The global database management system market is expected to observe steady growth over the forecast period owing to extensive computer use in industries. Information use in organizations is expected to drive the information processing need streamlining techniques across diverse departments.
Novel format development which has progressed from linked devices including smartphone information is supposed to boost the market demand over the forecast period. Growing abundant knowledge environment is anticipated to increase further the industry demand over the forecast period.
Enterprise considering to gain vision in the business believes in making investments in information assets and database management resources. Tools have been used for obtaining insights that aid in increasing operational efficiency.
Database management advantage includes sharing, consistency, integrity, and governing information redundancy. Better quality insights can be achieved with the help of database management system, which enhances productivity and decision making.
Database management system has given rise to multiple fields including testing, security, and analytics. Testing deals with checking of applications for its efficient working before selling it to the customer. Information security mainly deals with the threats present in the industry.
Data Analytics has been the growing field and a variety of insights are being drawn with the help of such significant magnitude data. Database management system also provides information privacy and security framework.
Increasing fraud cases in the organization have made it necessary to build a robust database system. These data files consist of confidential customer information and office records. Leakage spoils the organization’s reputation and therefore such factors are forcing companies to invest heavily in the field of database management system to protect and safeguard confidential information.
Cloud-based solution has seen rapid growth in recent years and is expected to be a primary driver over the forecast period owing to its low cost and added benefits. These solutions are expected to become familiar on account of increasing users accessing social media and the internet.
Technological improvement gives sellers a competitive edge over the other players operating in the industry. Customers have preferred new solutions with high flexibility and extended response time. Big data architecture provides significant opportunities for database management system market demand in near future.
Open source solution availability is the major factor restraining the overall industry growth. High costs involved in establishing database management system restricts its entry in small enterprises. Such companies make use of open source solutions.
Moreover, database management system implementation requires regular maintenance, backups, and security checks. These challenges are expected to act as a barrier to overall market enhancement. Extensive information generation in the transport industry which majorly includes airlines and railways is also projected to provide significant opportunities for database management system solutions adoption in these application areas.
Organizations are focusing on collecting enormous information in retail and telecom. This information is used by the companies for better decision making, customer satisfaction, quality management, and strategy implementations.
Global industry segmentation is done by software and applications. Software includes database application builder, database encryption, backup, recovery, data scaling, and replication.
By end-use industries, the database management systems market is segmented into government, hospitality, banking & financial, healthcare and life sciences, professional service, education, media, entertainment, and telecom & IT.
Asia Pacific and North America are predicted to drive the database management system demand over the forecast period. North America has been the leader in recent years on account of advanced computer systems coupled with well-established computer-aided business model.
Asia-Pacific is expected to witness rapid growth owing to the developing retail, telecom, and banking sectors which are rising a need for a computerized model used for information management.
Europe is also forecasted to observe significant growth over the forecast period owing to increasing use in healthcare and government organizations. South America is expected to foresee a steady growth mainly on account of expanding tourism and transport industry.
Africa has been showing a slow growth largely owing to lack of computer-aided businesses and the presence of many small scale enterprises. Key players present in the global database management system market include BMC Software, Oracle, IBM, CA Technologies, and Couchbase Server.
The other main companies are Informatica Corporation, Enterprise DB Software Solution, Embarcadero Technologies, MongoDB, HP, Actian Corporation, InterSystems, iWay Software, and MetaMatrix.
The global database management system market also includes Microsoft, Neo Technology, SAP, SAS Institute, Objectivity, Pitney Bowes, Compuware Corporation, Bradmark Technologies Inc., Mark Logic, Pivotal, Software AG, Talend, TIBCO, Vision Solutions, and VoltDB.
In April 2015, Oracle introduced the Exadata database as a service along with Exalogic middleware to expand its information base and application processing. In July 2014, Oracle presented the latest version of its product with modern features such as big data SQL, JDON document store, database in-memory, REST service, zone maps, and full database caching.
In October 2013, IBM launched its product DB2-11 with enhanced features and performance to provide rich customer experience. In September 2015, Oracle acquired Front Porch Digital to diversify its portfolio across various segments.
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.