An exciting trend has occurred in the database market due in large part to cloud computing and storage growth. The way that businesses and organizations of all sizes invest in data has evolved significantly over the years and even more so since the arrival of cloud storage. One study reveals that enterprises spent more than $38.5 billion on database management systems in 2017. Now, five years later, industry experts are estimating database market growth to have reached $80 billion worldwide. What could have caused spending to increase so much in such a short period of time? Companies have begun investing in cloud database solutions, shifting their focus from large and costly server rooms to take advantage of the benefits of cloud storage and cloud computing.
The Rise of Cloud Database Solutions
Data has always been an essential element of business, but collecting, analyzing, and storing that information has changed much in recent years. With more and more industries and individual organizations shifting their data to the cloud, it is estimated that nearly half of all database revenue is now invested in cloud database solutions. While cloud computing is still relevantly new, it has been put to the test – most recently during the global pandemic – and has proven its value. Some may have thought the benefits of cloud storage to be short-lived or trendy, but it definitely has staying power and room for future growth.
One study shows that there has been a consistent rise in the use of cloud databases going as far back as 2012. So while it may seem brand new and untested to those looking at it from the outside, enterprises have been using, testing, exploring, and expanding their use of cloud database solutions for a decade. Database market growth is not a spiking, surprising phenomenon but an anticipated and dedicated expansion, which has accelerated as more and more industries appreciate and require its value. The benefits of cloud storage and database solutions are becoming more well-known and are being embraced by businesses and organizations of all sizes, including small-to-medium-sized (SMB) companies.
Moving On-Premises Infrastructure to the Cloud
Industry watchers recognized more than five years ago that the use of cloud database solutions was on the rise. As businesses made the shift from on-premises infrastructure to the cloud, they began to see the true benefits of cloud storage. Cloud databases move the data closer to both the consumers and the creators of data, making it easier for organizations to scale their use of cloud computing to meet demand and financial requirements. Improvements to management and expansion, allowing real-time growth without a lot of increased investment, make it even more favorable to enterprises that have had to spend a lot to keep up with the industry’s ever-changing demands.
Cloud computing has been a complete game-changer. Some organizations have made the transition seamlessly, making marked improvements that have catapulted them to new heights of success. While others have not fared as well, either delaying their move to such a degree that it hindered their ability to take advantage of all the benefits of cloud storage or by stifling their own success through limited investments. For those who keep an eye on database market growth, some of the recent changes to the success of industry leaders have been surprising, while others have been entirely predictable. Microsoft remains in the top spot for overall data revenue, followed by AWS, Oracle, Google, and IBM.
Are You Ready to Do More with the Cloud?
Whether you are heavily invested in cloud database solutions or if you are just now exploring the benefits of cloud storage and cloud computing, there is always much more that can be done. Synivate specializes in providing our clients with innovative technology solutions designed specifically for their unique needs and requirements. There is no single solution for every business when it comes to cloud computing. We work to identify your needs and help you make smart decisions based on what you want to put into the cloud and the amount of security or encryption required. Contact our team today by calling 617-848-1248 or by signing up on our website to take advantage of our free network assessments and evaluations.