New York, July 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Cloud Database and DBaaS Market - Analysis By Database Type, Deployment Model, Enterprise Size, End-use, By Region, By Country: Market Insights and Forecast" - https://www.reportlinker.com/p06472417/?utm_source=GNW
The market is valued at USD 16.04 Billion in 2022 which is expected to reach in 2029 at USD 39.67 Billion.
Rise in demand for large storage space and growth in need for self-driving cloud databases are some of the major factors that are expected to drive the DBaaS and cloud database market during the forecast period. On-going digitalization has increased data volumes generated by various industry verticals, which, in turn, boosts the growth of the global DBaaS and cloud database market.
One of the key reasons anticipated to propel the DBaaS and cloud database market during the estimated time frame is the increase in the need for huge storage space and the rise in demand for self-driving cloud databases. The volume of data produced by different industry verticals has expanded due to ongoing digitalization, which is fueling the expansion of the worldwide DBaaS and cloud database market. The Global Cloud Database and DBaaS Market is expected to grow in the forecast period and register a market value of USD 39.67 Billion in 2029 at a CAGR of 14.53% during the forecast period.
Some of the most well-known cloud systems and cloud service providers include MySQL, Oracle, IBM DB2, and Microsoft SQL Server. There are other open-source cloud computing platforms like MySQL. The market for DBaaS and cloud databases is expanding significantly as a result of the advent of autonomous databases. This is due to its capability to automate common database chores including database optimization, security, backups, and upgrades using machine learning.
The automation of data analytics has also spread its use across all industries, supporting the expansion of the DBaaS and cloud database markets. In order to enable end-to-end automation for provisioning, change management, updates, security, availability, performance, and error prevention, autonomous data models were designed, which leveraged AI and machine learning techniques. One of the security issues preventing the DBaaS and cloud database business from expanding is data breach. Because of security flaws, data theft or breaches have a financial cost and damage an organization’s brand. Therefore, security lapses expose a business to a range of data privacy issues.
Scope of the Report:
• The report analyses the Cloud Database and DBaaS Market by Value (USD Billion)
• The report presents the analysis of Cloud Database and DBaaS market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
• The report presents the analysis of Cloud Database and DBaaS market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
• The report analyses the Cloud Database and DBaaS Market by Database Type (SQL, NOSQL).
• The report analyses the Cloud Database and DBaaS Market by Deployment Model (Private Cloud, Public Cloud, Hybrid Cloud).
• The report analyses the Cloud Database and DBaaS Market by Enterprise Size (Large, SMEs).
• The report analyses the Cloud Database and DBaaS Market by End-use (BFSI, Telecom & IT, Manufacturing/Industrial, Healthcare & Life Sciences, Government, Others (Media & Entertainment, Retail, Energy, etc.)).
• The Global Cloud Database and DBaaS Market has been analysed by countries (United States, Canada, Mexico, Germany, United Kingdom, Italy, China, Japan, India, Australia.
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Cloud Database and DBaaS Type, by End-use.
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include are Microsoft Corporation, SAP SE, Tencent Holdings Ltd., Alibaba Group Holdings Ltd., Oracle Corporation, Amazon.com, Inc., Nutanix, Inc., IBM Corporation, MongoDB, Inc., Teradata Corporation.
Read the full report: https://www.reportlinker.com/p06472417/?utm_source=GNW
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