Global Cloud Based Data Management Services Market Size 2024, Forecast To 2033
6 Mar, 2024
The cloud-based data management services market size has grown exponentially in recent years. It will grow from $41.19 billion in 2023 to $54.11 billion in 2024 at a compound annual growth rate (CAGR) of 31.4%. The growth in the historic period can be attributed to data explosion and growth, cost efficiency and scalability, globalization of businesses, rise in remote work, focus on data security and compliance. The cloud-based data management services market size is expected to see exponential growth in the next few years. It will grow to $161.63 billion in 2028 at a compound annual growth rate (CAGR) of 31.5%. The growth in the forecast period can be attributed to hybrid and multi-cloud adoption, edge computing integration, focus on data governance and quality, increased demand for real-time analytics, rapid growth in IoT data. Major trends in the forecast period include digital transformation initiatives, technological advancements in cloud services, edge computing integration, data security and privacy focus, multi-cloud management solutions.
Global Cloud Based Data Management Services Market Key Driver
The cloud-based data management services market is set to witness substantial growth, propelled by the increasing deployment of 5G technology worldwide. 5G, the latest generation of mobile communication networks, offers unparalleled speed and connectivity, facilitating rapid data transfer and continuous application delivery. As reported by 5G Americas in April 2023, global 5G wireless network connections surged by 76% from the end of 2021 to the end of 2022, reaching a staggering 1.05 billion connections. This exponential growth in 5G adoption drives businesses towards cloud-based data management services, leveraging the enhanced capabilities of 5G technology for seamless data processing and storage.
Get A Free Sample Of The Global Cloud Based Data Management Services Market ReportGlobal Cloud Based Data Management Services Market Segments
The cloud based data management services market covered in this report is segmented –
1) By Service Type: Integration Services, Data Security and Back-up 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 Telecommunication, Retail, Other End-User
By Geography:The regions covered in the cloud based data management services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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
Major Cloud Based Data Management Services Industry Players
Actian Corporation, Cisco Systems Inc., Dell Technologies Inc., EMC Corporation, Fujitsu Ltd., Hewlett Packard Enterprise Development LP, Hitachi Data Systems Corporation, International Business Machines Corporation (IBM), Informatica LLC, NetApp Inc., SAS Institute Inc., Hewlett Packard Enterprise Company L.P., Oracle Corporation, SAP SE, Amazon Web Services Inc., Microsoft Corporation, Google LLC, Snowflake Inc., Teradata Corporation, Accenture plc, TIBCO Software Inc., Cloudera Inc., Experian plc, Alibaba Group, Neo4j Inc., OrientDB Inc., ArangoDB GmbH, Cockroach Labs, ScaleBase Inc., Clustrix
Get The Full Global Cloud Based Data Management Services Market Report
Cloud Based Data Management Services Market Overview
Cloud data management services refer to offering the practice of storing a company’s data at an offsite data center using cloud data management platforms, tools, policies, and procedures. It is used to manage data across cloud platforms.
Cloud Based Data Management Services Global Market Report 2023 provides data on the global cloud based data management services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cloud based data management services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.