Global Cloud Database Market – Industry Trends and Forecast to 2029

Cloud Database Market Analysis and Size

In line with the thriving global economy, the number of start-ups and fast-growing businesses is also on the rise. As the number of business establishments grows, so does the demand for effective asset management of valuable organisational assets. Furthermore, start-up companies have recently received government funding for new ventures and the development of cloud database. Small and large businesses alike continue to choose cloud database for cost-effective asset lifecycle optimization and a modular, fully scalable solution that meets organisational needs.

Data Bridge Market Research analyses that the cloud database market was valued at USD 21.84 billion in 2021 and is expected to reach the value of USD 966.53 billion by 2029, at a CAGR of 60.60% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

Market Definition

A cloud database is a service that is created and accessed via a cloud platform. Cloud database applications run on cloud computing platforms, and their services are delivered via an as-a-service model acronym, DBaaS (cloud database-as-a-service). It is a simple cloud-based platform that is in charge of storing and managing data in the cloud.

Global Cloud Database Market Dynamics

Drivers

• Rapid adoption of Database as a service (DBaaS)

Cloud databases eliminate physical infrastructure and allow for faster application development at a lower cost. Furthermore, DBaaS solutions offer advantages such as instant scalability, performance guarantees, failover support, declining pricing, and specialised expertise. With the rise of cloud computing, the demand for server and DBaaS has significantly increased. Specifically, the benefits of DBaaS provision, such as lower database licencing and infrastructure costs, are impacting the rise of the demand for DBaas market, thereby elevating the growth of the cloud database market.

• Growing need for high data storage requirements

When a user's storage capacity is nearing its limit, it automatically increases. This benefits the user by saving time that would otherwise be spent estimating future data storage needs or spending money on capacity that is not required. A scalable database service called Cloud Spanner was built to support transactions while maintaining strong consistency and high availability across regions and continents. The cloud spanner provides customers with strong listing consistency, lowering the likelihood of missing files in the midst of a massive pile of data. Furthermore, No SQL-implemented cloud storage ensures affordability, and data can be easily accessed from anywhere in the world, boosting market growth. The rise of cloud computing has accelerated the adoption of SQL-based cloud databases, which will continue to grow.

Opportunity

SQL databases are preferred over NoSQL databases for performing dynamic and complex querying and reporting. Due to its atomicity, consistency, isolation, and durability (ACID) compliance, SQL databases are well suited for transaction-oriented systems such as customer relationship management tools, e-commerce platforms, and accounting software. These factors are helping to drive the growth of the cloud database market.

Restraints

Security and privacy concerns are likely to impede the growth of the cloud database during the forecast period.

This cloud database market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cloud database market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Cloud Database Market

After the pandemic prompted lockdowns around the world, many industries were closed or not operating for an extended period of time. As a result, global demand for cloud databases and DBaaS has skyrocketed. The industries that were opened up as vital services failed to generate the necessary cloud database and DBaaS market development. The remote nature of industry activities, increases the sales of cloud databases and DBaaS. Furthermore, as a result of the coronavirus illness (COVID-19) outbreak and government lockdowns in several countries, businesses are implementing remote working modes and cloud computing services to ensure business continuity. This is fuelling global demand for cloud databases and DBaaS, which enable remote document management. COVID-19 was also a significant issue for economies worldwide, as evidenced by a year-over-year decrease in U.S. exports between April 2020 and April 2021, as well as an increase in imports during the same period. The cloud databases and DBaaS market is attempting to recoup its minor losses. Regardless, the Healthcare/ICT/Chemical industries are likely to be directly affected, resulting in high demand for cloud databases and DBaaS.

Global Cloud Database Market Scope

The cloud database market is segmented on the basis of database, model, component, organisation size, pricing model, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Database

• Structured Query Language
• Non-Structured Language

Model

• Service Model
• Public cloud
• Private cloud
• Virtual private cloud
• Hybrid cloud
• Deployment Model
• Database as a service (DBaaS)
• Platform as a service (PaaS)
• Infrastructure as a service (IaaS)

Component

• Software
• Database encryption
• Backup and recovery
• Data scaling and replication
• Database application builder
• Others
• Services
• Training and consulting service
• System and network integration service
• Deployment and maintenance service

Institution

• Banks
• Broker Dealers
• Specialty Finance
• Wealth Advisors
• Others

Organization size

• Small and medium sized enterprises
• Large Enterprises

Pricing model

• Pay-As-You-Go
• Upfront Payment
• Partial Upfront Payment
• Others

End user

• Banking Financial Services and Insurance (BFSI)
• Education
• Healthcare
• Government
• I.T. and Telecommunication
• Hospitality
• Retail
• Others

Cloud Database Market Regional Analysis/Insights

The cloud database market is analysed and market size insights and trends are provided by country, database, model, component, organisation size, pricing model, and end user as referenced above.

The countries covered in the cloud database market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America will dominate the cloud database market due to the large market share of the United States and Canada, as well as rising demand for solutions by the region's financial institutions.

Asia-Pacific will grow during the forecast period of 2022-2029 due to the expansion of the financial and banking sector.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Cloud Database Market Share Analysis

The cloud database market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cloud database market.

Some of the major players operating in the cloud database market are:

• IBM Corporation (U.S.)
• Microsoft (U.S.)
• Siemens AG (Germany)
• ANSYS, Inc (U.S.)
• SAP SE (Germany)
• Oracle (U.S.)
• Robert Bosch GmbH (Germany)
• Swim.ai, Inc. (U.S.).
• Atos S.E. (France)
• ABB (Switzerland)
• KELLTON TECH (India)
• AVEVA Group plc (U.K.)
• DXC Technology Company (U.S.)
• Altair Engineering, Inc (U.S.)
• Hexaware Technologies Limited (India)
• Tata Consultancy Services Limited (India)
• Infosys Limited (Bengaluru)
• NTT DATA, Inc. (Japan)
• TIBCO Software Inc. (U.S.)

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