The cloud-based data management services market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 28.7% during the forecast period, to reach USD 141.7 billion by 2028 from USD 40.2 billion in 2023. The rise in digital transformation and the need for risk and data management is expected to drive the growth of the global cloud-based data management services market.
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By service type, the integration services segment is expected to hold a larger market size during the forecast period.
The integration services considered for the study consist of migration, master data management, data synchronization, and data virtualization. Data integration services are software tools that help organizations collect, transform, and load data from various sources into a unified repository. This process is essential for businesses that need to analyze and extract insights from their data to make informed decisions. Data integration services are in high demand in the cloud-based data management services market due to the growing need to connect data from multiple sources and make it accessible for analysis and decision-making. Data integration services can also be used to automate data flows, which can save time and resources. Companies rely on data integration services to synchronize data from multiple applications, databases, and systems hosted in the cloud, allowing for cohesive analytics, better-informed decision-making, and improved operational efficiency. Notable players in this sphere, such as Informatica, Talend, and SnapLogic, provide robust data integration solutions, empowering businesses to derive actionable insights and gain a competitive edge in the market by leveraging a unified view of their data assets.
By service model, the PaaS segment holds the second-largest market share during the forecast period.
Platform as a Service (PaaS) adoption in the cloud-based data management services market has experienced substantial growth as organizations seek streamlined solutions for application development, deployment, and data processing. Leading cloud providers such as Microsoft Azure, Google Cloud Platform, and Salesforce have witnessed a surge in PaaS utilization. Microsoft Azure’s PaaS revenue increased by 51% in their Q3 2022 results, indicating the strong demand for platform services. With its Heroku platform, companies like Salesforce provide a PaaS environment for developers to build, deploy, and scale applications effortlessly. PaaS offerings benefit data management tasks, providing tools and frameworks for database management, data analytics, and application development. The ease of integration and automation in PaaS solutions streamlines the data management process, allowing organizations to focus on innovation rather than infrastructure concerns. As businesses prioritize agility and efficiency in their data operations, PaaS adoption is poised to play a pivotal role in shaping the future of cloud-based data management services.
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Unique Features in the Cloud-based Data Management Services Market
Scalability is easy with cloud-based data management services, enabling enterprises to grow or shrink in response to changing data requirements. Resources will automatically adapt to handle different workloads thanks to elasticity.
Organisations are freed from the responsibility of managing, updating, and maintaining their infrastructure thanks to the managed services model used by many cloud-based data management providers. As a result, companies are free to concentrate on using data rather than IT.
With the help of cloud data management services, distributed teams may work together on projects and access data from anywhere in the world. This encourages agility and teamwork in a globalised corporate setting.
Having the ability to link with on-premises systems or deploy data management services across various cloud providers gives organisations strategic options to optimise data governance, performance, and costs.
ETL (Extract, Transform, Load) and strong data integration are common features of cloud-based data management systems that make it easier to move and transform data between different objectives and sources.
Major Highlights of the Cloud-based Data Management Services Market
With businesses choosing fully managed cloud-based data management services to offload infrastructure administration responsibilities and concentrate on data utilisation, the managed services model has grown in popularity.
Dispersed teams can easily cooperate on data projects because to the global accessibility offered by cloud-based data management technologies. This is especially important for companies that have staff that are spread out geographically.
The ability to integrate with on-premises systems or deploy data management services across various cloud providers is becoming more and more flexible, giving organisations strategic alternatives for maximising cost, performance, and data governance.
Encryption, access restrictions, and compliance certifications are examples of security features that are given top priority in order to guarantee data protection and regulatory compliance while resolving issues with data privacy and governance.
Businesses may monitor and regulate costs associated with data processing, storage, and transmission by using the cost management and optimisation capabilities provided by cloud data management services.
Top Key Companies in the Cloud-based Data Management Services Market
Major vendors in this market are based in North America, Europe, and Asia Pacific. IBM (US), Fujitsu (Japan), Cisco (US), Dell Technologies, and HPE (US) are among the leading players operating in the cloud-based data management services market. These players in the market are adopting organic and inorganic growth strategies, including new product launches, product enhancements, partnerships, contracts, mergers, and acquisitions, to strengthen their presence in this competitive cloud-based data management services market.
Dell Technologies is headquartered in the US and was formed in September 2016 out of the merger of Dell and EMC Corporation. The company provides personal computers, servers, smartphones, televisions, computer security, network security, computer software, and information security services. It operates through two divisions: Dell Client Solution Group and Dell EMC Infrastructure Solutions Group. In the cloud-based data management services market, the company offers cloud data management solutions, which manage backups, restores, disaster recovery, archiving, and migration for data in a hybrid cloud environment. The company also offers innovative infrastructure solutions to facilitate organizations’ efficient transformation of their business operations with digital technologies. Dell, Dell EMC, Pivotal, RSA, SecureWorks, Virtustream, and VMware work together under the brand of Dell Technologies to empower enterprises with their digital transformation.
Fujitsu Limited, a global ICT company, stands as a powerhouse in the industry, delivering cutting-edge solutions and services to diverse clients worldwide. Founded in 1935, Fujitsu has evolved into a comprehensive technology provider focusing on creating value for its customers through innovation, digital transformation, and a commitment to sustainability. Fujitsu offers e-computing products, cloud computing, and microprocessors. In the cloud-based data management services market, the company provides various data management services with analytical capabilities to meet challenges such as system upgrades, mergers and acquisitions, and data utilization. Fujitsu serves a variety of end-use verticals, including manufacturing, retail, financial services, transport, public sector, and energy & utilities.
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