Artificial Intelligence
Cloud Database Market To Reach USD 38.6 Billion at a CAGR of 14.80% by 2030 – Report by Market Research Future (MRFR)
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New York, US, March 07, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Cloud Database Market Research Report, by Database, Model, Component, Organization Size, End-User — Global Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 38.6 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 14.80% during the assessment timeframe.
Cloud Database Market Overview:
Due to the emergence of new technology like the Internet of Things, Market Research Future projects that the cloud database market will reach maturity in 2030. It is believed that the Internet of Things (IoT) and the growing popularity of database as a service (DBaaS) would revolutionise the IT industry as a whole. The growing adoption of cloud databases and DBaaS produces a value proposition that fosters corporate agility, lowers costs, enhances service resilience, guarantees performance, and provides a few other advantages. Value proposition is the creation of a number of features and services that make a company’s product alluring to buyers.
Nowadays, success in the cloud is fueled by value proposition combined with technology. In order to experience a distinctive and compelling breakthrough, numerous large organisations as well as small and medium-sized enterprises have implemented value proposition. The technology value proposition is also anticipated to be one of the key drivers of the cloud database market throughout the course of the forecast period. However, as it can expose corporate data to malware and hackers, rising privacy concerns are anticipated to restrain the growth of the cloud database market over the assessment period.
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The prominent players in the Cloud Database Market are
- Google Inc. (US)
- Amazon.com (US)
- Oracle (US)
- Microsoft (US)
- IBM (US)
- Salesforce.com Inc. (US)
- Rackspace Inc. (US)
- SAP AG (Germany)
- CenturyLink (US)
- CSC (Computer Science Corporation) (US).
Cloud Database Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 38.6 Billion |
| Growth Rate | CAGR of 14.80% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Rapid adoption of new technology |
| Key Market Drivers | Growing implementation of cloud database and DBaaS results in value proposition |
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Scalability is seen as a system attribute that is desirable since it provides businesses with dependable and secure database services and solutions.
Scalability boosts database services’ elasticity and service velocity, guaranteeing that organisations may deploy data with ease. A database is balanced out by database scalability to ensure that it can hold a lot of data. Also, the database can handle large loads of continuously growing data traffic thanks to data scalability. Thus, one of the things driving the growth of the cloud database market is predicted to be scalability.
A cloud platform is used to create and deliver a service called a cloud database. Both the conventional and database as a service (DBaaS) environments are included. The conventional database is made up of a variety of both organised and unstructured content. Enterprises receive scalable and dependable database solutions because to it.
A computing infrastructure platform including public, private, and hybrid clouds houses a cloud database. A standard database environment that is used to run database software makes up DBaaS. Due to the quick adoption of cloud-based services and solutions due to benefits such as the elimination of physical infrastructure, ease of access, on-demand SQL, instantaneous scalability, and others, the service is scaled on implementation of instantly assigned computing solution, run-time, and storage of resources is expected to experience positive growth in the forecast period.
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Cloud Database Market Segments:
The database, model, component, organisation size, end-users, and geography segments of the cloud database market are used.
SQL databases and NoSQL databases make up the two segments of the cloud database market by type of database.
This market is divided into service model and deployment model based on model. The industry is further divided into public cloud, private cloud, virtual private cloud, and hybrid cloud based on service model. Database as a Service (DBaaS), Platform as a Service (PaaS), and Infrastructure as a Service are three segments of deployment models (IaaS).
The market is divided into software and service segments based on component. Database encryption, backup and recovery, data scalability and replication, database application builders, and other tools are the different market segments. The market is divided into three service categories based on type: deployment and maintenance service, system and network integration service, and training and consulting service.
The market is divided into major enterprises and small and medium-sized enterprises based on the size of the organisation.
The market is divided into categories based on end-users, including BFSI, healthcare, IT and telecom, government, academic, and others.
Cloud Database Market Regional Analysis:
The worldwide segments are broken down into North America, Europe, Asia-Pacific, and the rest of the globe.
During the assessment period, North American nations including the US and Canada are anticipated to dominate the cloud database market with IoT implementation and rising cloud-based service usage. Because IT organisations are becoming more and more dependent on cloud databases, there are numerous investments, research projects, and development activities going on in the US. As a result, users of cloud databases benefit from improved cloud infrastructure as well as network security.
The cloud database market is anticipated to grow as security-based applications become more widely adopted in Asia-Pacific. Asia-Pacific is therefore anticipated to have the market’s quickest growth during the time of forecast. Due to the leading IT businesses investing in the European markets, the managed database solutions market is anticipated to grow significantly in Europe.
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The market for cloud databases in North America is expanding quickly due to the rapid uptake of new technology. As a result, the region is anticipated to hold the greatest market share during the forecast period and hence dominate the market. A few nations in the region that are leading due to technological breakthroughs and rising use of cloud-based services are the US, Canada, and Mexico.
Major cloud database providers in the US, including Google Inc., Oracle, Amazon.com, IBM, and Microsoft, are upgrading cutting-edge technological architecture and offering cloud database network security. As IoT usage rises and small, medium-sized, and big businesses move their operations to the cloud, Asia-Pacific is anticipated to experience the market’s quickest growth. Because to their large client bases, China, Japan, and India are the top three nations in the region. Due to improved customer experiences, increased investments by tech giants like Microsoft, Intel, IBM, and others in the European IT sector, and other factors, Europe is predicted to grow rapidly during the forecast period.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation.
Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
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As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
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320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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Artificial Intelligence
Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup
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