The global Cloud Database and DBaaS market size is expected to grow from USD 21.3 Billion in 2023 to USD 57.5 Billion by 2028 at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period. Companies are gradually shifting away from on-premises solutions and towards cloud, DBaaS, and SaaS-based solutions that provide mobile accessibility and other intuitive services. The model's affordability addresses specific database requirements by targeting businesses of all sizes. These solutions typically provide low-cost options and rapid service deployment.
Private Cloud segment to have significant growth during the forecast period.
A private cloud is a cloud computing environment that is exclusively used by one client. Many of the advantages of cloud computing are combined with the security and management of on-premises IT infrastructure in this method. Data is kept secure and private in the private cloud thanks to internal hosting and firewalls. Additionally, it makes sure that third-party providers cannot access sensitive or operational data. Due to the ease (or the fact that private cloud is the only way) of satisfying regulatory compliance requirements, many businesses prefer private cloud over public cloud (cloud computing services delivered over infrastructure shared by multiple customers). Others opt for private clouds because their workloads involve sensitive information such as medical records, financial data, intellectual property, and confidential documents. An organization gives itself the flexibility to quickly move workloads to the public cloud or run them in a hybrid cloud (mixed public and private cloud) environment whenever they're ready by building private cloud architecture in accordance with cloud-native principles. A private cloud is a single-tenant environment, which means that only one customer has isolated access to all resources. Private clouds are frequently hosted in the customer's data center on-site. However, private clouds can also be built on rented infrastructure housed in an offsite data center or hosted on the infrastructure of a different cloud provider. The customer can manage everything themselves or outsource partial or full management to a service provider. Management models also differ. Building a private cloud enables all businesses - even those in highly regulated industries - to take advantage of many cloud computing advantages without giving up security, control, or customization.
IT & Telecom vertical to grow at the highest market size during the forecast period.
A public, private, or hybrid cloud computing platform houses a managed and organized collection of data called a cloud database. A cloud database is identical to an on-premises database that runs on a company's own data centre systems in terms of overall design and functionality. Security continues to be the biggest challenge for tech companies, just like in other sectors. Their use of cloud computing is where they veer of course. Tech companies are concentrated on cost optimization and extending their product or service offerings, whereas other industries are using the cloud to create new operational methods or processes. Unsurprisingly, tech firms are the most likely to have a written cloud learning strategy and include it in the duties assigned to their teams. And when it comes to their skill gaps, their technologists and leaders are on the same page. Cloud architecture and cloud security were identified as the top two skills gaps by both leaders and technologists.
Cloud Database and DBaaS market in Asia Pacific to grow at the highest CAGR during the forecast period.
Rising cloud database service adoption and a significant increase in enterprise data in the region's small and medium businesses are the main drivers of the market's expansion. Additionally, the expanding use of digital solutions in a number of nations, including China, Japan, and India, presents a sizable opportunity for market expansion. There are many nations and people living in the Asia-Pacific region. The population of this region makes up almost 60% of the entire world's population. Australia, Japan, China, and Singapore are some of the major nations in this region, though it is divided into different categories. Even though there are more nations on the list, these are just some of the biggest names in the region. Due to the overall negative effects of the Covid-19 pandemic on the global economy, it was only natural for this area to suffer significantly. The majority of the nations in this region had long-standing office work cultures. Their IT infrastructures were therefore created in the same manner. All of this abruptly changed when the pandemic began to devastate their sizable populations and economies. Enterprise databases are becoming more and more important as more businesses go online and adopt digital technologies like the Cloud. In the context of today's primarily data-driven world, databases are also crucial.
A lot of businesses in the Asia Pacific region have chosen Database as a Service (DBaaS) models that are powered by the cloud to give their operations the much-needed breathing room and competitive edge in this quickly changing environment. Businesses based in the Asia Pacific region responded to the pandemic similarly to the rest of the world. The only distinction is that local businesses have taken a little longer to evolve their IT infrastructures around cloud technologies.
Further, many in-depth interviews were conducted with the Chief Executive Officers (CEOs), Chief Marketing Officers (CMO), Chief Operating Officers (COOs), Chief Technology Officers (CTOs), Vice Presidents (VPs), Managing Directors (MDs), domain heads, technology and innovation directors, and related key executives from various major companies and organizations operating in the Cloud Database and DBaaS software market.
