DBaaS: Key market research findings
- Need for disaster management drives the market growth
- Increased adoption of mobility solutions in the market
- Key vendors—Amazon Web Services, IBM, Microsoft, and Oracle
The market research analysts at Technavio predict the global DBaaS market to reach almost $14 billion in revenue between 2016 and 2020. The need for effective disaster management is the primary driving force behind growth in this market. Database-as-a-service (DBaaS) comprises database management solutions that include integrated cloud backup for off-site storage and automated physical to virtual backup of data in case of a server failure. Such solutions enable comprehensive backup to protect physical and virtual systems, especially in disastrous situations. During 2015, the Americas dominated the global DBaaS market by accounting for more than 55% of the market space. The market in this region is flourishing due to an upsurge in the adoption of cloud database technologies to improve risk management and focus on customer targeted marketing abilities by several companies. The increased adoption of DBaaS solutions in the US owing to high penetration and substantial investment for expansion by retail giants such as eBay, Amazon, Yahoo, and Google is projected to propel growth of the DBaaS market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the DBaaS segments by end-users.
“An increase in the deployment of mobility solutions is an ongoing trend in the market. Enterprises are increasingly adopting DBaaS solutions that allow access to data anytime and anywhere due to the ubiquity of mobile devices such as smartphones and tablets. The adoption of such solutions makes it possible for enterprises to access enterprise documents through smart devices. They allow the working professionals in an organization to effortlessly access and exchange organizational documents from remote locations as per their requirements,” says Amit Sharma, Lead Analyst, ICT, Technavio Research.
The banking, finance, and insurance services (BFSI) segment dominated the global DBaas market in 2015 with over a 21% stake in the market share. The demand for DBaaS solutions in this vertical is spurred by the enormous volume of transactional data being generated. Financial institutions are also under the pressure to enhance the security of sensitive financial information due to the tightening of financial regulation compliances. The need to minimize compliance costs and risks is steering the outsourcing of database management to cloud service providers in the BFSI sector.
The key vendors in the global DBaaS market include Amazon Web Services, IBM, Microsoft, and Oracle. 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.
A more detailed analysis is available in the Technavio report, Global DBaaS Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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