Global graph database market expected to reach approximately USD 445 million in 2024, at a CAGR of slightly above 41.0% between 2018 and 2024. A graph database is a sort of NoSQL database that utilizes graph hypothesis to store, guide and query relationships. A graph database is basically gathering of nodes and edges.
The report covers forecast and analysis for the graph database market on a global and regional level. The study provides historic data of 2015-2017 along with a forecast from 2018 to 2024 based on revenue (USD Million). The study includes drivers and restraints for the graph database market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the graph database market on a global level.
This report offers a comprehensive analysis of the global graph database market along with, market trends, drivers, and restraints of the graph database market. This report includes a detailed competitive scenario and the product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary and primary research team of industry experts.
The study provides a decisive view on the graph database market by segmenting the market based on the solution, vertical and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2024. Based on a solution, the segmentation of the graph database market is Software and Services. Based on vertical; the segmentation of graph database market is Financial Services, Manufacturing, Public Sector, Telecom, Retail, Travel and Hospitality, and Others. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has been further segmented into countries such as the U.S., Canada, Mexico, UK, France, Germany, Netherlands, Spain, Italy, Sweden, Denmark, Finland, Norway, China, India, Japan, Korea, Brazil, Argentina, Saudi Arabia, UAE, Egypt, Qatar, Oman, Kuwait, Lebanon, Bahrain, and Jordan.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global graph database market such as Oracle, International Business Machines Corporation, Neo Technology, Inc., OrientDB, Franz Inc., DataStax, Sirma AI, ArangoDB GmbH, Sparsity Technologies, and Objectivity Inc.
This report segments the global graph database market as follows:
Global Graph Database Market: Solution Segment Analysis
Global Graph Database Market: Vertical Segment Analysis
Global Graph Database Market: Regional Segment Analysis
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.
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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