How Is The Global Relational Database Market Defined?
A relational database is a type of database that stores and provides access to data points that are related to one another. Data is organized into tables (relations), which consist of rows and columns, with each row representing a unique record and each column representing a field within the record. This structure allows for efficient querying and management of data using SQL (Structured Query Language).
Relational Database Global Market Report 2024 provides data on the global relational database market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The relational database market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Projections Exist For The Global Relational Database Market Size And Annual Growth Rates?
The relational database market has seen considerable growth in recent years. It is set to rise from $65.54 billion in 2023 to $74.09 billion in 2024, with a CAGR of 13.1%. The historical growth is driven by the increasing adoption of cloud-based solutions, the demand for real-time analytics, the surge in data generation, the need for business automation, and the expansion of personal computing. The market is expected to grow significantly in the coming years, reaching $121.57 billion by 2028 with a CAGR of 13.2%. This growth is fueled by the increasing volume of data generated, the expanding use of cloud computing, the demand for real-time analytics, the rise of edge computing, and the growing use of data virtualization. Key trends in the forecast period include the integration of AI and machine learning, advancements in technology, the rise of DevOps and continuous integration, innovations in database technologies, and blockchain integration.
Which Key Drivers Are Propelling The Relational Database Market's Growth?
The increasing use of cloud computing is expected to drive the growth of the relational database market in the future. Cloud computing allows on-demand access to a shared pool of configurable computing resources like servers, storage, databases, networking, software, and applications over the internet. This technology is growing in popularity due to its scalability, flexibility, cost-effectiveness, and the ability to access resources remotely. Relational databases in the cloud offer a powerful, scalable, and efficient solution for managing structured data, enabling organizations to utilize advanced database features without the burden of managing physical infrastructure. For example, in December 2023, Eurostat, a Luxembourg-based intergovernmental organization, reported that 45.2% of enterprises in the European Union used cloud computing services, primarily for hosting email systems, storing files, and performing various tasks. Compared to 2021, cloud service purchases among EU enterprises increased by 4% in 2023. Hence, the rising adoption of cloud computing is fueling the growth of the relational database market.
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What Are The Key Segments Within The Global Relational Database Market?
The relational database market covered in this report is segmented –
1) By Services: Training And Consulting Services, System And Network Integration, Deployment And Maintenance
2) By Software: Database Application Builder, Data Scaling And Replication, Backup And Recovery, Database Encryption, Other Softwares
3) By Database: Structured Query Language (SQL) Database, No Structured Query Language (SQL) Database
4) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
5) By End User: Banking, Financial Services And Insurance (BFSI), Government And Public Sectors, Healthcare And Life Sciences, Information Technology (IT) And Telecommunication, Retail, Education, Other End Users
How Are New Trends Impacting The Size Of The Relational Database Market?
Prominent firms in the relational database sector are adopting strategic partnerships to enhance their service offerings and efficiently meet diverse customer needs. Partnerships in this space aim to foster innovation, expand market reach, and integrate technology. For instance, in March 2024, Fauna, a US-based adaptive operational database platform, joined forces with Google Cloud Platform, a US-based cloud service provider, to integrate their technologies. This collaboration allows developers to seamlessly use Fauna's distributed document-relational database within Google Cloud's ecosystem, simplifying the procurement process and facilitating integration with other services.
Which Region Drives The Highest Growth In The Relational Database Market?
North America was the largest region in the relational database market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the relational database market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
