Overview and Scope
Cloud data management services refer to offering the practice of storing a company’s data at an offsite data center using cloud data management platforms, tools, policies, and procedures. It is used to manage data across cloud platforms.
Sizing and Forecast
The cloud based data management services market size has grown exponentially in recent years. It will grow from $41.19 billion in 2023 to $54.11 billion in 2024 at a compound annual growth rate (CAGR) of 31.4%. The growth in the historic period can be attributed to data explosion and growth, cost efficiency and scalability, globalization of businesses, rise in remote work, focus on data security and compliance.
The cloud based data management services market size is expected to see exponential growth in the next few years. It will grow to $161.63 billion in 2028 at a compound annual growth rate (CAGR) of 31.5%. The growth in the forecast period can be attributed to hybrid and multi-cloud adoption, edge computing integration, focus on data governance and quality, increased demand for real-time analytics, rapid growth in iot data. Major trends in the forecast period include digital transformation initiatives, technological advancements in cloud services, edge computing integration, data security and privacy focus, multi-cloud management solutions.
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Segmentation & Regional Insights
The cloud based data management services market covered in this report is segmented –
1) By Service Type: Integration Services, Data Security and Back-up Services Quality-as-a-Service
2) By Service Model: Software-As-A-Service, Platform-As-A-Service, Infrastructure-As-A-Service
3) By Deployment model: Public Cloud, Private Cloud, Other deployment modes
4) By End-User: Banking, Financial Services and Insurance (BFSI), Manufacturing, Healthcare, Information Technology(IT) And Telecommunication, Retail, Other End-User
North America was the largest region in the cloud-based data management services market in 2023. The regions covered in the cloud based data management services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing deployment of 5G technology is expected to propel the growth of the cloud-based data management services market going forward. 5G refers to the most recent generation of mobile communication networks, which succeeded earlier versions such as 4G (LTE) and 3G. 5G technology can facilitate faster, continuous application delivery, which steers businesses towards services that require faster data transfer capabilities. For instance, in April 2023, according to 5G Americas, a US-based trade group that represents major telecommunications companies and services, global 5G wireless network connections increased by 76% from the end of 2021 to the end of 2022, reaching 1.05 billion. Therefore, the increasing deployment of 5G technology is driving the cloud-based data management services market.
Key Industry Players
Major companies operating in the cloud based data management services market report are Actian Corporation, Cisco Systems Inc., Dell Technologies Inc., EMC Corporation, Fujitsu Ltd., Hewlett Packard Enterprise Development LP, Hitachi Data Systems Corporation, International Business Machines Corporation (IBM), Informatica LLC, NetApp Inc., SAS Institute Inc., Hewlett Packard Enterprise Company L.P., Oracle Corporation, SAP SE, Amazon Web Services Inc., Microsoft Corporation, Google LLC, Snowflake Inc., Teradata Corporation, Accenture plc, TIBCO Software Inc., Cloudera Inc., Experian plc, Alibaba Group, Neo4j Inc., OrientDB Inc., ArangoDB GmbH, Cockroach Labs, ScaleBase Inc., Clustrix
The cloud based data management services market report table of contents includes:
1. Executive Summary
2. Cloud Based Data Management Services Market Characteristics
3. Cloud Based Data Management Services Market Trends And Strategies
4. Cloud Based Data Management Services Market – Macro Economic Scenario
5. Global Cloud Based Data Management Services Market Size and Growth
….
31. Global Cloud Based Data Management Services Market Competitive Benchmarking
32. Global Cloud Based Data Management Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cloud Based Data Management Services Market
34. Cloud Based Data Management Services Market Future Outlook and Potential Analysis
35. Appendix
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