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Database Monitoring Software Market Trends, Surging Demand, Detailed Analysis, And Forecast To 2033
Database Monitoring Software Market
Database Monitoring Software 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 $29.79 billion In 2028 At A CAGR Of 23.5% :
The database monitoring software market size has grown rapidly in recent years. It will grow from $1.77 billion in 2023 to $2.06 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to innovation in analytics and reporting, demand for scalability and flexibility, dependency on critical applications, real-time monitoring needs.
The database monitoring software market size is expected to see rapid growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to resource optimization for cost efficiency, critical application dependency, rising demand for data storage, diverse database environments. Major trends in the forecast period include focus on performance optimization, compliance with regulations, automation for efficiency, enhanced security measures, data growth and complexity.
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Database Monitoring Software Market Major Segments
The database monitoring software market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment: Cloud or SaaS, On-Premises
3) By Enterprise Size: Large Enterprises, SMEs
4) By End User: Banks and Financial Institutes, Healthcare, Government, IT and Telecom, Retail, Other End Users
Key Driver - Rising Data Generation Fuels Database Monitoring Software Market Growth
An increase in data generation is expected to propel the growth of the database monitoring software market going forward. Data generation refers to the generation of datasets, which are intended to be further processed in a database. Database monitoring software enables the user to quickly handle enormous amounts of data generated, resulting in quicker insights and the capacity to stay one step ahead of the competition. For instance, in October 2021, according to the SeedScientific, a US-based provider of data innovation and analytics services, global data production is predicted to reach 463 exabytes per day by 2025 and at least 1,200 petabytes of data are kept in storage by Google, Facebook, Microsoft, and Amazon. Therefore, an increase in data generation is driving the growth of the database monitoring software market.
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Prominent Trend - Innovative Solutions Drive Database Monitoring Software Market
Technological advancement is a key trend gaining popularity in the database monitoring software market. Major companies operating in the database monitoring software market are focused on developing new technological solutions using Artificial intelligence (AI), machine learning, and cloud computing to strengthen their position in the market. For instance, in April 2022, Tata Consultancy Services (TCS), an India-based IT services, consulting, and business solutions organization, launched the TCS ADD suite, an agile and intuitive risk-based monitoring solution for clinical trials, that promotes intelligent decision making, increased compliance and enhanced study efficacy. The new risk-based monitoring tool enables biopharmaceutical companies and related companies to identify site risks through advanced statistical algorithms and drive intelligent data-driven decisions. The data science-driven risk-based monitoring solution accurately predicts outcomes related to site workload and risks and allows stakeholders to develop proactive monitoring strategies.
Database Monitoring Software Market Players
Major companies operating in the database monitoring software market report are SolarWinds Worldwide LLC, Quest Software Inc., VirtualMetric B V, Sematext Group Inc., Heroix Corporation, eG Innovations Pvt. Ltd., Redgate Software Ltd., Nagios Enterprises LLC, Paessler AG, dbWatch AS, Dynatrace Inc., Intergral GmbH, Idera Inc., IT-Conductor Inc., Oracle Corporation, Cisco Systems Inc., Datadog, AppDynamics, New Relic, Riverbed Technology, Inc., Zoho Corporation Pvt. Ltd., Progress Software Corporation, BMC Software Inc., Splunk Inc., International Business Machines Corporation, Microsoft Corporation, AppNeta, LogicMonitor Inc., Micro Focus International plc, PRTG Network Monitor
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Largest And Fastest Growing Region In The Market
North America was the largest region in the database monitoring software market share in 2023. The regions covered in the database monitoring software 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. Database Monitoring Software Market Report Structure
3. Database Monitoring Software Market Trends And Strategies
4. Database Monitoring Software Market - Macro Economic Scenario
5. Database Monitoring Software Market Size And Growth
…..
27. Database Monitoring Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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