Database as a Service (DBaaS) is a process in which owner is paying for the database management to outside service provider that actually involved in launching & maintaining database with the help of the cloud computing. Cloud Database and DBaaS allows storing of database virtually on cloud. This database model helps in optimized fixing of the database. Additionally, administrative tasks & maintenance of the database are done by service providers themselves. DBaaS is the fastest growing cloud service as it provides developments in performance, standardization, productivity, and data security of databases. Additionally, it helps in enhancing scalability & elasticity that helps in database management. The key features of cloud database and DBaaS include accessibility, faultless assimilation, expenditure saving, up gradation, and litheness.
According to study, “Global Cloud Database and DBaaS Market to reach USD 28.78 billion by 2026” the key companies operating in the global cloud database and DBaaS market are Google LLC, Amazon Web Services (AWS), Microsoft Corporation, IBM Corp., Oracle Corporation, SAP SE, Alibaba Cloud, MongoDB, EnterpriseDB and Redis Labs. Key vendors provide cloud database services that facilitate the management of fundamental infrastructure that maintains & manages wide-scale databases over the cloud, therefore enabling companies to benefit from the related services.
Based on type of software solution, cloud database and DBaaS market is bifurcated as information scaling & imitation, database application designer, record encryption, backing & recovery and others. Based on database type, cloud database and DBaaS market is bifurcated as Structured Query Language (SQL) and not only Structured Query Language (NoSQL). Based on component, market is bifurcated as services and solutions. Based on deployment model, market is bifurcated as public cloud, private cloud and hybrid cloud. In addition, based on vertical, market is bifurcated as Telecom and Information Technology (IT), Banking, Financial Services and Insurance (BFSI), consumer goods & retail, government, energy & utilities, manufacturing, healthcare & life sciences, media & entertainment and others.
The market is driven by emergence of virtualization in storing IT resources, followed by effective & flexible storage of database is becoming necessary. However, complications in cloud integration and security threats due to hackers may impact the market. Moreover, additional integration in software to increase its operational efficiency and increase in database workload are key opportunities for market. Furthermore, enhance scalability & elasticity due to advanced integration is a major trend for market.
Based on geography, the North-American region holds major share in global cloud database and DBaaS market owing to growth in adoption of technology along with presence of high-speed internet to access the cloud network in the region. Whereas, the Asian-Pacific and European regions are estimated to witness higher growth rate due to rise in need for advanced intelligent solutions over the forecast period. In upcoming years, it is predicted that future of the global market will be optimistic on account of presence of major cloud database and DBaaS vendors during the forecast period. The global Cloud Database and DBaaS market is valued approximately US $10.37 billion in 2019 and is expected to grow with a healthy growth rate of more than 15.7 % over the forecast period 2019 to 2026.
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Ankur Gupta, Head Marketing & Communications