Cloud Database and Database as a Service (DBaaS) Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Cloud Database and Database as a Service (DBaaS) Market: Snapshot
The latest corporate survey reports predict that the global cloud database and database as a service (DBaaS) market will display and excellent growth and record an admirable CAGR of 15.7 % during the forecast period of the study i.e. 2021 to 2025. It also explains that the global cloud database and database as a service (DBaaS) market was initially evaluated at US$ 12 billion in the base year of the study i.e. 2020.
The studies also predict that the global cloud database and database as a service (DBaaS) market will develop to cross the evaluation of US$ 24.8 billion at the end of the forecast period in 2025. The two major types of databases observed within the global cloud database and database as a service (DBaaS) market include NoSQL as well as SQL databases.
The solutions, services, and components offered by the manufacturers, software developers, vendors, and players operating in the global cloud database and database as a service (DBaaS) market are used across various notable end use industries, such as telecomm and IT, healthcare and life sciences, banking, financial institutes, and insurance or BFSI, and manufacturing, among others.
One of the most prominent drivers for the growth and expansion of the global cloud database and database as a service (DBaaS) market is the constantly increasing requirement for the self-driving cloud databases.
Furthermore, the consistent and ever rising volume of data generation, owing to increasing digitalization across almost every industry vertical, is also bolstering the demand within the global cloud database and database as a service (DBaaS) market. Additionally, the increase in the production of data base workload as well as the development of the NoSQL databases is also creating lucrative opportunities for growth in the global cloud database and database as a service (DBaaS) market.
Users have a lot to gain from database as a service models, and the cloud computing variants of these are the ones that can provide users with easy access to large databases at nearly any given time and location. Accessing this database does not require the used to physically carry the database, or have to set up any additional hardware or software. The service model ensures that all tasks within the administrative and maintenance sections can be carried out by the service providers, thereby allowing a user to free up resources, physical space, as well as time. Clients may or may not be able to control administrative duties of a database, depending on the service model being used.
DBaaS is a form of secondary service provided by cloud computing services providers and is strongly associated with XaaS. It may therefore be offered by companies under a number of options from the SaaS platforms they hold. DBaaS also provides a highly structured approach towards the collection, categorization, and maintenance of data for a user or a group of users. Most DBaaS providers offer solutions that are far cheaper than in-house database management solutions. They commonly offer their services and payment models based on either capacity of storage required, the use of features, or both.
The relational form of database ruled the information technology or IT sector in the last few decades. The last few years have witnessed a paradigm shift in the database management systems where dedicated servers were eventually replaced with dedicated storage server networks. With the ubiquitous usage of internet, cloud databases such as SimpleDB and Sherpa have gained popularity in the last couple of years. Storage plays an important role in data centers. In a traditional networked data storage, the data is stored in a single dedicated server whereas in cloud databases the respective data is stored within multiple dynamic servers.
Cloud database allows accessing of information at any point of time and from any place. Database as a service (DBaaS) allows the user to store data at a remote disk which is available through the internet. Cloud computing, the need for improved and efficient broadband facility, the advent of digital data, and shifting data storage requirements have led to the emergence of cloud database and DBaaS. Cloud databases aid in storing the colossally generated data by web based application. The cloud database and DBaaS market caters to many sectors such as government, healthcare, banking, hospitality, media and entertainment, e-commerce and insurance sector among others.
The chief driver of the growth of the global cloud database and DBaaS market is the burgeoning use of cloud service for critical data storage. Driven by numerous factors such as availability, cost saving, seamless integration, upgradation, and flexibility, increasing number of companies are transferring data on cloud. Cloud database and DBaaS provide monetary advantages over conventional storage methods. Companies from heathcare, banking and insurance sector among others are located far off and are largely dependent on their websites. Hence, such companies choose cloud storage to decrease the cost of operations and thus increase productivity. Cloud databases are progressively used in non-traditional sectors such as social networking, online music stores, and online gaming among others. Moreover, due to the growing flexibility needs and increasing data traffic, numerous government departments such as finance, insurance, and defense are adopting cloud service.
In spite of the strong growth drivers and surging trends, the major restraint for cloud database and DBaaS market is the growing criticality of data in cloud. Awareness about cloud security is comparatively low. The rising use of cloud databases have led to a rise in cloud attacks where user’s data is compromised, thus leading to identity theft. Moreover, the dearth of proper security standards for cloud database is also likely to act as a hindrance. At present, cloud platforms offer very little support for the purpose of database design related to virtual enhancement. With technological advances on boards, it is expected to provide opportunity for designing databases specific private clouds for large enterprises.
Geographically, North America is the chief revenue generator for this market closely followed by Western European countries such as Germany, France and the U.K. The dominance of North America can be attributed to the presence of large enterprises. Asia Pacific is anticipated to aggressively adopt cloud database and DBaaS solutions in the near future. This is basically due to the increasing focus by small, medium, and large scale enterprises for the purpose of improving efficiency and productivity via investment in technology.
The key players in the cloud database and DBaaS market are Microsoft Corporation, Oracle Corporation, IBM, Amazon, Google Inc, Century Link Inc, Rackspace, SAP AG and Salesforce.com among others.
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