Albany, NY -- (SBWIRE) -- 04/12/2021 -- Cloud-based Time Series Database: Introduction

A time series database (TSBD) is a sequence of data points collected over time intervals, or it refers to a database optimized for measuring change over time. Time series database is a collection of measurements or events that are monitored or tracked over time. It is mainly used for application performance monitoring, sensor data, network data, clicks, events, trades in a market, and numerous other types of analytics data.
Time series database monitors or tracks changes over milliseconds, days, or even years.
The global cloud-based time series database market is projected to expand at a rapid pace during the forecast period, due to the increase in adoption of these solutions among end-users across the globe
cloud based time series database market size and forecast

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Global Cloud-based Time Series Database Market: Dynamics

Global Cloud-based Time Series Database Market: Key Drivers and Restraints

Increase in demand to reduce risks, improve efficiency, and enhance business operations among end-users is expected to boost the global cloud-based time series database market during the forecast period
Rise in need to analyze financial data accurately and the volatility of stock trading is also anticipated to fuel the cloud-based time series database market during the forecast period.
Technological advancements and changing work culture have encouraged business organizations to adopt advanced software. Thus, demand for cloud-based time series
database is likely to increase during the forecast period to cater to the fast-changing market needs.
Rise in demand for accessing IoT data and monitoring web services, applications, and infrastructure is also expected to boost its demand across the globe.

However, high cost of cloud-based time series database restricts its adoption among small-sized end-users. This is anticipated to hamper the market during the forecast period.
cloud based time series database market dynamics

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Impact of COVID-19 on the Global Cloud-based Time Series Database Market

The COVID-19 pandemic is anticipated to adversely impact the global cloud-based time series database market in the short term i.e. during the lockdown period. Investment in cloud-based time series database among organizations has reduced significantly due to the lockdowns enforced by various governments to curb the spread of the COVID-19 pandemic.

However, many end-users such as government and healthcare sector are significantly adopting time series database to track the closing and opening value of the stock market, daily lows and highs in temperature, and total number of COVID-19 hospitalizations per day across the globe. This is projected to positively impact the global cloud-based time series database market during the forecast period.

North America to Hold Major Share of Global Cloud-based Time Series Database Market

In terms of region, the global cloud-based time series database market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America market in 2020, due to the significant adoption of cloud-based time series database in the region. COVID-19 cases are high in the U.S. in the North America region. This is anticipated to positively impact the adoption of cloud-based time series database to track or monitor the total number of COVID-19 hospitalizations per day.

The cloud-based time series database market in Asia Pacific is projected to expand at a rapid pace during the forecast period. Increasing demand to track the daily COVID-19 statistics across various countries is expected to boost the market in the short term. Moreover, the increasing trend of stock trading in the region is likely to propel the cloud-based time series database market in Asia Pacific in the next few years.