Database-as-a-Service Market Size

Database-as-a-Service (DaaS) Market size was over USD 25.14 billion in 2023 and is expected to exceed USD 225.91 billion by 2036, growing at over 18.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of Database-as-a-Service is evaluated at USD 28.84 billion. The growth of the market can be attributed to presence of large volumes of numbers and data in almost every industry, along with the increasing demand for security for the data. Deployment of DBaas of database as a service can reduce risk of data theft and privacy breach, induce better consumer relations, and offers updates time to time. This is estimated to raise the demand for DBaas in the upcoming years. Moreover, growing technological research and innovation, and upgrades in software and services are estimated to further boost the market growth. Growing penetration of internet, installation of cloud servers, and usage of smartphones are crucial factors estimated to act as growth drivers for the market. According to the World Bank Statistics, 48.997% of the global population used internet in 2018, which is estimated to cross 58% by the end of 2021.