The Database as a Service (DBaaS) Platform Market is expected to

Dallas/Texas, Oct. 28, 2022 (GLOBE NEWSWIRE) — Rising smartphone sales along with growing demand for mobile applications are two of the key factors fueling the boom in the global database platform market as a as a service (DBaaS). Moreover, the world Database as a Service (DBaaS) Platform Market is increasing due to the rapid digitization of services in the banking, financial services and insurance (BFSI) industry, which makes managing the growing amount of data more important than ever. Likewise, the prevalence of chronic diseases is increasing, modern healthcare services are widely used, and individualized preventive care and health management are receiving more attention, leading to an expansion of DBaaS applications in the healthcare industry. .

The global Database Platforms as a Service (DBaaS) Market is expected to grow at a CAGR of 12.65% during the forecast period to reach USD 339.91 Billion by 2029 from its baseline. current value estimated at 141.35 billion USD.

Market scope and details

Metric Values
Historical data 2019-2020
Forecast period 2022-2029
Market value in reference year 2022 $141.35 billion
Market value in 2029 $339.91 billion
Rate of growth CAGR of 12.65%
Segment covered Type, Component, Application, Deployment, Organization, Vertical, Distribution Model, Regions
Regions covered North America, Europe, Asia-Pacific, South America, Middle East and Africa
Key players CenturyLink, Amazon Web Services, Google (Alphabet Inc.), Oracle, IBM, Microsoft Corporation, Rackspace Technology Inc.

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Application owners who want to use a database as a service (DBaaS) rather than manage the database themselves hire a third party to create and maintain a database for storage. A database management system (DBMS) or data store designed as a flexible, scalable, multi-tenant subscription service with some degree of self-administration is referred to as “DBaaS”. Support for this system is provided by a cloud service provider (CSP) or a third-party software vendor on the CSP infrastructure.

With its built-in management features, including logging, key management, and activity tracking utilities, DBaaS makes it easy to configure, monitor, and maintain databases. Additionally, it helps companies manage risk, focusing on targeted consumer advertising and reducing expenses associated with configuring, deploying, and operating database hardware and software. As a result, DBaaS is becoming increasingly popular with SMBs around the world.

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The database as a service platform market is expected to grow rapidly as business demand for these services increases. Due to the demand for structured data in various organizations, the sales of cloud databases and DBaaS are also increasing. Due to the pandemic, the demand for cloud databases, DBaaS and related features is higher. Hence, the global database as a service (DBaaS) platform market is expected to grow rapidly. Businesses must be able to understand and use insights from huge datasets in order to gain competitive advantage. The global database-as-a-service (DBaaS) platform market is growing owing to all these DBaaS advantages, which are driving up the sales of database-as-a-service in many industries.

Contents

1. Introduction

2. Research methodology

3. Market Outlook

4. Database Dbaas Platform as a Service industry by Application, 2022-2030 (USD Million)

5. Database Dbaas Platform as a Service Market by End Users, 2022-2030 (USD Million)

6. Industry by Region 2022-2030 (USD Million)

7. Competitive landscape

8. Company Profiles

9. Appendix

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According to the verticals, the healthcare and pharmaceuticals segment would see the fastest growth over the forecasted period. Data security has long been a top priority for the healthcare industry, as it deals with sensitive patient information and personal health information that needs to be protected. The need to protect an organization’s internal healthcare data is becoming increasingly critical as most healthcare organizations place more importance on protecting customer data than protecting internal data.

Regional analysis

While Asia Pacific is expected to grow at the fastest CAGR over the forecast period, North America is expected to hold the largest market in the Database Platform as a Service market ( DBaaS). North America is expected to use cloud databases and DBaaS the most. The North American market will likely be dominated by the United States and Canada.

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