Database Management System Market size was valued at USD 5.64 billion in 2021, growing at a CAGR of 9.6% during the forecast period 2022-28. A database management system is a software tool used for organising and storing data that normally follows predetermined forms and structures. A paradigm change from file system to data management system has occurred as a result of the rising need for cloud-based management and data storage solutions. XML Database Management System (XDBMS), Object-Relational Database Management System (ORDBMS), Hadoop, Relational Database Management System (RDBMS), and NoSQL are examples of DBMS technologies. Consistency, regulation of information redundancy, integrity, and sharing are some benefits of database management systems (DBMS). Database management system (DBMS) enables businesses to create, maintain, organize, and restrict access to datasets. The usage of database management systems is widespread throughout a number of important industries, including banking, media and entertainment, healthcare, pharmaceuticals, services, and hospitality. It serves as a link between users, applications, and data. Over the projection period, there may be an increase in demand for database management solutions due to the necessity to manage the massive amounts of data that are collected every day for use in telecom and retail. It is fueled by an open-source information base. Representing between 25% and 30% of social data sets used. The database management system market facilitates better quality insights that improve productivity and decision-making. Increasing data from social media, e-commerce, and high-tech industries is what is driving the global database management system (DBMS) market. The adoption of Hadoop business data management and NoSQL are the two main trends in database management system market. The database management system market is no longer being driven by on-premise systems, but rather by cloud services. Large organisations still use on-premises DBMS solutions; however, they combine them with cloud-based DBMSs to create a “hybrid” strategy. In accordance with this, as the coronavirus disease (COVID-19) spreads more around the world, there has been a sharp surge in the demand for effective DBMS to handle the data produced by remote workers and to provide remote access to corporate resources. Operations or the storing or retrieval of data may be hampered by unsupportive hardware. Companies in the market are constantly attempting to solve such problems.
Critical Developments in Database Management System Market
On Oct 18, 2022- Oracle Brings Database Innovations to Simplify Development and Enhance Protection of Mission-Critical Apps: – Oracle announced Oracle Database 23c Beta, the latest version of the world’s leading converged database. The many innovations in Oracle Database 23c advance Oracle’s lead for developing modern applications, additionally strengthening Oracle’s dominance in terms of availability, security, and performance for mission-critical workloads.
On April 26, 2022 – Amazon RDS for MariaDB now supports M6i and R6i instances with new instance sizes up to 128 vCPUs and 1,024 GiB RAM.