The cloud database and DBaaS market size is projected to be valued at USD 18,611.2 million in 2023 and is expected to rise to USD 69,806.5 million by 2033. The sales of cloud databases and DBaaS are anticipated to expand at a significant CAGR of 14.1% during the forecast period. Various factors propelling the demand for Cloud Database and DBaaS market are discussed below.
In order to reduce the operational costs and enhance efficiency, companies in the sectors like healthcare, banking and insurance implement cloud databases and DBaaS solutions as these companies rely heavily on their websites. Meanwhile, industries such as social networking, online music and online gaming are attracting huge demand for cloud databases and DBaaS due to the large amount of data storing and downloading.
Cost savings, accessibility, upgrading, faultless incorporation, and leanness are all motivating firms to use cloud databases in their operations. This is anticipated to boost the sales of cloud databases and DBaaS during the forecast period.
| Attribute | Details |
|---|---|
| Cloud Database and DBaaS Market Estimated Size (2023) | USD 18,611.2 million |
| Cloud Database and DBaaS Market CAGR (2023 to 2033) | 14.1% |
| Cloud Database and DBaaS Market Forecasted Size (2033) | USD 69,806.5 million |
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Businesses are seeing an insane amount of demand for cloud databases and DBaaS due to heavy rise in data storage after the pandemic. Increasing number of people started visiting different online channels such as gaming sites, music among others. Hence, the market is likely to grow significantly.
In order to comprehend and handle the insights evaluated from massive datasets, the demand of cloud databases and DBaaS among businesses is increasing. These businesses are analyzing this data to earn competitive edge in the market. Cloud database and DBaaS fulfills the demand these businesses are looking for, increasing the demand of these solutions.
The demand for cloud databases and DBaaS is also growing as moving to the cloud reduces the cost of maintaining a sprawling, continually increasing database architecture.
Physical infrastructure expenditures become obsolete, and non-peak consumption hours can be scaled down effortlessly and economically. Due to these factors, the sales of cloud database and DBaaS is anticipated to rise, contributing to the overall growth of the cloud database and DBaaS market.
Cloud database providers' built-in security capabilities improve enterprise network security, which is a key factor propelling the demand for cloud database and DBaaS solutions during the forecast period. Default data encryption, integrated identity, access management controls, and regulatory compliance tools are a few other factors responsible for growing sales of cloud databases and DBaaS solutions.
The key advantage of moving to a cloud-based database architecture from a largely on-premises database solution for many enterprises is accessibility. This is anticipated to boost the global market for cloud databases and DBaaS as the global corporate sector rises from the pandemic of 2020 with a renewed focus on remote work arrangements.
Cloud databases and DBaaS can be scaled up or down based on actual usage, as opposed to purchasing physical database capacity in anticipation of future needs that may or may not arise.
The demand for cloud databases and DBaaS is increasing since these solutions are simple to set up and less expensive, allowing businesses to develop business continuity plans that can be implemented automatically in the case of a network failure.
The sales of cloud databases and DBaaS solutions are built with disaster recovery in mind. Data is replicated between servers, allowing businesses to access information instantly, decreasing downtime and productivity. These factors combined aid in the development of cloud databases and DBaaS market share.
The demand for cloud databases and DBaaS is rising as encrypted cloud databases are significant for distributed workforces, such as remote workers and worldwide enterprises with multiple locations. As a result, the sales of cloud databases and DBaaS solutions are likely to rise.
Public cloud segment hold 43.4% market share in the year 2022. Big Data as a Service (BDaaS) can be set up using a public cloud, private cloud, or hybrid cloud. A public cloud works like regular cloud computing, where a service provider offers resources like virtual machines (VMs), applications, and storage over the Internet. These services can be free or on a pay-per-use basis.
The structured query language segment is anticipated to have a commanding share of 55.5% in the cloud databases and the DBaaS market.
For a long time, relational databases have dominated multiple verticals, providing varied mechanisms for data storage, concurrency control, and transaction.
It has also provided standard interfaces for data and reporting integration. Structured Query Language is a relational database's application program interface (API) and standard user. The SQL database allows you to access managed relational databases on demand.
In the cloud database and Database-as-a-Service (DBaaS) market, solutions are offered as components that enable organizations to build and customize their database environments. These solutions provide specific functionalities and capabilities to enhance database management and operations.
The United Kingdom cloud database and DBaaS industry are helping to stabilize and see vital prospects thanks to important government regulations and funding to support research and development projects in the ICT industry.
Leading companies are investing hugely to incorporate AI into their products across a range of industries. These industries are telecommunications, consumer electronics, and automobiles, which are significant elements affecting sector sales.
The United States and Canada are likely to influence North America’s cloud databases and the DBaaS market with a CAGR of 13.8%. The region's businesses are the most forward-thinking in terms of AI, machine learning, and cloud adoption, propelling the cloud databases and DBaaS market's growth.
China is also anticipated to show promising growth potential in the cloud databases and DBaaS market. During the forecast period, China's cloud databases and DBaaS market is anticipated to expand steadily with a CAGR of 13.4%. Technological advancements and smooth government regulations in the region are likely to be the driving factors in the cloud databases and DBaaS market.
In India, the potential of cloud database and DBaaS is quite high as the market is growing rapidly at 15.4% CAGR. The country is developing rapidly in the market due to its growing IT industry, healthier business environment and increase in digitization. These factors have empowered the adoption of cloud-based database solutions.
The cloud database and database-as-a-service market is fragmented due to the presence of numerous solutions providers including global and regional companies. Hence, the companies in are working to grow their global footprint by making strategic partnerships, collaborations and product launches.
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| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 14.1% from 2023 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and Volume in Units and F-CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | Database Type, Component, Service, Vertical, Organization Size, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | Google LLC; Nutanix; Oracle Corporation; IBM Corporation; SAP SE; Amazon Web Services, Inc.; Alibaba Cloud; MongoDB, Inc.; Microsoft Corp.; Teradata; Ninox Software GmbH; DataStax |
| Customization & Pricing | Available upon Request |
The market is estimated to secure a valuation of USD 18,611.2 in 2023.
Google LLC, Nutanix, and Oracle Corporation are key Cloud Database and DBaaS market players.
The global market size is to reach USD 69,806.5 million by 2033.
The growth potential of the Cloud Database and DBaaS market is 14.1% through 2033.
Businesses in the region are exceptionally forward-thinking in terms of AI, machine learning, and cloud adoption, encouraging the growth of the cloud databases and DBaaS market.
The public cloud sector held a market share of about 43.4% in 2021.
| Market Value (2022) | USD 41.54 Billion |
|---|---|
| Market Anticipated Value (2032) | USD 120.10 Billion |
| Market Projected CAGR (2022 to 2032) | 11.20% |
| Estimated Market Value (2022) | USD 2.6 Billion |
|---|---|
| Projected Market Value (2032) | USD 5.4 Billion |
| CAGR% (2022 to 2032) | 7.3% |
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