Cloud Based Data Management Services Market Size, Share, Growth Report 2030

Global Cloud Based Data Management Services Market: Overview

The Global Cloud Based Data Management Services Market accounted for USD 16.7 Billion in 2020 and is expected to reach USD 146.1 Billion by 2028, growing at a CAGR of 31.2% from 2021 to 2028.

Cloud based data management refers to storing the company’s data on an off-site server typically managed by a vendor or third party which specializes in cloud services. Storing data on cloud services provides an automated backup option, easily accessible from any location and professional support. It is often considered to be safer and secure than the on-location data storage facilities. It also provides the option of scalability which is the users can scale it up or down depending upon the demand and requirement. Cloud based data management services are automatically updated as and when required by the vendor so the clients or users don't have to pause on their on-going work.

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COVID-19 Impact Analysis

The COVID-19 pandemic forced many sectors to operate in a work from home culture, the requirement for remote facility providers escalated. Cloud based data management services bring the facility of remote access which is accessible from any premise or location. Thus, these services saw an upsurge in demand. Requirement of collaboration and digital productivity tools such as Microsoft and Zoom also saw uptick in usage due to the pandemic which also runs on cloud based data management infrastructure.

Global Cloud Based Data Management Services Market: Growth Factors

Industries are using cloud based data management services in order to provide resilient and disaster averse business models across the world. As the pandemic continues the need for a lesser number of onsite staff is emphasized and focussed upon. Along with this several macroeconomic factors and internal market forces will shape up the growth of cloud based data management services.

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End Use Segment Analysis Preview

The BFSI segment is projected to grow at a CAGR of around 28% from 2021 to 2028. The finance sector leverages the benefit that cloud based data management brings along with itself, which is the low cost of maintenance of servers and extremely powerful security system. Even the healthcare sector has been a major user of the services as it is slowly beginning to utilize the cloud in order to store client data.

Regional Analysis Preview

North America region held a share of over 28% in 2020. North America houses some of the biggest and leading IT companies in the world. The adoption rate of cloud based data management services is very high in the region. This large market is a result of a number of government initiatives, high speed internet services available in the market, and major organizations moving to cloud based data management services to improve information facilities. However, the market is currently in the maturity state. Thus, a little growth is expected over the coming years.

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Asia Pacific region is projected to grow at a CAGR of over 30% during the forecast period. Asia pacific is expected to be a fastest growing region for the cloud based data management services market. It is supported by digital transformations which is evident in countries like China where companies are focussing on reducing security risks and optimizing operations for the end users by keeping up with the latest technologies.

Cloud Based Data Management Services Market: Key Players & Competitive Landscape

Some of the key players in the global cloud based data management services market are IBM, HP, NetApp, SAS, Informatica Cloud, Actian Corporation, Cisco Systems Inc., Dell Technologies, and Fujitsu Ltd., among others.

These companies adopt various strategies in order to boost their capitalization. For instance, Informatica Intelligent Cloud Services which is a next generation iPaaS, is made up of a growing number of data management products. The productivity of the environment is accelerated by a common user experience across all products, the AI/ML-driven intelligence of the CLAIR engine, and microservices architecture.

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The global cloud based data management services market is segmented as follows:

 By Model

• Software-as-a-Service (SAAS)
• Platform-as-a-Service (PAAS)
• Infrastructure-as-a-Service (IAAS)

 By Application

•  Public Cloud
•  Private Cloud
•  Others

 By End Use

• BFSI
• Telecommunications and IT
• Retail
• Public Sector
• Others

 By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa