Cloud databases are used for storing and managing various forms of data and information generated by a company or a group of industries. Cloud databases are suitable for organizations that require fast and easy access to databases at any given time.
Growing demand for flexible and cost-effective database storing solutions, coupled with increasing adoption of cloud based services are major factors boosting growth of the global cloud database market. But, high costs associated with use and data security concerns are major factors hampering growth of the global market
On the basis of type, the global cloud database market is segmented into public type, private type and hybrid type. The public type segment is anticipated to witness significant growth over the forecast period, and is expected to register a CAGR of XX.X%. Also, hybrid segment is projected to witness moderate growth over the forecast period.
The global cloud database market report has been segmented on the basis of application, type, industry vertical, and region. On the basis of region, the global cloud database market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America accounted for highest share in terms of revenue in the global market, and is projected to maintain its dominance over the forecast period. This can be attributed to high adoption of technologies and increasing use of cloud based services in the region. Moreover, various industries adopting cloud based databases for storing data is antler major factor anticipated to propel growth of the North America market over the forecast period. Revenue from the market in Europe accounted for second-highest share and is closely followed by the markets in Asia Pacific, Latin America, and Middle East & Africa respectively. This is attributed to high disposable income and increasing number of industries adopting cloud-based services in the region. Furthermore, the market in Asia Pacific is projected to witness significant growth over the forecast period, and is expected to register a CAGR of XX.X%. Also, the markets in Latin America and Middle East & Africa are projected to witness moderate growth over the forecast period.
Prominent players in the global cloud database market include IBM Corporation, Fortinet Inc., McAfee LLC, Gem alto NV, Oracle Corporation, Impervo Inc. Intel Security Group, Informatics Ltd., Entity Software LLC, Axis Technology LLC.