New-York based database provider MongoDB has churned out an S-1 filing for an IPO to be made official within the remaining year.

Initially going by the name '10gen' when it first started in 2007, MongoDB provides database services to companies such as Adobe (ADBE  ), eBay (EBAY  ) and Citigroup (C  ), making it a major player in the database market.

What's more impressive is the fact that MongoDB had a valuation of $1.6 billion around 2 years ago, when it raised more than $300 million in its last round of funding. Then, in May, the company had enlisted some investment bankers in order to get the IPO going. It is safe to say that MongoDB is fairly confident its move to go public will be a positive one. This casts some light on the slowly but surely growing business of global database management, which has been underhandedly gaining traction due to the advent of cloud computing.

According to Market Research Future, "The global Database Management System (DBMS) Market is anticipated to accrete to USD 63 Billion by 2022, at a striking CAGR of 8 % between 2016 and 2022." Other database giants include Oracle Corporation (ORCL  ), Embarcadero Technologies (EMBT  ), IBM (IBM  ) and MarkLogic.

This new market is propelled forward by a variety of factors, principally including the need to build upon new data sharing data security methods as well as to mitigate data integration. Many small-scale corporations, including non-profits, also possess a high demand for such database systems to record customer or donor data in a fashion that makes it easy to continually update information. Thus, the growth of the database management market is usually directly proportional to the growth of smaller businesses in an economic boom or upswing, because these businesses need to simultaneously expand their records as their customer base increases.

A report by Market Research Future states:

One of the growing application areas of DBMS is in BFSI and Healthcare industry. Recent studies show these days BFIS and Healthcare sectors are the prime targets of hackers, and cloud computing is helping these industries on a broader scale to secure and manage their confidential data. Growing industrialization in Asian countries and high adoption of technology in the business process are pushing the market.

One such example of this 'application' of databases in business and tech systems can be found in Amazon (AMZN  ). Amazon and Oracle have been competing in the cloud-computing space, with Amazon announcing last autumn that it would release a public beta of a 'PostgreSQL,' which is a form of open-source database. A company like MongoDB could therefore be extremely useful to corporations getting caught up in database management battles, rendering its impending IPO a perfectly timed masterstroke.

Keep in mind that the IPO will be a 'confidential' one, implying that MongoDB will only display its financials 15 days prior to the actual investor roadshow. This would give it enough time to solidify its position in a ever-growing market, reaping the benefits at their prime.