Operational Database Management Market
Operational Database Management Market Overview
Operational database management or online transaction processing (OLTP) database is a software for modifying or changing data in real-time. It is designed to process the daily operations of enterprises and corporations by embedding analytics in real-time processes. The global Operational Database Management Market report by Market Research Future (MRFR) looks at the shift towards digitization, emerging trends and opportunities, and competitive intelligence for the period of 2017 to 2022 (forecast period). The COVID-19 pandemic and its impact has been discussed in the report.
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Operational Database Management Market Scope
The global operational database management market is expected to touch a value of USD 79.6 Billion by 2030. It is predicted to register a CAGR of 6.70% over the forecast period.
The market is driven by demand for flexible solutions in cloud with added features of elasticity, scalability, and automated backup. The huge volume of data accumulated can induce the need for operational database management software across mega corporations and multinational companies. The market demand across sectors of insurance, financial services, education, entertainment, telecom, healthcare, energy, and government can fuel the market growth over the forecast period.
The adoption of NoSQL and graph databases for geographically distributed locations is likely to drive the demand for operational DB management software. Separation of storage and computation and a significant uptick in demand for hybrid transactional and analytic processing (HTAP) databases are likely to facilitate demand in the global operational database management market.
Operational Database Management Market Segmentation
The global operational database market has been segmented on the basis of applications, components, organization size and end-users.
The applications in the global operational database market comprise error tracking, data formatting, data validation, and others.
By component, it is segmented into complex hardware and software.
The operational database market can be categorized by organization size into small, medium and large.
By end-user industry, the global operational database management market caters to education, healthcare, government, energy, insurance, entertainment, telecom, financial services, and others.
Regional Analysis
North America is dominating the market of operational database management owing to the presence of global players such as Oracle Corporation and Microsoft Corporation and thereby contributes majorly in growth of operational database. The major factors contributing to increasing market share are development of advanced computer system and integration of cloud services. The growth of data volume and transfer of large data files within corporations can drive the regional operational DB management market till 2022.
On the other hand, APAC is expected to grow in the forecast period due to increase in adoption of operational databases in various sectors such as BFSI and healthcare, where a huge amount of data is to be maintained. Integrity of data and rising cases of fraud can beckon the need for operational database management software in corporations. The utilization of cloud owing to its low operational costs can bode well for the market.
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Competition Outlook
Datastax Inc., Oracle Corporation, MariaDB Corporation, IBM Corporation, Microsoft Corporation, InterSystems Corporation, SAP SE, MongoDB Inc., Aerospike Inc., MarkLogic corp., and Neo Technologies, Inc. are key players of the global operational DB management market. The market is highly competitive with vendors offering installation, integration, deployment, and configuration solutions to their clients. Establishment of data warehouse centers and cloud solutions can disrupt the market in the coming years.
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