The global Database Management System (DBMS) market allows organizations to centrally store and control the access, use, sharing and administration of enterprise data through a standardized system of databases and database management. DBMS provide efficiency, security and governance of critical organizational data by allowing structured querying, retrieval, updating and management of databases. Features such as indexing, locking mechanisms, change data capture, centralized administration and logging functionalities ensure robust control over the database environment.
The global Database Management System Market is estimated to be valued at US$ 56.16 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends supporting the growth of DBMS market is the evolving data landscape in modern enterprises. Organizations across all industries are witnessing unprecedented growth in data volumes from operational systems, customer transactions, sensors and interconnected devices. This massive surge in internal and external data has amplified the need for centralized database solutions to securely store, integrate and retrieve relevant insights from distributed data sources. Additionally, advanced analytics techniques such as machine learning and predictive modeling are further driving adoption of DBMS to develop application programming interfaces (APIs) for self-service analytics. DBMS providers are enhancing capabilities such as in-memory analytics, GPU databases and distributed cloud databases to enable real-time analytics on large datasets. These factors will continue to expand the addressable market for DBMS vendors over the forecast period.
Porter’s Analysis
Threat of new entrants: High capital requirement for infrastructure setup and compliance with various regulations pose entry barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of several vendors offering database management system solutions.
Bargaining power of suppliers: Suppliers have low bargaining power due to availability of substitute components and differentiation in offerings.
Threat of new substitutes: Threat of substitution is moderate as there are no direct substitutes for database management system currently.
Competitive rivalry: The competitive rivalry is high due to presence of key global and regional players offering varied capabilities.
Key Takeaways
The Global Database Management System Market Size is expected to witness high growth.
Regional analysis: The Database Management System market in North America is expected to dominate during the forecast period followed by Europe. This is attributed to significant presence of key players and early adoption of advanced technologies in the region. The Asia Pacific region is anticipated to register fastest growth owing to growing digital transformation initiatives, increasing IT spending, and rising demand for cloud-based database solutions in various industries.
Key players: Key players operating in the Database Management System market are Novo Nordisk, Sanofi, Eli Lilly, Biocon, Gan & Lee Pharmaceuticals, Tonghua Dongbao Pharmaceutical, United Laboratories, Medtronic, Beta Bionics, Zealand Pharma, MannKind, Peptron, Dexcom, Senseonics, Medtrum Technologies, SOOIL Development, Semma Therapeutics.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it