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Cloud-based Data Management Services Market by Service Type (Integration, Data Security & Backup, Quality-as-a-Service), Service Model, Deployment Mode, Vertical (BFSI, IT & Telecom, Retail & Consumer Goods) and Region - Global Forecast to 2028

Publisher MarketsandMarkets
Published Dec 08, 2023
Length 257 Pages
SKU # MKMK18378784

Description

Cloud-based Data Management Services Market by Service Type (Integration, Data Security & Backup, Quality-as-a-Service), Service Model, Deployment Mode, Vertical (BFSI, IT & Telecom, Retail & Consumer Goods) and Region - Global Forecast to 2028



The cloud-based data management services market size is expected to grow from USD 40.2 billion in 2023 to USD 141.7 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 28.7% during the forecast period. The demand for scalability, accessibility, and flexibility among businesses offers opportunities for the growth of the cloud-based data management services market. The higher expense of storing data on the cloud and data security concerns are challenging the development of the cloud-based data management services market.

“As per the service model, the IaaS segment holds the largest market share during the forecast period. “

Enterprises increasingly turn to IaaS to enhance their data management capabilities, driven by its scalability and cost-effectiveness. For instance, major players like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) have reported substantial growth in their IaaS offerings. AWS reported a 32% increase in revenue from its cloud services, including IaaS, in its Q3 2022 financial results. Organizations such as Netflix and Airbnb have successfully leveraged IaaS to handle massive data loads during peak times, showcasing the ability of IaaS to scale resources seamlessly. The trend towards IaaS adoption is likely to continue, fueled by the growing demand for flexible, on-demand infrastructure in the evolving landscape of cloud-based data management services.

“As per vertical, the IT & telecom vertical is to hold the second largest market share in 2023. “

The IT and telecom industries increasingly turn to cloud-based data management services to address many challenges and capitalize on numerous opportunities in their dynamic environments. The adoption of cloud-based solutions in these sectors is underpinned by several compelling factors that collectively drive the transformative shift toward more agile, scalable, and efficient data management practices.

One paramount factor driving the IT and telecom industry's embrace of cloud-based data management is the inherent scalability offered by cloud services. The demand for IT and Telecom services often experiences significant fluctuations, influenced by technological advancements, market dynamics, and global events. Cloud-based data management allows companies in these industries to seamlessly scale their infrastructure up or down in response to changing requirements. This not only enhances operational efficiency but also helps manage costs effectively. Traditional data management systems often struggle to match cloud services' scalability and flexibility, making the cloud an attractive solution for IT and Telecom companies seeking to optimize resource utilization.

Cost efficiency is another compelling driver for adopting cloud-based data management in the IT and Telecom sectors. Substantial capital investments in hardware, software, and infrastructure characterize these industries. With their pay-as-you-go model, cloud services enable organizations to shift from capital-intensive models to operational expenditures (OPEX), reducing upfront costs significantly. This cost-effective approach allows IT and Telecom companies to allocate resources strategically, directing capital toward innovation, research and development, and core business functions rather than maintaining and upgrading on-premises infrastructure.

“As per region, Europe is projected to witness the second largest market share during the forecast period.”

Europe has a well-developed ICT landscape with high internet penetration rates and widespread use of mobile devices. The region focused on advancing ICT infrastructure to support emerging technologies, emphasizing data privacy and cybersecurity regulations such as the General Data Protection Regulation (GDPR). Cloud adoption in Europe increased, with businesses and governments leveraging cloud services for storage, computation, and collaboration. Major cloud service providers, including Amazon Web Services, Microsoft Azure, and Google Cloud, expanded their regional presence to meet growing demand. According to Eurostat, the European Union’s statistical office, businesses across Europe increasingly embraced cloud computing services, with more than 40% of enterprises utilizing cloud solutions for hosting data and applications in 2021.

Furthermore, prominent cloud service providers reported substantial growth in the region. For instance, Amazon Web Services (AWS) noted a 29% year-over-year revenue increase in the third quarter of 2022. Microsoft Azure and Google Cloud also experienced notable gains, underscoring the pervasive shift toward cloud-based data management services across diverse European sectors. The trend reflected a strategic response to the demands of modern business environments, emphasizing scalability, flexibility, and data accessibility.

The breakup of the profiles of the primary participants is given below:

 By Company: Tier I: 37%, Tier II: 29%, and Tier III: 34%

 By Designation: C-Level Executives: 31%, Director Level: 34%, and Others: 35%

 By Region: North America: 46%, Europe: 28%, Asia Pacific: 18%, Rest of World: 8%

Note: Others include sales managers, marketing managers, and product managers

Note: The rest of the World consists of the Middle East & Africa and Latin America

Note: Tier 1 companies have revenues of more than USD 100 million; tier 2 companies’ revenue ranges from USD 10 million to USD 100 million; and tier 3 companies’ revenue is less than 10 million

Source: Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis

Some of the major vendors offering cloud-based data management services market across the globe include IBM (US), Fujitsu (Japan), Cisco (US), Dell Technologies (US), HPE (US), NetApp (US), Informatica (US), SAS (US), Actian (US), Oracle (US), SAP (Germany), Google (US), AWS (US), Accenture (Ireland), Snowflake (New Zealand), Talend (US), Hitachi Vantara (US), Cloudera (US), Teradata (US), Experian (Ireland), Alibaba Cloud (China), TIBCO Software (US), Cohesity (US), and Commvault (US).

