Database As A Service (DBaaS) Market - Forecasts from 2024 to 2029

Database As A Service (DBaaS) Market - Forecasts from 2024 to 2029

The database as a service (DBaaS) market is anticipated to grow at a compound annual growth rate (CAGR) of 21.32% over the forecast period to reach US$84.983 billion by 2029, increasing from US$21.964 billion in 2022.

Database as a service (DBaaS) is among the quickest growing Software as a Service (SaaS) markets and major factors such as the growing shift from on-premise databases towards virtual database management have increased the adoption of cloud computing in organizations which is creating the overall market growth. Moreover, providing virtually unlimited growth potential and improving the overall administration & routine database management tasks are additional perks provided by such technology which has further led to its upfront investment

With the growing organization's workloads, the demand for efficient data management & storage solutions has propelled over the years. According to the Linux Foundation’s “Data and Storage Trend 2022”, data analytics & database management were the top production workloads in organizations, where data analytics accounted for 52% and database management 46%.

Rising demand for innovative data management and analytics by organizations

In today's modern world where technological innovations and advancements are witnessing a significant boom, and companies are investing in strategies to promote seamless integration of such technologies in their operations. Due to the implementation of such an approach, the data volume and production workload have also increased over the years, which is creating demand for innovative data management solutions.

Furthermore, the recent growing trend of AI adoption virtual data, and hybrid cloud environment has also stimulated the overall market expansion as the requirement for IT infrastructure that meets the varied demands of developers, and IT architects is also expected to increase. According to the Linux Foundation’s “Data and Storage Trends 2022” report, it stated that in 2022 about 49% of them believe that AI-drive data management is an effective database management solution and is expected to show significance over the next 2-4 years.

The Database as a service (DBaaS) market for the cloud segment is projected to grow

The adoption of cloud database globally in the past few years has increased at a significant pace. When a database as a service is being provided using a cloud computing platform, it is referred to as a cloud database. The relational cloud database allows users to organize data in predetermined relation so that it is arranged in a logical correlation.

Furthermore, the recent advancement in cloud computing propels the rise of cloud databases worldwide. Also, the adoption of cloud-based data storage solutions is growing at a rapid pace as more and more enterprises are migrating to the cloud. For instance, according to the Flexera State of the Cloud Report 2023, the public cloud service adoption by organizations related to DBaaS(relational) resulted in 48% of the companies currently using DbaaS whereas around 21% responded that they are experimenting stage, and 10% companies stated that they plan to use in the coming years. This highlights lucrative avenues for larger penetration of DBaaS till the forecast period.

According to the data from the Flexera report, the adoption of multi-cloud services by organizations accounted for around 87% in the year 2023. This highlights the favorable opportunity for the expansion of multi-cloud services boosting the growth of the database-as-a-service (DBaaS) market with larger cloud-based deployment in the upcoming years.

Key Market Developments:

In 2022, clickhouse Inc. announced the launch of Clickhouse Cloud which is a cloud-based database that assists in accelerating analytics and insights for modern digital enterprises. The company also allows users to develop business-critical applications and analyze the database using the clickhouse cloud.
In 2022, StarRocks launched its first managed database-as-a-service (DBaaS) that allows users to undertake real-time analytics using the StarRocks Cloud. The cloud services offered with be priced according to the pay-as-you-go model based on data consumption.

Key Players:

IBM Corporation is a leading technology company globally. The company provides hybrid cloud and storage solutions to address various unique business requirements. It offers Database-as-a-Service (DBaaS) optimized for open-source databases such as MongoDB, EDB PostgreSQL, MySQL, and MariaDB among others.
Microsoft Corporation is a multinational corporation and technology company that offers a comprehensive range of database services such as fully managed database services with Azure SQL. The company is focusing on bringing innovations to deliver intelligent, relational cloud database services to meet the needs of all diverse users.
Amazon.com, Inc. provides various services catering to the DBaaS market such as Amazon aurora global database for globally distributed applications, thereby allowing a single relational database to serve multiple regions.

Segmentation:

By Type:

SQL
NOSQL
By Deployment
Cloud
On-Premise
By Enterprise Size
Small and Medium
Large
By Industry Vertical
BFSI
Healthcare
Retail
IT and Telecom
Manufacturing
Media & Entertainment
Others
By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
France
Italy
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
China
Japan
India
South Korea
Taiwan
Thailand
Indonesia
Others