India - March 16, 2022 /MarketersMEDIA/ —
Market Highlights
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 global cloud database market is expected to reach USD 21.66 billion growing at 46.78% CAGR over the forecast period. 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 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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Cloud Database Market Research Report, by Database (SQL and NoSQL), Model (Service and Deployment), Component (Software and Service), Organization Size (Large and small enterprise), End-User (BFSI, Healthcare, and others) — Global Forecast till 2027
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