Cloud-Based Data Management Services Global Market Report 2024 – Market Size, Trends, and Global Forecast 2024-2033
Business Research Company’s Global Cloud-Based Data Management Services Market Report 2024 – Market Size, Trends, and Global Forecast 2024-2033
— Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, August 26, 2024 /EINPresswire.com/ — The cloud-based data management services market has experienced strong growth in recent years, expanding from $41.19 billion in 2023 to $54.11 billion in 2024, a compound annual growth rate (CAGR) of 31.4%. Growth during this historic period is driven by the explosion and growth of data, cost efficiency and scalability, the globalization of business, increased remote working, and a focus on data security and compliance.
Great growth is expected in the future
The cloud-based data management services market is expected to continue experiencing robust growth, reaching $161.63 billion by 2028, at a compound annual growth rate (CAGR) of 31.5%. Growth during the forecast period is driven by hybrid and multi-cloud adoption, integration of edge computing, focus on data governance and quality, increasing demand for real-time analytics, and rapid growth in IoT data.
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What is driving the growth of the cloud-based data management services market?
The cloud-based data management services market is expected to grow further in the future due to the growing adoption of 5G technology. 5G refers to the latest generation of mobile communication networks that replaces previous versions such as 4G (LTE) and 3G. 5G technology enables faster and continuous application delivery, guiding businesses towards services that require faster data transfer capabilities.
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Key Players and Market Trends
Key players in the cloud-based data management services market include Actian Corporation, Cisco Systems Inc., Dell Technologies Inc., EMC Corporation, Fujitsu Ltd., and Hewlett Packard Enterprise Development LP.
Leading cloud-based data management service providers are forming strategic partnerships to help their databases rapidly scale to accommodate growing AI workloads and handle the massive amounts of data generated by AI applications. Partnerships play a key role in delivering comprehensive end-to-end data management solutions for enterprise customers.
Cloud-Based Data Management Services Market Segments:
1) By service type: Integrated services, Data security and backup 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 Telecom, Retail, Other End Users
Geographic insights: North America leads the market
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.
Cloud-Based Data Management Services Market Definition
Cloud data management services refers to providing a way to store company data in off-site data centers using a cloud data management platform, tools, policies, and procedures used to manage data across cloud platforms.
The Business Research Company’s “Global Cloud-Based Data Management Services Market Report 2024” highlights:
Market size data for the forecast period: past and future
• Market analysis by region: Asia Pacific, China, Western Europe, Eastern Europe, North America, US, South America, Middle East and Africa.
• Country-specific market analysis: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and US.
Trends, opportunities, strategies and more.
The Global Cloud-Based Data Management Services Market Report 2024 by Business Research Company is the most comprehensive report that provides insights into the Cloud-Based Data Management Services market size, Cloud-Based Data Management Services market drivers and trends, Cloud-Based Data Management Services market key players, Cloud-Based Data Management Services market competitors revenue, Cloud-Based Data Management Services market positioning, and Cloud-Based Data Management Services market growth across regions. The Cloud-Based Data Management Services market report helps in gaining detailed insights into opportunities and strategies. Companies can leverage the data from the report to enter the segments with the highest growth potential.
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