Operational Database Management Market, by Application (Data Formatting, Data Validation, Error Tracking), by Component (Hardware, Software), by Organization (Small, Medium, Large), by End-User (Government, Healthcare, Telecom) – Forecast 2022
Pune, India – December 7, 2018 —
The global market of the operational database is projected to ascend at an impressive CAGR of 5% during the review period (2016-2022) to touch USD 28 Bn mark by 2022, reports Market Research Future (MRFR). The process which is also known as On-Line Transaction Process (OLTP) gives an unprecedented advantage over the traditional methods by providing the user with access to real-time management of the rapidly increasing and changing data. Operational databases store, modify, and manage data in real-time.
An operational database management system which is also called OLTP -On Line Transaction Processing databases are used to manage rapidly increasing and changing data in real-time. The database allows to modify the data which includes add, change or delete data, doing it in real-time. In Operational database, all kinds of business information such as information about a business department, employees, proposals, and training status among others are stored in the database in real time.
This market is driven by the increasing demand of the cost-effective and flexible solutions in cloud along with features like elasticity, scalability and automated backup. Demand for operational database will increase in data depository of various organization is becoming difficult to manage with the traditional approach. The demand of operational database is increasing across various industries such as healthcare, government, energy, insurance, financial services, entertainment, education and telecom among others.
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Major Key Players
• Oracle Corporation (U.S.),
• Microsoft Corporation (U.S.),
• IBM Corporation (U.S.),
• SAP SE (Germany),
• InterSystems Corporation (U.S.),
• MariaDB Corporation (Finland),
• MongoDB Inc. (U.S.),
• MarkLogic Corp. (U.S.),
• Neo Technologies, Inc. (U.S.),
The Global Operational Database Management Market is expected to grow from US ~$28 Billion in 2016 to US~$ 60 Billion by 2022, at an estimated CAGR of ~5%. However, security & privacy concern among the users is one of the major restraints affecting the market growth.
Drivers and Restraints:
With the increase in the amount of data, proper backup has become imperative to allow storage of data, adequate analysis, and quick recovery. The traditional methodology is no longer suited compared to that of the operational database. Without getting much intrigued by application programs, this database offers better integrity without the errors of repetition.
The operation database has created a niche for itself in diverse sectors such as healthcare, banking & financial institutions, and others. This is due to its customizability and effective formatting procedures which give the end-users an advantage. Fetching of real-time data enables businesses to adopt quick and better solutions.
However, operational database management is not error-proof. Increasing number of cyber-attacks is a concern that can impede the market growth during the forecast period.
The global operational database management market can be segmented on the basis of application, component, organization size and end-user.
Application-wise segmentation includes data formatting, data validation, error tracking, and others.
Based on component, the market can be segmented into hardware and software.
Organization size based segmentation includes small, medium, and large. Small industries are rapidly adopting this efficient technology to scale their operations. They are also providing the market with a substantial boost that could enhance the prospect of the global market.
Based on end-users, the market is segmented into healthcare, government, energy, insurance, financial services, entertainment, education, telecom, and others. Bank, insurance, and financial services are among the top revenue generators.
The global operational database management market can be segmented by North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is leading the market from the front owing to its trend of adopting the latest technologies faster and a robust infrastructure that could support the cloud-based technology. In addition, the presence of multiple market giants and the presence of a considerable number of end-user industries have helped the market benefit from the implementation of such technology.
Europe is following North America closely in terms of generating the revenue and expanding the business. Various manufacturing and transportation companies are also incorporating this system at a rapid speed ensuring a prosperous market ahead.
APAC is a region with the highest potential for growth and value. The market players have realized the importance of operational database management and currently compete with the international brand players in terms of quality and pricing. Also, the presence of a number of developing countries has helped the region in registering thriving industries across myriad sectors which is again widening the horizon for implementation of the operational database.
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• Software distributors
• Software developers
• Service providers
• Cloud service providers
• DBMS solution providers
• Small & medium size businesses
• Industrial end users
LIST OF TABLES
TABLE 1 GLOBAL OPERATIONAL DATABASE MARKET, BY APPLICATION
TABLE 2 GLOBAL OPERATIONAL DATABASE MARKET, BY COMPONENT
TABLE 3 GLOBAL OPERATIONAL DATABASE MARKET, BY ORGANISATION SIZE
TABLE 4 GLOBAL OPERATIONAL DATABASE MARKET, BY END USER INDUSTRY
TABLE 5 GLOBAL OPERATIONAL DATABASE MARKET, BY REGIONS
TABLE 6 NORTH AMERICA OPERATIONAL DATABASE MARKET, BY APPLICATION
TABLE 7 NORTH AMERICA OPERATIONAL DATABASE MARKET, BY COMPONENT
TABLE 8 NORTH AMERICA OPERATIONAL DATABASE MARKET, BY ORGANISATION SIZE
TABLE 9 NORTH AMERICA OPERATIONAL DATABASE MARKET, BY END USER INDUSTRY
TABLE 10 U.S. OPERATIONAL DATABASE MARKET, BY APPLICATION
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Name: abhishek Sawant
Organization: Market Research Future
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This news is published on Reuters.