- By Company - Tier 1-35%, Tier 2-25%, and Tier 3-40%
- By Designation - C-Level Executives-25%, Directors-30%, and Others-45%
- By Region - North America-42%, Europe-25%, APAC-18%, RoW - 15%
Cloud Database and DBaaS software vendors include Google (US), Microsoft (US), AWS (US), IBM (US), Oraclev (US), Alibaba Cloud (China), SAP (Germany), MongoDB (US), EnterpriseDB (US), Redis Labs (US), Tencent (China), Rackspace (US), Teradata (US), CenturyLink (US), Neo4J (US), Datastax (US), Tigergraph (US), MariaDB (US), RDX (US), SingleStore (US). The study includes an in-depth competitive analysis of these key players in the Cloud Database and DBaaS software market with their company profiles, recent developments, and key market strategies.
Research Coverage
The research study covered inputs, insights, trends, and happenings from secondary sources, primary sources, stakeholders’ interviews, and surveys. Secondary sources include information from databases and repositories such as D&B Hoovers, Bloomberg, Factiva, and CoinDesk, among others. Primary data was fetched from supply-side industry experts who hold the chair of Chief Executive Officer (CEO), Chief Technological Officer (CTO), Chief Operating Officer (COO), Vice-President (VP) of IT, and Managing Director (MD), among others. A few of our key primary respondents are IBM, Microsoft, Oracle, among others. A few startups are also included during our primary interviews. Additionally, we have taken information and statistical and historical data from a few government associations, public sources, webinar and seminar transcripts, journals, conferences, and events.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Cloud Database and DBaaS Software market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities. The report incorporates a key section incorporating the company profiles in the market in which it has been exhaustively evaluated the vendors in terms of product portfolio offerings and business strategies followed. This will give a holistic view of the current standing of the key players in the market and the ongoing developments encompassing partnerships, agreements, collaborations, mergers and acquisitions, joint ventures, new product or service launches, and business expansions. This evaluation will help the buyers understand how the major vendors are achieving service differentiation, and buyers can understand the need gap analysis for the existing services and new services that are needed to cater to these newly developed solutions for this market. The report can help the buyers to understand major services as well as driving factors that are becoming key growth drivers of the development of buyers in these services.
The report provides insights on the following pointers.
Analysis of key drivers (Increasing digitalization of content and need for effective collaboration of corporate assets, the emergence of cloud-based delivery options, growing need for controlled access and better security of digital assets to avoid copyright issues, increasing organizational focus on digital marketing, the focus on enhancing digital experience of customers among enterprises), restraints (high upfront costs associated with implementation and integration), opportunities (emergence of AI to automate processes, infusion of advanced encryption technologies to streamline digital trading ), and challenges (fulfilling metadata requirements for enabling quick access to digitally stored assets) influencing the growth of the Cloud Database and DBaaS Software market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Cloud Database and DBaaS Software market
- Market Development: Comprehensive information about lucrative markets - the report analyses the Cloud Database and DBaaS Software market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Cloud Database and DBaaS Software market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include Google (US), Microsoft (US), AWS (US), IBM (US), Oraclev (US), Alibaba Cloud (China), SAP (Germany), MongoDB (US), EnterpriseDB (US), Redis Labs (US), Tencent (China), Rackspace (US), Teradata (US), CenturyLink (US), Neo4J (US), Datastax (US), Tigergraph (US), MariaDB (US), RDX (US), SingleStore (US) among others in the Cloud Database and DBaaS software market strategies. The report also helps stakeholders understand the competitive analysis of these market players.
Table of Contents
Companies Mentioned
- Alibaba Cloud
- ArangoDB
- AWS (Amazon Web Services)
- CenturyLink
- Cockroach Labs
- DataStax
- EnterpriseDB
- FairCom
- IBM
- MariaDB
- Microsoft
- MongoDB
- Neo4j
- Oracle
- PingCAP
- Rackspace
- RDX
- Redis Labs
- SAP
- SingleStore (MemSQL)
- Tencent
- Teradata
- TigerGraph
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 285 |
| Published | July 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 21.3 Billion |
| Forecasted Market Value ( USD | $ 57.5 Billion |
| Compound Annual Growth Rate | 22.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 24 |
