Cloud Database Management Systems Market - Forecasts from 2023 to 2028

The cloud database management systems market is projected to grow at a CAGR of 16.62% from US$39.12 billion in 2021 to US$114.736 billion in 2028.

Cloud database management is a method of managing data across cloud platforms, either in addition to or instead of on-premises storage. Using the cloud as a data storage layer can help with restoration, lengthy preservation, and incident management. Resources can be acquired as needed using cloud database management. A cloud database is a specific variant of a database created to work in a blended or open cloud infrastructure and help an organization manage, analyze, and store data. Cloud databases may be made available as managed databases-as-a-service (DBaaS) or may be set up on a virtual machine (VM) hosted in the cloud and self-managed by institutional information system personnel.

The ability to buy resources on demand is a benefit of cloud database management. Additionally, data can be shared within on-premises storage and across public and private clouds. The role of a traditional data management system is assumed by a cloud-based data management system that has been adjusted for web requirements. Although some platforms can manage and use data in both on-premises and cloud contexts, cloud database management takes into account the possibility that data stored in each location may be governed by entirely different sets of rules. Cloud data storage has its own security and integrity standards. Having management in place created for the cloud's specific requirements is crucial as traditional data management techniques might not apply to the cloud.

The technological and financial advantages offered by cloud databases have significantly fuelled the growth of the cloud database management systems market.

With the possibility to retrieve the data they require from any location, employees can work more collaboratively due to cloud database management. Modern cloud solutions, which are sometimes thought of as more secure than on-premise deployments, are timely supported by automated security upgrades and patches owing to cloud database management systems. Cloud management systems are far more cost-effective than a typical data management setup as they do not require significant upfront equipment or setup expenses. The system also allows users to increase and decrease the scale in accordance with their needs and requirements, just like any other cloud system. The improved customization of cloud database management systems ensures that the organizational requirements can be taken into account while creating and customizing cloud database management services. Users can also set up these systems to work on-site, cloud-based, or a combination of both types of data.

Recent Developments

In January 2023, The United States Postal Service (USPS) signed a three-year contract with Veritas Technologies to further bolster its legislative, data compliance posture, and eDiscovery capabilities using Veritas Enterprise Vault, Merge1, and eDiscovery Platform. The deal might be worth up to US$70 million if the contract is extended for a further seven years. The USPS intends to adopt automatic data storage and preservation across all on-premises and cloud-based data sets, including cloud collaboration tools, using Veritas' technology. This will enable the company to determine the location of each data asset's resilience in the environment. Instead of relying on separate data management systems, the USPS is putting itself in a better position to defend against threats to consumer data by investing in a unified data management platform that improves data resilience throughout the cloud. By capturing and archiving data, whether it's on-premises or in the cloud, Veritas Enterprise Vault will enable USPS to simplify operations. Compliance officers and legal professionals can carry out security breach probes and react to regulatory orders to locate critical resolution files using the Veritas eDiscovery platform.

In September 2022, Kafkawize Technology Solutions was acquired by Aiven Ltd., a firm that offers managed cloud versions of open-source data management solutions. Aiven received US$210 million in capital a few months prior to the acquisition from a group of significant investors that included BlackRock, Salesforce Ventures, and others. The Series D fundraising deal valued Aiven Ltd. at over US$3 billion. The same-named open-source program is offered by Kafkawize. The program facilitates the adoption of Apache Kafka, an open-source platform that aids businesses in transferring data among various applications.

The Asia Pacific region holds a substantial market share in the cloud database management systems market.

Based on geography, the cloud database management systems market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. Due to the existence of significant countries and influential businesses that encourage financial expenditures in R&D initiatives and the production of revolutionary innovations associated with the cloud data management services market, North America accounts for a sizeable portion of the global market for cloud database management systems. Additionally, the region's growing number of small firms has contributed to the market's steady expansion. The growing demand for CMS across numerous industrial verticals to reduce costs and boost staff productivity is also anticipated to result in a significant increase in the Asia-Pacific cloud database management systems market during the projected period.

Market Segmentation:

By Solution

• Single Cloud
• Multi Cloud

By Enterprise Size

• Small and Medium
• Large

By Industry Vertical

• BFSI
• Healthcare
• Retail
• IT and Telecom
• Manufacturing
• Education
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East And Africa
• Saudi Arabia
• UAE
• Israel
• Other
• Asia Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Taiwan
• Others