Global Open Database Connectivity (ODBC) Analysis Report 2024: Forecasted to Surge to $3.67 Billion in 2028 with a Robust CAGR of 19.5% - Long-term Forecasts to2033 [Yahoo! Finance]
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Source: Yahoo! Finance
The open database connectivity (ODBC) market is poised for significant growth, projected to expand from $1.5 billion in 2023 to an estimated $1.8 billion in 2024, showcasing a vigorous compound annual growth rate (CAGR) of 20%. This market expansion is attributable to a constellation of influential factors: the proliferation of relational databases improving data management, heightened cross-platform software compatibility, stringent regulatory compliance requirements, and the pervasive impact of the internet on business growth and innovation. Looking ahead to 2028, forecasts indicate the ODBC market will continue on its growth trajectory, reaching a valuation of $3.67 billion at a consistent CAGR of 19.5%. Market momentum is expected to be sustained by the continued adoption of cloud computing, the advancements in big data and analytics, the integration of the Internet of Things (IoT), rising cybersecurity concerns, and the emergence of edge computing. Trends such as increased clo
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