The Latin America, Middle East and Africa Cloud Database And DBaaS Market would witness market growth of 20.8% CAGR during the forecast period (2023-2029).
Ever-expanding database architecture decreases due to shifting to the cloud, there is an increasing demand for cloud databases and DBaaS. Physical infrastructure expenses are rendered unnecessary, and non-peak usage hours can be reduced easily and affordably with the help of cloud databases and DBaaS. The built-in security features of cloud database providers enhance enterprise network security. Other elements contributing to the increased cloud database and DBaaS sales include built-in identity and access management monitors, regulatory compliance tools, and data encryption by default.
Accessibility is the main benefit of switching from a mostly on-premises database system to a DBaaS and cloud-based database structure for many companies. As the corporate sector recovers from the COVID-19 pandemic with an increased emphasis on remote work arrangements, which is projected to strengthen the market. Cloud databases as well as DBaaS, can be scaled easily based on actual usage instead of pre-purchasing physical database storage in expectation of future requirements that may or may not occur.
Businesses in Latin America are refocusing their efforts from investing in technology to effectively using digital transformation techniques to grow their businesses. The new environment that this competitive approach is creating offers numerous opportunities for information technology (IT) as well as cloud sourcing. As a result, cloud service providers are extending the scope of their cloud services and goods. The primary forces behind the growth of the regional infrastructure-as-a-service (IaaS) industry have been cloud-managed services and modern technologies like IoT, Big Data, and cognitive intelligence. The biggest chunk of money is spent on technology solutions in the banking sector. In addition, the need for cloud databases and DBaaS has increased due to recent advancements in cloud network usage. Due to these elements, the regional market is expanding more quickly.
The Brazil market dominated the LAMEA Cloud Database And DBaaS Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $957 million by 2029. The Argentina market is exhibiting a CAGR of 21.4% during (2023 - 2029). Additionally, The UAE market would register a CAGR of 20.5% during (2023 - 2029).
Based on Database Type, the market is segmented into Relational Database and NoSQL. Based on Industry, the market is segmented into Telecom & IT, BFSI, Manufacturing, Retail & eCommerce, Government & Public Sector, Healthcare & Life Sciences, Automotive, Media & Entertainment and Others. Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Storage and Database Management. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment, the market is segmented into Hybrid, Public and Private. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Cloud Database And DBaaS Market is Projected to reach USD 38.9 Billion by 2029, at a CAGR of 15%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC (Alphabet Inc.), Nutanix, Inc., Oracle Corporation, IBM Corporation, SAP SE, Microsoft Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.), Alibaba Cloud (Alibaba Group Holding Limited), Teradata Corporation, and Ninox Software GmbH.
By Database Type
By Industry
By Component
By Organization Size
By Deployment
By Country
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