Database as a Service Market Is Projected To Hit USD 50.24 Billion At A CAGR Of 17.08 % By 2028

Market Overview:
The Global Database as a Service Market size was valued at USD 16.66 Billion in 2021 and is projected to reach USD 50.24 Billion by 2028, growing at a CAGR of 17.08 % from 2022 to 2028.

Without the need for an on-premises database management system, users of the cloud computing service database-as-a-service (DBaaS) can access cloud database systems. To ensure that the database system is constantly available and secure, a cloud service provider takes care of everything, including backups and routine upgrades. Database-as-a-Service integrated management tools, including as logging, key management, and activity tracking utilities, simplify the process of creating, maintaining, and administering databases.

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Market Dynamics:
Driver:
Large volumes of data and numbers are present in practically every business, and demand for data security is rising. These factors together account for the market's expansion. The use of database as a service (DBaaS) can improve customer interactions, lower the risk of data theft and privacy breaches, and provide periodic updates. The demand for database-as-a-service is anticipated to increase as a result in the coming years. Further expected market growth drivers include expanding technology research and innovation, improvements in software, and services. Important elements believed to serve as growth drivers for the market include the increasing use of smartphones, cloud server installation, and growing internet penetration. As per the World Bank Statistics, 48.997% of the global population used internet in 2018, which is estimated to cross 58% by the end of 2021.

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Opportunities:
Healthcare, baking, and insurance businesses are dispersed and strongly reliant on their websites. As a result, these businesses choose for cloud databases and DBaaS solutions to cut their operating expenses and hence increase productivity. The need for DBaaS is rising in non-traditional industries including social networking, online gaming, and online music merchants. Database-as-a-Service offers businesses test on-site and cloud-based solutions to minimize the upfront capital costs of IT infrastructure, which is anticipated to generate plenty of growth prospects for the industry in the upcoming years.

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Segmentation of Database as a Service Market:

By Deployment Type
• On-Premise
• Cloud-Based
By Organization Size
• SMEs
• Large Enterprises
• Others
By End-User
• BFSI
• Healthcare
• Others

Geographic Segment Covered in the Report
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
South America (Brazil, Argentina, Rest of SA)

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Top Key Players Covered In Database as a Service Market
• Google LLC
• IBM
• Microsoft Corporation
• Amazon Web Services
• SAP
• EnterpriseDB
• Redis Ltd.
• MongoDB
• Oracle Corporation
• MariaDB and Other Major Players

Key Industry Developments In The Database as a Service Market
• In August 2021, Teradata Corporation declared successful adoption of its new Teradata Vantage cloud data analytics platform in the first half on 2021. The platform was introduced the previous year.
• In August 2021, ScyllaDB declared that NoSQL database is available and companies can able to load their data by using ScyllaDB Cloud on Google Cloud. It delivers high performance with low latency, minimizes data infrastructure costs, and helps with administrative overhead.
• In March 2020, Hitachi Vantara entered in strategic collaboration with Informatica and Hitachi Vantara, for the integration of databases to modern NoSQL data platforms like MongoDB to help various organizations. Hitachi Vantara is working with MongoDB for availability of a modernization solution that will enable customers to better move data from traditional data platforms like Oracle to MongoDB.

Key Benefits Of The Report
• This study presents the analytical depiction of the global Database as a Service industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Database as a Service share.
• The current market is quantitatively analyzed from 2022 to 2028 to highlight the Database as a Service growth scenario.
• Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed Database as a Service analysis based on the present and future competitive intensity of the market.

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