The Cloud based Data Management Services market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 32.9% during the forecast period, to reach USD 141.2 billion by 2027 from USD 34.0 billion in 2022.
The major players have adopted various growth strategies to expand their global presence and increase their market reach to enhance customer base. Key players such are IBM (US), Fujitsu (Japan), Cisco (US), Dell Technologies (US), and HPE (US) have majorly adopted strategies such as product launches and upgradations, partnerships, agreements, merger and acquisitions to gain market presence and to support the growth of Cloud based Data Management Services market.
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IBM is one of the strongest cloud service providers in the global Cloud based Data Management Services Market. The company offers a wide range of services, such as data backup services, database management solutions, backup and recovery services, business continuity services, data virtualization, and disaster recovery services. In addition, the company has a vast partner ecosystem consisting of resellers, managed service providers, alliance partners, embedded system partners, and distributors, which help the company deliver an efficient and cost-effective solution to its global customers. IBM is present in over 175 countries, with its geographic presence in North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Fujitsu is one of the leading global providers of Cloud based Data Management Services Market. It is gradually increasing its focus on strengthening its business performance portfolio. The company has adopted effective organic and inorganic growth strategies to attain maximum market growth. In April 2021, RIKEN and Fujitsu announced the opening of the RIKEN RQC-Fujitsu Collaboration Center to promote the joint R&D of foundational technologies to put superconducting quantum computers into practical use. The company is also focusing on the development of 5G network services across the globe. The company is actively investing in innovating products and services. It adopts organic and inorganic growth strategies to attain a competitive position in the market.
Cloud Based Data Management Services Market by Service Type (Integration, Security & Back-up, Quality), Service Model (SaaS, PaaS, IaaS), Deployment Mode (Public, Private), Vertical, Region - Global Forecast to 2027
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