Cloud Database Market – Global Industry Analysis and Forecast (2023-2029)

The Cloud Database Market was valued at USD 10.13 Billion in 2022, and it is expected to reach USD 47.93 Billion by 2029, exhibiting a CAGR of 24.85 % during the forecast period (2023-2029)

Global Cloud database is a service that stores and manages various forms of data of an enterprise or a group of enterprises. Cloud databases are a good fit for businesses that need quick and convenient access to databases at all times. MySQL, Oracle, IBM DB2, and Microsoft SQL Server are some of the most well-known cloud platforms and cloud service providers. Additionally, open-sourced cloud platforms like MySQL are available. NoSQL databases, often known as non-relational databases, don't use a table model. The three primary service types offered are infrastructure-as-a-service (IaaS), platforms-as-a-service (PaaS), and software-as-a-service (SaaS). There are four main types of cloud platforms available: private, public, hybrid, and multicolours.

According to the study, only 5% of databases will ever be evaluated for repatriation to on-premises by the end of 2022, with 75% of all databases being deployed or migrated to cloud platforms. The SaaS model and databases used for analytics will be substantially to blame for this trend.

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Cloud Database Market Dynamics:
The MMR report covers all the trends and technologies playing a major role in the growth of the cloud database market over the forecast period. It highlights the drivers, restraints, and opportunities expected to impact the market growth during 2023-2029.

Database as a Service (DBaaS) is Being Used Widely

Cloud databases remove the need for physical hardware and enable more rapid and affordable application development. Additionally, DBaaS systems include benefits including immediate scalability, performance assurances, failover support, dropping pricing, and specialised knowledge. The need for servers and DBaaS has dramatically expanded with the growth of cloud computing. Particularly, the advantages of DBaaS service, such as cheaper infrastructure and database licencing costs, are having an effect on the growth of the cloud database market, which in turn is boosting the growth of the cloud database industry.

Adoption of Cloud Computing

The IT industry has gained new dimension thanks to cloud computing, and businesses are choosing to use cloud services rather than spending a tonne of money on building their own database infrastructure. With the development of computers and cloud computing, the cloud database is rapidly gaining ground in the IT industry. Companies choose and use it because of its many benefits because it offers unmatched services in an extremely cost-effective way. Technology has changed consumer behaviour and company practises, leading more people to shop online and rely on it to save time. This shift in the industry has given businesses the opportunity to consider the quickest approach to conduct online transactions. They choose to use a cloud database since it allows them to quickly access the information that is kept there.

Growing Demand for Large Amounts of Data Storage

A user's storage capacity automatically rises when it approaches its limit. The user benefits because less effort is spent future data storage demands and less money is spent on capacity that is not needed. To allow transactions while upholding strong consistency and high availability across regions and continents, a scalable database service called Cloud Spanner was developed. Strong listing consistency that the cloud spanner offers users reduces the possibility of missing files among a large volume of data. Furthermore, cloud storage with No SQL implementation provides cheap and easy data access from anywhere in the world, which promotes market expansion. The popularity of cloud databases powered by SQL has accelerated due to the rise of cloud computing and will continue to increase.
Cloud Database Market Trends:
The market for cloud databases is expected to be influenced by the rising demand for an effective business continuity plan in case of an emergency. Businesses may guarantee dependable disaster recovery and backup solutions with a cloud database without the burden of configuring disaster recovery and backup solutions on a physical device.

For many companies, developing intricate disaster recovery strategies can be expensive, and data backup takes time. Data stored in the cloud is replicated among servers, ensuring that information is swiftly backed up in the event of a server failure. Being able to quickly restore data after a failure minimises website downtime and productivity loss.

A significant factor driving the global cloud database market forward is the increasing popularity of cloud-based services in a number of end-use sectors, particularly in developed countries. Cloud databases are also being adopted by non-traditional industries like social networking and online music retailers, which is expected to drive the growth of the global database market over the course of the forecast period.

Using cloud computing to maintain and manage your IT systems could be more cost-efficient. By using the services of their cloud computing service provider rather than investing in expensive systems and equipment, organisations can save money. Additionally, to save money, you can scale back your database cluster when usage is low.

Cloud Database Market Restraints Factors:

Privacy concerns for the data stored over the cloud can be seen as a factor restraining the growth of the cloud database market over 2022-2029. Because the service provider can access the data stored on the cloud at any moment, cloud computing may raise privacy issues. Additionally, the corporation has the ability to unintentionally, purposefully, or even delete the saved information. Additionally, even without a warrant, cloud service providers may share the data with third parties for law and order needs. Furthermore, consent is given in the privacy policy that consumers accept prior to using the cloud service. Therefore, the absence of privacy, which causes low user trust levels, is a significant impediment to the adoption of cloud databases and a major factor influencing market growth.
Cloud Database Market Segment Analysis:
Based on Organization Size, Large Enterprises segment dominated the global Cloud database market with a revenue share of more than 52.95% in 2022. Large enterprises are increasingly choosing private cloud databases built on No SQL implemented storage, which ensures security and offers additional advantages like less complicated infrastructure configuration and administrative burdens. To create their cloud-based apps and solutions, businesses can leverage the cloud virtualization solutions, tools, and databases. The market will be further stimulated by the expanding use of databases as virtual image machines. By 2022, 84% of enterprise workloads, according to Forbes, will be in the cloud, opening up a wide range of prospects for the cloud database market. Additionally, it was stated that 31% of all IT funds were given to cloud computing in 2022 alone, which helped to increase market share.

By End Users, in 2022, the IT and Telecom segment acquired the highest revenue share in the cloud database market. The benefits of cloud computing, including its great scalability, low cost, and ability to be reached through a cloud platform, have led to its widespread deployment in the IT sector. In addition, the adoption of databases as servers and the rising need for IoT are boosting the total IT industry. In addition to these elements, the use of cloud digital databases lowers operational expenses and IT complexity. Additionally, it aids in the creation of virtual machine images. In order to increase the market for No SQL implemented storage in DBaaS solutions over the course of the forecast period, big data management's use in BFSI applications is also analyzed.
Cloud Database Market Regional Insight:
In 2022, North America dominated the global market with a revenue share of over 37.5%.

North America is expected to become a highly lucrative market for cloud databases Over 2022-2029. Companies in the United States take priority digital transformation, and they are frequently seen as early adopters of cutting-edge technologies like the Internet of Things (IoT), additive manufacturing, big data analytics, connected industries, AI, augmented reality (AR), machine learning (ML), and virtual reality (VR), as well as the newest telecommunications technologies like 4G, 5G, and LTE. The continued adoption of cutting-edge technology by American corporations is encouraging for future expansion. This area is anticipated to maintain its position in the market thanks to the presence of various suppliers including Microsoft Corporation, Oracle Corporation, Amazon.com Inc., and International Business Machines Corporation as well as a higher rate of adoption of new technologies.

The APAC is expected to register a CAGR of 25.2% during the 2022-2029. The advent of local players like Alibaba Group and the rapid rise of China and India both contributed to the expansion of the regional market. Making large investments in the manufacturing and IT sectors through programmes like Make in India has created demand for the country's cloud computing business.

Additionally, in order to meet the objectives of the governments regarding data sovereignty, hyper-scale cloud service providers like Microsoft Corporation, Amazon.com Inc., and Google LLP are building data centers in regions like Thailand and Indonesia. In the market for cloud databases, China is also expected to exhibit significant growth potential. The market for cloud databases in China is projected to expand gradually with a CAGR of 13.3% over the forecast period. The regions streamlined government laws and technological improvements are probably what will propel the market for cloud databases.