Research coverage:

The market study covers the cloud-based data management services market across segments. It aims to estimate the market size and the growth potential of this market across different segments, such as service type, service model, deployment mode, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall cloud-based data management services market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (simplified data backup and disaster recovery, increase in demand for improved data usability and quality, growth in necessity for workplace collaboration, higher emphasis on business continuity), restraints (performance issues, lack of training, and skill gap) opportunities (demand for scalability, accessibility, and flexibility, among businesses, growth in adoption of hybrid and multi-cloud environments), and challenges (higher expense of storing data on cloud, data security and privacy concerns) influencing the growth of the cloud-based data management services market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the cloud-based data management services market.

Market Development: Comprehensive information about lucrative markets – the report analyses the cloud-based data management services market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the cloud-based data management services market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like IBM (US), Fujitsu (Japan), Cisco (US), Dell Technologies (US), HPE (US), NetApp (US), Informatica (US), SAS (US), Actian (US), Oracle (US), among others in the cloud-based data management services market.

Table of Contents

257 Pages
    • STUDY OBJECTIVES
    • MARKET DEFINITION
    • MARKET SCOPE
    • YEARS CONSIDERED
    • CURRENCY CONSIDERED
    • STAKEHOLDERS
    • SUMMARY OF CHANGES
    • RESEARCH DATA
    • MARKET FORECAST
    • MARKET SIZE ESTIMATION
    • DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
    • IMPACT OF RECESSION ON GLOBAL CLOUD-BASED DATA MANAGEMENT SERVICES MARKET
    • LIMITATIONS AND RISK ASSESSMENT
  • EXECUTIVE SUMMARY
    • OVERVIEW OF CLOUD-BASED DATA MANAGEMENT SERVICES MARKET
    • CLOUD-BASED DATA MANAGEMENT SERVICES MARKET, BY SERVICE TYPE
    • CLOUD-BASED DATA MANAGEMENT SERVICES MARKET, BY SERVICE MODEL
    • CLOUD-BASED DATA MANAGEMENT SERVICES MARKET, BY DEPLOYMENT MODE
    • CLOUD-BASED DATA MANAGEMENT SERVICES MARKET, BY VERTICAL
    • CLOUD-BASED DATA MANAGEMENT SERVICES MARKET: REGIONAL SCENARIO
    • INTRODUCTION
    • MARKET DYNAMICS
    • CASE STUDY ANALYSIS
    • SUPPLY CHAIN ANALYSIS
    • ECOSYSTEM MAPPING
    • TECHNOLOGICAL ANALYSIS
    • INDICATIVE PRICING ANALYSIS
    • BUSINESS MODEL ANALYSIS
    • PATENT ANALYSIS
    • PORTER'S FIVE FORCES ANALYSIS
    • KEY CONFERENCES AND EVENTS
    • TARIFF AND REGULATORY LANDSCAPE
    • TRENDS/DISRUPTIONS IMPACTING BUYERS
    • KEY STAKEHOLDERS & BUYING CRITERIA
    • INTRODUCTION
    • INTEGRATION SERVICES
    • DATA SECURITY & BACKUP SERVICES
    • QUALITY-AS-A-SERVICE
    • INTRODUCTION
    • SOFTWARE-AS-A-SERVICE
    • PLATFORM-AS-A-SERVICE
    • INFRASTRUCTURE-AS-A-SERVICE
    • INTRODUCTION
    • PUBLIC CLOUD
    • PRIVATE CLOUD
    • INTRODUCTION
    • BANKING, FINANCIAL SERVICES, AND INSURANCE (BFSI)
    • IT & TELECOM
    • RETAIL & CONSUMER GOODS
    • GOVERNMENT & PUBLIC SECTOR
    • ENERGY & UTILITIES
    • MANUFACTURING
    • HEALTHCARE & LIFE SCIENCES
    • EDUCATION
    • MEDIA & ENTERTAINMENT
    • RESEARCH & CONSULTING SERVICES
    • OTHER VERTICALS
    • INTRODUCTION
    • NORTH AMERICA
    • EUROPE
    • ASIA PACIFIC
    • MIDDLE EAST & AFRICA
    • LATIN AMERICA
    • INTRODUCTION
    • KEY PLAYERS' STRATEGIES/RIGHT TO WIN
    • MARKET SHARE ANALYSIS
    • VENDOR PRODUCTS/BRANDS COMPARISON
    • REVENUE ANALYSIS OF TOP VENDORS
    • KEY COMPANY EVALUATION MATRIX
    • STARTUP/SME EVALUATION MATRIX
    • COMPANY FINANCIAL METRICS
    • GLOBAL SNAPSHOT OF KEY MARKET PARTICIPANTS
    • COMPETITIVE SCENARIO AND TRENDS
    • INTRODUCTION
    • KEY PLAYERS
    • STARTUPS/SMES
    • INTRODUCTION
    • ENTERPRISE DATA MANAGEMENT MARKET
    • MASTER DATA MANAGEMENT MARKET
    • CLOUD INFRASTRUCTURE SERVICES MARKET
    • DISCUSSION GUIDE
    • KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • CUSTOMIZATION OPTIONS
    • RELATED REPORTS
    • AUTHOR DETAILS
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