Why NoSQL Databases Are Dominating the Cloud Era – Trends, SaaS Growth & Financial Insights

Introduction

With the advent of the industrial internet era, NoSQL database technology, which began in 2009, has played an important role in China's digital transformation, presenting increasing enterprise opportunities and challenges.

What Is NoSQL Doing?

According to DB‑Engines popularity rankings, non‑relational databases led by MongoDB perform well, ranking fifth, followed by Redis and Elasticsearch, all consistently in the top‑10, thanks to successful open‑source operating models.

Notably, NoSQL vendors are launching SaaS products, exemplified by MongoDB Atlas and Elastic Cloud.

MongoDB Atlas continues strong growth.

Elasticsearch Cloud exceeds expectations.

MongoDB Financials

Revenue reached $227 million, a 50 % year‑over‑year increase; subscription revenue was $217.9 million (up 51 %), and services revenue $9 million (up 35 %).

In Q3 2021, Atlas revenue grew 84 % and the customer base exceeded 31,000.

MongoDB’s stock surged, making it the only open‑source listed company with a market value over $30 billion.

Elastic Financials

Total revenue was $206 million, up 42 % YoY (41 % at constant exchange rates); subscription customers exceeded 17,000.

In Q3, Elastic Cloud revenue reached $69 million, an 84 % YoY increase.

The strong Q2 performance stems from rapid adoption of Elastic Cloud, which is expected to account for over 50 % of total revenue within three years.

These trends suggest that leading NoSQL databases will likely offer their own SaaS services, leveraging strong technical foundations to reduce complexity, automate operations, and enable faster data‑driven decisions.

NoSQL and Cloud Providers

Both domestic and international cloud providers now offer mainstream NoSQL services such as Redis, MongoDB, and Memcached, and some have introduced new products based on NoSQL kernels, meeting diverse user needs within their ecosystems.

Open‑source NoSQL solutions face commercialization challenges and inherent conflicts with cloud vendors, but can adjust licensing to define cooperative norms, supporting healthy development.

NoSQL SaaS Evolution

The NoSQL market continues rapid growth, with a projected compound annual growth rate of up to 13 % from 2021 to 2025. Services like Redis, MongoDB Atlas, and Elastic Cloud demonstrate that advanced automation ensures availability, scalability, and compliance with security standards.

Globally, SaaS versions of open‑source software are gaining enterprise acceptance; in China, digital transformation drives increasing adoption of SaaS‑based open‑source solutions, leveraging cloud‑native and serverless technologies to lower costs and let enterprises focus on core business.