software, processing power, storage capacity, and other resources were acquired by 45.2% of EU businesses. The rise from 2021 to 4.2 percentage points (pp) Therefore, rising cloud adoption is driving the growth of the open database connectivity (ODBC) market.

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Prominent Trend - Innovative Data Management Solutions In The Open Database Connectivity Market

Major companies operating in the open database connectivity market are developing customer-centric innovations, such as the ODBC driver, to enhance seamless and efficient data interaction across diverse database environments. It enables communication and data exchange between an application and a database by translating the application's ODBC calls into commands that the particular DBMS can understand. For instance, in June 2023, Amazon Athena, a US-based serverless, interactive analytics service provider, introduced an enhanced ODBC driver designed to elevate the connectivity, querying, and visualization experience for SQL development and business intelligence applications. This updated version maintains support for existing features, offers a straightforward upgrade process, and introduces new functionalities. Notably, it now enables user authentication through the AWS IAM Identity Center and provides the flexibility to read query results directly from Amazon S3, potentially expediting the availability of query results.

Open Database Connectivity (ODBC) Market Players
Major companies operating in the open database connectivity (ODBC) market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Amazon Web Services Inc., SAS Institute Inc., Hitachi Vantara, Teradata Corporation , Databricks Inc., Snowflake Inc., Cloudera Inc., MongoDB Inc., Progress Software Corporation, insightsoftware, Redgate Software, MariaDB, Devart Lab Inc., CData Software Inc, FairCom Corporation, Delphin Technology AG, Actual Technologies LLC, eGenix.com Software GmbH, Easysoft Limited, OpenLink Software, NexusQA Pty Ltd.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the open database connectivity (ODBC) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the open database connectivity (ODBC) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Open Database Connectivity (ODBC) Market Report Structure
3. Open Database Connectivity (ODBC) Market Trends And Strategies
4. Open Database Connectivity (ODBC) Market - Macro Economic Scenario
5. Open Database Connectivity (ODBC) Market Size And Growth
…..
27. Open Database Connectivity (ODBC) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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