Database Management Systems Market Will Grow at Highest Pace Owing to Growing Cloud Adoption
The database management system (DBMS) market allows organizations to store, organize, manage and retrieve large volumes of data from a central system. DBMS provides advantages like faster access to data, easier maintenance and retrieval of data as well as enhanced data security. With the rapid digitalization across industries, there has been a surge in the amount of data being generated on a daily basis which needs to be properly analyzed to gain meaningful business insights. This has fueled the need for effective database management systems in recent years.
The global database management system market is estimated to be valued at US$ 64.7 billion in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Global Database Management System Market Size are Novo Nordisk, Sanofi, Eli Lilly, Biocon, Gan & Lee Pharmaceuticals, Tonghua Dongbao Pharmaceutical, United Laboratories, Merck, Wockhardt, Julphar Diabetes, Medtronic, Beta Bionics, Zealand Pharma, MannKind, Peptron, Dexcom, Senseonics, Medtrum Technologies, SOOIL Development, Semma Therapeutics. Novo Nordisk and Sanofi captured more than 50% of the market share in 2023 owing to their well established brand names and diverse product portfolios.
The growing demand for data analytics across industries is fueling the need for effective database management systems. Organizations are increasingly leveraging data-driven insights to gain a competitive edge in the market. This has led to significant demand for DBMS software which can seamlessly handle large volumes of structured and unstructured data.
Various technology giants are expanding their database management system offerings globally to tap into opportunities across international markets. For instance, in 2023 Oracle launched its Oracle Autonomous Database in several Asian and European countries to assist enterprises in easily deploying, running and scaling their databases without human intervention.
Market drivers
One of the key drivers for the database management system market is the increasing demand for data analytics. With digital transformation gaining momentum, businesses across industries like BFSI, retail, healthcare etc are recognizing the importance of extracting meaningful insights from data to enhance business outcomes. This has fueled investments in advanced DBMS solutions that can efficiently store vast amounts of enterprise data and enable analytical capabilities. The ability of DBMS to deliver faster access to critical data for analytics and decision making continues to drive its adoption globally.
Geopolitical Impact on Database Management System Market Growth
The current geopolitical instability and global trade conflicts are impacting international businesses and global supply chains. Rising protectionism and trade barriers are hindering the global expansion of companies in the database management system market. The ongoing tensions between the US and China are leading to policy changes and sanctions, which can disrupt supply chains and technology collaborations between companies. The Russia-Ukraine conflict has further deteriorated the political and economic environment in Eastern Europe. Stable and strategic partnerships will be crucial for database management system providers to navigate geopolitical risks and expand across diverse global markets.
Geographical Regions with High Market Concentration
In terms of value, North America currently dominates the global database management system market, with the US accounting for the largest share. This can be attributed to factors such as high technology adoption, strong presence of leading database companies, and significant investments in big data and cloud technologies by organizations across industries. Asia Pacific is projected to be the fastest growing regional market during the forecast period with countries like China, India, and Japan emerging as major revenue generators. This growth can be powered by the rising digitalization, increasing internet penetration, growing startup culture, and strong government support for technology innovation in emerging Asian economies.
Fastest Growing Region for the Database Management System Market
Asia Pacific region is poised to be the fastest growing regional market for database management systems during the forecast period from 2024 to 2030. This high growth momentum can be credited to the following factors - rapidly expanding digital infrastructure in developing countries, rising internet usage due to proliferation of low-cost smartphones, increasing technology uptake across industries to enhance productivity and efficiency, growing foreign investments in digital transformation initiatives, strong focus of governments to boost data-driven innovations and startup ecosystem, and favorable policies to develop local IT talent pool and support digital services export. Successful implementation of large-scale digital programs coupled with innovation capabilities in the IT sector will fuel the Database Management System demand in Asia Pacific region.
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