New York, US, Nov. 14, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Database Management Platform Market: By Data Type, By Data Source, End-User – Global Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 158.57 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 11.53% during the assessment timeframe.
Database Management Platform Market Overview:
The database management platform market is expected to see rapid revenue growth. The availability of different types of database services, alongside changing technology landscape, advancements in automation, and the cloud, are major driving forces. Besides, the growing demand for AI-infused tools to accelerate and automate various business processes drives the market growth. With the rising demand for analytics to understand changing customer preferences and make the best decisions based on product pages, the market is projected to garner significant traction across the globe.
Database Management System (DBMS) is used to find and store information that can be securely modified according to the organization’s needs. Database management solutions, with other business intelligence & computing tools, help organizations use organized data to gain improved and effective decision-making, agility, and scalability. Over recent years, DBMS has evolved significantly due to major technological advances.
Autonomous technology has improved database management, offering self-driving, self-securing, and self-repairing capabilities. Self-driving databases are revolutionizing how companies have managed and secured their data, offering performance advantages and enabling low-cost operations & improved security. Database management platforms offer significant advantages, such as efficiently storing high-risk data that can be accessed securely and simple data handling techniques with reduced data inconsistency.
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Key players active in the Database Management Platform Market are-
- Adobe Systems Inc (US)
- Oracle Corporation (US)
- KBM Group LLC (US)
- Rocket Fuel, Inc (US)
- Lotame Solutions Inc (US)
- Krux Digital Inc (US)
- Turn Inc (US)
- Neustar, Inc (US)
- SAP SE (Germany)
- SAS Institute (US)
- Cloudera Inc (US)
- Informatica (US)
Database Management Platform Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 158.57 Billion |
| Growth Rate | CAGR of 11.53% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | The data management platform needs the right people to run the operation |
| Key Market Drivers | The growing use of technology in companies is contributing to the need for effective data protection |
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Industry Trends
Additionally, the increasing adoption of database management platforms for customer acquisition and optimizing digital marketing & advertising campaigns are major trends boosting the market size. The proliferation of traditional web analytics and social networks providing real-time analysis to identify issues and improve digital customer experience positively impacts Database Management Platform Market growth.
Also, the increasing use of database management platforms by marketing professionals and advertisement companies increases market shares, enhancing the digital customer experience. The world of mobile applications has ceaselessly grown and improved in recent years due to the advancement of AI-related user engagement. All these factors act as major tailwinds for market growth.
Businesses increasingly need solutions that can offer improved data protection & collection and enhanced data security. The growing use of the internet, smart connected devices powered by the Internet of Things (IoT), and smartphones among organizations to handle day-to-day business processes boost market revenues. The COVID-19 outbreak has impacted the database management platform market positively.
The market has been witnessing a constant uptick over the past few months. Technology providers are making substantial investments to foster R&D activities. With the COVID-19 crisis expected to extend beyond 2021 and spurring growth in advertising optimization and multichannel campaigns, the need for database management solutions is expected to increase phenomenally in years to come.
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Despite demonstrating strong growth potential, the market still witnesses major headwinds obstructing its growth. For example, the lack of competence and professional workforces hinders the growth of organizations.
Database Management Platform Market Segments
The market is segmented into data types, data sources, end-users, and regions. The data type segment is sub-segmented into first, second, and third-party data. The data source segment is sub-segmented into web analytics tools, mobile web, mobile apps, POS data, CRM data, social networks, and others. The end-user segment is sub-segmented into ad agencies, marketers, publishers, and others. The region segment is sub-segmented into the Asia-Pacific, Americas, Europe, and rest-of-the-world.
Database Management Platform Market Regional Analysis
North America heads the global database management platform market. Factors like the strong presence of major database management solution providers and well-established technology development centers drive market growth. Besides, major market trends include vast technological advances, substantial R&D investments, and the growing demand for advanced database management platform solutions.
Other key factors bolstering the market growth include the rising demand for website analytics solutions for analyzing and managing the geographical distribution of website traffic. The growing focus of organizations across the region on enhancing digital platforms to improve customer experience by boosting their website operation performance fosters regional market growth.
Database Management Platform Market Competitive Analysis
The database management market is estimated to witness significant product launches and several strategic approaches, such as expansion, collaboration, mergers & acquisitions, and product launches. Mature industry players also invest significantly in research and development activities and expansions. The market witnesses several innovative product launches and related technology launch each year. Their expansion initiatives of services focusing on venues and promoter partnerships into emerging Database Management Platform Market help revenue growth.
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For instance, on Nov.03, 2022, Momento, a Canadian start-up provider of a highly flexible and customizable personal database management tool, announced that it has deployed a serverless database to meet variable application demand for DB tools requiring minimal configuration and a reliable backend. The serverless data caching feature will enable Momento to accelerate databases. The new platform will allow organizations to scale and accelerate database queries in the cloud without adding more infrastructure.
In another instance, on Nov.03, 2022, Aerospike Cloud, a leading database vendor, announced that it has advanced its core database technology and real-time database service with JSON and Trino support, building a new database-as-a-service platform. The multi-model, NoSQL Aerospike Database 6 enables organizations to cost-effectively process gigabytes-to-petabytes of data to make real-time decisions with unlimited scale.
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