Market Overview:
The Global Database as a Service Market size is expected to grow from USD 19.66 billion in 2022 to USD 73.90 billion by 2030, at a CAGR of 18% during the forecast period (2023-2030).
Users of database-as-a-service (DBaaS), a cloud computing service, can access cloud database systems without using an on-premises database management system. A cloud service provider handles everything, including backups and recurring upgrades, to guarantee that the database system is always accessible and safe. The process of setting, monitoring, and managing databases is made simpler by DBaaS's integrated management capabilities, such as logging, key management, and activity tracking utilities. One of the main drivers of market growth is the rising sales of smartphones, which coincide with the rising demand for mobile apps.
Top Key Players for Database as a Service Market:
Google LLC, IBM, Microsoft Corporation, Amazon Web Services, SAP, EnterpriseDB, Redis Ltd., MongoDB, Oracle Corporation, MariaDB, and Other Major Players.
Market Dynamics and Factors for Database as a Service Market:
Drivers:
Growing Demand for Large Storage Space and Need for Self-Driving Cloud Databases
The Database as a Service (DBaaS) Market experiences growth due to the escalating need for expansive storage and the emergence of self-driving cloud databases. Industries require large data storage capacities to manage vast datasets effectively. Self-driving cloud databases leverage automation, AI, and machine learning to autonomously handle tasks like optimization, maintenance, and scaling. This reduces manual intervention, enhances database performance, and streamlines operations, meeting the demands of businesses for efficient, scalable, and technologically advanced data management solutions, thereby driving the expansion of the DBaaS Market.
Opportunities:
Exploring On-Site And Cloud Solutions For Testing Can Reduce Initial IT Infrastructure Costs, Creating Abundant Growth Opportunities.
The Database as a Service (DBaaS) Market stands to benefit from the opportunity presented by exploring on-site and cloud solutions for testing. By offering testing environments that minimize the need for substantial initial IT infrastructure investments, businesses can efficiently evaluate and deploy DBaaS solutions. This approach reduces financial barriers, accelerates adoption, and encourages more organizations to embrace DBaaS for streamlined data management. As companies seek cost-effective and agile database solutions, the ability to test on-site and in the cloud fosters ample growth prospects for the DBaaS Market, driving its expansion and market reach.
Segmentation Analysis of the Database as a Service Market:
By Deployment Type, Cloud-Based deployment type in the Database as a Service (DBaaS) Market involves hosting databases on remote cloud servers. It offers scalability, accessibility, and reduced infrastructure management for businesses, enabling them to leverage data storage and management solutions without the need for on-premises hardware and maintenance.
By End-User, The BFSI (Banking, Financial Services, and Insurance) sector is a rapidly expanding segment of the Database as a Service (DBaaS) Market. With its data-intensive operations, BFSI benefits from DBaaS's scalable, secure, and cost-effective solutions, aiding in efficient data management, compliance, and customer service, driving its substantial growth.
Regional Analysis of the Database as a Service Market:
The market for databases as a service is anticipated to be dominated by the North American region, which is anticipated to hold the largest market share throughout the forecast period. The dominance of the United States and Canada in the DBaaS market is attributable to factors like the widespread usage of DBaaS for industrial purposes with cutting-edge database technology like Microsoft SQL Server, MongoDB, and Elasticsearch. Additionally, the market expansion in this region is boosted by the rising innovation in the database as a service by regional players like Microsoft, AWS, and Oracle Corporation.
Key Industry Development:
In August 2021, Teradata Corporation declared the successful adoption of its new Teradata Vantage cloud data analytics platform in the first half of 2021. The platform was introduced the previous year.
In August 2021, ScyllaDB declared that the NoSQL database is available and companies can able to load their data by using ScyllaDB Cloud on Google Cloud. It delivers high performance with low latency, minimizes data infrastructure costs, and helps with administrative overhead.
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- US
- Canada
- Mexico
Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
