Global Cloud Based Data Management Services Market Size, Share & Industry Trends Analysis Report By Service Type, By Service Model, By Deployment Mode (Public Cloud, Private Cloud and Others), By Vertical, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Cloud Based Data Management Services Market
Market Report Description
The Global Cloud Based Data Management Services Market size is expected to reach $164.5 billion by 2028, rising at a market growth of 30.0% CAGR during the forecast period.
Data storage on an off-site server, often run by a vendor or third party with expertise in cloud services, is called "cloud-based data management." Data storage with cloud services offers expert support, easy access from anywhere, and an automated backup option. It is frequently thought to be safer and more secure than on-site data storage facilities. Additionally, it can scale, allowing customers to do so in response to demand and requirements.
Clients or users can continue working because the provider updates cloud-based data management services automatically as and when necessary. These businesses use a variety of tactics to increase their capitalization. For instance, the next generation iPaaS Informatica Intelligent Cloud Services consists of an increasing number of data management tools.
In addition, the CLAIR engine's AI/ML-driven intelligence, the microservices architecture, and a common user experience throughout all products all contribute to the environment's increased productivity. The BFSI (banking, financial services, and insurance) industries must progressively digitalize to adapt to changing client expectations.
Businesses now depend on data in every aspect of their operations, from client acquisition to customer service, customization to predictive analytics. Furthermore, app-based transactions and touchless digital banking have become very popular. Companies in the financial services sector are moving to the cloud to function effectively and with great agility.
Additionally, in a cloud environment, established banks will also be able to adopt digital banking much more quickly and develop cutting-edge products that can successfully compete with contemporary fintech companies on the market. Banks can increase sales by using data integration to understand better their consumers' requirements, desires, and expectations.
COVID-19 Impact Analysis
Cloud adoption is now slightly more significant than it was before COVID-19. AWS, Microsoft, and Google are the top three public cloud service providers. Almost all organizations use public or private clouds, as reported in the Flexera 2021 State of the Cloud Report. Additionally, the hybrid cloud model offered a foundation for digital transformation. As a result of the pandemic, 63% of Indian firms raised their investments in hybrid cloud solutions, as the Enterprise Cloud Index reported. Consequently, the pandemic positively affects the expanding global cloud-based data management services market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships & Collaborations.
Market Growth Factors
Workplace Collaboration Is Highly Desired
There may be multiple users using a cloud storage service at the same time. Since everything is handled and automated by the cloud provider vendor, one user's current task would not impact another's. With cloud storage, numerous people can work together on a single file. For example, one can permit several users to access and change their files. The file is available in real time to the authorized person from anywhere in the world. Thus, the cloud-based data management services market would be driven by all of these causes.
Hybrid Cloud Services Are Required, Along With Advisory And Consultancy Services
Services like training, advice, and consulting are increasingly in demand. Although enterprises are still skeptical about cloud adoption due to a lack of expertise, it is currently in a high growth period. It offers businesses the chance to provide consulting services on the adoption or deployment of the cloud. These businesses must have significant expertise and experience in the cloud-based services industry. Over the anticipated time, the market will increase due to all these reasons.
Market Restraining Factor
Lack Of Infrastructure In Developing Countries
The latest researches in developing nations show that there is a low level of cloud adoption in these nations, and most developing nations face severe barriers to actively participating in the cloud economy. Depending on a country's degree of development and business and communications settings, there are a variety of obstacles preventing the adoption of cloud computing in developing nations. The lack of infrastructure in most developing and emerging countries prevents the market for cloud-based data management services from expanding.
Service Type Outlook
Based on the service type, the market is categorized into Integration Services, Data security & backup services, and Quality-as-a-Service. During the projection period, the quality-as-a-service category is expected to grow rapidly. Data cleaning, scrubbing, updating, standardization, data de-duplication, and data remediation are all included in the quality-as-a-service segment. For efficiency and profitability to be realized, data quality is essential. The availability of data in many formats is growing due to mobile connections, the Internet of Things, and other cloud-based applications.
Service Model Outlook
Based on the service model, the market is divided into Software-as-a-Service, Platform-as-a-Service, and Infrastructure-as-a-Service. The software-as-a-service segment accounted for the largest market share in 2021. Better methods are required to manage, safeguard, and gain new insights from organizations' data. The SaaS data management models provide data governance and security, backup and recovery, disaster recovery, archiving, file and object services, and dev/test provisioning through a single vendor.
