PUBLISHER: The Business Research Company | PRODUCT CODE: 1429388
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429388
Database software is specifically crafted for the creation of databases and the efficient storage, management, search, and retrieval of information.
The primary categories of database software include database operation management and database maintenance management. Database operation management pertains to software designed for the development and support of structured data, aiming to optimize the value of data throughout the enterprise. This type of database software finds application in various sectors such as BFSI (banking, financial services, and insurance), IT and telecommunications, media and entertainment, healthcare, aerospace & defense, and other end-users. Deployment methods include both cloud-based and on-premises solutions.
The database software market research report is one of a series of new reports from The Business Research Company that provides database software market statistics, including database software industry global market size, regional shares, competitors with a database software market share, detailed database software market segments, market trends and opportunities, and any further data you may need to thrive in the database software industry. This database software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The database software market size has grown rapidly in recent years. It will grow from $162.25 billion in 2023 to $186.97 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth observed in the historical period can be credited to advancements in technology, the process of digitization, economic expansion, and the enhanced user-friendliness of software.
The database software market size is expected to see rapid growth in the next few years. It will grow to $332.77 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The anticipated growth in the forecast period can be linked to the surge in data volume and the rise of data-driven businesses. Notable trends expected during this period include allocating resources to enhance security against cyber threats, expanding the product lineup to include mobile-friendly versions, providing products and solutions through subscription or pay-per-usage payment models, and investing in hybrid transactional/analytical processing (HTAP) systems.
In today's data-driven environment, businesses relying on various data types for analysis and future decision-making must have seamless and straightforward data storage capabilities. The global expansion of data-driven enterprises and e-commerce firms will be a significant catalyst for driving the database software market. As indicated by Forrester, companies utilizing database management software tools for decision-making are 58% more likely to surpass their revenue goals compared to non-data-driven counterparts. Hence, the continuous growth of data-driven businesses is a key driver for the database software market.
The anticipated growth of the database software market is further fueled by the increasing frequency of cyberattacks. Cyberattacks involve unauthorized attempts to access personal computers, computing systems, or computer networks with the intent to cause harm. Database software is commonly exploited in cyberattacks to scan databases for known vulnerabilities and assess associated risks. For example, in the fiscal year 2021-22, the Australian Cyber Security Centre reported receiving over 76,000 cybercrime reports, marking a roughly 13% increase from the previous fiscal year. This escalating trend in cyberattacks is a significant factor driving the growth of the database software market.
As Big Data gains prominence, companies in the database software sector are directing their efforts toward creating products tailored for the storage and processing of large datasets. SQL or NoSQL databases serve as essential tools for storing, processing, and analyzing Big Data, facilitating organizations in extracting valuable insights and patterns to make informed decisions. Database software companies are actively investing in enhancing features to enable quicker and more efficient management of substantial data volumes. Key players in the market, such as AWS DynamoDB, Azure Cosmos DB, and Amazon DocumentDB, contribute to the landscape of major database software tools.
Prominent companies in the database software market are concentrating on the development of innovative technologies, exemplified by the creation of self-developed cloud databases, to deliver reliable services to their customers. A self-developed cloud database, stored and managed on a cloud platform by the owning organization, is a strategic focus. For instance, in June 2023, Huawei Technologies Co Ltd., a China-based ICT infrastructure provider, introduced GaussDB. GaussDB, a high-performance database service designed for analytical workloads, boasts scalability, reliability, and performance. This powerful and versatile cloud database service is capable of scaling to support millions of concurrent users and process billions of transactions per second.
In October 2021, Rocket Software, a US-based software development firm, acquired Zumasys Inc.'s database and tools products for an undisclosed amount. This strategic acquisition positions Rocket to innovate and offer products at scale. Zumasys Inc., based in the US, is a provider of MultiValue database software.
Major companies operating in the database software market report are Oracle Corporation, Microsoft Corporation, IBM, SAP SE, Amazon.com Inc., Teradata Corporation, MongoDB, Mark Logic, Couch Base, Redis Labs Ltd., Fujitsu, Amazon Web Services (AWS), Rocket Software, Pivotal, Software AG, PingCAP, Huawei, Datastax, InterSystems, SQLite, MariaDB, ScienceSoft, AI Software, SoftwareONE, Cyber Infrastructure Inc., 2Base Technologies Pvt. Ltd., Webtonic Solutions, Cygnet Infotech LLC
North America was the largest region in the database software market in 2023. Asia-Pacific was the second largest region in the global database software market. The regions covered in the database software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the database software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The database software market includes revenues earned by entities by developing and distributing software that are used to develop, modify, and maintain database records and files. This software enables users to store data in the form of tables, fields and columns and recover them directly and/or through programmatic access. Database software is used for several reasons ranging from compiling client lists, maintaining bookkeeping tasks to running online web site. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Database Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on database software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for database software? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The database software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.