Overview and Scope
A graph database is a customized platform for building and managing graphs. These database systems connect specific data points (nodes) and generate relationships (edges) in the form of graphs, which can then be queried by the user. It is used to give an understanding of the facts that are more realistic.
Sizing and Forecast
The graph database market size has grown exponentially in recent years. It will grow from $2.62 billion in 2023 to $3.3 billion in 2024 at a compound annual growth rate (CAGR) of 25.7%. The growth in the historic period can be attributed to increased complexity of data relationships, social media and network analysis, need for real-time data processing, advancements in data analytics, government and intelligence sector adoption, healthcare data management..
The graph database market size is expected to see exponential growth in the next few years. It will grow to $7.73 billion in 2028 at a compound annual growth rate (CAGR) of 23.7%. The growth in the forecast period can be attributed to digital transformation initiatives, supply chain and logistics optimization, graph-based search engines, data privacy and compliance, increasing automotive industry applications.. Major trends in the forecast period include advancements in graph query languages, integration with machine learning and ai, use cases in fraud detection and cybersecurity, cloud-based graph database services, graph database adoption in life sciences..
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Segmentation & Regional Insights
The graph database market covered in this report is segmented –
1) By Type: RDF, Labeled Propert Graph
2) By Component: Software, Services
3) By Deployment Mode: Cloud, On-Premises
4) By Application Type: Consumer Analytics, Deep Learning, Regulatory Compliance, Recommendation Engines, Identity and Access Management, Fraud Detection, Supply Chain Management, Other Applications
5) By End-Use: BFSI, Retail and E-Commerce, IT and Telecommunication, Transportation and Logistics, Other End-Users
North America was the largest region in the graph database market in 2023. The regions covered in the graph database market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in demand for graph analytics in machine learning and artificial intelligence (AI) is expected to propel the growth of the graph database market going forward. Graph analytics is a modern type of data analysis that assists businesses in understanding complicated interactions between linked entity data in a network or graph. Graph databases will provide graph models to represent relationships. They enable users to employ these models with pattern recognition, classification, statistical analysis, and machine learning, enabling more effective analysis at scale against vast amounts of data. For instance, in January 2022, according to the statistics given by TigerGraph Inc., a US-based scalable graph database company, the potential of graph machine learning to transform businesses Machine learning (ML) and artificial intelligence (AI) are being used by many organizations to provide them with competitive edge businesses and the expenditure is $57.6 billion on AI and ML by 2021 and realizes a $2.9 trillion gain in value. Therefore, the increasing demand for graph analytics in machine learning and artificial intelligence is driving the growth of the graph database market.
Key Industry Players
Major companies operating in the graph database market report are Oracle Corporation, International Business Machines Corporation (IBM), Amazon Web Services Inc., DataStax Inc., Stardog Union Inc., Hewlett Packard Enterprise Company (HPE), Microsoft Corporation, SAP SE, Teradata Corporation, Openlink Software Inc., MarkLogic Corporation, Neo4j Inc., TigerGraph Inc., Objectivity Inc., Franz Inc., ArangoDB GmbH, Blazegraph Corporation, Cambridge Semantics Inc., OrientDB Ltd., MongoDB Inc., Bitnine Co. Ltd., Ontotext AD, Grakn Labs Pte Ltd, Dgraph Labs Inc., JanusGraph, Expero Inc., Terark Inc., Redis Labs Ltd.
The graph database market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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