New York, USA, Nov. 14, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Database Management Platform Market: By Data Type, By Data Source, End User – Global forecast to 2030, the market is expected to acquire a valuation of around USD 158.57 billion by the end of 2030. The reports further predict that the market will thrive at a robust CAGR of over 11.53% during the assessment period.
Database Management Platform Market Overview:
The database management platform market is expected to experience rapid revenue growth. The availability of different types of database services, along with the changing technology landscape, advances in automation and the cloud, are major driving forces. Additionally, the growing demand for AI-based tools to accelerate and automate various business processes is driving the market growth. With the growing demand for analytics to understand changing customer preferences and make better decisions based on product pages, the market is expected to gain popularity across the globe.
The database management system (DBMS) is used to find and store information that can be changed securely according to the needs of the organization. Database management solutions, along with other IT and business intelligence tools, help organizations use organized data to achieve improved and efficient decision-making, agility, and scalability. In recent years, the DBMS has evolved considerably due to major technological advances.
Autonomous technology has improved database management, providing self-driving, self-securing, and self-healing capabilities. Autonomous databases are revolutionizing the way businesses manage and secure their data, delivering performance benefits and enabling low-cost operations and improved security. Database management platforms offer significant advantages, such as efficient storage of high-risk data that can be accessed securely and simple data processing techniques with reduced data inconsistency.
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Major Players active in the Database Management Platform market are-
- Adobe Systems Inc (USA)
- Oracle Corporation (USA)
- KBM Group LLC (USA)
- Rocket Fuel, Inc. (USA)
- Lotame Solutions Inc (USA)
- Krux Digital Inc (USA)
- Turn Inc (USA)
- Neustar, Inc. (USA)
- SAP SE (Germany)
- SAS Institute (USA)
- Cloudera Inc (USA)
- Informatica (US)
Scope of Database Management Platform Market Report:
|Revenue forecasts in 2030||$158.57 billion|
|Rate of growth||CAGR of 11.53% from 2022 to 2030|
|Year of reference||2021|
|Key market opportunities||The data management platform needs the right people to run the operation|
|Key Market Drivers||The growing use of technology in businesses contributes to the need for effective data protection|
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Additionally, increasing adoption of database management platforms for customer acquisition and optimization of digital marketing and advertising campaigns are major trends increasing the market size. The proliferation of traditional web and social media analytics providing real-time analysis to identify issues and improve digital customer experience is positively impacting the growth of the database management platform market.
Additionally, the growing use of database management platforms by marketing professionals and advertising companies is increasing market share, thereby improving the digital customer experience. The world of mobile apps has steadily grown and improved in recent years due to the advancement of AI-related user engagement. All these factors act as major tailwinds for the growth of the market.
Companies increasingly need solutions that can improve data protection and collection and improve data security. Growing use of internet, smart connected devices powered by Internet of Things (IoT) and smartphones among organizations to manage day-to-day business processes is increasing the market revenue. The COVID-19 outbreak has had a positive impact on the database management platform market.
The market has been on a steady rise over the past few months. Technology providers make substantial investments to foster R&D activities. With the COVID-19 crisis expected to extend beyond 2021 and drive the growth of ad optimization and cross-channel campaigns, the need for database management solutions is expected to increase dramatically in the coming years. .
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Despite strong growth potential, the market is still experiencing major headwinds that are hampering its growth. For example, the lack of skills and professional manpower hampers the growth of organizations.
Database Management Platform Market Segments
The market is segmented into data types, data sources, end users and regions. Data type segment is sub-segmented into first, second and third party data. The data sources segment is sub-segmented into web analytics tools, mobile web, mobile apps, POS data, CRM data, social media and others. The end user segment is sub-segmented into advertising agencies, marketers, publishers and others. The regional segment is sub-segmented into Asia-Pacific, Americas, Europe and Rest of the World.
Database Management Platform Market Regional Analysis
North America leads the global database management platform market. Factors such as strong presence of leading database management solution vendors and well-established technology development centers are driving the growth of the market. Additionally, major market trends include vast technological advancements, substantial R&D investments, and growing demand for advanced database management platform solutions.
Other key factors supporting the growth of the market include growing demand for website analytics solutions to analyze and manage the geographical distribution of website traffic. The growing focus of organizations in the region on improving digital platforms to improve customer experience by enhancing their website operating performance is driving the growth of the regional market.
Database Management Platform Market Competitive Analysis
The database management market is estimated to witness major product launches and several strategic approaches, such as expansion, collaboration, mergers and acquisitions, and product launches. Mature players in the industry are also investing significantly in research and development activities and expansions. The market witnesses several innovative product launches and related technology launches every year. Their venue-based service expansion initiatives and developer partnerships in the emerging database management platform market are contributing to revenue growth.
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For example, on November 03, 2022, Momento, a Canadian start-up provider of a highly flexible and customizable personal database management tool, announced that it had deployed a serverless database to meet the demand variety of database tools applications that require minimal configuration and a reliable backend. The serverless data caching feature will allow Momento to speed up databases. The new platform will allow organizations to scale and accelerate database queries in the cloud without adding additional infrastructure.
In another case, on November 03, 2022, Aerospike Cloud, a leading database provider, announced that it had advanced its core database technology and real-time database service with JSON and Trino support, creating a new database as a service. Platform. The multi-model, NoSQL Aerospike Database 6 enables organizations to cost-effectively process gigabytes to petabytes of data to make real-time decisions with unlimited scale.
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