Global Data Management as a Service Market Overview:
The Global Data Management as a Service market was valued at $4.74 billion in 2020 and is expected to reach $11.93 billion by 2027, growing at a CAGR of 14.1% during the forecast period. Data management as a service is a type of cloud service that provides businesses with centralised storage for disparate data sources. Digital data is growing at an exponential rate in today’s market. The proliferation of the Internet of Things (IoT) is creating an explosion of digital content.
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Global Data Management as a Service Market Dynamics:
In the last couple of years, the data universe has seen this tremendous development. In reality, in the last two years, over 80 to 90 % of the digital data present in the current market has been generated. With the growth in data, the number of data breaches has increased. For example, in 2013-14, Yahoo Company suffered a data breach, resulting in the loss of 3 billion user account databases. In its 2016 data infringement episode, Friend Finder Networks Inc., an American internet corporation, lost the database of its 412.2 million users. Likewise, data theft was observed by eBay, Equifax, and Heartland Payment Systems. Thus, data storage and data processes are secured by the growth in data requirements, which in turn creates demand for data management suppliers in the end-use industry. Over the years, the growing trend of cloud adoption is expected to drive data management as a service market globally.
Global Data Management as a Service Market Segmentation:
The market is divided into three categories: hardware, software, and services, depending on the component. By 2027, the services sector is anticipated to command the largest market shares. The goal of data management services is to safely and effectively ingest, store, organise, and use the data that an organisation has generated and gathered. Increasing demand for data management services across a range of industries, including transportation, energy and utilities, government and defence, among others, is the primary driver of the services segment’s growth in the global market over the course of the forecast period.
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Global Data Management as a Service Industry Key Players:
- Siemens AG
- Frontier Technology Limited
- Deloitte Touche Tohmatsu Limited
- Hewlett Packard Enterprise Development LP
- Happiest Minds
- Informatica
- Cegal
- Cisco
- Hitachi Data System
- FUJITSU
- EMC Corporation
- NetApp
Global Data Management as a Service Market Regional Analysis:
After taking into account the political, economic, social, and technical factors affecting the Global Data Management as a Service market in each of the five regions—North America, Europe, Asia Pacific, the Middle East and Africa, and South America—the study also provides a comprehensive PESTLE analysis for each of these regions.
COVID-19 Impact Analysis on Global Data Management as a Service Market:
The Global Global Data Management as a Service Market Research Report provides a sector overview based on important factors such as sales volume, revenue, and sales forecasting, as well as key drivers. The market is anticipated to expand significantly over the anticipated time frame (2021-2029). This study also includes the most recent market ramifications of COVID-19. The outbreak’s global spread has significantly impacted people’s lives. As a result, industries have been compelled to adopt new behaviours, patterns, and strategies. The case study makes an effort to depict the present and potential expectations of the market.
Key Questions answered in the Global Data Management as a Service Industry Report are:
- Which product segment had the largest share in the Global Data Management as a Service Industry in 2020?
- How is the competitive landscape of the Global Data Management as a Service industry?
- Which are the key factors aiding the Global Data Management as a Service industry growth?
- Which region holds the maximum share in the Global Data Management as a Service industry?
- What will be the CAGR of the Global Data Management as a Service industry during the forecast period (2021-2027)?
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