21.9 % Global CAGR of Graph Database Market Size Worth $5996.24 Million | Increasing Demand for Flexible Online Schema Environments | Industry Trends & Forecast Report by Zion Market Research
NEW YORK, May 2, 2022 /PRNewswire/ -- As per Zion Market Research study, The global graph database market was worth around USD 1827.5 million in 2021 and is estimated to grow to about USD 5996.24845178325 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.
Key Industry Insights & Finding of the Graph Database Market Reports:
- As per the analysis shared by our research analyst, the Graph Database Market is expected to grow annually at a CAGR of around 21.9% (2022-2028).
- Through the primary research, it was established that the Graph Database Market was valued approximately USD 1827.5 Million in 2021 and is projected to reach to roughly USD 5996.24 Million by 2028.
- North America is forecasted to have the largest market share in the graph database market.
- The Europe graph database market is expected to register a significantly steady CAGR over the forecast period.
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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Industry Dynamics:
Graph Database Market: Growth Dynamics
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.
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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.
Global 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.
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List of Key Players of Graph Database Market:
- 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)
- Fluree (US).
Key questions answered in this report:
- What are the growth rate forecast and market size for Graph Database Market?
- What are the key driving factors propelling the Graph Database Market forward?
- What are the most important companies in the Graph Database Market Industry?
- What segments does the Graph Database Market cover?
- How can I receive a free copy of the Graph Database Market sample report and company profiles?
Report Scope:
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Regional Dominance:
- The Europe graph database market is expected to register a significantly steady CAGR over the forecast period.
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.
Global Graph Database Market is segmented as follows:
Graph Database Market: By Component Outlook (2022-2028)
- Software
- Services
Graph Database Market: By Deployment Mode Outlook (2022-2028)
- Cloud
- On-premises Large
Graph Database Market: By Organization Size Outlook (2022-2028)
- Large enterprises
- Small and medium-sized enterprises (SMEs)
Graph Database Market: By Type Outlook (2022-2028)
- RDF
- Labeled Propert Graph
Graph Database Market: By Application Outlook (2022-2028)
- 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)
Graph Database Market: By Vertical Outlook (2022-2028)
- 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
Graph Database Market: By Region Outlook (2022-2028)
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
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