Cloud Based Data Management Services Market Size, Landscape, Industry Analysis, Business Outlook, Current and Future Growth By 2027
TheCloud based data management services market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 32.9% during the forecast period, to reach USD 141.2 billion by 2027 from USD 34.0 billion in 2022.
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Integration Services to hold the largest market share of Cloud based data management services market in 2022.
The integration services considered for the study consists of integration, migration, master data management, data synchronization, data exchange, and data virtualization. Data integration services can also be referred to as cloud data integration, cloud system integration, cloud based integration, and iPaaS. Cloud data integration services were created to break down data silos, improve connectivity and visibility, and ultimately optimize business processes. Data integration tools are a response to the need to share data among cloud based applications and unify information components. Cloud integration has gained popularity with the rise in the use of SaaS delivery models. Additionally, more businesses are operating with a hybrid mix of SaaS and on-premises applications, which is creating a need for progressive cloud data integration solutions and services.
Infrastructure-as-a-Service segment to grow at a higher rate during the forecast period.
IaaS represents general-purpose computing resources and is thus capable of supporting use cases of all types. It is mostly used for development and testing environments, customer-facing websites and web applications, data storage, analytics and data warehousing workloads, and back-up and recovery, particularly for on-premises workloads. IaaS is also a good fit for deploying and running common business software and applications. It supports both cloud-native applications and traditional enterprise applications, including ERP and business analytics applications.
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The major players have adopted various growth strategies to expand their global presence and increase their market reach to enhance customer base. Key players such are IBM (US), Fujitsu (Japan), Cisco (US), Dell Technologies (US), and HPE (US) have majorly adopted strategies such as product launches and upgradations, partnerships, agreements, merger and acquisitions to gain market presence and to support the growth of Cloud based Data Management Services market.
IBM is one of the strongest cloud service providers in the global Cloud based Data Management Services Market. The company offers a wide range of services, such as data backup services, database management solutions, backup and recovery services, business continuity services, data virtualization, and disaster recovery services. In addition, the company has a vast partner ecosystem consisting of resellers, managed service providers, alliance partners, embedded system partners, and distributors, which help the company deliver an efficient and cost-effective solution to its global customers. IBM is present in over 175 countries, with its geographic presence in North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Fujitsu is one of the leading global providers of Cloud based Data Management Services Market. It is gradually increasing its focus on strengthening its business performance portfolio. The company has adopted effective organic and inorganic growth strategies to attain maximum market growth. In April 2021, RIKEN and Fujitsu announced the opening of the RIKEN RQC-Fujitsu Collaboration Center to promote the joint R&D of foundational technologies to put superconducting quantum computers into practical use. The company is also focusing on the development of 5G network services across the globe. The company is actively investing in innovating products and services. It adopts organic and inorganic growth strategies to attain a competitive position in the market.
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