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Amid the COVID-19 crisis, the global market for Database Management Systems (DBMS) estimated at US$63.9 Trillion in the year 2020, is projected to reach a revised size of US$142.7 Trillion by 2027, growing at a CAGR of 12.2% over the period 2020-2027.
Software, one of the segments analyzed in the report, is projected to record 13% CAGR and reach US$109.2 Trillion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hardware segment is readjusted to a revised 9.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $17.2 Trillion, While China is Forecast to Grow at 16% CAGR