Global Cloud Database and DBaaS Market - Analysis By Database Type (SQL, NOSQL), Deployment Model (Private, Public, Hybrid), Enterprise Size, End-use, By Region, By Country: Market Insights and Forecast (2024-2029)
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What is Cloud Database and DBaaS?
A cloud database is a database that typically runs on a cloud computing platform and access to the database is provided as-a-service. Database as a service (DBaaS) is the process of application owners paying an outside provider that launches and maintains a cloud database for storage, as opposed to having the application owners control the database themselves.
The selecting of DBaaS depends not only on the services being provided by the company, but it also depends on the requirements of the company as well. There are certain parameters that can be taken as a guide to choose the best DBaaS such as Data Sizing, Portability, Transaction capabilities, Configurability, Database accessibility, Data Integrity, Security and Storage Location, etc.
Cloud Database and DBaaS Market Overview
The Cloud Database and DBaaS Market is showing growth at a CAGR of 10.94% in 2019-2022 and is expected to witness a robust growth rate in at CAGR 14.53% during the period 2024-2029. The market is valued at USD 16.04 Billion in 2022 which is expected to reach in 2029 at USD 39.67 Billion. One of the key reasons anticipated to propel the DBaaS and cloud database market during the estimated time frame is the increase in the need for huge storage space and the rise in demand for self-driving cloud databases. The volume of data produced by different industry verticals has expanded due to ongoing digitalization, which is fueling the expansion of the worldwide DBaaS and cloud database market.
The Global Cloud Database and DBaaS Market is expected to grow in the forecast period and register a market value of USD 39.67 Billion in 2029 at a CAGR of 14.53% during the forecast period.
An organization or group of enterprises can store and manage numerous types of data using a global cloud database service. Businesses that require constant, easy access to databases might consider cloud databases. Some of the most well-known cloud systems and cloud service providers include MySQL, Oracle, IBM DB2, and Microsoft SQL Server.
There are other open-source cloud computing platforms like MySQL. The market for DBaaS and cloud databases is expanding significantly as a result of the advent of autonomous databases. This is due to its capability to automate common database chores including database optimization, security, backups, and upgrades using machine learning.
The automation of data analytics has also spread its use across all industries, supporting the expansion of the DBaaS and cloud database markets. In order to enable end-to-end automation for provisioning, change management, updates, security, availability, performance, and error prevention, autonomous data models were designed, which leveraged AI and machine learning techniques. One of the security issues preventing the DBaaS and cloud database business from expanding is data breach. Because of security flaws, data theft or breaches have a financial cost and damage an organization's brand. Therefore, security lapses expose a business to a range of data privacy issues.
Advantages of DBaaS over Installing a DBMS
An internal administrative team is needed by businesses to run and maintain an on-site database. With database-as-a-service, all management is done by the cloud provider. As a result of DBaaS relieving them of administrative responsibilities, the present IT staff may focus on innovation and applications. Furthermore, unlike traditional DBMS systems, which only deal with structured data together with the metadata stored in the database, DBaaS enables structured, unstructured, and semi-structured data. Database as a Service (DBaaS) use is expected to roughly triple over the next two years, according to Oracle. There will be a general expansion in Platform as a Service, or PaaS, of which DBaaS is a component.
Technical and development teams frequently navigate through IT to access an on-premise database system, which could take days or weeks. On the other hand, using DBaaS, developers can easily spin up and set up a database that is ready to be linked with their application. Due to all of these causes, the market will consequently grow tremendously. Additionally, businesses are utilizing DBaaS solutions to support particular versions or limit the configuration that customers can provision. Additionally, DBaaS can automate the deployment process and requires no IT intervention.
Growing Implementation of Cloud Database
The cloud is a logical resource since databases can endure extreme load expansions and contractions in a matter of seconds. A larger range of employees within an organization may find it easier to set up and manage cloud databases thanks to their tools. As a result, businesses don't have to spend as much time perfecting their databases and can instead concentrate on other things. A cloud database offers scalability and elasticity as needed. A cloud database will also restrict user costs to what they are actually using.
Cloud databases are typically made available as part of the database-as-a-service (DBaaS) model. A cloud database's information is accessible from anywhere because it is accessed through a cloud platform. They enable businesses to effectively manage their database infrastructure, keep expenses under control, concentrate on their core strengths, and take advantage of the benefits of cloud computing technologies. Additionally, using cutting-edge technology like artificial intelligence, machine learning, and big data analytics is made possible by cloud databases. The capacity to grow automatically to meet traffic variations, support for high-speed data processing and real-time analytics, and simple interface with other cloud services and tools are further potential advantages of a cloud database.
