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Cloud Database And DBaaS Market 2024 Overview, Size, Share, Growth Trends, Opportunities And Forecast 2033
Cloud Database And DBaaS Market
As per the report, the cloud database and DBaaS market size has grown exponentially in recent years. It will grow from $19.86 billion in 2023 to $24.03 billion in 2024 at a compound annual growth rate (CAGR) of 21%. The cloud database and DBaaS market size is expected to see exponential growth in the next few years. It will grow to $52.13 billion in 2028 at a compound annual growth rate (CAGR) of 21.4%.
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Digitalization Fuels Growth In The Cloud Database And DBaaS Market
The increasing digitalization is expected to propel the growth of the cloud database and DBaaS market going forward. Digitalization refers to the process of leveraging digital technologies to transform business operations, processes, and models. This digital transformation has enabled businesses of all sizes to leverage digital tools to streamline operations, improve decision-making, and create new value propositions. Cloud databases and Database-as-a-Service (DBaaS) offer various database options, including relational and NoSQL databases, allowing businesses to choose the database type that best suits their application requirements. For instance, in May 2023, according to the report published by the European Investment Bank, a Luxembourg-based European Union's long-term finance institution, in 2022, 42% of European firms invested further in digitalization, marking a 9% point increase compared to 2021. Moreover, one in two firms in the United States, or 50%, pursued additional investment in digitalization during the same period. Therefore, increasing digitalization drives the growth of the cloud database and DBaaS market.
Introducing Proactive Self-Healing Architecture In Cloud Database Service Offering
Major companies operating in the cloud database and DBaaS market focus on developing advanced technologies such as proactive self-healing architecture for database management to increase service offerings. A proactive self-healing architecture for database management is a system that autonomously detects and resolves issues within a database environment before they impact performance. For instance, in January 2024, Silk Technologies Inc., a US-based technology company, announced the launch of a Cloud Database as a Service (DBaaS), delivering customers a comprehensive managed cloud database service encompassing patching, monitoring, updates, and optimization for various major database platforms. This service enables customers to concentrate on strategic initiatives by delegating routine management tasks to seasoned database administrator (DBA) teams. The package includes round-the-clock DBA support and a proactive self-healing framework for database administration.
The cloud database and dbaas market covered in this report is segmented -
1) By Component: Solution, Service
2) By Database Type: Not Only Structured Query Language (NoSQL), Relational Database
3) By Deployment: Public, Private, Hybrid
4) By Enterprise Size: Large Size Enterprises, Small And Medium Sized Enterprises (SMEs)
5) By End-use Industry: Information Technology (IT) And Telecommunications, Banking, Financial Services, And Insurance (BFSI), Healthcare, Government And Public Sector, Manufacturing, Automotive, Retail And Consumer Goods, Media And Entertainment, Others End-use Industries
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Major companies operating in the cloud database and dbaas market are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Broadcom Inc., SAP SE, Salesforce Inc., Lumen Technologies Inc., Alibaba Cloud, Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Akamai Technologies Inc., Rackspace Technology Inc., Check Point Software Technologies Ltd., Trend Micro Inc., CrowdStrike Holdings Inc., Sangfor Technologies Inc., Cloudflare Inc., Barracuda Networks Inc.
Contents of the report:
1. Executive Summary
2. Cloud Database And DBaaS Market Report Structure
3. Cloud Database And DBaaS Market Trends And Strategies
4. Cloud Database And DBaaS Market - Macro Economic Scenario
5. Cloud Database And DBaaS Market Size And Growth
…..
27. Cloud Database And DBaaS Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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