Database Management System (DBMS) Market is Set to Experience Revolutionary Growth by 2022
iCrowdNewswire Jan 8, 2021 4:03 PM ET
Market Research Future (MRFR) emphasizes in its research report that the global Database Management System market
2020 is projected to rise exponentially over the review period, ensuring a significant market valuation of USD 63 Billion and a healthy CAGR of 8 per cent over the review period.
Drivers and Restrictions
Information Management System is a technology that collects, stores, modifies, and removes data from databases. Growing application areas and high cloud computing adoption among small-scale businesses play a vital role in the growth of the DBMS industry. As the amount of digital content is growing across the world, the need for database centers and consequently cloud storage is expected to increase. The Database Management System plays a critical role in the IT and Communication industry, while the advent of cloud computing to handle huge data also leads to high DBMS adoption in other industries. One of the increasing DBMS application area is in the BFSI and Healthcare industry. Recent studies indicate that BFIS and healthcare sectors are hackers’ primary targets these days, and cloud computing allows these industries to protect and handle their sensitive data on a broader scale.
The demand for Database Management System is guided primarily by factors such as enhanced data sharing, data security, reduced data integration, while high hardware and software costs, high staff training costs, and technical personnel are some of the market’s constraints.
The program for database management was segmented based on modules, forms, implementation, and industry. Includes parts- hardware and software. The market was segmented by category as relational, non-relational, while the industry includes-BFSI, IT & Telecommunication, Aerospace & Security, Media & Entertainment and Healthcare among others-on the basis of delivery (cloud, on-premises) and on the basis of industries. DBMS plays a key role in the IT and telecommunications industry, while the advent of cloud computing also boosts high DBMS adoption in other sectors. The study shows that BFSI and healthcare are more vulnerable to cyber-attacks, and cloud computing allows these sectors to protect and handle their sensitive data on a broader scale.
The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.
Due to the involvement of multinational players that provide US and Canada with a competitive edge, North America dominates the Database management system market. Growing IT industry and high deployment by mid- and large-scale enterprises of cloud computing are some of the major factor driving the North American database management system market. DBMS software’s popularity across North America and Europe is rising largely due to increased digitalization in nearly every sector and high preference for optimum data management solution in those regions. In the DBMS market Europe is showing steady growth. Fast growth in financial sector and healthcare contributes to strong adoption of technology on premises and cloud storage. Asia-Pacific is expected to expand at a rapid pace due to China and India’s increasing manufacturing and BFSI market. In addition, players based in China and Japan invest heavily in developing powerful DBMS systems. In addition, growing focus on implementing better data management solutions across many Asia Pacific organizations is anticipated to bring prominent growth in the DBMS market.
The major market players operating in the global market as identified by MRFR are Microsoft Corporation (U.S), Oracle Corporation (U.S), Embarcadero Technologies (U.S), MarkLogic (U.S), IBM Corporation (U.S), SAP AG (Germany), Hewlett-Packard (U.S), Amazon WebServices (Washington), EnterpriseDB (U.S), InterSystems (U.S), Cloudera (U.S), among others.
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