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Cloud Based Data Management Services Market Expansion Continues, with Forecast Valuation of $218.28 Billion by 2029
Cloud Based Data Management Services
Cloud Based Data Management Services Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for cloud-based data management services has seen a significant expansion in recent years. It is projected to increase from $53.1 billion in 2024 to $69.1 billion in 2025, indicating a compound annual growth rate (CAGR) of 30.1%. The historical growth is connected to factors such as the expansion and growth of data, cost effectiveness and scalability, business globalization, the surge in remote work, and an emphasis on data security and regulatory compliance.
Cloud Based Data Management Services Market Size Forecast: What's the Projected Valuation by 2029?
The market size for cloud-based data management services is projected to experience a significant surge in the upcoming years, reaching a value of ""$218.28 billion by 2029, progressing at a compound annual growth rate (CAGR) of 33.3%. This projected growth during the forecasted period can be associated with factors such as the adoption of hybrid and multi-cloud, integration of edge computing, emphasis on data governance and quality, augmented demand for real-time analytics, and the swift expansion of IoT data. Furthermore, vital trends during this period encompass initiatives for digital transformation, advancements in cloud services technology, integration of edge computing, focus on data security and privacy, and solutions for managing multiple clouds.
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What Are the Drivers Transforming the Cloud Based Data Management Services Market?
The growth of the cloud-based data management services market is set to be spurred on by the accelerated utilization of 5G technology. As the latest evolution in mobile communication networks, 5G supersedes its 4G (LTE) and 3G predecessors. It enables a quicker and constant delivery of applications, encouraging industries to opt for services that demand quicker data transfer capabilities. To illustrate, global 5G wireless network connections saw a 76% boost from the end of 2021 to the end of 2022, reaching 1.05 billion, as reported by 5G Americas, a US-based trade organization representing leading telecommunications firms and services in April 2023. As such, the surge in 5G technology's implementation is significantly contributing to the expansion of the cloud-based data management services market.
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What Long-Term Trends Will Define the Future of the Cloud Based Data Management Services Market?
Leading firms in the realm of cloud-based data management services are entering into strategic partnerships to efficiently expand their databases. These partnerships are in response to the growth in their AI workloads, and are aimed at managing the massive data produced by AI applications. Such collaborations are essential in offering comprehensive and end-to-end data management solutions to corporate clients. For example, in November 2023, IBM, a technology company based in the US, joined forces with Amazon Web Services, another American cloud computing company, in relation to Db2. This is a fully managed cloud service intended to simplify data management for database customers focused on artificial intelligence (AI) workloads within hybrid cloud settings. Amazon RDS for Db2 is designed to integrate flawlessly with other AWS AI services, allowing clients to utilize AI-guided insights and analytics in their database.
Which Segments in the Cloud Based Data Management Services Market Offer the Most Profit Potential?
The cloud based data management services market covered in this report is segmented -
1) By Service Type: Integration Services, Data Security and Back-up Services Quality-as-a-Service
2) By Service Model: Software-As-A-Service, Platform-As-A-Service, Infrastructure-As-A-Service
3) By Deployment model: Public Cloud, Private Cloud, Other deployment modes
4) By End-User: Banking, Financial Services and Insurance (BFSI), Manufacturing, Healthcare, Information Technology (IT) And Telecommunication, Retail, Other End-User
Subsegments:
1) By Integration Services: Data Migration, API Management, Cloud Integration Platforms, Application Integration, Middleware Solutions
2) By Data Security And Back-Up Services: Data Encryption, Backup And Recovery Solutions, Disaster Recovery As A Service (DRaaS), Access Control Management, Threat Detection And Response
3) By Quality-As-A-Service: Data Quality Assessment, Data Cleansing, Data Profiling, Data Enrichment, Continuous Data Quality Monitoring
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Which Firms Dominate the Cloud Based Data Management Services Market by Market Share and Revenue in 2025?
Major companies operating in the cloud based data management services market include Actian Corporation, Cisco Systems Inc., Dell Technologies Inc., EMC Corporation, Fujitsu Ltd., Hewlett Packard Enterprise Development LP, Hitachi Data Systems Corporation, International Business Machines Corporation (IBM), Informatica LLC, NetApp Inc., SAS Institute Inc., Hewlett Packard Enterprise Company L.P., Oracle Corporation, SAP SE, Amazon Web Services Inc., Microsoft Corporation, Google LLC, Snowflake Inc., Teradata Corporation, plc, TIBCO Software Inc., Cloudera Inc., Experian plc, Alibaba Group, Neo4j Inc., OrientDB Inc., ArangoDB GmbH, Cockroach Labs, ScaleBase Inc., Clustrix
Which Regions Offer the Highest Growth Potential in the Cloud Based Data Management Services Market?
North America was the largest region in the cloud-based data management services market in 2024. The regions covered in the cloud based data management services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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