This research report categorizes the cloud-based data management services market to forecast revenue, analyze trends, service type, service model, deployment mode, vertical.

Northbrook, IL 60062 -- (SBWire) -- 12/20/2023 --The global Cloud-based Data Management Services Market is expected to grow from USD 40.2 billion in 2023 to USD 141.7 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 28.7% during the forecast period, according to research report by MarketsandMarkets™.

Simplifying operations, enhancing data security, facilitating remote accessibility, and eliminating the need for significant upfront investments in hardware and infrastructure are major factors driving cloud-based data management services across organizations. Also, cloud-based data management facilitates easy access to data from anywhere with an internet connection. This is especially important in today's global and increasingly remote work environments. It also promotes collaboration among team members who can concurrently access and work on the same datasets.

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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.

By Region, Asia Pacific is expected to grow at the highest CAGR during the forecast period.

The adoption of cloud-based data management services in the Asia Pacific (APAC) region has been marked by robust growth, reflecting the region's dynamic economic landscape and the accelerating pace of digital transformation. With a burgeoning middle class and a rapidly expanding digital ecosystem, countries across APAC are increasingly turning to cloud services for their data management needs. The region's embrace of cloud solutions is exemplified by instances such as Alibaba Cloud's expanding footprint, serving as a major player in China and the broader APAC market. Additionally, as a percentage of GDP, many Asia Pacific countries have demonstrated a substantial increase in digital adoption, reflecting the region's commitment to leveraging technology for economic growth. For instance, Singapore, South Korea, and Australia have consistently ranked high in global digital competitiveness indices. The COVID-19 pandemic has further accelerated the adoption of cloud services in the region as businesses seek scalable, cost-effective solutions to support remote work and digital collaboration. As the APAC region continues to invest in digital infrastructure and prioritize innovation, the adoption of cloud-based data management services is expected to play a pivotal role in shaping its future economic landscape.

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Some of the key players operating in the cloud-based data management services market are – IBM (US), Fujitsu (Japan), Cisco (US), Dell Technologies (US), HPE (US), NetApp (US), Informatica (US), SAS (US), Actian (US), and Oracle (US).

Key Dynamic Factors For Cloud-based Data Management Services Market:

Privacy and Data Security Concerns:

Concerns over data security and privacy grew as more and more sensitive data was being kept on cloud servers. Businesses with strong security protocols and adherence to data protection laws were at a competitive advantage.

Using Multiple Cloud Strategies:

Multi-cloud solutions were being adopted by many organisations in order to save costs, improve flexibility, and prevent vendor lock-in. The market for cloud-based data management services was impacted by this trend as multi-cloud environment-supporting solutions gained popularity.

Quick Developments in Technology:

Rapid technological developments were occurring in the cloud business, with machine learning (ML) and artificial intelligence (AI) being incorporated into data management services, for example. There was a great need for solutions that could use these technologies to better data analytics and insights.

Elasticity and Scalability:

Scalable and elastic data management solutions that could adjust to shifting workloads and business needs were what organisations were looking for. Cloud-based services provided the scalability required to handle different amounts of data.

Hybrid Cloud Configurations:

Cloud solutions that combine cloud services and on-premises infrastructure, known as hybrid cloud solutions, were gaining popularity. Businesses were able to take use of the advantages of both on-premises and cloud settings thanks to this strategy, which had an impact on the need for data management services that could function flawlessly in hybrid setups.

Cost-Reduction Strategy:

For businesses using cloud services, cost optimisation was a crucial factor. Pay-as-you-go models and resource optimisation were among the aspects that made solutions with excellent cost management capabilities more popular.

Competitive and Segmentation Analysis:

The comprehension and manoeuvrability of the intricate terrain of cloud-based data management services necessitate the application of competitive and segmentation analysis. Major cloud service providers like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud dominate the market, and industry competitors are in intense competition with one another. These industry titans provide full suites of data management solutions, ranging from analytics to storage, and they innovate constantly to stay one step ahead of the competition. Furthermore, firms that specialise in data management, like Snowflake and Cloudera, carve out niches by offering sophisticated analytics and processing power.

When it comes to market segmentation, variables such as verticals, organisation size, deployment model, and service type are commonly used. In order to meet a variety of corporate demands, service kinds include analytics, data integration, data processing, and storage. Different choices for data location and control are accommodated by a range of deployment options, from hybrid to public and private. In order to meet the different needs of small and medium-sized businesses and large corporations in terms of data management, the market also divides organisations into size-based divisions. Moreover, vertical segmentation customises solutions for certain sectors, such manufacturing, healthcare, and finance, where data management requirements might vary greatly.

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