Cloud Database and DBaaS Market Global Demand, Growth, Opportunities, Top Key Players and Forecast to 2027

Growing demand to process low-latency queries, rising need for self-driving cloud database, and increasing use of cloud service for critical data storage are the key factors driving the growth of the Global Cloud Database and DBaaS market. However, multiple other factors, such as seamless integration, cost-efficiency, availability, flexibility, and shift from the traditional database to cloud database, are also propelling the growth of the market. Businesses, including BFSI, healthcare, retail, and others, are located in multiple locations and are mainly dependent on websites. Therefore, such businesses are adopting cloud storage to enhance productivity and decrease the cost of operations. It has been observed that DBaaS platform allows the businesses to reduce more than 30% of the cost of a similarly configured on-premises database platform, and also eliminates the cost of labour required to maintain the onsite database.

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Cloud database is a database service that is built and accessed through the cloud platform. It performs multiple functions similar to the traditional database with the flexibility of cloud computing. A DBaaS is a database cloud service that undertakes the management of underlying infrastructure and resources cloud database and allows companies to take advantages of cloud services. Running a cloud-based database enables businesses to scale up or down the peak workload periods. It also provides database replication across multiple geographical locations, along with backup and recovery options, which reduces security concerns.

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Based on the database type, the market is segmented into SQL and NoSQL. Among these, SQL category is expected to grow at a higher CAGR during the forecast period. SQL is a database management system that helps in keeping data organized and voluntarily available through the user interface. Therefore, the need for SQL in the cloud database and DBaaS is majorly due to the increase in data volume. All the data generated from clients is required to be stored somewhere, so SQL works with a relational database and organizes data into columns, rows, and tables, which corresponds to field, files, and records. Hence, SQL helps in getting on-demand access to managed relational databases leading to the growth of the segment.

On the basis of vertical, the market is segmented into BFSI, IT & telecom, government, retail & consumer goods, manufacturing, energy & utility, healthcare, and others. Among these, retail & consumer goods segment is anticipated to lead the market during the forecast period due to the rapid adoption of technology to enhance the level of competitiveness and support business continuity. Presently, with the help of the cloud database and DBaaS, most of the retail & consumer goods enterprises are merging their legacy product information management system with an inventory management system. The technology also helps retail & e-commerce companies to enhance process efficiency, thereby improving customer engagement while reducing operational costs.

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Based on the region, North America is projected to grow at a higher CAGR during the forecast period. This is attributed to the early adoption of technology in developed countries such as the U.S. and Canada in the region. Enterprises in the region are increasingly adopting multiple advanced technologies such as AI, RPA, and cloud computing, which is fuelling the growth of the market.

The key players in the market include Google LLC, Microsoft Corporation, AWS, IBM Corporation, Oracle Corporation, SAP SE, MongoDB Inc, Rackspace Inc, Teradata Corporation, and CenturyLink Inc., among others.

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Key Developments

• In 2019, Microsoft Corporation and Oracle Corporation entered into a cloud interoperability partnership that enabled customers to migrate and run mission-critical enterprise workload across Oracle Cloud and Microsoft Azure.
• In 2019, SAP SE partnered with Microsoft Corporation to accelerate customer adoption of SAP S/4 HANA and SAP cloud platform on Microsoft Azure. In addition, Microsoft Corporation also resells components of the SAP cloud platform along with Microsoft Azure.

The Cloud Database and DBaaS market has been segmented based on Database Type, Component, Deployment Model, Organization Size, and Vertical. Based on the Database Type, the market is segmented into SQL, and NoSQL. Based on the Component, the market is segmented into Solution and Service. Based on Deployment Model, the market is segmented into Public Cloud, Private Cloud, and Hybrid Cloud. Based on the Organization Size, the market is segmented into Large Enterprises, and SMEs. Based on Vertical market is segmented into BFSI, IT & Telecom, Government, Retail & Consumer Goods, Manufacturing, Energy & Utility, Healthcare, and Others.

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