Segment-Wise Insights
SQL Database Type accounts for USD 10.70 Billion in 2022
Cloud databases provide an ideal solution for this need, as they offer flexible storage options and the ability to scale up or down as data need quick changes. The rise in the data generation volume in the various industry verticals will in turn create lucrative growth opportunities for the SQL cloud database and DBaaS market.
Hybrid Cloud Adoption accounts for USD 6.89 Billion in 2022
The hybrid cloud model allows companies to leverage the benefits of cloud-based databases, such as scalability and cost savings, while still maintaining control over their sensitive data and complying with data sovereignty regulations.
Large Enterprise has the highest share in Cloud Database and DBaaS Market
Large Enterprises often have complex and diverse data requirements, which can be challenging to manage with traditional on-premises databases. Cloud databases offer virtually limitless scalability, allowing organizations to quickly and easily add more storage capacity or processing power quickly and efficiently as their data needs increase over time.
BFSI has the highest share in Cloud Database and DBaaS Market
BFSI help improve investment monitoring in financial institutions, including banks and insurance companies. Various organizations have started adopting Cloud Database and DBaaS solutions to protect vital information need to be stored. The increasing implementation of regulatory standards, coupled with the rise in the adoption of cloud-based solutions is expected to give rise to the market.
Regional Insights
According to Azoth Analytics Estimates, Americas accounts for the largest revenue share in 2022. North America is the leading market for cloud database and DBaaS, owing to the presence of major market players such as Amazon Web Services, Microsoft, and IBM. Additionally, the region has a high adoption rate of cloud-based solutions across various industries, such as healthcare, BFSI, and retail, which has further fueled the growth of the market.
Competitive Landscape
Global Cloud Database and DBaaS Market is fragmented with top 10 companies accounting for a significant revenue share in the year 2022. Leading companies and brands in the market are executing different strategies and partnerships to strengthen the foothold and increase the competitiveness and product offerings in the market.
Microsoft Corporation, SAP SE, Tencent Holdings Ltd., Alibaba Group Holdings Ltd., Oracle Corporation, among others are the leading companies in the Global Cloud Database and DBaaS Market.
Leading companies in the Global Cloud Database and DBaaS Market include:
Microsoft Corporation
SAP SE
Tencent Holdings Ltd.
Alibaba Group Holdings Ltd.
Oracle Corporation
Amazon.com, Inc.
Nutanix, Inc.
IBM Corporation
MongoDB, Inc.
Teradata Corporation
Recent Investment/Development/Partnership in the Cloud Database and DBaaS Market
By Database Type
By Deployment Model
By Enterprise Size
By End-User
By Region
Frequently Asked Questions:
Global Cloud Database and DBaaS Market is expected to be valued at USD 39.67 Billion in 2029.
At what growth rate is Cloud Database and DBaaS Market expected to grow in the forecast period?
During 2024-2029, Cloud Database and DBaaS Market is expected to grow at CAGR of 14.53%.
Which Region dominates the Cloud Database and DBaaS Market?
Americas contributes the largest revenue share in the Cloud Database and DBaaS Market and is expected to continue in the forecast period as well.
Which are the leading companies in the Cloud Database and DBaaS Market?
The leading companies in Cloud Database and DBaaS Market are Microsoft Corporation, SAP SE, Tencent Holdings Ltd., Alibaba Group Holdings Ltd., Oracle Corporation, Amazon.com, Inc., Nutanix, Inc., IBM Corporation, MongoDB, Inc., Teradata Corporation, Snowflake, etc.
At what rate will United States Cloud Database and DBaaS Market Grow?
During 2024-2029, United States Cloud Database and DBaaS Market is expected to grow at a CAGR of 17.02%
Scope of the Report:
• The report analyses the Cloud Database and DBaaS Market by Value (USD Billion)
• The report presents the analysis of Cloud Database and DBaaS market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
• The report presents the analysis of Cloud Database and DBaaS market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
• The report analyses the Cloud Database and DBaaS Market by Database Type (SQL, NOSQL).
• The report analyses the Cloud Database and DBaaS Market by Deployment Model (Private Cloud, Public Cloud, Hybrid Cloud).
• The report analyses the Cloud Database and DBaaS Market by Enterprise Size (Large, SMEs).
• The report analyses the Cloud Database and DBaaS Market by End-use (BFSI, Telecom & IT, Manufacturing/Industrial, Healthcare & Life Sciences, Government, Others (Media & Entertainment, Retail, Energy, etc.)).
• The Global Cloud Database and DBaaS Market has been analysed by countries (United States, Canada, Mexico, Germany, United Kingdom, Italy, China, Japan, India, Australia.
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Cloud Database and DBaaS Type, by End-use.
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include are Microsoft Corporation, SAP SE, Tencent Holdings Ltd., Alibaba Group Holdings Ltd., Oracle Corporation, Amazon.com, Inc., Nutanix, Inc., IBM Corporation, MongoDB, Inc., Teradata Corporation.
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