Deployment Mode Outlook
Based on deployment mode, the market is classified into Public Cloud, Private Cloud, and Others. The other deployment modes is expected to experience faster CAGR growth during the projection period. Hybrid cloud and community cloud are the additional deployment strategies. A single point of contact can be avoided by using the hybrid cloud. Businesses can opt to operate its regular workloads in the cloud for mission-critical systems and apps while keeping an on-premises backup for disaster recovery.
Based on the verticals, the market is divided into the BFSI, IT & Telecom, Retail & Consumer Goods, Government & Public Sector, Energy & Utilities, Manufacturing, Healthcare & Life Sciences, Education, Media & Entertainment, Research & Consulting Services, and Others. Healthcare & Life Sciences is showcasing the promising growth rate during the forecast period. Medical professionals and administrators must be diligent in gathering patient data, marketing departments must build their campaigns around data insights, and patients must be reminded to update their information whenever practical. Healthcare organizations must transition their operations to a data-driven mentality.
|Market size value in 2021||USD 27 Billion|
|Market size forecast in 2028||USD 164.5 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 30% from 2022 to 2028|
|Number of Pages||344|
|Number of Tables||503|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Competitive Landscape, Companies Strategic Developments, Company Profiling|
|Segments covered||Service Type, Service Model, Deployment Mode, Vertical, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on the geography, the market is classified into North America, Europe, Asia Pacific, and LAMEA. In 2021, North America registered the major market share. In terms of technological innovation, it dominates the world scene. Additionally, industry 4.0 is expected to boost the manufacturing sectors. The US and Canada will continue to experience unprecedented structural changes due to the growth of digital technology. The rise will be driven by major platforms, including cloud, mobile, social, big data, and analytics, as investment in legacy technology systems drops.
Free Valuable Insights: Global Cloud Based Data Management Services Market size to reach USD 164.5 Billion by 2028
KBV Cardinal Matrix - Cloud Based Data Management Services Market Competition Analysis
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Cisco Systems, Inc., IBM Corporation, Oracle Corporation, Dell Technologies, Inc. are the forerunners in the Cloud Based Data Management Services Market. Companies such as Hewlett Packard Enterprise Company, Actian Corporation, and NetApp, Inc. are some of the key innovators in Cloud Based Data Management Services Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Fujitsu Limited, Cisco Systems, Inc., Dell Technologies, Inc., Hewlett Packard Enterprise Company, NetApp, Inc., Informatica, LLC, SAS Institute Inc., Actian Corporation, and Oracle Corporation.
Recent Strategies Deployed in Cloud Based Data Management Services Market
» Partnerships, Collaborations and Agreements:
- Sep-2022: Hewlett Packard Enterprise Company partnered with Sify Technologies, a Chennai-based IT Service Company. This partnership is aimed to address the hybrid cloud, a space where customers want to reach their digital objectives at a predictable cost.
- Aug-2022: Oracle Corporation came into Collaboration with Anaconda, Inc., provider of the world’s most popular data science platform. Under this collaboration, a large number of Data Scientists and Developers can smoothly collaborate using open-source Python tools.
- Aug-2022: SAS Institute, Inc. came into partnership with SIngleStore, a provider of an ultra-fast modern cloud database created for the data-intensive era. This partnership is aimed to help businesses to eradicate barriers to data access, uncover key data-driven insights and enhance performance and scalability. This combination offers workable, open access to curated data to boost values for cloud, hybrid, and on-premises deployments.
- Jul-2022: Oracle Corporation partnered with Microsoft Corporation, an American multinational technology. This partnership would lead to the launch of a new service, named, dubbed Oracle Database service for Azure that would enable Azure customer’s direct access to Oracle databases running on Oracle Cloud Infrastructure (OCI). Additionally, this would further allow their customer enterprises to run workloads across Oracle cloud and Microsoft Azure with decreased latency.
- Jun-2022: Oracle Corporation came into partnership with Kyndryl, an IT infrastructure services provider. Through this partnership, companies would help customers boost their way to the cloud by offering managed cloud solutions to businesses across the world.
- May-2022: IBM Corporation signed an agreement with Amazon Web Services (AWS), a subsidiary of Amazon that provides on-demand cloud computing platforms and APIs to individuals, companies, and governments. This agreement would deliver IBM's clients easy and rapid access to IBM Software that covers Data and AI, Security, Sustainability, and Automation abilities.
