Graph Database Market - Global Industry Analysis

Graph Database Market

Graph Database Market Size, Share and Growth Analysis Forecast 2028

Category: Technology & Media Report Format : PDF Pages: 160 Report Code: ZMR-1965 Published Date: Apr-2022 Status : Published

The global graph database market was worth USD 1827.5 million in 2021 and is expected to reach USD 5996.24 million by 2028, growing at 21.9 %

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Graph database is a NoSQL database that uses graph data model consisting of vertices, corresponding to an entity such as object, place and person. It can even be a relevant piece of edges and data that represent relationship between nodes. Graph database are helpful as they highlight relationships and links between data similarity. Neo4j is the global leading graph database with most widely adopted and more than 5 lakh downloads. It has the largest ecosystem such as code contributions and active forums etc. It is recognized as the most mature product and is in development from 2000. It is produced and marketed since 2003.

Data is a critical component of any business application and system in an organization from supply chain operations to finance, marketing and customer account management etc. Graph data management offers the solution of representing data consistently across overall organization. Thus enabling the data stewards to enrich, cleanse, synchronize, match and model data across multiple domains. It even scales to accomplish growth in business user demands, applications and data volume. These multiple applications of the system are projected to propel graph database market during the forecast period. 

Global Graph Database Market

Organizations need data in real time and right place to meet business requirements and to stay agile in today’s digital environment. Graph data management can reduce cost along with improving performance in business operations through supply chain, manufacturing, marketing, and product development optimization.

80 percent of all IT budgets in organizations will be allocated to cloud solutions and apps in next 15 months from April 2017. “Cloud First” has become a priority for organizations preferring deployment of applications that can be deployed in the cloud or purchased as a service. Numerous organizations are switching to “Cloud First” to be in pace with their supplier and partner networks. Ability to deliver excellent customer experience through “Cloud First” is acting as a strong catalyst in its adoption by the organizations. Positive outlook of the system in near future is anticipated to fuel graph database market till 2024.

Global graph database market is segmented on the basis of solution as software and services. Software segment is anticipated to be the most attractive segment over the forecast period as it has maximum growth rate along with the potential to capture highest market share till 2022. Launch of new software products by companies along with advancements in the existing versions will give a positive outlook to the segment. Various verticals having applications in graph database market are financial services, manufacturing, public sector, telecom, retail, travel and hospitality, and others. Financial services will witness a substantial growth during the forecast period owing to stabilizing economies of developing countries. Brazil and Argentina have registered significant gains in their economic outlook in 2017. 

Asia Pacific will witness the highest gains in global graph database market due to presence of emerging producers in IT industry in India and Indonesia. Established IT sector in Latin America is also an attractive regional market for the product application as it features its recovering economy after a consecutive decline of four years.
Prominent manufacturers in the market include Oracle Corporation, IBM, Neo Technology, Inc., Franz Inc, DataStax, Inc., Objectivity, Inc, Sparsity Technologies, ArangoDB GmbH, OrientDB LTD and Sirma AI.

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