Overview of the database as a service (DBaaS) market
Extensive research carried out by market research analysts at Technavio has shown that database as a service (DBaaS) market will witness exponential growth and will post an impressive CAGR of more than 65% over the forecast period. Without the availability of DBaaS, companies across various industries are forced to rely on hardwareservers that need a lot of resources. This dependency on hardware resources will lead to an increase in their overall operating costs. Therefore, instead of investing large amounts in hardware technologies, companies are more inclined to invest in pay-as-you-go services with a weekly, quarterly, or annual cloud computing subscription. Moreover, shifting to cloud computing lowers costs by pooling resources that can be distributed to applications as needed. Cloud computing not only helps companies scale up or down when needed but also helps them manage maintenance costs accordingly.
In this industry research report, our analysts have deduced factors such as the increasing adoption of mobile devices and smartphones and the rising popularity of mobile apps to prompt several companies to use DBaaS. Moreover, the ubiquity of smart devices has prompted enterprises to adopt solutions that allow access to real-time data. Also, the adoption of these mobility solutions will help organizations access enterprise documents through smart devices and will enable working professionals to seamlessly access and exchange organizational documents from remote locations as per their requirements. The ease of access and transfer of data will lead to the growth of this market over the next four years.
Segmentation by end user and analysis of the DBaaS market
During 2015, the BFSI sector dominated the market and accounted for more than 21% of the market share in terms of revenue. The BFSI sector is actively becoming an information-intensive sector as most products and services in the banking sector have become digital in nature. Some of the most important transaction processes such as electronic fund transfer, interbank settlement, and securities trading are now completely digitized. With an increase in financial transaction volumes, financial firms are experiencing explosive data growth. Therefore, the growing need to manage this exponential surge in data will contribute to this segment’s growth prospects until the end of 2020.
Geographical segmentation and analysis of the DBaaS market
The Americas led the global DBaaS market and accounted for nearly 60% of the market share during 2015. Most industries in the region have adopted cloud technologies to improve risk management and focus on customer targeted marketing abilities. The growth of this market in the region is attributed to the rapid increase in data generation across industry verticals such as BFSI, healthcare, retail, and public. Additionally, organizations also invest in latest digital technologies such as cloud, mobility, analytics, and social media to stay ahead in the market.
Competitive landscape and key vendors
The global DBaaS market is highly fragmented due to the presence of many large and small vendors. The level of competition among the existing vendors is expected to intensify during the forecast period as different vendors foray into the market space. To grow, vendors should provide value-added services such as consultancy, integration of solutions, support and maintenance, and end-user training to address available opportunities and risks.
The leading vendors in the market are -
Amazon Web Service
Other prominent vendors in the market are Accenture, CenturyLink, CSC, EMC, Google, HOSTING, HP, Rackspace, Redcentric, Salesforce.com, SAP, and Tesora.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global DBaaS market?
What are the key market trends impacting the growth of the global DBaaS market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global DBaaS market?
What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the global DBaaS?
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