Cloud Database Market is forecast to reach $30.8 billion by 2025, after growing at a CAGR of 45.4% during 2020-2025. With rise in the adoption of IoT technologies and the usage of cloud database for computing in various organizations for different applications is analyzed to boost the cloud database market.Moreover the cloud databases provide the customers with improved performance, service resilience and so on,thereby enhancing the overall market demand for Cloud Database during the forecast period.
• North America dominates the Cloud Database market owing to high adoption of cloud storage by the large enterprises and SMEs in the region.
• The growing demand from the large scale enterprises for data management and storage, is likely to aid in the market growth of Cloud Database market during the forecast period 2020-2025.
• The increased number of investments in the IoT applications and its impact on the IT and telecom industry is analyzed to impose a significant rise in the demand for data management services thereby creating significant number of opportunities in Cloud Database market during 2020-2025.
Organization Size - Segment Analysis
Large enterprises heldthe largest share in the Cloud Database market in 2018. Large enterprises are majorly opting for the private cloud databases thereby ensuring security along with additional benefits including reduced infrastructure configuration, management overheads and so on. Enterprises can use the cloud virtualization solutions, tools and databases to develop their cloud based applications and solutions.Forbes has stated that 83% of enterprise workloads will be in cloud by 2020 thereby creating a wide range of opportunities for the cloud database market. It has also stated that in 2018 alone, 30% of all the IT budgets were allocated to the cloud computing thereby contributing to the market share.However small and medium scale enterprises are analyzed to have highest growth rate during the forecast period 2020-2025.
Application - Segment Analysis
IT and Telecom held the major market share Cloud Database market in 2018 and is also analyzed to grow at highest CAGR of 46.70% during the forecast period 2020-2025. Cloud computing is majorly deployed in IT industry majorly owing to the advantages such as high scalability, low cost and accessed through cloud platform. Moreover the increasing demand for IoT and adoption for database as a server is contributing to the overall IT industry. Adding up to these factors, deployment of cloud database reduces the IT complexities and operational costs. It helps in creating Virtual machine images as well.Further the employment of big data management in the BFSI applications is also analyzed to boost the market during the forecast period 2020-2025.
Geography- Segment Analysis
In 2018, North America dominated the Cloud Database market with a market share of 47%, followed by APAC and Europe. The major factor contributing to the major market share is the presence of large cloud database vendors including Amazon, Google, Oracle and so on, as they provide enhanced advanced technical architecture and cloud database security to the customers in this region thereby boosting the market during the forecast period 2020-2025. APAC is also analysed to grow at ahighest rate during forecast period owing to the increasing adoption of IoT and the major shift of the various enterprises towards the cloud computing.Moreover the significant rise in the investments towards the shift of enterprises and the use of IoT in various applications including smart homes, roads and so on are boosting the Cloud database market.
Drivers –Cloud Database Market
• Growing demand for Database as a service(DBaaS)
Cloud Database eliminates physical infrastructure, providesfaster time to application development at lower cost.Moreover DBaaS solutionsprovide the benefits including instantaneous scalability, performance guarantees, failover support, declining pricing and specialized expertise. With the rise in cloud computing the demand for server and DBaas has significantly increased, primarily DBaaS provision benefits including lower database licensing and infrastructure costs and so on areimpacting in the rise of the demand for DBaas market thereby elevating the growth of the Cloud database market.
Challenges – Cloud Database Market
• Security issues
Security concern is the major factor impacting the cloud database market. The customers are unaware of the exact data storage location. Some face certain issues including data breaches, compromised credentials, hacked interfaces and so on. Hence the storage of sensitive data in the databases may sometimes lead to loss of the businesses. Therefore the above factors hamper the growth of the Cloud database market.
Technology launches,acquisitions and R&D activitiesare key strategies adopted by players in the Cloud Database market. In 2018, the market of Cloud Databasehas been consolidated by the top ten players includingGoogle Inc., Amazon, Oracle corp., Microsoft corp., IBM Corp., Rackspace Inc., Salesforce Inc., SAP SE., Centurylinkcloudamong others.
- In 2018, Sales force Inc., has acquired Mulesoft, LLC for $6.5bn in order to boost its cloud strategy.
- In 2018, Munich Re has acquired a startup named Relayr in order to expand its solutions in the IoT. Therefore the increasing investments towards IoT impact the cloud database market as they are interlinked and the data from IoT devices is mostly stored in the cloud databases.
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