Database automation market to reach $1.7bn by 2023
The database automation market, inclusive of its solution, service, cloud and security division, its set to reach $1.714bn by 2023, according to a report from MarketsandMarkets.
It is forecast that the market will maintain a compound annual growth rate (CAGR) of 28.3% during the period in question, growing substantially from the $493.4mn that is expected to be recorded in 2018.
The report reveals that the strong growth is likely to be driven by increasing demand for intelligent business processes, with growing innovation within the database automation market expected to continue to satisfy this demand.
The database test automation segment is expected to account for the largest portion of the market as companies look to validate their databases. Meanwhile, North America is predicted to play host to the majority of the sector over the coming years due to the high adoption of database automation solutions.
Further, major vendors include Microsoft, IBM, Oracle, and CA Technologies – all heavily based in the US.
For more information, see the full Database Automation Market – Global Forecast to 2023 report.