Open Database Connectivity (ODBC) Market Report 2024: Market Insights And Future Outlook
Open Database Connectivity (ODBC) Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
The Business Research Company’s Open Database Connectivity (ODBC) Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 9, 2024 /EINPresswire.com/ -- The open database connectivity (ODBC) standard serves as a crucial interface facilitating seamless interaction with diverse Database Management Systems (DBMS). It streamlines the process for applications to connect, interact, and manage connections with databases, promoting efficiency and integration across platforms.
Market Size and Growth
The open database connectivity (ODBC) market has exhibited robust growth, with revenues expected to rise from $1.46 billion in 2023 to $1.71 billion in 2024, marking a notable compound annual growth rate (CAGR) of 17.4% during this period. This growth trajectory is attributed to the proliferation of data, enhanced cross-platform compatibility, and increasing adoption of IoT and open-source initiatives.
Looking ahead, the market is poised to expand further, reaching approximately $3.20 billion by 2028, driven by escalating demands for big data solutions, multi-database compatibility, stringent regulatory requirements, real-time data processing capabilities, and heightened concerns over data security. The forecasted CAGR for the period stands at 17.0%, underscoring sustained market momentum and technological advancements.
Explore the Open Database Connectivity (ODBC) Market
Gain comprehensive insights into the dynamics, trends, and growth opportunities of the global ODBC market with our detailed sample report: https://www.thebusinessresearchcompany.com/sample_request?id=14152&type=smp
Rising Cloud Adoption Fuels Market Expansion
The surge in cloud adoption is a pivotal factor propelling the growth of the open database connectivity (ODBC) market. Organizations worldwide are leveraging cloud technologies to enhance operational efficiency, scalability, and cost-effectiveness of database management. Cloud services offer a compelling alternative to traditional infrastructure, aligning with business objectives to optimize resources and mitigate risks.
For instance, as of December 2023, Eurostat reported a significant increase in cloud service adoption among EU businesses, highlighting a strategic shift towards cloud computing to access software, processing power, and storage. This transition underscores the pivotal role of ODBC in enabling seamless database connectivity across diverse cloud-based DBMS environments, ensuring streamlined operations and enhanced data accessibility.
Key Players and Innovations
Leading companies in the open database connectivity (ODBC) market are at the forefront of innovation, continuously enhancing ODBC drivers to foster efficient data interaction across varied database landscapes. Major players such as Microsoft Corporation, Oracle Corporation, and Amazon Web Services Inc. are pioneering advancements in ODBC technology to cater to evolving customer needs and industry demands.
For instance, Amazon Athena introduced an upgraded ODBC driver in June 2023, aimed at optimizing connectivity, querying, and visualization capabilities for SQL development and business intelligence applications. This enhanced version supports AWS IAM authentication and enables direct query result retrieval from Amazon S3, streamlining data access and accelerating analytical insights.
Regional Insights
In 2023, North America dominated the open database connectivity (ODBC) market, driven by extensive adoption of advanced database technologies and robust IT infrastructure. Meanwhile, Asia-Pacific is anticipated to emerge as the fastest-growing region during the forecast period, fueled by expanding digital transformation initiatives, increasing IT investments, and rising adoption of cloud-based solutions across various industry verticals.
Explore the report store to make a direct purchase of the report
https://www.thebusinessresearchcompany.com/report/open-database-connectivity-odbc-global-market-report
Open Database Connectivity (ODBC) Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Open Database Connectivity (ODBC) Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on open database connectivity (ODBC) market size, open database connectivity (ODBC) market drivers and trends, open database connectivity (ODBC) market major players, competitors' revenues, market positioning, and market growth across geographies. The open database connectivity (ODBC) market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
Browse Through More Similar Reports By The Business Research Company:
Vector Database Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/vector-database-global-market-report
IoT Connectivity Management Platform Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/iot-connectivity-management-platform-global-market-report
Database Monitoring Software Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/database-monitoring-software-global-market-report
About The Business Research Company
The Business Research Company has published over 27 industries, spanning over 8000+ markets and 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.
Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
Visit us on social media:
Facebook
X
LinkedIn
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
