Database Management Platform Market Scope

Global Database-Management-Platform Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The global database-management-platform market is estimated to garner a revenue of ~USD 159 billion by the end of 2031 by growing at a CAGR of ~12% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 82 billion in the year 2021. Businesses recognizing the importance of data is the primary factor driving the growth of the global database-management-platform market. Approximately 96% of C-level executives consider data an essential component for business strategy formation.

GET A SAMPLE COPY OF THIS REPORT
 

Businesses also identify reasons for errors, focus on information placed in the cloud & on-premises, and try to strengthen internal organizational databases through enhanced data management platforms. Approximately 50% of organizations consider human errors the biggest reason for data inaccuracies, and nearly 90% of C-level executives acknowledge that inaccurate data cripple their ability to deliver excellent customer experience. Further, ~62% of organizations believe that bettering their relationship with their customers helps them in the competition. Thus, organizations seeing data as an asset, taking steps to secure it, and innovating the management process are some factors implying growth in the global database-management-platform market forecast.

Global Database-Management-Platform Market: Growth Drivers and Challenges

Growth Drivers

• Considerable Rise in Cyber Crimes and Data Hacking - The rise in cyber crimes has resulted in organizations investing more in robust database management systems. It has been estimated that more than 86% of organizations were compromised by at least one successful cyber-attack in 2021. As per calculations in 2018, hacker attacks happen approximately every 40 seconds. A significant rise has been observed in the incidences of unique crimes. For instance, in 2018, it was observed that there was an increase of ~351% in the number of ransomware attacks. Similarly, spear phishing incidences have risen by ~81%. The primary goal of more than 95% of cybercrime groups is data gathering. Within half a day, close to 90% of professional hackers succeed in infiltrating an organization. These circumstances create much demand for strong and secure databases, thereby driving the global database-management-platform market.

• AI-infused Tools Accelerating the Business Process - Another factor driving the market growth is the increased use and significance of artificial intelligence (AI) in businesses. As of 2021, ~87% of CEOs acknowledged AI as the mainstream technology in their office. Further, investments are made regularly in AI by ~92% of leading businesses.

• Rapid Growth of the Internet of Things (IoT) - Data management systems can be used to merge data from IoT devices and categorize users into separate groups according to performance patterns. In 2021 the number of active IoT devices was approximately 11 billion. This number is estimated to surpass 25 billion in 2030.

• Ever Increasing Significance of Advertisement – Approximately 50% of consumers have been estimated to respond positively to receiving promotional emails from brands they favor. Similarly, about 85% of consumers expect brands to perform content creation. Database management platforms provide target audience data for better content creation.

• Considerable Increase in the Digitization of Businesses - As more organizations transform digitally, more data gets stored in the cloud, thus increasing the need for database-management platforms. It is estimated that ~90% of all enterprises have already taken up a digital-first business strategy.

Challenges

• Dependency on Other Technologies

• Local Broadcasters Being Unable to Collect Data of Target Audience of Their Advertisers

• Lack of Competence Among the Work Force

The global database-management-platform market is segmented and analyzed for demand and supply by deployment into the cloud and on-premise. Between these, the cloud segment is anticipated to hold the largest market size by the end of 2031. With modifications for the demands of a cloud, the cloud-based data management system function just like a standard data management system and can be used for backup, long-term archiving, and disaster recovery. With it, it is easy to purchase resources as needed.    For these reasons, businesses are adopting cloud-based storage systems more than in the past. It is estimated that cloud service is already being used by ~95% of enterprises. More than 65% of organizations already hold a cloud center of excellence or a central cloud team, and cloud computing constitutes ~31% of all allocated IT budgets. Further, it is projected that by 2025 more than 99 Zettabytes of data should be stored in cloud data centers. This rapid growth of cloud data storage points to an optimistic global database-management-platform market forecast.

Global Database-Management-Platform Market Regional Synopsis

Regionally, the global database-management-platform market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North American region is projected to hold the largest market share by the end of 2031. One of the main reasons for the market growth is the rise in cybercrimes in different parts of North America. For instance, from 2017 to 2018, cybercrimes increased by ~30% in the United States (U.S.). It has been observed that about 85% of phishing attacks target companies in the U.S. Similarly, it is the land with the highest number of botnet servers covering more than 2200 of the total botnet servers in the world. Small businesses in the U.S. that have fallen prey to cyber-attack constitute ~51%. Another reason is the growing information technology (IT) industry in North America. The U.S. government scored the highest with a 100% score on AI vision in the 2020 government artificial intelligence (AI) readiness index ranking. Similarly, cloud-based services are being used by about half of the U.S government organizations. These, along with a growing media audience, are the factors driving the growth of the database-management-platform market in North America.

Customize this Report: Request Customization

Market Segmentation

Our in-depth analysis of the global database-management-platform market includes the following segments:

Key Companies Dominating the Global Database-Management-Platform Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global database-management-platform market that are included in our report are Adobe, Oracle, Neustar, Inc. (TransUnion), SAP SE, Lotame Solutions, Inc., Informatica Inc., Cloudera, Inc., BMC Software, Inc., InterSystems Corporation, IBM, and others.

Global Database-Management-Platform Market: Latest Developments

• August, 2022: Neustar, Inc. (TransUnion) - announced natively launching Neustar Unified Identity on Snowflake Marketplace. With this application Neustar developed in partnership with Snowflake, a customer can carry out advanced identity resolution without leaving Snowflake Media Data Cloud.

• June, 2022: Adobe - announced innovating its customer data platform (CDP) to facilitate enriched customer profiles, novel privacy and security tools, and AI-powered targeting. With segment match in the new Adobe Real-Time CDP innovations, global brands can easily transition to first-party data from third-party cookies.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.