- May-2022: Dell Technologies came into collaboration with Snowflake, a Data Cloud Company. Through this collaboration, together both companies would connect data from Dell's enterprise storage offering with the Snowflake Data Cloud to help customers have higher flexibility operating in multi-cloud environments, meet data sovereignty requirements, and easily turn data into insights.
- May-2022: NetApp came into collaboration with Kyndryl, a provider of IT infrastructure services. Under this collaboration, both organizations would help customers across industries to intensify and upgrade their ability to extract and manage business value from large unstructured data consisting of text-based documents, audio and video files, IoT sensors, photos, and other sources.
- May-2022: Informatica LLC came into partnership with Oracle Corporation, an American multinational computer technology company. Through this partnership, Informatica and Oracle have combined Informatica's Intelligent Data Management Cloud (IDMC) with Oracle Autonomous Database, Oracle Object Storage, and Oracle Exadata Cloud at the customer. Moreover, this partnership would provide industry-leading cloud data management and governance solutions for data warehouses, integration, data science, and enterprise analytics.
- Oct-2021: SAS Institute, Inc. collaborated with Red Hat, an American software company engaged in offering open-source software products to enterprises. This collaboration between SAS and Redhat would allow businesses to utilize open hybrid cloud technologies and analytical capabilities to propel business-level intelligence.
- Aug-2021: IBM Corporation came into partnership with Cloudera, an American software company providing enterprise data management systems. Through this partnership, both companies would help enterprises with their AI and Data needs. Additionally, this would allow IBM to let Cloudera reside under the IBM Data Fabric which would enable business access to the right data at a better cost, regardless of the data's storage location.
- Jun-2021: IBM Corporation teamed up with Schlumberger, an offshore drilling company. Under this Collaboration, Both companies announced commercial hybrid cloud Enterprise Data Management Solution for the OSDU Data Platform. The data solution is developed to reduce the time for data transfers between applications to offer decreased costs and allow better decision-making. Additionally, this collaboration is for energy operators to optimize better performance and higher efficiencies by allowing combined innovation and workflows through AI.
» Product Launches and Product Expansions:
- Nov-2022: Netapp, Inc. introduced the "NetApp BlueXP", a unified control plane providing an easy hybrid multi-cloud experience for data services and storage across on-premises and cloud environments. The product enables users to control their broader hybrid multi-cloud data estate, consisting of first-party native storage and on-premises unified storage with the leading public cloud providers.
- May-2022: Informatica LLC has launched the Intelligent Data Management Cloud (IDMC) for financial services, an end-to-end integrated data management cloud. This product complements Informatica’s cloud-native solutions as a combined platform to support financial services companies' access and utilize Fit for Business Use data to support their top business priorities.
- Mar-2022: Cisco Systems, Inc. announced the launch of Cisco HyperFlex Express, Cisco UCS X-Series, and Cisco Intersight. The launch is aimed to help customers boost and simplify their hybrid cloud journeys.
- Mar-2022: Hewlett Packard Enterprise added enhancements in HPE GreenLake including unified operational experience and Convergence of Aruba Central, an AI-powered, cloud-native network management solution. This expansion is aimed to set HPE GreenLake as an ideal platform for customers to propel data-first modernization.
- Jan-2022: Dell Technologies launched APEX Multi-Cloud Data Services, providing storage and data protection as-a-Service with simultaneous access to all major public clouds through a single console. This launch is aimed at supporting customers to take control of their multi-cloud strategy.
- Oct-2021: NetApp, Inc. announced enhancements in its Hybrid cloud offering including ONTAP Data Management Software Enhancements, Enhanced Data Services, and More flexible consumption options. The expansion aimed to provide new secure ways to operate and consume data services in the cloud and on premise. The Solution makes it easy for business customers to put their data to work based on their requirements of customers.
- Sep-2021: Oracle Corporation unveiled the Oracle Exadata X9M Platforms, the new version of the industry’s most affordable system for running the Oracle Database. The newly launched Exadata X9M offerings consist of Exadata Cloud at Customer X9M and Oracle Exadata Database Machine X9M.
- Apr-2021: Informatica, LLC unveiled the intelligent Data management Cloud, cloud-native, and AI-powered platform. The product is created to help companies innovate with their data on any cloud, platform, multi-cloud, or multi-hybrid. Additionally, Intelligent Data Management Cloud is designed for businesses to step from simply modernization to truly transforming for a digital world.
- Oct-2020: Cisco Systems, Inc. unveiled the Cisco Catalyst 8000 Edge Platform, a Wide Area Networking platform. This launch would help customers boost cloud adoption and provide automated and secure connectivity to applications across the data center, edge, and cloud.
