New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cloud Based Data Management Services Global Market Report 2023" - https://www.reportlinker.com/p06466698/?utm_source=GNW
, SAS Institute, HP Development Company L.P., Oracle, SAP SE, and Amazon Web Services Inc.
The global cloud based data management services market is expected to grow from $31.33 billion in 2022 to $41.19 billion in 2023 at a compound annual growth rate (CAGR) of 31.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cloud based data management services market is expected to reach $121.92 billion in 2027 at a CAGR of 31.2%.
The cloud-based data management services market includes revenues earned by companies by providing data storage and data management using cloud services such as user self-provisioning, dynamic provisioning, and advanced provisioning.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Cloud data management services refer to offering the practice of storing a company’s data at an offsite data center using cloud data management platforms, tools, policies, and procedures. It is used to manage data across cloud platforms.
North America was the largest region in the cloud based data management services market in 2022. The regions covered in cloud-based data management services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of cloud-based data management services are integration services, data security, and backup services quality-as-a-service.Integration Services refers to a specialized application that provides a control flow for performing work that is tangentially related to data flow, including renaming and downloading files, dropping and creating tables, performing backups, rebuilding indexes, and any other number of tasks.
The various service models include software-as-a-service, platform-as-a-service, and infrastructure-as-a-service. The various deployment model includes public cloud, private cloud, and others, that are used by various end-users such as banking, financial services and insurance (bfsi), manufacturing, healthcare, information technology(it) and telecommunication, retail, and others.
Technological advancements are a key trend gaining popularity in the cloud-based data management services market.Major companies operating in the cloud-based data management services market are adopting innovative technologies to strengthen their position in the market.
For instance, in April 2020, Actian, a US-based hybrid cloud software company, launched Avalanche, a real-time connected data warehouse solution. This hybrid solution is the first-ever cloud data warehouse that offers complete integration capabilities that allow enterprises to control and make use of their diverse data sources both in the cloud and on-premises for use in high-performance analytics inexpensively and rapidly.
Technological advancements are a key trend gaining popularity in the cloud-based data management services market.Major companies operating in the cloud-based data management services market are adopting innovative technologies to strengthen their position in the market.
For instance, in April 2020, Actian, a US-based hybrid cloud software company, launched Avalanche, a real-time connected data warehouse solution. This hybrid solution is the first-ever cloud data warehouse that offers complete integration capabilities that allow enterprises to control and make use of their diverse data sources both in the cloud and on-premises for use in high-performance analytics inexpensively and rapidly.
In September 2021, Hewlett Packard Enterprise (HPE), a US-based company that provides cloud-based data management services, acquired Zetro for $374 million.Through this acquisition, HPE GreenLake edge-to-cloud platform positions itself in the data protection market and drives HPE’s storage business into a cloud-based data services business, making available Zerto cloud data management and protection software as a standalone service and via HPE GreenLake and Data Services Cloud Console.
Zetro is an Israel-based cloud data management and protection company.
The countries covered in the cloud-based data management services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cloud-based data management services market research report is one of a series of new reports that provides cloud-based data management services market statistics, including cloud-based data management services industry global market size, regional shares, competitors with a cloud-based data management services market share, detailed cloud-based data management services market segments, market trends, and opportunities, and any further data you may need to thrive in the cloud-based data management services industry. This cloud-based data management services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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