Graph Database Market Size, Share, Growth Report 2032

Industry Prospective:

The global graph database market was worth around USD 1827.5 million in 2021 and is estimated to grow to about USD 5996.24 million by 2028, with a compound annual growth rate (CAGR) of approximately 21.9 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

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Graph Database Market: Overview

A graph database is a database that makes use of graph structures for semantic queries with nodes, edges, and properties to represent and accumulate data. The graph relates the data items in the store to a collection of nodes and edges; the edges represent the relationships between the nodes. A graph database is built to handle highly connected data, and the increase in the volume and connectedness of today's data presents a tremendous opportunity for sustained market growth. Global Graph Database Market report provides an all-inclusive evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a considerable role in the market.

Large enterprises are set to boost the adoption of graph database tools as the application of these tools and services simplifies risk and compliance management tasks. Growing reliance on connected data for fraud detection across various industries including e-commerce, banking, financial services, and insurance, contributes to the growth of the global graph database market.

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COVID-19 Impact:

COVID–19 had a substantially negative impact on businesses due to lockdowns imposed by governments to curb the spread of the virus. However, the COVID–19 outbreak has provided several opportunities for companies to digitalize and expand operations across borders as the adoption and implementation of technologies such as big data, Artificial Intelligence (AI), predictive analysis, Internet of Things (IoT), and blockchain technology increased during the initial lockdowns which impact global database market quite positively. In 2020, the retail and manufacturing industries faced significant challenges. However, with the introduction of vaccinations and significant control of the virus, companies operating in such industries are projected to attract substantial investments over the forecast period because graph database solutions have gained more popularity across various business operations. Also, many government organizations and private sectors adopted the graph database for managing uncertainty in real-time.

Graph Database Market: Growth Drivers

Real-time big data mining with visualization of results to drive the Graph Database Market

Graph database eases the distribution of any data across data centers, making business applications ready to scale, and able to create real-time insights and experiences. Moreover, it helps display insights through data visualizations and provides a real-time forecast for streaming data. The growing consensus toward graph database is the most direct path to extracting business decisions from the value found in the data.

Graph Database Market: Restraints

Shortage of skilled professionals and requirement of technical expertise

Insights from graph database data require a high level of technical expertise and the shortage of skilled professionals are major factor hampering the revenue growth of the market. Additionally, a lack of standardization is expected to restrain market revenue growth over the forecast period.

Report Scope:

Graph Database Market: Segmentation

The global graph database market is segregated based on Component, Deployment Mode, Organization Size, Type, Application, and Vertical.

By Component, the global market is distinguished into Software and Services. The software segment has been analyzed to attribute to the majority of share in the Graph Database Market during the forecast period 2021-2028 owing to the rising demand for software, as a massive volume of data is continuously generated due to which managing data using a traditional relational database structure is difficult for enterprises. The creation of data amounting to big data has forced vendors to design graph database software and help Information Technology teams simplify and manage their decision-making process.

By Deployment Mode, the global market is distinguished into Cloud and On-premises. The on-Premises segment is expected to account for larger market growth and revenue growth. On-premises can provide organizations with an available network even if there is no internet connection. These are the factors that the on-premises segment is forecasted to grow more than the cloud.

Recent Developments

• In March 2021, the Technical University of Denmark (DTU) broadcasted a strategic partnership with TigerGraph which is a leading provider of graph database and graph analytics software. The purpose of this partnership is to improve the treatment of acute lymphoblastic leukemia with TigerGraph’s superior graph analytics with machine learning and artificial intelligence (AI) techniques.
• In April 2019, Neo4j Inc. announced a strategic partnership with Google Cloud offered by Google LLC. The intention of this partnership is to offer the Neo4j a seamless and enhanced experience after the integration of the Google Cloud Platform console, support services, and billing.
• In October 2020, Microsoft introduced a new AI system that can caption and describe images. The new AI system helps caption and describe images even better than humans.

Regional Landscape

North America is forecasted to have the largest market share in the graph database market. Factors influencing the growth of the graph database market in North America include the increasing technological advancements and the growing number of graph database players across this region. The Asia Pacific region is expected to register a steady growth during the forecast period, as many Asian countries such as India, China, Japan, and South Korea are leveraging information-intensive technologies to gain a competitive edge over other players. The Europe graph database market is expected to register a significantly steady CAGR over the forecast period. Increasing execution of Industry 4.0 across industries in countries in the region will drive the adoption of the graph database, which in turn is expected to fuel Europe market revenue growth during the forecast period.

Competitive Landscape

Some of the main competitors dominating the global Graph Database Market include - Oracle Corporation (US), IBM Corporation (US), Amazon Web Services, Inc. (US), DataStax (US), Ontotext (Bulgaria), Stardog Union (US), Hewlett Packard Enterprise (US), ArangoDB (US), Blazegraph (US), Microsoft Corporation (US), SAP SE (Germany), Teradata Corporation (US), Openlink Software (US), MarkLogic Corporation (US), TIBCO Software, Inc. (US), Neo4j, Inc. (US), GraphBase (Australia), Cambridge Semantics (US), TigerGraph, Inc. (US), Objectivity Inc. (US), Bitnine Co, Ltd. (US), Franz Inc. (US), Redis Labs (US), Graph Story (US), Dgraph Labs (US), Eccenca (Germany), and Fluree (US).

Global Graph Database Market is segmented as follows:

By Component

• Software
• Services

By Deployment Mode

• Cloud
• On-premises Large

By Organization Size

• Large enterprises
• Small and medium-sized enterprises (SMEs)

By Type

• RDF
• Labeled Propert Graph

By Application

• Customer Analytics
• Risk, Compliance and Reporting Management
• Recommendation Engines
• Fraud Detection and Prevention
• Supply Chain Management
• Operations Management and Asset Management
• Infrastructure Management, IoT, Industry 4.0
• Knowledge Management
• Content Management, Data Extraction and Search
• Metadata and Master Data Management
• Scientific Data Management
• Others (Chatbot, digital twin, scientific, Product and Technical Information Management, and Human Capital Management)

By Vertical

• BFSI
• Retail and eCommerce
• Telecom and IT
• Healthcare, Pharmaceuticals, and Life Sciences
• Government and Public Sector
• Manufacturing and Automotive
• Media and Entertainment
• Energy and Utilities
• Travel and Hospitality
• Transportation and Logistics
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa