About the Database As A Service (DBaaS) Market
Organizations across industries embrace cost-effective DBaaS solutions to meet their complex database management requirement and outperform their competitors. The need to gain flexibility while driving down data costs, the exponential growth in data due to increased implementation of enterprise mobility, and the rapid adoption of cloud computing positively impact the market growth.
In today’s world of information, every industry is experiencing disruptive changes in the way businesses are done worldwide. The generation of exponential data volumes in the digital universe is driven by the higher adoption of cloud services. Organizations will continue creating and consuming data on multiple devices. Some of the industry verticals such as healthcare, retail and financial services are among the most data-driven industries.
Technavio’s analysts forecast the global database as a service (DBaaS) market to grow at a CAGR of 65.49% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global database as a service (DBaaS) market for 2016-2020. To calculate the market size, we considered revenue generated from both SQL and Non SQL (NoSQL) databases.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Database As A Service (DBaaS) Market 2016-2020
Technavio recognizes the following companies as the key players in the global database as a service (DBaaS) market: Amazon Web Service, IBM, Microsoft, and Oracle.
Other Prominent Vendors in the market are: Accenture, CenturyLink, CSC, EMC, Google, HOSTING, HP, Rackspace, Redcentric, Salesforce.com, SAP, and Tesora.
Commenting on the report, an analyst from Technavio’s team said: “A major trend boosting market growth is the proliferation of digital data. Organizations across all sectors generate large chunks of data. The need to store different categories of data has prompted companies to adopt various database management tools. However, with the proliferation in digital data production, enterprises find cloud-based services such as DBaaS profitable as they are more reliable and cost-effective. Subscription-based models of DBaaS ensure that enterprises pay only for the utilized services. In addition, enterprises can retrieve and access data on-demand from a cloud when required and make modifications as well.”
According to the report, a key growth driver is the ease of use. The adoption of DBaaS enhances the degree of usability by helping individuals in an enterprise to take control of their applications directly. Tasks such as starting a new database cluster and configuring the database for load balancing is often managed by the database administrator. However, database services on the cloud allow setting up and managing databases by a wider range of individuals in an organization. This decreases the time spent on fine-tuning the company's databases and allows employees to use their time in fulfilling other responsibilities.
Further, the report states that one challenge that could restrict market growth is data integration issues. One of the concerns relating to database cloud services is its synchronization with the existing on-premise databases. Organizations across different industries adopt standards that are comparable with established ones; however, they are yet to be certified. In addition, technical complexities affect the cloud environment.
Amazon Web Service, IBM, Microsoft, Oracle, Accenture, CenturyLink, CSC, EMC, Google, HOSTING, HP, Rackspace, Redcentric, Salesforce.com, SAP, Tesora.
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