In today’s internet-driven world, storage of data and information is vital for succeeding in the long run and sustaining a healthy economic path and acquiring customer base. Industrial organizations depend on the efficient, widely accessible database service for heightening core tasks and optimizing operative functionalities. The Internet of Things (IoT) revolution and AI incorporation accompanied by virtualization of storage devices increases the execution of more than one task performance and scalability of storage capacity. With the advent of cloud 2.0, business peers and vendors gain equal advantages by embracing digital transformation and boost workflows, consequently driving cloud database market growth across the world. Healthcare administration and the marketing industry primarily indulge in cloud computing services for storage of and for accessing important and regular data focusing on security to eliminate unauthorized breaches of data, applications, and services. The global cloud database market generated revenue of $5.6 billion in 2018, and the overall demand-inflation is estimated to increase at a robust CAGR of 35.5% during the forecast period of 2019-2025. With the emergence of 5G network technology, telecom proprietors are more indulgent towards acquiring secured database solutions to enable faster data transmission and storage facilities and gain more customer interest for this novel project. High speed and increased scalability achieves customer satisfaction, thereby increasing the amount of subscriber-specific tasks which is aided by external and outsourced cloud database services whereof leveraging huge demand generation, which is anticipated to grow at a healthy CAGR of 39.4% through to 2025.
Regional Growth Factors:
North America is the leading contributor to the Global Cloud Database Market and held a share of 35.4% in 2018 facilitated by a large number of healthcare infrastructural facilities, the BFSI industry, government organizations, and an advanced telecommunication portal. According to the American Hospital Association (AHA), 6,210 hospitals are set up in the U.S. which increases the prospect for positive growth of cloud database vendors, since administrative and patient information data requires a reliable database platform which ensures unhindered storage, management, and secured access from any device by healthcare operators simplifying the complex task with cloud database deployment. Additionally, technology companies such as Amazon, Oracle, Google, IBM, and others, are established in America offering wide range of cloud computing services to aid business, corporate, academic, and industrial progress in this region thereby pushing forth the domestic cloud database market growth and demand prospects.
Innovations and Product Launches in The Global Market:
Accomplishment of wider customer satisfaction through new and advanced technological offerings is imperative to every industry’s success. Cloud database service is overwhelming the internet-driven modern world, and offers virtual, hybrid, private, and public cloud deployment models to suit every business organization with newer advancements in technology paving into the global market. Minimizing manual involvement in database services through AI integration lowers task burden on big firms and industries, however, security breach remaining as a permanent threat to these business sectors. IBM Z offers faster and more convenient data protection for cloud databases which is set to push forth the AI-integrated prospects in the niche market in the future years. Redefining data infrastructures is aided by Huawei’s new product launch of AI-Native database GaussDB and FusionStorage 8.0 which is likely to improvise the cloud computing strategies by successfully collaborating data and intelligence for boosting the task simplification of financial, government, and telecom industries and offers self-O&M, self-diagnosis, and self-recovery procedures for next level AI and data algorithms tasks. With cloud on the edge technology rapidly outpacing conventional ways of hardware and local data storage, Oracle’s flagship development of 18c is a breakthrough database management system (DBMS) which offers autonomous database services to eliminate manual errors posed by human interventions. These innovations in cloud database technology proffered by different companies disrupting the global cloud database market demand significantly driving the growth prospects which will continue to propel in the forthcoming years.
Major Investments and Expansion Strategies by Various Companies:
Investments and geographical expansions of their businesses by companies is a major step towards sustaining market competition and securing economic balance in the long run. The cloud database industry is a macroeconomic market where the market players require adequate funding to develop and prosper and generate customer demand. Recently, the U.K.’s leading data platform and services company DSP, raised funding amounting to $12.67m for its MBO by YFM Equity Partners. consequently, improvising their organizational work set up which will considerably influence the database management services, thriving higher demand and business prospects in the global market. Cloud computing is penetrating the ecommerce market , and simultaneously gaining investments from online marketers to remain ahead of the curve by exploiting cloud computing services into their business exponentials. Chinese e-commerce giant Alibaba is set to grow its cloud computing business, and invested $27m in MariaDB, a European database service provider, in 2017. This partnership is likely to boost the cloud database infrastructures and computing algorithms and will flourish the cloud database market in Asian countries in recent years. Similarly, Xanadu Quantum Technologies raised $32m to invest into its upcoming next-generation cloud platform technologies which will include Xanadu’s PennyLane and Strawberry Fields software services.
Advance technology convergence is spurring the global market led by cloud computing revolution in multifarious business sectors owing to which several companies are expanding their regional footprint in many parts the world. Google Cloud expanded its business territories and opened its eighth cloud operations in Seoul, which will benefit both local and multinational companies to set up business activities in the APAC region. Recently, Flexera acquired RISC networks, the SaaS-based cloud platform, to accomplish cloud services and experience a technological boost to augment their business. Expansion, mergers, and investments into cloud computing software technology will generate new avenues for the global cloud database market, which will considerably elevate the scope of opportunities leveraging huge demand over due course of time.
Major Players in the Global Cloud Database Market:
The leading players in the global cloud database market incorporate various strategies for growing their brand image and attracting more customers. Investing immensely in R&D for innovating on newer products with customer-oriented services and solutions is vital for accomplishing huge economic benefits and maintaining healthy competition in the global market. The major players contributing immensely to the global cloud database market include Google Inc., Amazon, Oracle, SAP, Microsoft, IBM, Salesforce, Rackspace Inc., CenturyLink, Computer Science Corporation, and others.
Google Inc. is a leading multinational technology company with massive development and contribution dedicated to cloud infrastructure service and solutions. Google’s Cloud SQL offers easy setup, maintaining, managing, administration, and fully managed backed-up service for application running from any location. Additionally, Google recently launched its novel Cloud-Native NoSQL Database for Cloud Firestore to enhance data backend with complete security and data storage facilities to the users throughout the world which is likely to boost the global cloud database growth prospects in the future years.
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