Cloud database typically runs on various cloud computing platforms, which the users can run independently or purchase the access to the various database services available in the market. Cloud services are witnessing constant surge in demand since the past few years. Along with the cloud services, cloud database is also witnessing this rise thanks to the growth in the industrial regions that rely on big data and require high-performance from the services and different applications. Database as a service (DBaaS) is gaining rapid demand across the world, which is naturally creating growth in demand for the global cloud database and DBaaS market. As a result, businesses in this industry are aiming at healthy growth in terms of business expansions, revenue channels, clientele and global presence.
Segmentation in DBaaS and Cloud Database Market
The global industry is categorized on the basis of several crucial industry elements, which mainly include the solutions, types of databases, services, and deployment services, types of software, service models, end-user industry verticals, and demand patterns across different geographic regions. Following are the details of the sub-segmentation in the global cloud database and DBaaS market:
- Database: NoSQL and relational/SQL
- Services: System and network integration, training and consulting, and deployment & maintenance
- Software: Data scaling and replication, database application builder, database encryption, backup and recovery, and such other
- Deployment: Platform as a service (PaaS), infrastructure as a service (IaaS), and database as a service (DBaaS)
- Service Models: Public cloud, virtual private cloud, public cloud and hybrid cloud
- Organizations: Small and medium businesses and large organizations
- Verticals: BFSI, healthcare, media, entertainment, government, hospitality, telecommunication, academia, life sciences, etc.
- Geography: Europe, Asia Pacific, North America, Latin America and Middle East and Africa
Drivers, Trends and Forecasts
Growth in the global adoption of the cloud database services and platforms like database as a service (DBaaS) have created great growth prospects for the global cloud database and DBaaS market. The industry is also aiming at strong growth with increasing deployment across different industrial verticals. Various industrial verticals like life sciences, healthcare, telecommunications and information technology, BFSI, and academia, etc. are recording strong demand for these services. Steady growth in the rate of adoption is expected to create better business opportunities for the market.
According to the market research reports, emerging markets are also expected to witness healthy growth in the market. This growth is attributed to the technological advancements, growth in the industrial areas and applications of the database as a service. As a result, the global market is expected to grow at an exponential CAGR of over 67% for the next five years. From 2014 to 2019, the industry is set to become worth $14.05 billion by 2019. As of 2014, the market was worth $1.7 billion. North America is anticipated to dominate the global market. However, emerging marketplaces like Asia Pacific, Middle East, Africa, and Latin America are also expected to record strong growth during the forecasting period.