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[Market Research Report] Global Market for Cloud-Based Data Management Services

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The global cloud-based data management services market is expected to grow at a CAGR of 30.0% during the forecast period, reaching USD 164.5 billion by 2028. Additionally, the AI/ML-driven intelligence of the CLAIR engine, microservices architecture, and a common user experience across all products are contributing to increased productivity in the environment. The BFSI (Banking, Financial Services, Insurance) industry needs to advance digitalization to adapt to changing customer expectations. From customer acquisition to customer service, customization, and predictive analytics, companies now rely on data in every aspect of their operations. Furthermore, transactions using apps and touchless digital banking have become highly prevalent. Companies in the financial services sector are migrating to the cloud to function effectively and agilely.

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