ID: MRFR/ICT/5382-HCR | February 2021 | Region: Global | 100 pages
Market Research Future anticipates the maturity of the cloud database market in the year 2023 with a CAGR of 46.78% in conjunction with a market value of USD 21.66 billion owing to the advent of new technology such as the Internet of Things (IoT). It is assumed that IoT and the growing adoption for database as a service (DBaaS) are a game-changer for the overall IT market. Growing implementation of cloud database and DBaaS results in value proposition which drives business agility, reduces costs, improves service resilience, performance guarantee and a couple of other benefits. Value proposition is the innovation of several features and services which make the product of a company attractive to customers. Currently, value proposition coupled with technology is fueling success in the cloud. Therefore, a number of large enterprises as well as small and medium-sized enterprises have adopted value proposition to witness a unique and compelling breakthrough. Furthermore, the technology value proposition is expected to be one of the major factors fueling the growth of the cloud database market over the forecast period. However, increasing privacy concerns is expected to hamper the growth of the cloud database market over the assessment period; as it can expose business data to malware and hackers.
Cloud database is a service which is produced and deployed through a cloud platform. It includes the traditional and database as a service (DBaaS) environment. The traditional database comprises a collection of diverse variety of structured as well as unstructured content. It is used to deliver scalable and reliable database solutions to enterprises. Cloud database resides on a computing infrastructure platform which consists of public, private, and hybrid cloud. DBaaS consists of a standard database environment which is executed through a database software. The service is scaled on implementation of instantly assigned computing solution, run-time, and storage of resources is expected to witness a positive growth in the forecast period owing to the rapid implementation of cloud-based services and solutions due to benefits such as, elimination of physical infrastructure, ease of access, on-demand SQL, instantaneous scalability, and others.
Cloud Database Market Key Players:
The prominent players in the cloud database market are Google Inc. (US), Amazon.com (US), Oracle (US), Microsoft (US), IBM (US), Salesforce.com Inc. (US), Rackspace Inc. (US), SAP AG (Germany), CenturyLink (US), and CSC (Computer Science Corporation) (US).
VMware Inc. (US), Verizon (US), and Dropbox (US) are among the other players in the market.
The cloud database market is segmented on the basis of database, model, component, organization size, end-users, and region. These segments are further sub-segmented into the following:
By database, the cloud database market is bifurcated 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 public cloud, private cloud, virtual private cloud, and hybrid cloud. Deployment model segmentations include; database as a service (DBaaS), platform as a service (PaaS), and infrastructure as a service (IaaS).
By component, the market is segmented into software and service. By software the market is segmented into database encryption, backup and recovery, data scaling and replication, database application builder, 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 bifurcated into large enterprise and small and medium-sized enterprise.
By end-user, the market is segmented into BFSI, healthcare, IT and telecom, government, academic, and others.
By region, North America, Europe, Asia-Pacific, and the rest of the world are the global segments.
Cloud Database Market Regional Analysis:
The regional analysis of cloud database market is considered for North America, Europe, Asia-Pacific, and the rest of the world.
Rapid adoption of new technology is driving the growth of the cloud database market in North America. The region is expected to dominate the market, owing to this, with the largest market share during the forecast period. The US, Canada, and Mexico are a few countries in the region, leading due to technical advancements and increasing adoption of cloud-based services and solutions. Leading providers of cloud database such as Google Inc., Oracle, Amazon.com, IBM, Microsoft, and others in the US are enhancing advanced technological architecture and providing cloud database network security. Asia-Pacific is expected to be the fastest growing region in the market, due to the increasing adoption of IoT and the shift of small and medium-sized enterprise and large enterprise to the cloud. China, Japan, and India are leading countries in the region, due to their vast customer base. Europe is expected to show a high growth rate during the forecast period owing to enhanced cutomer experience along with the growing investments of tech leaders such as Microsoft, Intel, IBM, and others in the European IT market.
|Market Size||USD 21.66 Billion (2023)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Database, Component|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Google Inc. (US), Amazon.com (US), Oracle (US), Microsoft (US), IBM (US), Salesforce.com Inc. (US), Rackspace Inc. (US), SAP AG (Germany), CenturyLink (US), and CSC (Computer Science Corporation) (US).|
|Key Market Opportunities||
|Key Market Drivers||Growing implementation of cloud database and DBaaS results in value proposition which drives business agility, reduces costs, improves service resilience, performance guarantee and a couple of other benefits.|
Frequently Asked Questions (FAQ) :
The global cloud database market is maturing at a whopping 46.78% CAGR over the review period of 2017 to 2023.
A few significant players of the global cloud database market are Rackspace Inc. (US), SAP AG (Germany), CenturyLink (US), and CSC (Computer Science Corporation) (US), among others.
The global market for cloud database is expected to witness a substantial growth of 21.66 billion by 2023.
The IT and telecom segment is likely to witness the highest demand in the cloud database market.
Cloud database is expected to witness a positive growth in the forecast period owing to the rapid implementation of cloud-based services and solutions due to benefits such as, elimination of physical infrastructure, ease of access, on-demand SQL, instantaneous scalability.