Excellent real-time big data mining with visualizations of results, growing demand for systems’ capability of processing low latency queries, and the adoption of Artificial Intelligence (AI)-based graph database tools and services is driving the growth of market. Moreover, need to identify complex patterns at maximum scale gaining traction, and rapid use of virtualization for big data analytics are expected to offer opportunities in this market.
Increase in adption of graph database software in the healthcare industry, rise in application areas, surge in requirement for enhanced response time & accuracy in finding out new data correlations, and rise in penetration of connected data to improve marketing performance drive the growth in the market. However, scarcity of technical experts and high initial expenditure restrain the market growth. On the other hand, upsurge in usage of virtualization in big data analytics and technological advancements in graph database would offer lucrative opportunities in the market.
The global graph database market garnered $651 million in 2018 and is expected to generate $3.73 billion by 2026, registering a CAGR of 24.5% from 2019 to 2026.
North America held the highest market share in terms of revenue in 2018, contributing for more than two-fifths of the total share, and is estimated to maintain its lead during the forecast period. This is due to high dependence on data and need to manage complex data sets. On the other hand, Asia-Pacific is expected to register the highest CAGR of 27.8% from 2019 to 2026, owing to rise in digitization, leveraging information-intensive technologies for gaining a competitive advantage, and utilization of emerging technologies such as IoT, mobility cloud, and others.
Leading market players analyzed in the research include DataStax, Neo4j, Inc., Franz Inc., OrientDB, Oracle Corporation, Objectivity Inc., MongoDB, Teradata Corporation, Stardog Union Inc., and Microsoft Corporation.
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Based on end users, the IT & telecom segment accounted for more than two-fifths of the total market share in 2018 and will maintain its lion’s share by 2026. This is attributed to need to achieve competitive advantage with the critical data sets that are graphs. However, the transportation & logistics segment is expected to register the highest CAGR of 34.5% from 2019 to 2026, owing to the rise in adoption of graph database technology for fast computation, localized door-to-door service of goods among sellers and buyers, and requirement to upscale their business to include the supply chain.
Based on component, the software segment held the dominant market share, with nearly three-fourths of the total revenue in 2018, and is estimated to continue its leadership position by 2026. This is due to rise in need for innovative software as the traditional database management software are not able to handle the enormous amount of data. However, the services segment is expected to register the highest CAGR of 26.4% from 2019 to 2026, owing to adoption of services to ensure effective functioning of software and platforms during the process.
Pandemic disrupted the entire world and affected many industries.
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Highlights of the Report
- Competitive landscape of the graph database market.
- Revenue generated by each segment of the graph database market by 2026.
- Factors expected to drive and create new opportunities in the graph database industry.
- Strategies to gain sustainable growth of the market.
- Region that would create lucrative business opportunities during the forecast period.
- Top impacting factors of the graph database market.
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings
2.1.1. Top impacting factors
2.1.2. Top investment pockets
2.2. CXO perspective
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