BANGALORE, India, July 20, 2021 /PRNewswire/ -- The Cloud Database Market is Segmented by Type (Database Application Builder, Data Scaling and Replication, Backup and Recovery, Database Encryption), by Application (Small and Medium Business, Large Enterprises). Global Opportunity Analysis and Industry Forecast 2021 - 2026. This report is published on Valuates Reports in the Data Management Category.
The global Cloud Database market size is projected to reach USD 68720 Million by 2026, from USD 7054.4 Million in 2019, at a CAGR of 38.2% during 2021-2026.
Major factors driving the growth of the Cloud Database market
Laying down infrastructure for database management is expensive; scaling it as needed is costly and often wasteful. With a cloud database, the cost associated with the infrastructure is completely removed and can be scaled down during non-peak usage times to save cost.
Unlike a traditional on-premise database, cloud databases allow developers to help themselves with database capabilities and spin up and configure a database that's ready to integrate with their application in minutes.
Default encryption of data at rest and in transit, as well as integrated identity and access management controls, are common features offered by cloud database providers. Some also meet regulatory compliance requirements.
TRENDS INFLUENCING THE GROWTH OF CLOUD DATABASE MARKET
Using cloud computing to manage and maintain your IT systems could be more cost-efficient. Organizations can save money by utilizing the services of their cloud computing service provider rather than purchasing pricey systems and equipment. Furthermore, you can scale down your database cluster during non-peak usage times to save money.
Increasing need for a reliable business continuity plan in times of disaster is expected to drive the cloud database market. Without the hassle of setting up disaster recovery and backup solutions on a physical device, businesses can ensure reliable disaster recovery and backup solutions through a cloud database. Investing in complex disaster recovery plans can be costly for many businesses, and backing up data takes time. The cloud is built in such a way that data saved on it is replicated across servers, ensuring that it is promptly backed up if one fails. After a breakdown, being able to immediately retrieve data again reduces website downtime and productivity loss.
The growing acceptance of cloud-based services in a variety of end-use industries, particularly in developed nations, is a major factor driving the worldwide cloud database market forward. Non-traditional sectors such as social networking and online music stores are also adopting cloud databases, which are projected to fuel the global database market's rise over the forecast period.
CLOUD DATABASE MARKET SHARE
Based on Service Models, the hybrid cloud segment accounted for the largest market share due to the offerings of hybrid cloud databases emerging as the growing trend in the market as they provide almost total control of operations over the data which is stored.
The Asia Pacific is the fastest-growing market due to the higher adoption of security-based applications and rising demand for innovative cloud services.
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CLOUD DATABASE MARKET SEGMENTS
Cloud Database Breakdown Data by Type
Database Application Builder
Data Scaling and Replication
Backup and Recovery
Cloud Database Breakdown Data by Application
Small and Medium Business
Century Link Inc.
Computer Sciences Corporation (CSC)
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- The global Cloud Storage Market size was valued at USD 46.12 Billion in 2019, and is projected to reach USD 222.25 Billion by 2027, growing at a CAGR of 21.9% from 2020 to 2027.
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