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| Global Database Management System Market |
The global Database Management System Market is estimated to be valued at US$ 56.16 Bn in 2023 and is expected to
exhibit a CAGR of 8.2% over the
forecast period 2023-2030, as highlighted in a new report published by Coherent
Market Insights.
Market Overview:
A database management system (DBMS) refers to software tools and applications
utilized for creating, organizing, maintaining and managing databases. DBMS
enables organizations and individuals to store data systematically and retrieve
information quickly and easily. Features such as querying data, reporting and
generating business insights help in strategic decision making. Along with
this, DBMS provides security to data from unauthorized access and helps ensure
data accuracy across system. It also helps integrate data from various sources
by acting as an interface between users and databases.
Market key trends:
Growing demand for hybrid cloud deployments of database management systems
across enterprises is a major trend witnessed in the Global
Database Management System Market. Hybrid cloud model enables
organizations to leverage both on-premise infrastructure along with public
cloud platforms. This helps enterprises utilize scalability and flexibility of
cloud while maintaining control and security over sensitive data on-premises.
Hybrid DBMS deployment allows migrating of non-critical applications and
workload to public cloud while retaining critical enterprise applications on
private infrastructure. It offers cost benefits of cloud with security and
compliance of on-premise systems.
Porter’s Analysis
Threat of new entrants: Low as the database management system market requires
massive investment and well established distribution channels. Existing players
have advantage of economies of scale
Bargaining power of buyers: Moderate as there are numerous players offering
database management systems giving buyers alternate options. Switching costs
are also moderate.
Bargaining power of suppliers: Low as raw materials required for database
management systems are commonly available and there are many suppliers.
Threat of new substitutes: Moderate threat from upcoming technologies like big
data but database management systems have wide acceptance and adoption across
industries.
Competitive rivalry: High as the market is dominated by technology giants and
there is intense competition based on product differentiation, pricing and
customer service.
Key Takeaways
The global Database Management System market is expected to witness high
growth, exhibiting CAGR of 8.2% over
the forecast period, due to increasing demand for data analytics across
industries. Moreover, growing volume of structured and unstructured data is
driving the need for efficient database management.
The North America region is expected to dominate the market, with the largest
share in the global database management system market during the forecast
period. This is attributed to extensive adoption of advanced technologies
across various industries and presence of major players in the region.
Key players operating in the database management system market include MarkLogic,
Cloudera, IBM Corporation, MariaDB Corporation, Embarcadero Technologies,
Amazon WebServices, Hewlett-Packard, SAP AG, Teradata, Microsoft Corporation
and Oracle Corporation. Key players are focused on strengthening their product
portfolio through mergers, acquisitions and partnerships. They are also
investing in development of industry specific database solutions to expand
their customer base.
Read More: https://www.ukwebwire.com/database-management-system-market-analysis/