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3. Market players have adopted various growth strategies, such as partnerships, agreements, acquisitions, collaborations, and new product enhancements, to expand their presence in the Cloud Database and DBaaS Market

MarketsandMarkets forecasts the global Cloud Database and DBaaS market size is expected to grow from USD 21.3 billion in 2023 to USD 57.5 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period. The proliferation of cloud-based database solutions and services and the rise in partnerships and acquisitions in the database management space and companies are expected to drive the growth of the cloud database and DBaaS market.

The market players have adopted various growth strategies, such as partnerships, agreements, acquisitions, collaborations, and new product enhancements, to expand their presence in the Cloud Database and DBaaS market. New product launches, collaborations, and product enhancements have been the most adopted strategies by major players in the past few years, which helped companies to innovate their offerings and broaden their customer base.

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Google is a global technology leader that generates revenue by monetizing the information accrued over the internet and advertising. Google’s core products and platforms include Android, Chrome, Gmail, Google Drive, Google Maps, Google Play, Search, and YouTube. Google has its presence worldwide, with the US as its major contributor. The company is focused on developing high-tech products and services with a large investment in R&D, with advertising as its prime business segment. Google’s Cloud Platform (GCP) provides essential building blocks to develop applications easily and quickly. Google Cloud databases enable users to securely migrate, manage, and modernize data with reliable and highly available databases. The company offers products in the cloud database and DBaaS market, such as Cloud SQL, Cloud Spanner, Cloud Bigtable, Cloud Firestore, Firebase Realtime Database, Cloud Memorystore, and BigQuery. These products are best suited for relational and non-relational/NoSQL database types. The aforementioned products are used by various customers, such as Descartes Labs, Signify, Khan Academy, BANDAI NAMCO Entertainment, The New York Times, eBay, Spotify, and Autotrader. Cloud Spanner is a scalable and fully managed relational database service that supports multi-languages, strong transactional consistency, enterprise-grade security, and high availability. It is used by various verticals, such as BFSI, manufacturing, IT, telecom, transport and logistics, gaming, and eCommerce. Cloud Bigtable is a fully managed NoSQL database service used where scalability and reliability are critical and large analytical and operational workloads are required. Cloud Firestore is a serverless, fully managed, fast, and cloud-native NoSQL document database. It syncs data across devices. Moreover, it has built-in security access controls for data. BigQuery is a cost-effective, serverless, and highly scalable data warehouse. It enables customers to quickly make informed decisions. It offers flexible pricing models and provides robust security and governance controls. Furthermore, it is expected that the company will continue to expand its product offerings with the help of technological developments and collaboration.

Alibaba Group operates as an online and mobile commerce company. Alibaba Cloud is a cloud computing arm and a BU of the Alibaba Group. Alibaba Cloud was founded in 2009 and is headquartered in Hangzhou, China. It is a publicly held company and operates as a subsidiary of Alibaba Group. It offers cloud computing services, such as database, elastic computing, storage and Content Delivery Networks (CDN), large-scale computing, security, and management and application services. Alibaba Cloud provides a comprehensive suite of cloud computing services to power international customers’ online businesses and Alibaba Group’s eCommerce ecosystem. Alibaba Cloud’s international operations are registered and headquartered in Singapore. Its international teams are stationed in Hong Kong, Dubai, Frankfurt, London, New York, Paris, San Mateo, Seoul, Singapore, Sydney, and Tokyo. As of 2019, Alibaba Cloud had 55 availability zones across 19 regions worldwide. In the cloud database and DBaaS market, the company offers POLARDB, Tablestore, and Time Series Database.

Related Reports:

Cloud Database and DBaaS Market by Database Type (SQL and NoSQL), Component (Solutions & Services), Deployment Mode, Organization Size, Vertical (BFSI, IT & Telecom, Manufacturing, Healthcare & Life Sciences) and Region - Global Forecast to 2028

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