Global Cloud Database and DBaaS Market Size is Anticipated To Reach 57.5 Billion By 2028 By CIOTechOutlook Team

Global Cloud Database and DBaaS Market Size is Anticipated To Reach 57.5 Billion By 2028

CIOTechOutlook Team | Saturday, 22 July 2023, 02:18 IST

The market for cloud databases and DBaaS is anticipated to reach USD 57.5 billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 22.0% throughout the forecast period from USD 21.3 billion in 2023. Cloud, DBaaS, and SaaS-based solutions that offer mobile accessibility and other user-friendly services are replacing on-premises solutions as businesses steadily move away from them. Targeting companies of various sizes, the model's affordability addresses unique database requirements. These systems often offer quick service deployment and affordable options.

One client uses a private cloud, which is a cloud computing environment. This approach combines a lot of the benefits of cloud computing with the control and management of on-premises IT infrastructure.

Internal hosting and firewalls ensure the privacy and security of data in the private cloud. Furthermore, it ensures that third-party suppliers are unable to access confidential or essential data.

The primary factors propelling the market's growth are an increase in the usage of cloud database services and a large rise in enterprise data in the region's small and medium businesses.A significant opportunity for market expansion is also presented by the growing adoption of digital solutions in a number of countries, including China, Japan, and India.

The Asia-Pacific area is home to numerous different countries and populations.Nearly 60% of the world's population resides in this region.

Although it is broken up into numerous divisions, some of the important countries in this region include Australia, Japan, China, and Singapore.There are more countries on the list, but these are only a few of the most well-known ones.