The size of the worldwide market for cloud databases and DBaaS was estimated at USD 12.8 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 15.7% to reach USD 26.0 billion by 2032. With the aid of cloud databases and DBaaS solutions, businesses can manage and store massive amounts of data in one convenient area. This facilitates data access, analysis, and insight-gathering, all of which may lead to improved company performance.
Overall, the market for cloud databases and DBaaS is anticipated to grow in the coming years due to the many advantages that these solutions provide, such as scalability, flexibility, affordability, and ease of management; additionally, the growing need for data-driven decision-making and the adoption of cutting-edge technologies like AI and IoT, as well as these advantages.
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Regional Scope
- North America
- Europe
- APAC
- South America
- Middle East
- Africa
Key Players
- Amazon Web Services
- Microsoft Corporation
- Google LLC
- IBM Corporation
- Oracle Corporation
- Alibaba Cloud
- VMware, Inc.
- Salesforce.com, Inc.
- SAP SE
- Red Hat, Inc.
- Hewlett Packard Enterprise Development LP
- Cisco Systems, Inc.,
- Dell Technologies, Inc.
- Fujitsu Limited,
- Citrix Systems, Inc.
Market Trend
Cloud databases will benefit from artificial intelligence (AI), which will include functions like automatic monitoring, anomaly detection, predictive analytics, and an intuitive user interface. Automating maintenance processes like upgrading and tweaking is the aim of fully managed databases. Cloud databases with automation let firms swiftly recover from mistakes. Many firms use automatic backups and system restorations. Businesses may also implement configuration standards and regulations by using a range of compliance tools and standardized services. AI may be used by cloud database systems to scale resources up or down in response to client demand and achieve optimal performance and responsiveness.
Through 2032, the solutions segment’s cloud database and DBaaS market is projected to expand at a CAGR of 15.7%. Organizations may make use of the solutions’ storage choices and database management solutions. Database management systems can give businesses administration, performance control, and monitoring features. These solutions can identify problems and resolve them to maximize network performance. Storage management solutions allow users to make the best use of their storage devices while protecting the data integrity of any media that they may be stored on.
Growth Factors
Autonomous databases are becoming more and more in demand. This is because of its ability to use machine learning to automate routine database tasks including security, backups, updates, and database optimization. The COVID-19 epidemic also increased workloads, which is another reason driving up demand for autonomous databases. The need for a database as a service has increased since it gets rid of DBA mistakes, which negatively affect the functionality, availability, and security of an application. Because cloud computing technology reduces the overall cost of infrastructure, it is also in high demand, and this is expected to drive market growth in the upcoming years.
To run and keep up an on-premises database, businesses need an internal administration staff. When using database-as-a-service, all management is taken care of by the cloud provider. Because DBaaS relieves the present IT staff of administrative responsibilities, they can focus on innovation and applications. Technical and development teams frequently travel via IT to access an on-premise database system, which might take days or weeks. On the other hand, with DBaaS, developers can easily spin up and set up a database that is ready to be linked with their application, and they can access database features. Because of all these variables, the industry will therefore grow tremendously.
Market Challenges
The lack of industry standards presents a major barrier to the adoption of cloud databases and DBaaS: vendor lock-in. Though efforts and technological solutions are being made to solve this challenge, there hasn’t been enough study done to completely understand how difficult the issue is in the context of clouds. Because of this, while utilizing vendor services, many clients are ignorant of proprietary standards that impede application portability and interoperability.
For instance, difficulties arising from incompatibilities arising from modifications made to the original provider’s system might make data migration across data centers difficult. Businesses are continuously searching for improved cloud databases and DBaaS services since they cannot afford to depend on a single supplier in this fiercely competitive market. Poor business processes, mismatched technology, large switching costs upfront, and contractual limitations can all lead to vendor lock-in. These issues are impeding the uptake of DBaaS services and cloud databases, and they are also making it challenging for suppliers to stay competitive in the market.
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