The Database Automation Market size is estimated at USD 2.35 billion in 2024, and is expected to reach USD 6.99 billion by 2029, growing at a CAGR of 24.38% during the forecast period (2024-2029).
The increasing volume of data across industries, the need to automate redundant database management processes, automated testing solutions, and the growing need for faster speed to market is expected to grow the demand for database automation across industries. However, the need for human intervention when it comes to data modeling and schema generation might hinder growth.
The database automation market is moderately fragmented owing to the presence of big players in the market and intense competition. The players in the market are adopting strategies such as partnerships and acquisitions to offer the best solutions to the customers and gain a competitive advantage. Factors such as high investment, the presence of established players, and continuously evolving technology act as barriers for new entrants in the market.
In October 2022. Oracle and HSBC launched a strategic partnership to hasten the bank's digital transformation. By the multi-year contract, HSBC was to modernize and move a few database systems to Oracle Exadata Cloud@Customer, a cloud computing platform provided as a managed infrastructure service in HSBC's data centers. The deployment was likely to aid in maintaining and scaling the bank's vital systems and services.
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