Cloud Database Market is anticipated to grow USD 38.6 Billion at a CAGR of 14.80% CAGR by 2030
The cloud database market in the with a CAGR of 14.80% in conjunction with a market value of USD 38.6 billion By year 2030 .The advent of internet of things (IoT) and rise of cloud computing are major drivers of the market. Implementation of cloud databases for improving service, lowering cost, and expediting services can benefit the market. Rise in digitization of data and the move towards cloud by organizations of all sizes can be a golden opportunity for cloud database providers.
The
speedy implementation of novel technology is motivating the progress of the cloud database
market in the North
American region. The region is likely to govern the market, due to this, with
the principal market segment through the forecast period. Canada, the US, and
Mexico are some of the countries in the region, directing the market due to
technical progress and growing adoption of cloud-based services and solutions.
The leading suppliers of cloud database such as Oracle, Amazon.com, Google Inc.,
IBM, Microsoft, and others in the US are augmenting unconventional
technological architecture and offering cloud database network security. The
Asia Pacific region is anticipated to be the speediest growing region in the
market, because of the growing adoption of IoT and the movement for small and
medium-sized enterprise and big enterprise to the cloud. Japan, China, and
India are the principal nations in the region, owing to their massive customer
base. The European region is anticipated to display an important growth rate
through the forecast period due to improved customer experience along with the
increasing investments of tech chiefs in the European IT market.
The necessity to achieve business agility while reducing costs is promoting
the move to cloud database market. Moreover, the need to ensure a robust
technology value proposition is motivating the cloud database market around the
world. Also, the popularity of private, public, and hybrid cloud is expected to
motivate the market in the coming years.
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Segmentation:
By database, the cloud database market is divided into SQL database and
NoSQL database.
By model, this market is segmented into service model and deployment model.
By service model, the market is further segmented into private cloud, virtual
private cloud, public cloud, and hybrid cloud. Deployment model segmentations
include infrastructure as a service (IaaS), database as a service (DBaaS), and
platform as a service (PaaS). By deployment model, the DBaaS segment can
provide security to data with tight surveillance and software upgrades designed
to maintain the integrity of data stored in the database.
By component, the cloud database market is segmented into
software and service. By software the market is segmented into database
application builder, database encryption, data scaling and replication, backup
and recovery, and others. By service, the market is segmented into training and
consulting service, system and network integration service, and deployment and
maintenance service.
By organization size, the market is segmented into large enterprise and
small and medium-sized enterprise.
By end-user, the market is segmented into academic, BFSI, healthcare, IT
and telecom, government, and others.
Competitive Analysis
The market is being distinguished by the instrumental forces that are
applying an imposing influence. The upgrades in the mining of natural resources
are further supporting market expansion advancement. The improvement of
substitute raw material resources is likely to further concentrate on the supply
demands in the market. The instabilities in global currency are predicted to
become stable and consequently place a beneficial impact on the market. The
upturn of investment into physical capital is estimated to underpin the
market’s growth in the forecast period. The progress in the efficacy of
production facilities is buttressing the market’s growth pace in the coming
years. Also, inventions in technology are anticipated to exercise a
constructive inspiration on the enhancement of the market. The influence of
governmental plans is stirring additional evolution of the market. The revivals
carried out in the logistic chain are projected to produce favorable
possibilities for progress in the coming period.
SAP AG, CenturyLink, CSC (Computer Science Corporation), Salesforce.com
Inc., Google Inc., Oracle, Amazon.com, Rackspace Inc., IBM, and Microsoft are
key players in the global cloud database market.
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