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The Global Graph Database Market is forecast to reach USD 7.39 Billion by 2027. The growing importance of understanding & managing the big data and fostering enterprise-wide data to turn it into a meaningful insight so that actionable steps can be taken on time to sustain a competitive landscape. Object oriented visualization, real-time big data update with simultaneous supporting queries, powerful recursive network of data, advanced problem solving capabilities, and exhibiting constant performance in real-time of the data size growth are some of the key factors that have been increased the usability of the graph databases amongst the end-use verticals.The COVID-19 Impact:
The COVID-19 global pandemic has created an endless requirement of digital transformation, online deployment of many use cases, remote working, and many other grounds for an enormous growth in the data. A huge uplift is projected for digital banking and online retailing, where more and more new entrants will be observed in these verticals to cater to a huge customer base and earn a greater profitability. Companies to invest in their business research specifically to increase the understanding of the data and find relationships amongst the complex data would substantially benefit their business development.
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Leading Graph Database manufacturers/companies operating at both regional and global levels:
IBM, TIBCO Software Inc., Oracle Corporation, Amazon Web Services, Microsoft Corporation, Neo4j, OrientDB, OpenLink Software, DataStax, Inc., and TigerGraph, among others.
For the purpose of this study, Reports and Data have segmented the Graph Database market on the basis of application, deployment mode, type, end-use verticals, and region:
Application Outlook (Revenue, USD Million; 2019-2027)
• Consumer Analytics
• Deep Learning
• Regulatory Compliance
• Recommendation Engines
• Identity & Access Management
• Fraud Detection
• Supply Chain Management
• Others
Deployment Mode Outlook (Revenue, USD Million; 2019-2027)
• Cloud
• On-premises
Type Outlook (Revenue, USD Million; 2019-2027)
• Resource Description Framework
• Property Graph
Organization Size Outlook (Revenue, USD Million; 2019-2027)
• Large Enterprises
• SMEs
End-Use Verticals Outlook (Revenue, USD Million; 2019-2027)
• BFSI
• Retail & E-Commerce
• IT & Telecommunication
• Transportation & Logistics
• Others
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Further key findings from the report suggest
• In November 2019, Neo4j, Inc., launched Aura, a fully managed cloud database that will run on Google cloud platform. The new development with Google cloud and developer-first approach by the company make Aura a highly demanded position in the market.
• In June 2019, data.world, Inc., a US based company Graph Database & data analysis company announced its acquisition of Capsenta, Inc., a data virtualization company in order to enable businesses to securely able to access, view, relate and work with on-premises databases in the cloud.
• Many data experts have estimated that nearly 70 percent of the data generated from the customers’ end remains unknown and unserviceable. Analytical insights would have been quite faster if only the relations and nodes of the data could be studied in real-time. That is where the graph database helps many business verticals providing with a super simplified analytical relationship to the vast big data and help derive faster and accurate insights.
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Europe
• Asia Pacific
• MEA
• Latin America
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To summarize, the global Graph Database market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry. The market factors impacting the global sector also include provincial trade policies, international trade disputes, entry barriers, and other regulatory restrictions.
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