Cloud database Market Forecasts to 2028 – Global Analysis By Organization Size (Large Enterprises, Small and Medium Businesses ), Type (Database Encryption, Database Application Builder) and By Geography

Cloud database Market Forecasts to 2028 – Global Analysis By Organization Size (Large Enterprises, Small and Medium Businesses ), Type (Database Encryption, Database Application Builder) and By Geography

According to Stratistics MRC, the Global Cloud database Market is accounted for $16.62 billion in 2022 and is expected to reach $44.19 billion by 2028 growing at a CAGR of 17.7% during the forecast period. Database services can be provided on premises. It is used to store and manage different forms of information generated by a company. Database is appropriate for organizations that require instant access to database services low cost, low safeguarding and easy scalability options. On-demand services are known as cloud-based databases, which is gaining recognition among several organizations. Service providers offer end to end solutions, which help organizations focus on their core business areas.

In Asia-pacific, great strides are being made in digital economy. But it is also causing more threat-related opportunities. According to Cisco, companies receive 6 threats every minute in APAC and 51% of all cyber-attacks resulted in a loss of more than USD$1 million. Enterprises can use the cloud virtualization solutions, tools and databases to develop their cloud based applications and solutions. The rising usage of databases as a virtual image machine will further drive the market. Forbes has stated that 83% of enterprise workloads will be in cloud by 2020 thereby creating a wide range of opportunities for the Cloud Database Market. It has also stated that in 2019 alone, 30% of all the IT budgets were allocated to the cloud computing thereby contributing to the market share. However small and medium scale enterprises are analyzed to have highest growth rate during the forecast period 2021-2026.

Market Dynamics:

Driver:

Increasing data storage requirements

Storage capacity automatically scales up if the user is near its limit. This helps the user by saving the time that might be wasted for future data storage estimation or spending money on capacity until needed. Supporting transactions, maintaining strong consistency and high availability across provinces and continents a scalable database service called Cloud Spanner was built. The cloud spanner provides the customer with strong listing consistency that reduces the probability of missing files amid a huge pile of data. Moreover, No SQL implemented storage in the cloud ensures affordability, and the data can be easily accessed from anywhere around the world thereby boosting the market growth. The rise of cloud computing has driven the adoption of SQL-based cloud databases which will propel the market.

Restraint:

Safety of the data stored on cloud

A data breach is among one the security concerns that hinder the growth of the market. Data theft or breaches have financial repercussions and negatively impact an organization's reputation, owing to security vulnerabilities. Thus, security breaches make a company vulnerable to various data privacy concerns.

Opportunity:

Increasing demand for Database as a service

Cloud Database eradicates physical infrastructure and provides faster time to application development at a lower cost. Moreover, DBaaS solutions provide benefits including instantaneous scalability, performance guarantees, failover support, declining pricing, and specialized expertise. With the rise in cloud computing the demand for servers and DBaaS has significantly increased, primarily DBaaS provision benefits including lower database licensing and infrastructure costs and so on are impacting the rise of the demand for DBaaS market thereby elevating the growth of the Market.

Threat:

High cost

High costs associated with deployment and use of cloud based services is a major factor restraining growth of the market.The initial cost of hosting services for your database deployments can be lower than growing business's existing servers. But as service needs grow, costs can rise – sometimes quite sharply. One of the powerful aspects of cloud hosting databases is the ability for business to start with just the services it needs, but overprovision these needs as this could mean higher costs.

The industries that were opened up as vital services failed to generate the cloud database and DBaaS market development that was required. Due to the distant nature of industry activities, there was an increase in the sales of cloud databases and DBaaS.In addition, to preserve business continuity, enterprises are implementing remote working modes and cloud computing services as a result of the coronavirus illness (COVID-19) outbreak and lockdowns enacted by governments in several nations. This is fueling demand for cloud database and DBaaS around the world, which allow for remote document interchange.COVID-19 also continued to be a significant issue for economies around the world, as indicated by a year-over-year reduction in exports in the United States between April 2020 and April 2021, as well as an increase in imports during the same time period. The cloud database and DBaaS market are attempting to recoup its minor losses.Despite this, it means that the Healthcare/ICT/Chemical industries are likely to be directly affected, resulting in big demand for cloud database and DBaaS.

