According to a market research report "Cloud Database and DBaaS Market by Database Type (SQL and NoSQL), Component, Service, Deployment Model, Organization Size, Vertical (BFSI, Telecom and IT, Manufacturing, Healthcare and Life Sciences), and Region - Global Forecast to 2025", published by MarketsandMarkets, the global cloud database and Database as a Service (DBaaS) market size is expected to grow from USD 12.0 billion in 2020 to USD 24.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.7% during the forecast period. The growing demand to process low-latency queries is one of the major factors driving the growth of the market.