Rise in the amount of data generated by industries accelerates demand for database monitoring tools and the rising deployment of cloud computing technologies is boosting the growth of the global database monitoring software market.
In addition, the surge in government & private investments in database monitoring software positively impacts the growth of the market. However, increasing laws and regulations associated with software development tools are hampering the market growth.
On the contrary, the need to optimize and enhance database performance is expected to offer remunerative opportunities for market expansion during the forecast period.
According to a new report published by Allied Market Research, The Database Monitoring Software Market size was $5.3 billion in 2021, and is estimated to reach $20.5 billion by 2031, growing at a CAGR of 14.7% from 2022 to 2031.
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Region-wise, the database monitoring software market was dominated by North America in 2020 and is expected to retain its position during the forecast period, owing to the expanding market presence of database management systems across the region.
Moreover, several companies are forming partnership programs for increasing their market reach. However, Asia Pacific is expected to witness significant growth during the forecast period, various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events in the Asia-Pacific region.
For instance, in April 2022 Tata Consultancy Services launched an agile and intuitive monitoring solution for clinical trials, that enables intelligent decision-making, increased compliance, and improved study efficacy is driving the database monitoring software market in the Asia-Pacific region.
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Depending on the deployment model, cloud-based holds the largest share of the market. This is attributed due to the increased adoption of cloud computing in the enterprise. Databases are evolving to handle more data and incorporate more intelligence.
However, the On-premises segment is expected to grow at the highest rate during the forecast period, due to the outbreak of the COVID-19 pandemic, sudden scaling of VPN access was required and rationing of services was needed. For instance, in some banks, employees were required to log in to fetch their emails only at scheduled and limited times during the day which is negatively affecting the growth of the on-premise segment.
The key players profiled in the database monitoring software market analysis are dbWatch AS, eG Innovations, Heroix Corporation, Nagios Enterprises, LLC, Paessler AG, Quest Software Inc., Red Gate Software Ltd., Sematext Group, SolarWinds Worldwide, LLC, and VirtualMetric. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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