Cloud Database And DBaaS Market Forecast 2024-2033: Anticipated Size and Growth Trends
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What is the Expected Growth Rate of the Cloud Database And DBaaS Market from 2024 to 2033?
The cloud database and DBaaS market has seen substantial growth, projected to increase from $19.86 billion in 2023 to $24.03 billion in 2024 at a CAGR of 21%. This growth is driven by data breaches, regulatory compliance needs, cloud adoption, security incidents, and digital transformation efforts.
The cloud database and DBaaS market is expected to grow to $52.13 billion by 2028 at a CAGR of 21.4%. Growth drivers include IoT expansion, edge computing, AI adoption, hybrid environments, and remote workforce trends. Key trends involve zero trust architecture, cloud-native security solutions, security orchestration integration, threat intelligence sharing, and heightened regulatory scrutiny.
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What Key Factors Are Fueling the Growth of the Cloud Database And DBaaS Market?
The rise in digitalization is expected to drive the growth of the cloud database and DBaaS market. Digitalization refers to utilizing digital technologies to transform business operations and models, enabling organizations to improve decision-making and streamline processes. Cloud databases and Database-as-a-Service (DBaaS) provide various options, including relational and NoSQL databases, allowing businesses to select the most suitable type for their needs. For example, a report from the European Investment Bank in May 2023 indicated that 42% of European firms invested more in digitalization in 2022, a 9 percentage point increase from 2021. Additionally, 50% of firms in the U.S. pursued further digitalization investments during the same period. Therefore, the growth of digitalization is propelling the cloud database and DBaaS market.
What Are the Major Segments of the Cloud Database And DBaaS Market?
1) By Component: Solution; Service
2) By Database Type: Not Only Structured Query Language (NoSQL); Relational Database
3) By Deployment: Public; Private; Hybrid
4) By Enterprise Size: Large Size Enterprises; Small And Medium Sized Enterprises (SMEs)
5) By End-use Industry: Information Technology (IT) And Telecommunications; Banking, Financial Services, And Insurance (BFSI); Healthcare; Government And Public Sector; Manufacturing; Automotive; Retail And Consumer Goods; Media And Entertainment; Others End-use Industries
What New Trends Are Transforming the Cloud Database And DBaaS Market?
Companies in the cloud database and DBaaS market are focusing on proactive self-healing database management. Silk Technologies Inc. introduced a Cloud Database as a Service in January 2024, providing managed services that allow businesses to focus on strategic initiatives.
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Which Regions Are Driving Growth in the Cloud Database And DBaaS Market?
North America was the largest region in the cloud database and DBaaS market in 2023. The regions covered in the cloud database and dbaas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Cloud Database And DBaaS Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the cloud database and dbaas market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Cloud Database And DBaaS Market Include
1. Cloud Database And DBaaS Market Executive Summary
2. Cloud Database And DBaaS Market Segments
3. Cloud Database And DBaaS Market Size And Template Market Growth Rate
4. Key Cloud Database And DBaaS Market Trends
5. Major Cloud Database And DBaaS Market Drivers
……
25. Key Mergers And Acquisitions In The Cloud Database And DBaaS Market
26. Top Cloud Database And DBaaS Companies
27. Cloud Database And DBaaS Market Opportunities And Strategies
28. Cloud Database And DBaaS Market, Conclusions And Recommendations
29. Appendix
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