Database Software Industry 2020 is expected to reach $201.2 billion in 2023

 The database software market consists of sales of database software which are used to develop, modify and maintain database records and files. This software enables users to store data in the form of tables, fields and columns and recover them directly and/or through programmatic access. Database software is used for several reasons ranging from compiling client lists, maintaining bookkeeping tasks to running online web site.

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The EU's General Data Protection Regulation (GDPR) break the split of regulations for the security of transactions in the European Union (EU). GDPR is a regulation that requires businesses to protect the personal data and privacy of EU citizens for transactions that occur within EU member states. This regulation came into effect in May, 2018. The regulation mandates the implementation of data protection practices and any breach in this context could be fined upto 20 million (1.1217 US-Dollar), or 4 percent of global annual turnover. Patent laws are applicable to the database software so as to enable the companies to effectively protect and leverage the commercial value of their innovations. For example, regulations related to protecting innovations in the field of software through patent rights has compiled IBM to apply for a patent of a database management system which uses block chain database technology.

Increase in the amount of data generated by industries in their regular operations and integration of technologies including Internet of Things (IoT) in the process are expected to benefit the forecast period as it rises the need of using database software to handle vast amount of data with confidentiality, integrity, and availability. In addition, the introduction of customer-interface applications and the implementation of cloud computing technologies in industries including small scale enterprises have also increased the demand for database software. For example, companies including Coca-Cola has invested in FileMaker, a custom database software to deal with its large amount of data in a more efficient way. The use of FileMaker enables managers to analyze reports to get a glimpse of what is happening company-wide in-real time.