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The database management platform market is witnessing significant market trends that are shaping the industry landscape. With the increasing need for efficient data management and the growing complexity of data environments, organizations are seeking advanced solutions to handle their database operations effectively.
One of the key market trends in the database management platform market is the adoption of cloud-based solutions. Cloud-based platforms offer several benefits, including scalability, cost-effectiveness, and flexibility. Organizations are increasingly moving their database operations to the cloud to leverage these advantages. Cloud-based platforms provide seamless access to data from anywhere, enabling businesses to make timely decisions and respond to changing market conditions.
Another noteworthy trend in the database management platform market is the rising demand for real-time analytics and insights. As businesses generate massive volumes of data, the need for real-time data processing and analysis becomes crucial. Database management platforms are incorporating advanced analytics capabilities to enable organizations to extract valuable insights from their data in real-time. This trend is driven by the increasing importance of data-driven decision making and the need to gain a competitive edge in the market.
Data security is another significant trend in the database management platform market. With the rising number of data breaches and cyber threats, organizations are prioritizing data security measures. Database management platforms are incorporating robust security features such as encryption, access controls, and threat detection to safeguard sensitive data. Additionally, compliance with data protection regulations such as GDPR and CCPA is becoming increasingly important, driving organizations to invest in secure database management platforms.
Integration with other systems and platforms is also a prominent market trend in the database management platform market. Organizations are looking for platforms that can seamlessly integrate with their existing IT infrastructure, including enterprise resource planning (ERP) systems, customer relationship management (CRM) systems, and business intelligence (BI) tools. Integration capabilities enable businesses to streamline their processes, improve data accuracy, and enhance overall operational efficiency.
Furthermore, the database management platform market is witnessing a shift towards self-service and user-friendly interfaces. Businesses are seeking platforms that empower non-technical users to manage and manipulate data without relying on IT teams. Intuitive interfaces and self-service capabilities allow users to perform tasks such as data querying, reporting, and analysis, reducing dependency on IT resources and enabling faster decision-making.
Lastly, the database management platform market is experiencing the emergence of artificial intelligence (AI) and machine learning (ML) capabilities. AI and ML technologies are being integrated into database management platforms to automate various tasks, improve data quality, and enhance performance. These advanced capabilities enable organizations to optimize their database operations, reduce manual efforts, and unlock new insights from their data.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Market players in the data management platform market are expected to have lucrative growth opportunities in the future with the growing demand for the data management platform market. Key Market Drivers The growing use of technology in companies is contributing to the need for effective data protection, which has contributed to an increasing need for artificial intelligence technology. The AI-infused tools accelerate the business process by providing improved data protection and collection and further enhancing data security. |
Database Management Platform Market Highlights:
Market Overview
Market Research Future (MRFR) predicts the Database Management Platform Market size is expected to surpass USD 6.984 Billion with a CAGR of approximately 22.3% from 2024-2032 (forecast period). The increasing need to collect data from sources such as CRM data, POS data, mobile web & applications, social networks, web analytics tools, and others drives the market for data management platforms. The use of DMP for advertisers to reach consumers and to meet the needs of customers across devices is dramatically increasing the market size of the data management platform during the 2022-2032 forecast period.
Figure 1: Database Management Platform Market Size, 2023-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
COVID-19 Impact on the Database Management Platform Market
As the COVID-19 outbreak wrecks global economies, the database management platform company is struggling to cope with circumstances that are changing day-to-day, if not hour-to-hour. While the database management platform organizations are trying to find their operational and financial bases, a number of activities are being put on hold.
Market Dynamics
Data protection with artificial intelligence
The growing use of technology in companies is contributing to the need for effective data protection, which has contributed to an increasing need for artificial intelligence technology. The AI-infused tools accelerate the business process by providing improved data protection and collection and further enhancing data security. In addition, most organizations obtain data from a variety of different touch-points like websites, mobile devices, and even devices powered by the Internet of Things (IoT). This collection of data from different points of communication contributes to a need for effective data protection, which leads to the integration of AI. With the growing use of artificial intelligence, the organization's IT team protect data and ensure security.
The rise of Augmented Analytics
Many business owners invest time and resources in data collection and management that leads to technological advances. This advancement leads to the introduction of augmented analytics for the efficient analysis of data. The deployment of augmented analytics offers a range of benefits, including the allowance of real-time information from the data collected. It also provides improved customer engagement in order to make crucial choices for an effective business process. Augmented analytics also facilitates business intelligence and data sharing, further propelling the data management platform market.
Database Management Platform Market Challenges
Lack of Competence
The data management platform needs the right people to run the operation, but the lack of a professional workforce leads to critical issues for its growth. The implementation of data platform management needs the developer to have knowledge of JavaScript, HTML, and CSS. As a result, the lack of such essential information hinders the recruitment of the right skills and thus affects the productivity of organizations. This crucial problem further hinders the growth of the market for data platform management.
