Cloud Relational Database Market Forecast to Reach $18.8 Billion by 2026>
Industry Arc
Cloud Relational Database Market is forecast to reach $18.8 billion by 2026, after growing at a CAGR of 38.4% during 2021-2026. 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 Cloud 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 Cloud 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 and NoSQL, and transactions need to be handled through IOT applications. Cloud relational database makes the data secure and reliable. Furthermore, Cloud relational database provides customer with data storage, automatic data backups and replication thereby boosting the market growth during the forecast period 2021-2026. North America dominates the Cloud Relational Database Market owing to high adoption of cloud computing and storage by the large enterprises and SMEs in the region. The growing demand from large scale enterprises for digital database management and storage is likely to aid in the market growth of Cloud Relational Database Market during the forecast period 2020-2025. 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 Cloud Relational Database Market during 2021-2026. Large enterprises held the largest share in the Cloud 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. T and Telecom held the major market share Cloud Relational Database Market in 2020 and is also analyzed to grow at highest CAGR of 46.70% during the forecast period 2021-2026. In 2020, North America dominated the Cloud Relational Database Market with a market share of 41.5%, followed by APAC and Europe. Cloud Relational Database Market Drivers Growing demand for Database as a service(DBaaS) Rising Data Storage Requirements Cloud Relational Database Market Challenges Security issues
Link: https://www.industryarc.com/Report/19214/cloud-relational-database-market.html?utm_source=briefingwire&utm_medium=Pressrelease&utm_campaign=Paidpressrelease