Database Management Software Market Expected to Reach $20.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Database Management Software Market," The Database Management Software Market Size was $5.3 billion in 2021, and is estimated to reach $20.5 billion by 2031, growing at a CAGR of 14.7% from 2022 to 2031.

Database monitoring software is defined as a distribution of software systems at different levels to increase efficiency and productivity and also helps in analyzing the big data so that problems can be solved quickly. Their main function is to identify, evaluate and calculate the performance of an application and remove the factor that is causing problems. This software is widely used in industries like telecommunications, media and entertainment, government, and healthcare among others. Aforementioned are Database Management Software Market Forecast factors during the cosidered time duration of DBMS Market analysis.

Furthermore, rise in the amount of data generated by industries accelerates demand for database monitoring tools and the rising deployment of cloud computing technologies is boosting the growth of the global DBMS Market. In addition, surge in the government & private investments in database monitoring software positively impacts the growth of the market. However, increasing laws and regulations associated with software development tools are hampering the market growth. On the contrary, the need to optimize and enhance database performance is expected to offer remunerative opportunities for market expansion during the forecast period.

Depending on deployment model, cloud based holds the largest share of the market. This is attributed due to increased adoption of cloud computing in the enterprise. Databases are evolving to handle more data and incorporate more intelligence. However, On-premises segment is expected to grow at the highest rate during the forecast period, due to the outbreak of COVID-19 pandemic, sudden scaling of VPN access was required and rationing of services was needed. For instance, in some banks, employees were required to log in to fetch their emails only at scheduled and limited times during the day which is negatively affecting the growth of the on-premise segment.

Region wise, the database monitoring software market was dominated by North America in 2020, and is expected to retain its position during the forecast period, owing to the expanding market presence of database management systems across the region. Moreover, several companies are forming partnership programs for increasing their market reach. However, Asia Pacific is expected to witness significant growth during the forecast period, various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events in the Asia-Pacific region. For instance, in April 2022 Tata Consultancy Services launched an agile and intuitive monitoring solution for clinical trials, that enables intelligent decision making, increased compliance, and improved study efficacy is driving the database monitoring software market in Asia-Pacific region.

The adoption of cloud computing by several industries such as banks and financial institutions has boosted the growth of the market during the pandemic. The enterprises are adopting cloud computing data for managing the data owing to advanced securities in cloud technologies. In addition, the work-from-home trend allowed the employees to keep the data in the system without the need to visit branches or offices, which requires database monitoring software to track the effective utilization of data. Moreover, the implementation of lockdowns around the countries prevented the movement of people which boosted the demand for database monitoring software in various sectors.

KEY FINDINGS OF THE STUDY

• By deployment model, cloud-based segment accounted for the largest Database Management Software Market Share in 2021.
• Region wise, North America generated highest revenue in 2021 as per Database Management Software Market Analysis.
• Depending on enterprise size, large enterprise generated the highest revenue in 2021 for Database Management Software Industry.

The key players profiled in the Database Management Software Industry are dbWatch AS, eG Innovations, Heroix Corporation, Nagios Enterprises, LLC, Paessler AG, Quest Software Inc., Red Gate Software Ltd., Sematext Group, SolarWinds Worldwide, LLC, and VirtualMetric. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.