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Increasing Amount Of Data Generated Is Driving The Database Software Market, Leading To Need For Increased Data Security

Database Software Market

Database Software Market Global Forecast To 2030

The Business Research Company’s Database Software Market Research By Type, By Deployment, By End User, And By Regions - Global Forecast To 2030

LONDON, GREATER LONDON, UK, July 7, 2020 / -- Increase in the amount of data generated by industries in their regular operations, and integration of technologies including Internet of Things (IoT) in the process, is expected to benefit the database software market, as database software is used to handle vast amount of data with confidentiality, integrity, and availability. In addition, the introduction of customer-interface applications and the implementation of cloud computing technologies in industries including small scale enterprises have also increased the demand for database software. For example, companies including Coca-Cola have invested in FileMaker, a custom database software to deal with its large amount of data in a more efficient way. The use of FileMaker enables managers to analyze reports to get a glimpse of what is happening company-wide in-real time.

The global database software market size reached a value of nearly $78,722.3 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.3% to nearly $104,429.2 million by 2023.

Database software manufacturers are increasingly investing in security measures in order to protect data. Data privacy and security risks can be a major restraint on the growth of the database software market. During November 2019 alone, there were reported cases of more than 1 billion breaches, most of them caused due to one leaked database. Understanding this risk, database software companies are increasingly investing in security of databases and are trying to make the cloud a protected place to store sensitive information. Companies such as Oracle and Microsoft are increasingly investing in database security to protect data. Oracle’s database software claims to offer various levels of security for database protection, including encryption.

The database software market consists of the sales revenues earned by entities (organizations, sole traders and partnerships) that are engaged in computer software publishing, or publishing and reproduction. Database software products are used for creating, editing and managing database files and records. It allows users to store data in the form of structured fields or tables and columns, and data can be retrieved or extracted directly through programmatic access. Database software products are used by many industries for bookkeeping, compiling client lists, and maintaining other such similar tasks.

The global database software market share is segmented by type into database operation management and database maintenance management. By deployment, the market is segmented into cloud and on-premise. By end user, the market is segmented into BFSI (banking, financial services and insurance), IT & telecommunication, media & entertainment, healthcare, and others.

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Oliver Guirdham
The Business Research Company
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