Market Segmentation
Database Management Platform Industry has been segmented by Data Type, Data Source, and End-User.
- By data type, the database management platform market has been segmented into first-party data, second-party data, and third-party data.
- By data source, the database management platform market has been segmented into web analytics tools, mobile web, mobile apps, POS data, CRM data, social network, and others.
- By end-user, the database management platform market has been segmented into ad agencies, marketers, and publishers.
Regional Analysis
The regional analysis of the database management platform market is being studied for the region such as Asia Pacific, North America, Europe, and Rest of the World.
North America to foster the global market
It has been noted that North America is expected to have the largest market share, while Asia Pacific is projected to rise at the fastest pace during the forecast period. The main growth in the market for database management systems in North America is due to an increase in online customer and Internet use. As technological advancements grow, the increase in connected devices increases the use of data sharing across various platforms.
APAC to follow the North America
The Asia Pacific region is expected to be fastest growing due to the presence of major IT players producing significant volumes of data and the presence of small and medium-sized enterprises offering database management services.
Competitive Landscape
Various companies focus on organic growth strategies like product launches, product approvals, and others, such as patents and events. Inorganic growth strategies like acquisitions and alliances & collaborations were witnessed in the industry. These practices paved the way for the growth of the business and consumer base of market players. Market players in the data management platform market are expected to have lucrative growth opportunities in the future with the growing demand for the data management platform market.
At AWS re: Invent 2023 in November 2023, IBM, which is one of the leading technology firms today, announced its collaboration with Amazon Web Services (AWS) to make available Amazon Relational Database Service (Amazon RDS) on Db2 as it is an AI-cloud offering.
MongoDB, Inc., a US-based software company that offers commercial support for MongoDB and other open-source databases, has announced the launch of MongoDB Atlas for Insurance and MongoDB Atlas for Healthcare this October 2023. These tools are expected to help these industries increase the technology adoption pace in the coming years.
In September of 2023, InfluxData introduced InfluxDB Clustered. It is actually curated as a self-managed version of their time series database while delivering cloud and on-premises deployments. Asia-Pacific region has become one of the fastest-growing markets for DBMS. Countries like China and India are developing new DBSMs systems. As an example, there exists a considerable domestic as well as international market within India for database management systems. The rise in DBMS adoption among healthcare and IT sectors may enhance regional demand.
Datadobi® disclosed that its StorageMAP platform has been adopted by Germany's principal biomedical research institution, the German Cancer Research Center, in order to improve its data management and security capabilities in July 2023.
Having developed ClickHouse-the popular online analytical processing (OLAP) database management system- ClickHouse Company unveiled the launch of ClickHouse Cloud in October 2022. This product was created because modern businesses require quick solutions. Moreover, apart from providing light-fast analytical insights, this platform also delivers enhanced security levels along with usability levels while having more reliability factors.
Informatica recently announced plans to expand the availability of its Intelligent Data Management Cloud (IDMC) throughout the EMEA region during February 2022 with the addition of another Point of Delivery (PoD) based in the UK.
In November 2021, Goldman Sachs and Amazon Web Services, Inc. (AWS), two well-known organizations, formed a partnership to launch the Goldman Sachs Financial Cloud for Data. In this innovative collaboration, a variety of cloud-based data and analytics solutions are offered exclusively for financial institutions. With the help of Goldman Sachs’ extensive knowledge, institutional customers will be able to effectively address data management and analytic challenges with certainty.
Also known as AWS, Amazon Web Services forged an alliance with Goldman Sachs in November 2021 to introduce the Goldman Sachs Financial Cloud for Data. This novel project entails a series of web-based analytic systems dedicated to banks. Geared at helping data administrators address their problems on the way they analyze large amounts of information/data by using it effectively- thus providing them with much-needed confidence in their analytics- thanks in part to Goldman Sach’s long history as one among the world’s best investment banks helping firms solve their most complex matters surrounding trade execution as well as risk analysis etc.
Key Players
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Oracle Corporation (U.S.)
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KBM Group LLC (U.S.)
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Rocket Fuel Inc. (U.S.)
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Salesforce Inc. (U.S.)
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Lotame Solutions Inc. (U.S.)
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Turn Inc. (U.S.)
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Neustar Inc. (U.S.)
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SAS Institute (U.S.)
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Cloudera Inc.
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SAP SE (Germany)
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Informatica (U.S.)
Database Management Platform Segmentation
By Data Type
- First-party data
- Second-party data
- Third-party data
By Data Source
- Web analytics tools
- Mobile web
- Mobile apps
- POS data
- CRM data
- Social network
By End-User
- Ad agencies
- Marketers
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