Cloud Based Data Management Services Market worth $141.2 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 23, 2022 /PRNewswire/ -- The Global Cloud Based Data Management Services Market size is expected to grow from USD 34.0 billion in 2022 to USD 141.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 32.9% during the forecast period, according to a new report by MarketsandMarkets™.
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Integration Services to hold the largest market share of Cloud Based Data Management Services Market in 2022.
The integration services considered for the study consists of integration, migration, master data management, data synchronization, data exchange, and data virtualization. Data integration services can also be referred to as cloud data integration, cloud system integration, cloud-based integration, and iPaaS. Cloud data integration services were created to break down data silos, improve connectivity and visibility, and ultimately optimize business processes. Data integration tools are a response to the need to share data among cloud-based applications and unify information components. Cloud integration has gained popularity with the rise in the use of SaaS delivery models. Additionally, more businesses are operating with a hybrid mix of SaaS and on-premises applications, which is creating a need for progressive cloud data integration solutions and services.
Infrastructure-as-a-Service segment to grow at a higher rate during the forecast period.
IaaS represents general-purpose computing resources and is thus capable of supporting use cases of all types. It is mostly used for development and testing environments, customer-facing websites and web applications, data storage, analytics and data warehousing workloads, and back-up and recovery, particularly for on-premises workloads. IaaS is also a good fit for deploying and running common business software and applications. It supports both cloud-native applications and traditional enterprise applications, including ERP and business analytics applications.
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North America holds the largest market size i 2022
North America is one of the fastest-growing economies. It leads the global landscape in technological innovation. Further, industry 4.0 is set to make advancements in the manufacturing industries. The proliferation of digital technologies will continue to bring unprecedented structural changes to the US and Canada. As spending on legacy technology systems declines, growth will be driven by key platforms: cloud, mobile, social, big data, and analytics. Further, the growth in the data center market is also driven by the adoption of big data and analytics and increasing demand for colocation services in the region. This is driving the demand for cloud data management services for data security, compliance, and performance benefits.
The major players for Cloud Based Data Management Services Market includes IBM (US), Fujitsu (Japan), Cisco (US), Dell Technologies (US), HPE (US), NetApp (US), Informatica (US), SAS (US), Actian (US), Oracle (US), SAP (Germany), AWS (US), Accenture (Ireland), Snowflake (New Zealand), Talend (US), Hitachi Vantara (US), Cloudera (US), Teradata (US), Experian (Ireland), Alibaba Cloud (China), TIBCO Software (US), and Cohesity (US).
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