» Acquisitions and Mergers:
- Jun-2022: IBM Corporation acquired Randori, an attack surface management (ASM) and cybersecurity platform. This acquisition would enable clients to regularly recognize external-facing assets, on both cloud and on premise which is visible to attackers, and systemize exposures that carry the major risk.
- May-2022: NetApp, Inc. has acquired Instaclustr, a platform provider of a fully managed open-source database, pipeline, and workflow applications delivered as a service. Both companies together with their abilities, would allow customers to create, deploy and operate cloud applications rapidly, easily, and cost-effectively.
- Feb-2022: NetApp, Inc. acquired Fylamynt, an innovative CloudOps automation technology company. This acquisition is based on NetApp's investment and momentum to grow the Spot by NetApp offerings of CloudOps multi-cloud infrastructure management services.
- Nov-2021: NetApp, Inc. took over CloudCheckr, a leading cloud optimization platform. Through this acquisition, the FinOps and SecOps, a part of NetApp's Spot suite are stretched out by integrating analytics, cost visibility, and reporting from the CloudCheckr platform with regular cost optimization and automation services from Spot by NetApp.
- Sep-2021: Hewlett Packard Enterprise Company acquired Zerto, a company that works in the cloud data management industry. This acquisition quickly places the HPE GreenLake edge-to-cloud platform in the high-growth data protection market with established evidence of solutions and drives HPE's storage business into a software-defined, cloud-native data services business.
- Jul-2021: IBM Corporation acquired Blue tab Solutions Group, S.L., an enterprise software, and technology company. This acquisition would broaden IBM's offering of data and hybrid cloud consulting services and strengthen IBM's hybrid cloud and AI strategy. Additionally, the acquisition would enable IBM Corporation to support the clients to realize furthermore value from their mission-critical data, even boosting its migration to the cloud.
- Feb-2021: Cisco Systems, Inc. took over IMImobile PLC, a leading global provider of cloud communications software and services that manage business-critical interactions at scale. Through this acquisition, by integrating IMImobile's solution with Webex Contact Center, Cisco would be able to deliver a Customer Experience as a Service (CXaaS) offer.
- Jan-2021: Cisco Systems, Inc. acquired Banzai Cloud, Zrt, a Hungary-based company with expertise in deploying cloud-native applications securely, at scale, and in production. This acquisition would allow Cisco to broaden its abilities and expertise in end-to-end cloud-native application runtime, security workflows, development, and development.
Scope of the Study
Market Segments Covered in the Report:
By Service Type
- Integration Services
- Data Security & Back-up Services
By Service Model
By Deployment Mode
- Public Cloud
- Private Cloud
- IT & Telecom
- Retail & Consumer Goods
- Government & Public Sector
- Energy & Utilities
- Healthcare & Life Sciences
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Fujitsu Limited
- Cisco Systems, Inc.
- Dell Technologies, Inc.
- Hewlett Packard Enterprise Company
- NetApp, Inc.
- Informatica, LLC
- SAS Institute Inc.
- Actian Corporation
- Oracle Corporation
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How valuable will the Cloud Based Data Management Services Market be in the future?
The global Cloud Based Data Management Services Market size is expected to reach $164.5 billion by 2028.
What are the key driving factors and challenges in the Cloud Based Data Management Services Market?
Workplace Collaboration Is Highly Desired are driving the market in coming years, however, Lack Of Infrastructure In Developing Countries restraints the growth of the market.
What are the major top companies in the competitive landscape?
IBM Corporation, Fujitsu Limited, Cisco Systems, Inc., Dell Technologies, Inc., Hewlett Packard Enterprise Company, NetApp, Inc., Informatica, LLC, SAS Institute Inc., Actian Corporation, and Oracle Corporation.
Which segment shows a high revenue share of the Cloud Based Data Management Services Market in 2021?
The Integration Services segment acquired maximum revenue share in the Global Cloud Based Data Management Services Market by Service Type in 2021 thereby, achieving a market value of $79.9 billion by 2028.
Which segment is leading the market in 2021?
The Public Cloud segment is leading the Global Cloud Based Data Management Services Market by Deployment Mode in 2021 thereby, achieving a market value of $89.6 billion by 2028.
Which region dominated the Cloud Based Data Management Services Market in 2021?
The North America market dominated the Global Cloud Based Data Management Services Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $60.1 billion by 2028.