Cloud Database and DBaaS - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Cloud Database and DBaaS Market is accounted for $10.21 billion in 2019 and is expected to reach $37.11 billion by 2027 growing at a CAGR of 17.5% during the forecast period. Some of the key factors propelling the market growth include rising need for self-driving cloud databases, growing demand to process low-latency queries, and rising prominence of IoT in IT and telecom industries. However, privacy and security of the data stored on databases are likely to hamper the market. On the other hand, rise in the production of database workload and increase in the growth of the NoSQL database would create significant opportunities for the key players of the cloud database and DBaaS market in the coming years.
A cloud database runs on a cloud computing platform, and access to the database is provided as-a-service. The database services look after the scalability and high availability of the database. Database services make the underlying software-stack transparent to the user. Cloud platforms let their users acquire virtual machine for a restricted occasion, and this can operate a database on such virtual machinery. Users can both upload their individual mechanism image along with the database installed on it, or use ready-to-use machine pictures that already consist of an optimized fixing of a database.
By end user, the Banking, Financial Services and Insurance (BFSI) segment is one of the most data-centric verticals where large volumes of databases are generated at an exponential rate. Various factors are expected to contribute to the growth of the database in the financial sector such as electronic transactions, Automated Teller Machines (ATMs), credit cards, call centers, and mobile-based sources. The database generated from these sources is scattered across various branches and departments across various financial institutions and needs to be interlinked together. The linking of this database is important to derive meaningful insights and sustain in the competitive market.
On the basis of geography, North America is expected to be the leading region in terms of adopting cloud database and DBaaS services. The US and Canada are expected to be the major contributors to the North American market. Enterprises in the region are most progressive in terms of the adoption of Artificial Intelligence (AI), Machine Learning (ML), and cloud adoption, thereby boosting the growth of the market. Moreover, the presence of major cloud database and DBaaS vendors in the region is drive the market growth.
Some of the key players in cloud database and DBaaS market include AWS, IBM Corporation, DataStax, SAP SE, Mongodb, Teradata, CenturyLink Cloud, Google, Inc., Microsoft Corporation, Amazon.com, Inc., Tencent, Rackspace US, Inc., Salesforce.com, Inc., MemSQL, Oracle Corporation, Alibaba Cloud, RDX, EnterpriseDB, Redis Labs, and Neo4j.
• Backing and Recovery
• Record Encryption
• Database Application Designer
• Information Scaling and Imitation
Database Types Covered:
• Not Only Structured Query Language (NoSQL)
• Structured Query Language (SQL)
• Database-as-a-Service (DBaaS)
• Cloud Database
End Users Covered:
• Telecom and Information Technology (IT)
• Banking, Financial Services and Insurance (BFSI)
• Media and Entertainment
• Consumer Goods and Retail
• Energy and Utilities
• Healthcare and Life Sciences
• Other End Users
Organization Sizes Covered:
• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises
Deployment Models Covered:
• Hybrid Cloud
• Private Cloud
• Public Cloud
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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