06 Jun Database solutions market ready to boom
The use of database solutions is growing across the business landscape. With more systems going digital, the amount of information that can be gathered and analyzed is increasing exponentially. With all this raw data now available, companies need to find a way to harness it and that means proper databasing and analytic solutions have become more important.
A recent article from Database Trends and Applications makes the case that in the current digital landscape, data has become king. The marketplace is heating up and the number of solution providers is increasing in size and public awareness, resulting in the IT community quickly realizing the opportunity specific business systems like NoSQL, Hadoop and FileMaker.
According to a Wikibon forecast cited in the piece, this database marketplace topped $540 million in 2012 and in the next five years that will increase to nearly $3.5 billion. That is a compound annual growth rate of 45 percent.
"Database solutions today must be able to support extremely diverse application use cases that cross all major verticals for core business and mission applications," the article reads. "Data is king, and the demand to find new ways for storing, processing, analyzing, and mining data continues to provide green fields of opportunity for traditional relational database vendors."
For many organizations, custom database development can be the best way to take on the need for a database solution. While any organization can buy a system off the shelf, to truly optimize it, companies should tailor the solution to what they actually need.