The large enterprisessegment is expected to be the largest during the forecast period

The large enterprises segment is expected to be the largest during the forecast period. The trend of digitalization has been increasing extensively among large enterprises. The growing connectivity of bandwidths and mobility trends can be seen more among large enterprises, owing to the presence of a huge workforce. The increasing demand for employees to access computing resources and applications from anywhere and at any time has made it complex for enterprises to store and manage their data. Large enterprises also generate huge amounts of critical business data regularly. Hence, it has become important for them to store and manage their data and avoid the redundancy of data. Large enterprises in the Banking, Financial Services and Insurance (BFSI), telecom and Information Technology (IT), consumer goods and retail, and manufacturing verticals cannot afford to lose customers due to network issues. These enterprises, therefore, are opting to deploy cloud database services. Organizations are expected to adopt private and hybrid cloud deployments, as these deployment modes have an increasing penetration in the cloud computing landscape and can help organizations serve their clients by delivering better service quality.

The Banking, Financial Services, and Insurance (BFSI)segment is expected to have the highest CAGR during the forecast period

The Banking, Financial Services, and Insurance (BFSI) segment is expected to have the highest CAGR during the forecast period, as it is one of the largest data-centric industries generating a high volume of data at a rapid pace.The rising focus on automated teller machines (ATMs), electronic transactions, call centers, credit cards, and mobile-based sources is one of the key factors resulting in enormous data generation. Hence, the vertical is increasingly deploying the cloud database as a service technology to not only access, manage, store, and modify data for further processes but also ensure seamless execution of transactions. These factors are, thus, propelling the growth of the market in the BFSI sector.

Region with highest share:

North America is projected to hold the largest market share during the forecast period. The growth can be accredited to the presence of large cloud database providers based in the US and Canada regions such as Google, Oracle, and Amazon, among others. Additionally, increasing investments in the development of cloud technology is another crucial factor contributing to the overall market growth. Besides, the market share of the Asia Pacific region is estimated to proliferate in the forecast period owing to the increased adoption of cloud computing technologies in various sectors.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the increasing adoption of IoT and the major shift of the numerous enterprises towards the cloud computing. Besides the significant rise in the investments towards the shift of enterprises and the use of IoT in various applications including smart homes, roads and so on are boosting the Cloud Database Market.In the APAC region, there is a tremendous demand for cloud database solution and services due to the massive and continuous growth of data through various channels, such smartphones and Internet of Things (IoT) devices.

Key players in the market

Some of the key players profiled in the Cloud DatabaseMarket include Microsoft Corporation, Amazon Web Services, IBM, Google Inc., Alibaba, Oracle Corporation, SAP AG, CSC (Computer Science Corporation), Citrix Systems, Dell, Inc., Cisco Systems, Hewlett Packard Enterprise, Vmware, Inc., Rackspace, Salesforce.Com, Century Link Inc., Tencent, Teradata, Cassandra and Couchbase.

Key Developments:

In April 2019: Google launched an end-to-end AI platform. With this launch, new features such as AutoML Tables and AutoML Video Intelligence (now in beta) were added. By taking existing tabular data from Google’s BigQuery database, AutoML Tables enable users to automatically create a model that would predict the value of a given column.

In February 2019: AWS collaborated with Lyft. Lyft leveraged AWS services, such as ML, database, and analytics. Lyft relies on Amazon DynamoDB, which delivers high performance to assists mission-critical workloads including ride-tracking system.

Deployment ModelsCovered:
• Database as a service (DBaaS)
• Infrastructure as a service (IaaS)
• Platform as a service (PaaS)

Service Models Covered:
• Virtual Private Cloud
• Hybrid Cloud
• Public Cloud
• Private Cloud

Organization Sizes Covered:
• Large Enterprises
• Small and Medium Businesses

Services Covered:
• System and Network Integration
• Deployment and Maintenance
• Training and Consulting Services

Databases Covered:
• Structured Query Language (SQL)
• Not only Structured Query Language (NoSQL)

Software’s Covered:
• Backup and Recovery
• Database Application Builder
• Data Scaling and Replication
• Database Encryption
• Other Software’s

End Users Covered
• Government
• Professional Services
• Banking, Financial Services, and Insurance (BFSI)
• Academic
• Hospitality
• Telecommunication
• Healthcare and Life Sciences
• Other End User

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements