Global Graph Database Market is valued at USD 592.2 Million in 2018 and expected to reach USD 2548.3 Million by 2025 with the CAGR of 23.18% over the forecast period.
Increasing need for management of large data sets, rising complexity for dealing relationship of unstructured data and rapid growth of social media networks are driving the growth of the Global Graph Database Market.
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Scope of the Graph Database Market Report:
A graph database is a representation of data in the form of a graph which offers structured data with a dynamic schema. With graph databases, IT and data architecture teams can work quickly because of the easy structure and schema of a graph data model. Graph databases can provide powerful data modeling tools and can allow a large level of flexibility to represent data in a multiple way. It addresses the shortcomings of relational databases for modeling and querying complex relationship. Furthermore, the NoSQL graph database is a technology designed to handle very large sets of structured, semi-structured or unstructured data. It also helps organizations access, integrate and analyze data from different sources, thus helping them with their big data and social media analytics. In graph a database, traversing the joins or relationships is very fast due to the relationships between nodes are continued in the database.
Key players of the graph database market are,
Microsoft, IBM, Neo4j, Orientdb, Oracle, AWS, Teradata Corporation, Tibco Software, Marklogic, Tigergraph, Franz, Datastax, Ontotext, Openlink Software, Arangodb, Sparcity Technologies, Objectivity, Cambridge Semantics, Bitnine, Others
Graph Database Market is segmented on the basis of by solution, industry vertical, & by region & country level. Based on type, graph database market is segmented into software and services. Furthermore, based on industry vertical, graph database market is classified into financial services, manufacturing, public sector, telecom, retail, travel & hospitality and others.
The regions covered in this graph database market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of graph database market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Graph Database Market Dynamics–
The growth of graph database market is primarily driven by an increasing need for management of large data sets, rising complexity for dealing relationship of unstructured data and rapid growth of social media networks. Graph databases are significantly adopted for the reason that they can ideally fit for displaying set of multiple things such as interconnected web links, recommendations, tags, and contact relationship. For example; in 2019, there were about 3.5 billion social media users worldwide that is accounted for 45% of the current population. In addition, growing reliance on highly connected data to generate more precise insights and competitive advantage in businesses is another factor drives the growth of graph database market. However, complexity of integration and lack of understanding regarding its operations may hinder the growth of this market. In spite of that, data analysis and big data with advanced techniques designed to handle structured data will offer great opportunities for this market in the coming years.
Graph Database Market Segmentation:–
By Solution: Software, Services
By Industry Vertical: Financial Services, Manufacturing, Public Sector, Telecom, Retail, Travel and Hospitality, Others
North America is Expected to Dominate the Global Graph Database Market.
North America is expected to dominate the global graph database market due to the wide presence of leading graph database vendors, increasing demand for data analysis for managing unstructured data and existence of large scale healthcare system in this region. For example; in 2017, the U.S. health care spending increased by 3.9 % reached USD 3.5 trillion. Also spending for hospital care increased 4.6 % to USD 1.1 trillion in 2017. In the U.S. increasing complexity of real-world data and growing needs for handling graph queries, several graph databases have been developed for last few years. Asia pacific is growing exponentially in terms of graph database market owing to the rapid expansions of number of businesses as well as many organizations connect with graph database and to simulate the current healthcare systems.
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