Cloud Database And DBaaS Market To Reach $49.78 Billion By 2030

Cloud Database And DBaaS Market Growth & Trends

The global cloud database and DBaaS market size is anticipated to reach USD 49.78 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 16.3% from 2023 to 2030. The global market is expected to experience growth in the forecast period due to the surge in demand for business agility and the widespread adoption of automation solutions. The market growth will also be driven by the rising need for faster and easier application deployment using a pay-as-you-go model, along with the increasing trend of integrating cloud-based database migration in business operations.The migration of databases to the cloud allows organizations to align their IT investments more effectively with business needs, while also reaping the efficiency benefits that come with cloud economies of scale.

With modern infrastructure and cloud capabilities, an organization’s IT staff can prioritize the applications that are most crucial to their customers, freeing up valuable resources for other essential tasks. By component, the solution segment accounted for the major revenue share of 54.3% in 2022 and is anticipated to maintain its dominance over the forecast period. Cloud database and DBaaS providers provide a range of solutions to their clients, which include basic database hosting, as well as advanced analytics and data management services. One of the significant advantages of this solution is that it enables businesses to concentrate on their primary operations while leaving database management to professionals. Furthermore, the pay-as-you-go model for application deployment and the availability of advanced analytics and data management services is driving the market growth.

The service segment is expected to witness the highest growth rate of 17.3% during the forecast period owing to the constant need for regular backups, security updates, and performance optimization. In terms of deployment, the hybrid cloud segment dominated the industry and captured the highest revenue share of 47.8% in 2022. The hybrid cloud model is proving to be one of the preferred cloud database deployments among the majority of organizations as it offers them greater flexibility in data management. In addition, it allows organizations to keep their most sensitive and critical data on-premises, while leveraging cloud databases for less critical data or to handle surges in demand. The private cloud segment is anticipated to witness the highest growth rate of 19.2% during the forecast period. Enhanced control over the infrastructure & data is driving the segment growth.

Based on end-uses, the IT and telecommunication segmentheld a major revenue share of 17.9% in 2022. It is expected to maintain its dominance over the forecast periodowing to the increasing volume of data generated by IT and telecommunication companies; and the need for more agile & scalable database infrastructure to support new business initiatives & digital transformation efforts. According to a 2021 Eurostat survey, the IT and telecommunications sector had the highest adoption rate of cloud computing services at 76%, followed by the professional, scientific, and technical operations sector at 56%. The automotive industry is expected to grow at a CAGR of 19.0% during the forecast period. The increasing volumes of data generated by connected cars are fueling the adoption of cloud databases and DBaaS solutions among automotive companies.

North America held the highest market share of 35.1% in 2022 and is anticipated to grow over the forecast period owing to the rise of big data and analytics. With more data being generated and collected than ever before, companies need a way to store and manage their data effectively. Cloud databases are particularly well-suited for migrating the company’s database as it offers powerful analytical tools that can help companies derive insights from their unstructured datasets quickly and easily. Asia Pacific is expected to grow at the highest CAGR of 19.3% during the forecast period owing to the increasing adoption of mobile and Internet of Things (IoT) technologies. These technologies generate vast amounts of data that need to be stored and analyzed in real-time, therefore cloud databases are well-suited to handling such huge workloads.

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Cloud Database And DBaaSMarket Report Highlights

• In terms of database type, the relational database segment dominated the market and captured the highest revenue share of 59.0% in 2022. Relational databases have been the dominant form of database technology and are extensively being used in enterprise IT systems

• The rise of cloud computing has had a significant impact on the way that relational databases are deployed and managed. Cloud databases have become increasingly popular due to their scalability, flexibility, and ease of use, and relational databases have played a key role in this development

• The NoSQL segment is expected to witness the highest CAGR of 17.3% during the forecast period. NoSQL databases have played a significant role in the development of cloud databases, as they have provided a flexible and scalable alternative to traditional relational databases that are better suited to the demands of modern cloud computing environments

• Based on the enterprise size, the large-sized enterprise segment captured the major revenue share of 53.0% in 2022 and is expected to continue its dominance over the forecast period

• Cloud databases also offer robust security and compliance features, which are critical for large organizations that handle sensitive data. This can help large organizations ensure their data is safe and compliant with regulatory requirements.

• The Small and Medium-sizedEnterprise(SMEs) segment is anticipated to grow at the highest CAGR of 17.2% during the forecast period. By leveraging cloud databases and DBaaS, SMEs can focus on growing their business and delivering value to their customers without being slowed down by the complexities of managing their data infrastructure. Also, a cloud database is beneficial for small and medium-sized businesses that may not have the resources or expertise to manage their databases in-house

Cloud Database And DBaaS Market Segmentation

Grand View Research has segmented the global cloud database and DBaaS market based on component, database type, deployment, enterprise size, end-use industry, and region:

Cloud Database and DBaaS Component Outlook (Revenue, USD Million, 2018 - 2030)

• Solution

  • Database Management

  • Storage

• Service

  • Professional Services

  • Managed Services

Cloud Database and DBaaS Database Type Outlook (Revenue, USD Million, 2018 - 2030)

• NoSQL

• Relational Database

Cloud Database and DBaaS Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Public

• Private

• Hybrid

Cloud Database and DBaaS Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

• Large Size Enterprises

• Small and Medium Sized Enterprises (SMEs)

Cloud Database and DBaaS End-use Industry Outlook (Revenue, USD Million, 2018 - 2030)

• IT & Telecommunications

• BFSI

• Healthcare

• Government & Public Sector

• Manufacturing

• Automotive

• Retail & Consumer Goods

• Media & Entertainment

• Others

Cloud Database and DBaaS Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Sweden

  • Finland

  • Netherlands

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • Singapore

• Latin America

  • Brazil

  • Mexico

  • Chile

  • Argentina

• Middle East & Africa

  • UAE

  • Saudi Arabia

  • South Africa

List of Key Players in Cloud Database and DBaaS Market

• Google LLC

• Nutanix

• Oracle Corporation

• IBM Corporation

• SAP SE

• Amazon Web Services, Inc.

• Alibaba Cloud

• MongoDB, Inc.

• Microsoft

• Teradata

• Ninox

• DataStax