Date: Mar 2023
Cloud Based Data Management Services Market worth USD 3,63,962.03 million by 2033
The Market Statsville Group (MSG) publishes the new report on the "Cloud Based Data Management Services Market by Services (Integration Services, Data security and back-up services, Quality-as-a-Service), by Services Model (Software-as-a-Service, Platform-as-a-Service, Infrastructure-as-a-Service), by Deployment, End User, By Region – Global Share and Forecast to 2033
According to the Market Statsville Group (MSG), the global cloud-based data management services market size is expected to grow from USD 20,831.30 million in 2022 to USD 3,63,962.03 million by 2033, at a CAGR of 29.7% from 2023 to 2033.
The cloud-based data management services market consists of sales of cloud based data management services by entities (organizations, sole traders, and partnerships). The use of cloud computing services and applications has received significant attention in recent years, fueling the demand for cloud-based data management services. These services are gaining traction as cloud data management alternatives to antiquated on-premises technologies. Cloud databases and Database as a Service (DaaS) platforms are picking up steam in businesses where on-premises databases were previously the preferred option. Such innovations are having an impact on end-user demand patterns, and prospects in this area are growing.
The market for cloud-based data management services is growing due to increased use of cloud-based installations across sectors. Other factors, including the rise of big data and rising demand for mobility solutions and services, are propelling this industry at a rapid pace. As the demand for cloud-based solutions is increasing across all the verticals the demand for data management is also being observed as high in several verticals.
Global Cloud Based Data Management Services Market Segmentation
The overall cloud based data management services market has been segmented into services, service model, deployment, end user, and region.
- By Services (Integration Services, Data security and back-up services, Quality-as-a-Service)
- By Service Model (Software-as-a-Service, Platform-as-a-Service, Infrastructure-as-a-Service)
- By Deployment (Public cloud, Private cloud, Others)
- By End User (BFSI, Manufacturing, Healthcare, IT & Telecommunication, Retail, Others)
- By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
Public cloud segment is at the highest CAGR during the forecast period
Public cloud segment is expected to grow at the highest CAGR during the forthcoming period. The capabilities of public cloud computing in particular have made the overnight shift to remote working a lot easier. Lockdowns aside, cloud also enables businesses to take advantage of automated backups and heightened data security. Granted, it may seem counter-intuitive that sending clients data off-premises is safer than having it within corporate firewall.
A move to public cloud can result in significant cost savings – eliminating hardware and associated maintenance costs, and reducing expenses related to storage, networking, software licenses and more. Managed services providers can help with cloud cost optimization, with consolidation during a migration and post-migration that includes regular right- and tight-sizing reviews.
The Asia Pacific to account for the highest CAGR during the forecast period
Over the forecast period, the Asia Pacific market is expected to grow rapidly. Several countries in APAC, such as India, China, Hong Kong, and Japan, are undergoing improving economic and technological advancements. In APAC, companies are rapidly outsourcing their IT functions, which has increased the demand for cloud and managed services models. This has resulted in the increasing market of managed cloud services for service providers, networking MSPs, and IT service firms.
This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the cloud based data management services market. It also consists of the profiles of leading companies such as Cisco, International Business Machines Corporation (IBM), Actian Corporation, Dell Inc., Fujitsu, Hitachi Vantara Corporation, Informatica, SAS Institute Inc., HP Development Company, L.P., NetApp, Company 11, Company 12, Company 13, Company 14, and Company 15. The key players' growing research and development activities for launching innovative healthcare devices with advanced features and strategic unions are expected to drive market growth.
About Market Statsville Group
Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.
MSG has an entire repository of research reports on more than 1,000 niche industries, 3,000 high-growth potentials markets, 5,000 data sets, and more than 12,000 company profiles.
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