Enterprise Database Market is Expected to Reach USD 192.94 Billion By 2028
Demand for risk management, rise in regulations and compliance, increase in columnar databases are fueling the growth of the enterprise database market.
Enterprise Database Market Size – USD 83.17 Billion in 2020, Market Growth – CAGR of 11.1%, Market Trends – Enhanced streamline business option.
The global Enterprise Database market is expected to reach USD 192.94 Billion by 2028, according to a new report by Reports and Data. Enterprise data is used by enterprises and large organization to manage their huge collection of data. These databases increase efficiency. It can handle multiple queries simultaneously, and hundreds of users can work on it at a single time. These databases are generally used to strategize, plan, and organize work. By increasing efficiency and decreasing cost, it is very effective within an organization.
A major factor restraining the enterprise database market is the availability of an open source solution. Also,the high cost required to establish the management system also limits the growth of the market in small enterprises. Implementation of the management system requires regular maintenance, security check, and backup. Generation of the huge amount of data in the transport industry is also driving the market growth.
Developed countries have a larger hold in the enterprise database market. North America dominates the market for enterprise database management. The U.S. and Canada are leading the market. Cloud application in these developed regions is boosting the market. This region has some of the leading companies, and they invest in technologies that increase efficiency among its employees.
Some of the key participants in this industry include- SAS Institute Inc., Informatica Corporation, Symantec Corporation, Accenture, IBM Corporation, Teradata Corporation, Oracle Corporation, SAP SE, Intel Security, Talend among others.
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Further key findings from the report suggest
- Data generation has increased at a phenomenal rate over the years due to the advent of digitalization. Introduction of IoT in various sectors is also increasing the volume of data generated. Use of software greatly helps in data analysis.
- Introduction of Cloud-based storage and transfer of data has increased the management of enterprise data tremendously. Application of cloud management has simplified data transfer between employees, and its reliability has increased the number of users overall. The market is boosted by the deployment of the cloud.
- Enterprise database management is used for several functions, but the major application is in data integration and data quality. They each are forecasted to have a CAGR of 12.1% and 12.0% during the forecast period.
- Factors like a validation of data address and data silos are hampering the growth of the enterprise database In the forecast period, as the data maturity model is explored more and more, there is a significant growth probability in the market.
- Healthcare industry has a huge collection of data to store and maintain. These are critical data, and they need to be maintained without any error. With enterprise database gaining popularity, the healthcare segment is more likely to apply it in its sector for data maintenance. The sector is forecasted to have a growth rate of 13.6% during the forecast period.
- North America will dominate the enterprise database market by occupying ~34% of the market. These regions have some of the largest and leading enterprises that have a large amount of data to deal with. These enterprise data needs to be managed, and this, in turn, boosts the enterprise database
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/enterprise-database-market
For the purpose of this report, Reports and Data have segmented the global enterprise database market on the basis of software, service, deployment type, user type, vertical, and region:
Software Outlook (Revenue, USD Billion; 2020-2028)
- Data Integration
- Data Migration
- Data Warehousing
- Data Governance
- Data Quality
- Data Security
- Master Data Management
Service Outlook (Revenue, USD Billion; 2020-2028)
- Soil Consulting Service
- Support and Training Services
- Maintenance and Operation Services
Deployment Type Outlook (Revenue, USD Billion; 2020-2028)
- Hosted Deployment
- On Cloud
User Type Outlook (Revenue, USD Billion; 2020-2028)
- Small and Medium business and Enterprises
- Large Enterprises
Vertical Outlook (Revenue, USD Billion; 2020-2028)
- IT and Telecom
- Energy and Utilities
- Transportation and Logistics
Regional Outlook (Revenue, USD Billion; 2020-2028)
- North America
- Asia Pacific
- Latin America
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