Non Relational Database Management System Market Forecast to Reach $45.4 Billion by 2026
Supports Low Latency Applications and Increasing Storage Capacity Driving the Growth of Non Relational Database Management System Market
Global Non Relational Database Management System Market is forecast to reach $45.4 billion by 2026, growing at a CAGR of 12.7% during the forecast period from 2021 to 2026. The Non Relational Database Management System market is driven primarily by the factors such as increasing structured as well as unstructured data in the market due to fast growing businesses and industries across the globe as well as increasing demand for NoSQL databases and schemaless databases. Moreover, high flexibility and elastic scalability are some major reasons for rising popularity of Non Relational Database Management System systems. High demands for low-latency Document database applications are expected to fuel the market growth of non relational database management system in the near future.
Non Relational DBMS Market Segment Analysis - By Organization Size
Large enterprises held the largest share in the Cloud Database Market in 2020 and is projected to grow at a CAGR of 11.1% through 2021-2026. Large enterprises are majorly opting for private cloud databases based on No SQL implemented storage thereby ensuring security along with additional benefits including reduced infrastructure configuration, management overheads and so on. Enterprises can use the cloud virtualization solutions, tools and databases to develop their cloud based applications and solutions. The rising usage of databases as a virtual image machine will further drive the market.
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Non Relational DBMS Market Segment Analysis - By End Use Industry
IT and Telecom held the major market share in the Non reelational DBMS Market in 2020 and is also analyzed to grow at highest CAGR of 9.7% during the forecast period 2021-2026. Document Databases are majorly deployed in IT industry majorly owing to the advantages such as high scalability, low cost and accessed through cloud platform.
Non Relational DBMS Market Segment Analysis - Geography
North America is expected to have a major growth in the global Non Relational Database Management System market during the forecast period from 2021 to 2026. The presence of key players such as Oracle Corporation, IBM and Microsoft are acting as major drivers for the growth of Non Relational Database Management System market. Oracle contributed for a major share in the cloud database market during 2020, thus adding to the growth rise in the U.S market. Increasing demand of cloud computing by large enterprises can also help in fuelling the market growth for DBMS market.
Non Relational DBMS Market Drivers
Supports low latency applications
The rising demand of Non Relational Database Management System systems are growing due to overcoming problems faced by relational database systems. The Dynamo DB by Amazon is helping to trigger the market growth of Non Relational Database Management System systems due to its use in low latency applications. Investments of fast growing businesses and various enterprises towards the Non Relational Database Management System due to their high demands towards a highly flexible and scalable system to support heavy critical workloads.
Increasing storage capacity
With rapid technological growth, there is rise of structured as well as unstructured data in the market. Large enterprises as well as small scale businesses, both require a flexible database to store their huge amounts of data securely. With the adoption of cloud database systems, industries are able to store their massive amounts of data efficiently as cloud offers high storage capacity.
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Non Relational DBMS Market Challenges
As the technology is advancing at a rapid pace, adoption of cloud based technology in advanced data management systems are gaining popularity in the database market With the use of Non Relational Database Management System systems, data storage and management has become more smooth and efficient.
Non Relational DBMS Market Landscape
The major key players in the Non Relational Database Management System Market include IBM Corporation, Amazon Web Services, Oracle Corporation, Microsoft Corporation, Google, Redis labs, Rackspace Inc., MongoDB Inc., Alibaba Cloud, SAP and Tencent.
In February 2020, Couchbase launched fully manageable database service called Couchbase cloud for enterprises. This cloud database service will help the customers to retain full control on their data using their own virtual private cloud. As per company claims, this database service will be providing support to multiple cloud providers and offer multiple pricing options regarding user’s infrastructure consumption.
In October 2019, Alibaba Cloud had collaborated with Mongo DB which helped China to get access of authorized MongoDB service This partnership was made by Alibaba in order to provide customer management support for current and future MongoDB versions with bug fixes. As stated by CEO of Mongo DB, this new partnership with Alibaba had helped it to establish its database service in a new market and also got selected in the list of top three cloud providers.
The Cloud model is expected to have a major growth during the forecast period 2021-2026 owing to its use in mobile, web, adtech and many other related applications.
Key market players such as Oracle Corporation and Amazon Web Services contributed with major shares in the database management market in 2020, which helped in fuelling the market growth in North America region.
With large industries facing problems for storing their massive amounts of data, adoption of cloud database systems can help them majorly in successfully managing sensitive company information systematically.
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