The competitive landscape section in the cloud database market offers a deep dive into the profiles of the leading companies operating in the global market landscape. It offers captivating insights on the key developments, differential strategies, and other crucial aspects about the key players having a stronghold in the cloud database market. For example, in May 2022, Barco decided to use Salesforce to improve the partner, customer, and employee experience as well as set up the business for expansion. Additionally, in October 2020, Microsoft Corporation joined forces with ZEISS Group to use data solutions to improve manufacturing quality and medical care. In accordance with this cooperation, ZEISS Group intended to use Microsoft Azure as its cloud platform in order to give digital experiences to its German manufacturers, quickly adapt to changing market conditions, and boost overall productivity and efficiency.

Cloud Database Top Players:



Companies
Description


Microsoft
Microsoft also continues to expand the database product portfolio and capabilities offered as part of its Azure cloud.


AWS
AWS currently leads all competitors on product breadth, with a total of 15 different database engines


Google
Google's growing suite of DBaaS products highlights its keen interest in supporting the data management needs of businesses.


Oracle
Oracle's DBaaS product line also includes the multimodal Oracle NoSQL Database Cloud Service and MySQL HeatWave, a high-performance version of Oracle's open source relational database that's designed to handle both analytics and transaction processing applications.



Scope of the Report:
The MMR report provides a comprehensive overview of the major revenue-generating segments and the accompanying data. The study contains a good amount of textual and graphical illustrations that demonstrate how the market size has changed over time. A year-over-year rise is included, as well as an estimate and representation of the total growth for the years 2022–2029. Growth is anticipated to be achieved during the predicted period thanks to strategic coordination amongst ecosystem actors. Market participants' investments are also predicted to boost output.

The profiles of the top global companies are offered; the market competition and the percentages of the market that well-known companies have been carefully investigated and calculated. Detailed company profiles are included in this research, along with an overview, a list of services provided, financial and SWOT analysis, a strategy employed, and significant recent developments. The reader will be better prepared to make critical business decisions after reading this study.

The report's reader can use it to help make important decisions on international expansion, the introduction of new products, and other issues. The analysts were able to pinpoint the common trends in well-known nations throughout every region by looking at both the vendors' and the customers' views.
Cloud Database Market Scope: Inquire before buying



Cloud Database Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 10.13 Bn.


Forecast Period 2023 to 2029 CAGR:
24.85%
Market Size in 2029:
US $ 47.93 Bn.


 Segments Covered:
by Deployment Model
Public cloud
Private cloud
Hybrid cloud


by Organization Size
Small and Medium Enterprises
Large Enterprises


by Type
Database Application Builder
Data Scaling and Replication
Backup and Recovery
Database Encryption
Others


by End-User
BFSI
Retail
Healthcare and Life sciences
IT and Telecom
Education
Government & Public Sector
Others



Cloud Database Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Cloud Database Market Key Players
1. Google (US)
2. Microsoft (US)
3. AWS (US)
4. IBM (US)
5. Oracle (US)
6. MongoDB (US)
7. EnterpriseDB (US)
8. OpenStack (US)
9. Redis Labs (US)
10. Rackspace (US)
11. Teradata (US)
12. CenturyLink (US)
13. Neo4j (US)
14. DataStax (US)
15. TigerGraph (US)
16. MariaDB (US)
17. MemSQL (US)
18. Rackspace US, Inc. (US)
19. Salesforce.com, Inc. (US)
20. Intuitive.Cloud (US)
21. SAP (Germany)
22. MariaDB Corporation (Ireland)
23. Tencent (China)
24. Alibaba Cloud (China)
25. RDX (India)

Frequently Asked Questions:

1] What segments are covered in the Global Market report?
Ans. The segments covered in the Market report are based on Deployment Model, Organization Size, Type and End Users.

2] Which region is expected to hold the highest share in the Global Market?
Ans. North America region is expected to hold the highest share in the Market.

3] What is the market size of the Global Market by 2029?
Ans. The market size of the Market by 2029 is expected to reach USD 47.93 Bn.

4] What is the forecast period for the Global Market?
Ans. The forecast period for the Market is 2023-2029.

5] What was the market size of the Global Market in 2022?
Ans. The market size of the Cloud Database Market in 2022 was valued at USD 10.13 Bn.