The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on DBMS Market. The growth sectors of the Database Management System Market Report are identified with precision for a better growth perspective.
Database Management System is one of computer software application that interacts with the user, capture and analyzes data. Some of the factors such as improved data sharing, data security, backup and recovery, among others are driving the global market of database management systems. DBMS helps to manage data efficiently and allows users to perform multiple tasks easily such as retrieval of data, sharing and transfer. Due to increased security proliferation, organizations are upgrading their traditional data management systems and investing heavily in the field of R&D and DBMS to protect and safeguard confidential information.
The need of deployment such as Cloud-based solution showing rapid growth in recent years and is expected to be a primary driver over the forecast period due to its low cost and benefit, however, factors such as high cost of components as well as appointment of technical staff are some of the major restraints which is likely to hamper the market growth over the period of time.
The prominent players in the Database Management System market- Oracle Corporation (U.S), Embarcadero Technologies (U.S), SAP AG (Germany), IBM Corporation (U.S), MarkLogic (U.S), Hewlett-Packard (U.S), Microsoft Corporation (U.S), Amazon WebServices (Washington), EnterpriseDB (U.S), InterSystems (U.S), Cloudera (U.S), among others.
Some other players in this market are- MariaDB Corporation, Teradata among others.
Market Drivers and Restraints:
The augmented adoption of cloud-computing by small to large-scale enterprises, data security, improved data sharing and efficiency in the management of a large amount of data is generating demand for database management system in the global market. The inclination of organizations towards the adoption of advanced technology over traditional practices is driving the global DBMS market. Widespread usage of DBMS in various sectors such as aerospace and defense, healthcare, educational, government, manufacturing and others is fuelling the expansion of global database management system market.
The cost-effectiveness of the solution, easy accessibility of the data and effective data sharing within the organization are some of the major factors that are inducing the demand for DBMS causing the growth of global DBMS market. Inclination towards the adoption of cloud-based solutions for data management and data security is acting as a boost to the amplification of global database management system market. The incorporation of analytics in DBMS is one of the factors driving the global database management system market. However, the availability of open-source solution is likely to hinder the expansion of global database management system market.
Market Research Analysis:
Market Research Future analysis show that the global market of database management system is estimated to reach at US ~$63 billion by the end of forecasted period. Growing industrialization in Asian countries and high adoption of technology in the business process are pushing the market. For the purpose of this study, Market Research Future has been segmented on the basis of has been segmented on the basis of components, types, deployment and industry. By region North America is expected to account for largest share followed by Europe. Asia-Pacific has emerged as fastest growing sector due to the changing business environment of Asian Countries and government initiatives in order to bring international players in this region. The global database management system market is expected to grow at CAGR of ~8%.
The strategic mergers and acquisitions among the players are fueling the expansion of the global database management system market. The rapid increase in investment of leading players in research and development for launching cheaper and efficient products is fuelling the competition in the global market. The prominent players of the global database management system market are Oracle Corporation (U.S), Embarcadero Technologies (U.S), SAP AG (Germany), IBM Corporation (U.S), MarkLogic (U.S), Hewlett-Packard (U.S), Microsoft Corporation (U.S), Amazon WebServices (Washington), EnterpriseDB (U.S), InterSystems (U.S), Cloudera (U.S), MariaDB Corporation, Teradata and others.
Global Database Management Systems Market is expected to reach at USD 63 billion with stable CAGR…
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