Global Database-as-a-Service (DaaS) Market Highlights over 2022 – 2030
The global database-as-a-service (DaaS) market is estimated to grow at CAGR of ~18% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to presence of large volumes of numbers and data in almost every industry, along with the increasing demand for security for the data. Deployment of DBaas of database as a service can reduce risk of data theft and privacy breach, induce better consumer relations, and offers updates time to time. This is estimated to raise the demand for DBaas in the upcoming years. Moreover, growing technological research and innovation, and upgrades in software and services are estimated to further boost the market growth. Growing penetration of internet, installation of cloud servers, and usage of smartphones are crucial factors estimated to act as growth drivers for the market. According to 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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The market is divided by deployment type into on-premise, and cloud-based out of which, the cloud-based segment is anticipated to hold the largest share in the global database as a service market over the forecast period on account of increasing penetration of cloud computing and dependance on cloud-based database. Various major companies rely on cloud computing technology to access the large volumes of data, which is estimated to boost the market growth. On the basis of end-user, the market is segmented into BFSI, healthcare and others. Among these the BFSI (Banking, financial services and insurance) segment is estimated to gain notable growth over the forecast period, owing to the big numbers involved in the BFSI sector, along with increasing demand to ensure safe access of the data.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Database-as-a-Service (DaaS) Market Regional Synopsis
On the basis of geographical analysis, the global database-as-a-service (DaaS) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of high adoption of cloud computing amongst the tech-savvy population of Canada and the U.S., along with presence of major market players in the region. Moreover, adoption of Artificial Intelligence (AI), Machine Learning, and IoT are estimated to boost the regional market growth.
The market in the Asia Pacific region is estimated to hold significant share and grow at the highest CAGR during the forecast period, owing to the increasing penetration of technology, such as, cloud computing and IoT, backed by technological advancement in the developing countries.
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The global database-as-a-service (DaaS) market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Our in-depth analysis of the global database-as-a-service (DaaS) market includes the following segments:
By Deployment Type
- Cloud Based
- On Premise
By Organization Size
- Large Enterprises
- Involvement of Big Numbers in the Working of Various Sectors
- Increasing Penetration of Cloud Computing
- Threat with Data Theft and Leaks
- High Capital Investment
Top Featured Companies Dominating the Market
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Redis Ltd.
- Oracle Corporation
- Google LLC
- Microsoft Corporation
- Amazon Web Services