Chicago, April 28, 2023 (GLOBE NEWSWIRE) -- The Cloud based Data Management Services Market size is expected to grow from USD 34.0 billion in 2022 to USD 141.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 32.9% during the forecast period , according to a new report by MarketsandMarkets™. The growth in e-commerce and internet penetration is likely to drive the demand for cloud based data management services during the forecast period.
Browse in-depth TOC on "Cloud based Data Management Services Market"
184 - Tables
48- Figures
232 - Pages
Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=227142592
Scope of the Report
| Report Metrics | Details |
| Market size available for years | 2018-2027 |
| Base year considered | 2021 |
| Forecast period | 2022-2027 |
| Forecast units | Value (USD Million/Billion) |
| Segments covered | Cloud based Data Management Services Market by Service Type (Integration, Security & Back-up, Quality), Service Model (SaaS, PaaS, IaaS), Deployment Mode (Public, Private), Vertical, Region - Global Forecast to 2027 |
| Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Companies covered | IBM (US), Fujitsu (Japan), Cisco (US), Dell Technologies (US), HPE (US), NetApp (US), Informatica (US), SAS (US), Actian (US), Oracle (US), SAP (Germany), AWS (US), Accenture (Ireland), Snowflake (New Zealand), Talend (US), Hitachi Vantara (US), Cloudera (US), Teradata (US), Experian (Ireland), Alibaba Cloud (China), TIBCO Software (US), and Cohesity (US) |
Based on deployment mode, public cloud segment to hold the largest market size in 2022.
The services offered by the public deployment mode are either free or offered under a subscription model. The advantages of using the public cloud include simplicity and ease of deployment. Moreover, the initial investment required for deploying the public cloud is minimum, and there are no responsibilities involved in managing database infrastructure. Public cloud offers various benefits to organizations, and these benefits include scalability, reliability, flexibility, utility-style costing, and location independence services. The major concern over the public cloud is data security, and due to this reason, many enterprises are moving toward the private and hybrid cloud for their cloud data management operations.
Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=227142592
Based on vertical, IT & telecom vertical to hold the second largest market share in 2022.
The rise of the cloud has been a key factor in the evolution of the IT & telecom industry. Cloud technology allows telecommunications providers to store and process their data more efficiently. It can also be used to reduce the amount of hardware and software that needs to be installed and maintained. IT & telecommunication providers can mitigate the risk of losing or damaging sensitive data. Organizations are looking for hybrid cloud solutions to manage data.
Europe to hold significant share of Cloud based Data Management Services Market in 2022.
The region is the second-largest contributor to the global market. It has stringent data management regulations, which ensure that the region is at the forefront of driving innovations based on data. Businesses will benefit from a reduction in costs for acquiring, integrating, and processing data and from lower barriers to entering the markets. Countries such as the UK have implemented such regulations to maintain the security and privacy of data. Additionally, the region has witnessed the adoption of optimized cloud based solutions to enable SaaS-based applications and ensure flexibility. Further, SMEs form the backbone of the UK economy. The growing business of SMEs, especially in the information and communication sectors, is expected to drive the market during the forecast period.
Key Players
The major players for Cloud based Data Management Services Market includes IBM (US), Fujitsu (Japan), Cisco (US), Dell Technologies (US), HPE (US), NetApp (US), Informatica (US), SAS (US), Actian (US), Oracle (US), SAP (Germany), AWS (US), Accenture (Ireland), Snowflake (New Zealand), Talend (US), Hitachi Vantara (US), Cloudera (US), Teradata (US), Experian (Ireland), Alibaba Cloud (China), TIBCO Software (US), and Cohesity (US).
Frequently Asked Questions (FAQ)
What is the projected market value of the global Cloud based Data Management Services Market?
The global market of cloud based data management services is projected to reach USD 141.2 billion
What is the estimated growth rate (CAGR) of the global Cloud based Data Management Services Market for the next five years?
The global Cloud based Data Management Services Market is projected to grow at a Compound Annual Growth Rate (CAGR) of 32.9% from 2022 to 2027.
Browse Adjacent Market: Cloud Computing Market Research Reports & Consulting
Related Reports:
Cloud Computing Market - Global Forecast to 2027
Edge Computing Market - Global Forecast to 2027
Infrastructure as Code (IaC) Market - Global Forecast to 2027
Cloud Storage Market - Global Forecast to 2027
Cloud-Based Contact Center Market - Global Forecast to 2027
