Cloud-based databases are an integral part of the broader cloud computing ecosystem, enabling organizations to store, manage, and access their data through remote servers. These databases are hosted on cloud platforms and provide a wide array of benefits compared to traditional on-premises databases. “The global Cloud-based Database market size was valued at USD 7618.33 million in 2023 and is expected to expand at a CAGR of 25.02% during the forecast period, reaching USD 27785.49 million by 2030.
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Advantages of Cloud-based Databases
Scalability and Flexibility
One of the key advantages of using Cloud-based databases is their scalability. Businesses can effortlessly scale their database resources up or down according to their needs, ensuring cost-efficiency and agility.
Cost-Efficiency
Cloud-based databases eliminate the need for extensive physical infrastructure, reducing capital expenditures. Moreover, they offer pay-as-you-go pricing models, allowing businesses to pay only for the resources they use.
Accessibility
With Cloud-based databases, data can be accessed from anywhere with an internet connection, facilitating remote work and collaboration.
Top Players in Cloud-based Database Market:
- Oracle
- IBM
- Rackspace Hosting
- MongoDB
- Microsoft
- Salesforce
- Alibaba
- Cassandra
- Couchbase
- SAP
- Tencent
- Amazon Web Services
- Teradata
Outlook & Recent Development:
The Cloud-based Database Market is on a relentless journey towards transformation. It offers businesses a plethora of advantages, including scalability, cost-efficiency, and accessibility, while presenting challenges such as data security and downtime. To stay competitive, businesses should monitor emerging trends and innovations, such as AI integration and edge computing, and adapt their data management strategies accordingly.
The adoption of cloud-based databases continues to rise across various sectors, including e-commerce, finance, healthcare, and more. As organizations increasingly recognize the advantages of moving their databases to the cloud, the market is expected to grow further in the coming years.
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Enterprises can host databases on the cloud without access to hardware.
The ability to scale business at a rapid pace using cloud is likely to lead to its adoption by businesses of all sizes.
The global cloud database market report compiled by Market Research Future (MRFR) evaluates various growth opportunities and trends amid the COVID-19 pandemic and changes in business models for the period of 2018 to 2023 (forecast period).Market ScopeThe global cloud database market size is expected to reach USD 21.66 billion growing at 46.78% CAGR over the forecast period.
SegmentationBy database, the cloud database market is divided into SQL database and NoSQL database.By model, this market is segmented into service model and deployment model.
By deployment model, the DBaaS segment can provide security to data with tight surveillance and software upgrades designed to maintain the integrity of data stored in the database.By component, the market is segmented into software and service.
By service, the market is segmented into training and consulting service, system and network integration service, and deployment and maintenance service.By organization size, the market is segmented into large enterprise and small and medium-sized enterprise.By end-user, the market is segmented into academic, BFSI, healthcare, IT and telecom, government, and others.Regional AnalysisThe regional analysis of cloud database market is considered for North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).Rapid adoption of new technology is driving the growth of the cloud database market in North America.
Cloud Database Market Research Report, by Database (SQL and NoSQL), Model (Service and Deployment), Component (Software and Service), Organization Size (Large and small enterprise), End-User (BFSI, Healthcare, and others) — Global Forecast till 2023Market HighlightsScalability is considered to be a desirable possession of a system as it delivers enterprises with reliable and secured database services and solutions.
Scalability increase the service velocity and enhances the elasticity of database services ensuring easily deployable data to businesses.
Database scalability balances out a database to ensure that it can hold a large amount of data.
Furthermore, owing to data scalability the database is able to handle heavy loads of continuously increasing data traffic.
Hence, scalability is expected to be one of the factors fueling the growth of the cloud database market.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/6847Key playersThe prominent players in the cloud database market are Google Inc. (US), Amazon.com (US), Oracle (US), Microsoft (US), IBM (US), Salesforce.com Inc. (US), Rackspace Inc. (US), SAP AG (Germany), CenturyLink (US), and CSC (Computer Science Corporation) (US).VMware Inc. (US), Verizon (US), and Dropbox (US) are among the other players in the market.Regional AnalysisThe regional analysis of cloud database market is considered for North America, Europe, Asia-Pacific, and the rest of the world.Implementation of IoT and increasing adoption of cloud-based services in North American countries such as the US and Canada is expected to dominate the cloud database market during the assessment period.
Several investments and research and developments are taking place in the US owing to the increasing need for cloud database by the IT companies.
