The latest report by IMARC Group, titled “Database as A Service Market Share, Industry Trends, Size, Growth and Report 2023-2028“. The database as a service market share and size reached US$ 20.8 Billion in 2022. IMARC Group expects the market to reach US$ 68.9 Billion by 2028, exhibiting a growth rate (CAGR) of 20.7% from 2023–2028.
Database as a Service (DBaaS) is a cloud computing solution that offers users a convenient and scalable way to manage, store, and access databases. In this model, the complexities of database administration, maintenance, and infrastructure management are handled by a service provider. Users can focus on utilizing the database to meet their specific needs without the burden of hardware setup, software installation, or ongoing maintenance tasks. DBaaS provides a flexible and cost-effective solution for businesses seeking to streamline their database operations. It enables easy scalability to accommodate changing data requirements while also ensuring data security and reliability through automated backups and updates. This service empowers organizations to efficiently harness the power of databases without investing extensive resources in infrastructure and expertise. As a result, DBaaS finds extensive applications in the e-commerce, healthcare, and finance industries across the globe.
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Database as A Service Market Trends and Drivers:
The global database as a service market is primarily driven by the escalating demand for scalable and cost-effective database solutions due to the increasing adoption of cloud computing across industries. Additionally, the growing need for efficient data management, real-time analytics, and simplified database administration has accelerated the adoption of DBaaS among businesses to streamline operations. Moreover, the rising data-driven decision-making and the rapid expansion of Big Data applications have catalyzed the market growth. Moreover, the increasing number of organizations seeking to minimize infrastructure complexities and reduce IT overheads has accelerated the adoption of DBaaS as it offers a compelling solution by outsourcing database management and maintenance. Furthermore, the push for digital transformation and the emergence of the Internet of Things (IoT) and Artificial Intelligence (AI) are contributing to market growth.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- SQL
- NoSQL
Breakup by Organization Size:
- Small Enterprises
- Medium Enterprises
- Large Enterprises
Breakup by Deployment Type:
- On-Cloud
- On-Premises
Breakup by End User:
- BFSI
- Healthcare
- Government
- Others
Breakup by Region:
- North America (U.S. Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East Africa
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