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.
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.
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Microsoft is revolutionizing the market by offering users an ecosystem of partners, including Mariner to help with better planning, easier deployment, and adequate support. Its analytic platform system (APS) has emerged as a clear market winner in recent years.
Amazon’s Redshift is also one such program that empowers users with the control over common administrative task automation.
Major companies are also trying to lower their business expenditure through effective handling of operational efficiency. Kafka and Amazon Kinesis have strengthened their market presence by allowing the organizations use of surface analytics.
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.
Covid 19 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.
The prominent players in the market of operational database market are 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.), and others.
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