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Relational Database Market Overview 2024-2033 - Market Growth Analysis, Trends And Demand
Relational Database Market Overview
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According to The Business Research Company's, The relational database market size has grown rapidly in recent years. It will grow from $65.54 billion in 2023 to $74.09 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to the adoption of cloud-based solutions, the demand for real-time analytics, the increasing volume of data generated, the increasing need for businesses to automate, and the growth of personal computing.
The relational database market size is expected to see rapid growth in the next few years. It will grow to $121.57 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to the increasing volume of data generated, the rising adoption of cloud computing, the increasing demand for real-time analytics, the growth of edge computing, and the increasing use of data virtualization techniques. Major trends in the forecast period include the integration of AI and machine learning, technological advancements, DevOps and continuous integration, advancements in database technologies, and blockchain integration.
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Market Drivers and Trends:
The rising adoption of cloud computing is expected to propel the growth of the relational database market going forward. Cloud computing is a technology model that enables on-demand access to a shared pool of configurable computing resources (such as servers, storage, databases, networking, software, and applications) over the internet. Cloud computing adoption is rising due to its scalability, flexibility, cost-effectiveness, and the ability to access resources from anywhere with internet connectivity. Relational databases in the cloud provide a robust, scalable, and efficient solution for managing structured data that enables organizations to leverage advanced database features without the overhead of maintaining physical infrastructure, allowing them to focus on core business activities. For instance, in December 2023, according to Eurostat, a Luxembourg-based intergovernmental organization, 45.2% of enterprises within the European Union procured cloud computing services, primarily for hosting email systems, storing electronic files, and performing various tasks. Compared to 2021, purchases of cloud computing services among EU enterprises rose by 4% in 2023. Therefore, the rising adoption of cloud computing is driving the growth of the relational database market.
Major companies operating in the relational database market are adopting strategic partnership approaches to strengthen service offerings to meet diverse customer needs efficiently. Partnership refers to a strategic collaboration between companies within the database industry aimed at achieving mutual benefits such as innovation, market expansion, and technological integration. For instance, in March 2024, Fauna, a US-based adaptive operational database platform, partnered with Google Cloud Platform, a US-based cloud service provider, to make it easier for developers to leverage the capabilities of both technologies together. This integration allows developers to easily access and utilize Fauna's distributed document-relational database within the Google Cloud ecosystem, streamlining the procurement process and simplifying the integration of Fauna with other Google Cloud services.
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Major Key Players of the Market:
Amazon.com Inc., Google LLC, Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Teradata Corporation, Cloudera Inc, InterSystems Corp, EnterpriseDB, Idera Inc., Cockroach Labs Inc, SingleStore Inc, Actian Vector Corp, Percona LLC, MySQL AB, Yugabyte, MariaDB Corporation, ScyllaDB Inc, Greenplum Inc, Fauna Inc., GridGain Systems Inc., ClickHouse Inc, Apache Software Foundation, PostgreSQL Inc
Relational Database Market 2024 Key Insights:
• The relational database market size is expected to see rapid growth in the next few years. It will grow to $121.57 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%.
• Cloud Computing's Impact On The Relational Database Market
• Strategic Partnerships In The Relational Database Market Enhancing Service Offerings And Innovation
• North America was the largest region in the relational database market in 2023
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