The global graph database market is expected to reach US$ 4,603.4 Mn by 2027, expanding at a CAGR of 24.3% during the forecast from 2019 to 2027.
Market Insights
Surge in demand of connected devices across the world has considerably increased the volume of data generated per year. In addition, increase in penetration of social media and internet has also contributed significantly in the volume of data generation per year. This in turn has turned the data analytics into more complex and time consuming task. In the wake of same, business users are demanding for more real-time, fast, and integrated data solution to extract various insights. Graph database uses graph theory to solve the complex and connected problems.
The global graph database market is bifurcated on the basis of component, type, deployment, organization size, application, and industry verticals. Large enterprises dominated the global graph database market in the year 2018, as larger enterprises generate large volume of data every year, they require periodic analysis of the data generated. For instance, Amazon, Netflix, and LinkedIn are some of the large consumer-facing platforms that effectively use graph database platform for storing consumer behavior and relationships. However, Small & Medium Enterprises (SMEs) is predicted to grow with highest CAGR over the forecast period. SMEs is expected to exploit graph technology for getting 360-degree view of the business. Graph database is majorly used for fraud detection, master data management, and for analytical study of data on different platforms.
Asia Pacific is expected to witness highest CAGR during the forecast period. The significant growth of the region is mainly attributed to the rapid growth of connected devices and solutions in the region. As per ‘GSMA Intelligence’, Asia Pacific is anticipated to be the largest connected devices market by 2020 with more than 11 Billion connected device across the region. In addition, region also seeks enormous growth in the social media subscribers over the past few years that again accounts for one of the major reasons for the surge in the graph database solution.
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Tools Segment dominated the Global Graph Database Market in the year 2018
Tools segment held majority of revenue share in the year 2018 and is projected to continue its dominance during the forecast period. Significant deployment of graph database tools in large enterprises in the past few years is the major factor supporting its dominance in the global graph database market. In addition, increasing social media users and proliferation of e-commerce business has triggered the application of social graph and purchase graph to properly analyze and store the relationship between the data and users. Many social media platforms and e-commerce giants such as Facebook, Amazon, LinkedIn, Microsoft and Twitter have powered their business with graph database solutions.
Asia Pacific witnesses Highest Growth over the Forecast Period
North America dominated the global graph database market in the year 2018. Presence of prominent graph database vendors in the region such as Amazon Web Services, IBM, Microsoft, Neo Technology, Oracle, and Tiger Graph accounts for one of the prime factors behind the significant growth of North America. Moreover, introduction of General Data Protection Regulation (GDPR) in European region has surged the demand for graph database solutions. As per the regulation, users can now control the usage and visibility of their personal data on any media sites. This has generated complex data lineage problems that is unable to be solved with Relational Database (RDBMS) and require modern graph technology to address them. Thus, graph database is the best solution to address the connected data requirements of GDPR compliance.
Key Players & Competitive Landscape:
Some of the prominent players profiled in the global graph database market report include IBM Corp., Microsoft Corp., Oracle Corp., Amazon Web Services Inc., Neo Technology (Neo4j) Inc., Teradata Corp., Tiger Graph, OrientDB, Ontotext, TIBCO Software Inc., DataStax Inc., MarkLogic Corp., Cray Inc., Stardog, Memgraph, ArangoDB GmbH, and Bitnine Global Inc. among others.
Key questions answered in this report
- What was the global market size of graph database in 2017 & 2018?
- What is estimated forecast and market projections up to 2027?
- Which is largest regional market for graph database?
- Which component has the largest penetration in graph database market?
- Which is the most preferred deployment type in graph database?
- Which are the predominant trends shaping the global graph database market?
- Which is the most promising, attractive, and less-explored region in the global graph database market?
- Who are the leading vendors in the global graph database market?
- What are the premiere strategies adopted by the leading vendors in the global graph database market?
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