MarketsandMarkets forecasts the cloud database market size to grow from USD 12.0 billion in 2020 to USD 24.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.7% from 2020 to 2025. The rising need for self-driving cloud databases and growing demand to process low-latency queries are expected to increase the adoption of cloud database and DBaaS across the globe during the forecast period.
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The cloud database and DBaaS market includes major vendors, such as Google (US), Microsoft (US), AWS (US), IBM (US), Oracle (US), Alibaba Cloud (China), SAP (Germany), MongoDB (US), EnterpriseDB (US), Redis Labs (US), Tencent (China), Rackspace (US), Teradata (US), CenturyLink (US), Neo4j (US), DataStax (US), TigerGraph (US), MariaDB (US), RDX (US), and MemSQL (US). These players have adopted different growth strategies to expand their global presence and increase their market shares. New product launches and partnerships/collaborations are some of the important strategies adopted by the major players to grow further in the cloud database and DBaaS industry.
AWS (US) is recognized as one of the leading vendors in the cloud database and DBaaS market. It offers various web-based services to augment the efficiency of different businesses across the globe. The company is a pioneer in providing infrastructure platforms in the cloud, which is its greatest strength. It further offers the flexibility of choosing from its vast platform solutions as per the needs of the enterprises, and its pay-as-you-go model also boosts its value proposition among the enterprises. The company provides competent solutions at comparatively lower prices, thus, providing a competitive advantage to it. It focuses on upgrading its product offerings to extend its customer base and gain a competitive advantage. AWS focuses on organic and inorganic growth strategies. For instance, in February 2019, AWS collaborated with Lyft. Lyft leveraged AWS services, such as Machine Learning (ML), database, and analytics. Lyft relies on Amazon DynamoDB, which delivers high performance to assist mission-critical workloads, including ride-tracking system.
Microsoft (US) is an American multinational technology and consulting firm. In the cloud database and DBaaS market, Microsoft offers Azure Structured Query Language (SQL) Database and Azure Cosmos DB. Azure SQL Database is a fully managed relational database that is also an intelligent and scalable cloud database service that offers the broadest SQL server engine compatibility. It also offers other features, such as frictionless migration, built-in ML, high availability, and advanced security. Azure Cosmos DB is a multi-modal, fully managed non-relational database service. It is globally distributed over multiple Azure regions. It also provides scalability, high availability, consistency, and low latency.
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