Relational Database Market to Reach US$18.8 billion by 2026: IndustryARC
IT and Telecom held the major market share in the Relational Database Market in 2020.
HYDERABAD, TELANGANA, INDIA, November 25, 2022 /EINPresswire.com/ -- Relational Database Market is forecast to reach $18.8 billion by 2026, after growing at a CAGR of 38.4% during 2021-2026 forecast period. With rise in the adoption of IoT technologies and the usage of cloud database for computing in various organizations for different applications is analyzed to boost the Relational Database Market. Moreover, the cloud databases provide the customers with improved performance, service resilience and so on, thereby enhancing the overall market demand for Cloud Database during the forecast period. The Relational database market is driven primarily due to rising usage of internet of things, cloud computing as well as rising use of Cloud database in banking and education. IOT data is complex, accessible by multiple users and many complex queries, both SQL database and NoSQL database, and transactions need to be handled through IOT applications. Relational database makes the data secure and reliable. Furthermore, Relational database management system (RDBMS) provides customer with data storage, automatic data backups and replication thereby boosting the market growth during the forecast period 2021-2026.
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1. North America dominates the Relational Database Market owing to high adoption of cloud computing and storage by the large enterprises and SMEs in the region.
2. The growing demand from large scale enterprises for digital database management and storage is likely to aid in the market growth of Relational Database Market during the forecast period 2021-2026.
3. The increased number of investments in the IoT applications and its impact on the IT and telecom industry is analyzed to impose a significant rise in the demand for data management services thereby creating significant number of opportunities in Relational Database Market during 2021-2026.
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Relational Database Market Segment Analysis - By Organization Size: Large enterprises held the largest share in the Relational Database Market in 2020 and is projected to grow at a CAGR of 40.1% through 2026. Large enterprises are majorly opting for private cloud databases based on SQL thereby ensuring security along with additional benefits including reduced infrastructure configuration, management overheads and so on. Enterprises can use the cloud virtualization solutions, tools and databases to develop their cloud based applications and solutions. Forbes stated that in 2019 alone, 30% of all the IT budgets were allocated to cloud computing thereby contributing to the market share. However small and medium scale enterprises are analyzed to have highest growth rate during the forecast period 2021-2026.
Relational Database Market Segment Analysis - By Application: IT and Telecom held the major market share in the Relational Database Market in 2020 and is also analyzed to grow at highest CAGR of 46.70% during the forecast period 2021-2026. Cloud computing is majorly deployed in IT industry majorly owing to the advantages such as high scalability, low cost and accessed through cloud platform. Moreover the increasing demand for IoT and adoption for database as a server is contributing to the overall IT industry. Adding up to these factors, deployment of cloud digital database reduces the IT complexities and operational costs. It helps in creating Virtual machine images as well. Further the employment of big data management in BFSI applications is also analyzed to boost the market for SQL relational databases during the forecast period 2021-2026.
Relational Database Market Segment Analysis - By Geography: In 2020, North America dominated the Relational Database Market with a market share of 41.5%, followed by APAC and Europe. The major factors contributing to the major market share is the presence of large cloud database vendors including Amazon, Google, Oracle and so on, as they provide enhanced advanced technical architecture and cloud database security to the customers in this region thereby boosting the market during the forecast period 2021-2026. APAC is also analysed to grow at a highest rate during forecast period owing to the increasing adoption of IoT and the major shift of the various enterprises towards cloud computing. Moreover, the significant rise in the investments towards the shift of enterprises and the use of IoT in various applications including smart homes, roads and so on are boosting the Relational Database Market.
The top 5 players in the Relational Database Market Industry are -
1. Huawei Technologies Co Ltd.
3. Altacel-Lucent S.A.
4. Motorola Solutions Inc.
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A. Cloud Non-Relational Database
B. Cloud Database Security:
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