Graph Database Market
Report ID: SQMIG45C2082
Graph Database Market Size, Share, Growth Analysis, By Component (solutions, Services), By Vertical (IT & Telecommunication, Healthcare), By Enterprise Size (Small & Medium Enterprises, Large Enterprises), By Region -Industry Forecast 2024-2031
Report ID:
SQMIG45C2082 |
Region:
Global |
Published Date: November, 2024
Pages:
189
|Tables:
0
|Figures:
0
Graph Database Market Insights
Global Graph Database Market size was valued at USD 3.13 billion in 2022 and is poised to grow from USD 3.82 billion in 2023 to USD 15.27 billion by 2031, growing at a CAGR of 21.9% during the forecast period (2024-2031).
Growing demand for connected data analysis and the rising use of data generated from interconnected systems are forecasted to drive the demand for graph databases in the future. Rising use of advanced technologies such as machine learning and artificial intelligence is also estimated to offer new business scope for graph database companies in the long run. Rising use of big data applications and IoT devices is also forecasted to bolster graph database market development over the coming years. Increasing use of business intelligence by multiple organizations and rising use of data-driven decision-making around the world are also expected to uplift the adoption of graph database in the future. High emphasis on cybersecurity is also expected to boost the demand for graph database going forward. However, lack of standardization, steep learning curve for query languages, data security concerns, and challenges in integration with legacy systems are slated to be key constraints for graph database demand outlook across the study period.
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Graph Database Market Segmental Analysis
The global graph database market is segmented based on type, component, enterprise size, vertical, deployment, and region. In terms of type, the market is bifurcated into SQL and non-SQL. Based on deployment, the market is segmented into on-premises, cloud. Based on enterprise size, the market is segmented into small & medium enterprises, large enterprises. Based on Vertical, the market is segmented into BFSI, retail and e-commerce, IT and telecom, healthcare and life science, government and public sector, media & entertainment, manufacturing, transportation & logistics, others. Based on component, the market is segmented into solutions and services. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Component
Solutions are projected to account for a major chunk of the global graph database market share going forward. Increasing need for advanced data modeling and the growing adoption of advanced data technologies around the world are also expected to help this segment maintain its dominant stance in the future. Development of custom graph database solutions for different industries is also a trend that will help this segment maintain its high revenue generation potential. Increasing use of big data, machine learning, and artificial intelligence will also offer new opportunities for graph database companies going forward.
Meanwhile, the demand for graph database services is projected to increase at a rapid pace over the coming years. Increasing complexity of database management, implementation, and maintenance is forecasted to help this segment offer new opportunities for graph database companies going forward. The high complexity of graph databases is also projected to bolster the demand for training services to address the issue of a shortage of a skilled workforce. The growing number of small and medium enterprises outsourcing their graph database needs is also expected to help create new business scope for companies targeting the services segment in the future.
Analysis by Vertical
IT and telecom industry vertical is forecasted to account for a high graph database market share over the coming years. Growing use of advanced data technologies and rising use of data-driven decision-making in IT and telecom companies around the world aids the dominance of this segment in the future. Growing use of artificial intelligence will be a key factor in promoting the adoption of graph database in the IT and telecom industry vertical going forward. The rising need for better database management and emphasis on improving operational efficiency in these organizations will also boost the adoption of graph databases.
Meanwhile, the demand for graph databases in the healthcare industry vertically is projected to increase at a rapid pace in the future. Growing use of connected devices in healthcare and increasing adoption of telehealth and telemedicine practices are slated to provide opportunities for graph database companies going forward. Disease mapping & surveillance, tracking disease outbreaks, and monitoring infectious disease spread are some key healthcare applications that graph database companies can target in this segment to maximize their business scope in the long run. Rising focus on improving interoperability in healthcare will also create new opportunities for graph database companies through 2031 and beyond.
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Graph Database Market Regional Insights
North America is estimated to account for a substantial share of the global graph database market. The presence of a strong technological infrastructure and growing use of advanced data technologies are helping this region hold sway over others. Moreover, the presence of key graph database companies in this region is also expected to aid the high market share of North America. Canada and the United States are estimated to be top markets in this region over the coming years. A rising number of organizations opting for data-driven decision-making will also create new business scope for graph database providers in this region through 2031.
Growing digitization in Asia Pacific is expected to make it the fastest-growing market for graph database companies in the world. Growing use of data-driven decision-making, rising use of advanced technologies, and rapid digital transformation are some key factors that are slated to generate new business scope for graph database companies operating in the Asia Pacific region going forward. Japan, China, and India are slated to be the leading markets for graph database companies in this region. Growing use of cloud computing and artificial intelligence will continue to uplift the demand for graph database across the study period and beyond.
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Graph Database Market Dynamics
Drivers
- Growing Need for Connected Data Analysis
Increasing use of complex data from multiple interconnected systems by organizations and the need for better data analysis for the same are projected to drive graph database market growth in the future. Graph databases excel in visualizing and querying relationships between data points, providing valuable insights in real-time making them vital in connected data analysis applications.
- Adoption of Data-driven Decision-Making
Growing emphasis of organizations on opting for data-driven decision-making to enhance their business potential is also expected to promote the demand for graph database going forward. Graph databases enable advanced data querying and analysis based on relationships rather than tables, making them ideal for business intelligence applications and aiding in data-driven decision-making.
Restraints
- Steep Learning Curve for Query Languages
Querying graph databases often involves using specialized languages, such as Cypher for Neo4j. These languages are quite complex and have a steep learning curve, making it necessary for database administrators to opt for additional training. This steep learning curve creates a shortage of skilled professionals and slows down the adoption of graph database.
- Lack of Standardization
Graph databases don’t have a standardized structure for queries and languages, this results in increased complexity and issues of compatibility between multiple systems and solutions. The lack of standardization can complicate database migration and integration, making it difficult for organizations to switch providers and thereby slow down graph database market outlook as well.
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Graph Database Market Competitive Landscape
Graph database providers should focus on developing a standardized structure for their offerings to maximize compatibility and adoption in the future. Launching new training programs and solutions to resolve the issue of shortage of skilled workforce will also be a major graph database market trend for companies. BFSI, IT & telecom, and retail industry verticals are projected to present lucrative opportunities for graph database providers in the long run.
Top Player’s Company Profiles
- DataStax
- Franz Inc.
- Neo4j, Inc.
- Oracle Corporation
- OrientDB
- MongoDB
- Objectivity Inc.,
- Stardog Union Inc.
- Teradata Corporation
- Microsoft Corporation
Recent Developments
- In September 2024, Neo4j, a leading name in the global graph database business unveiled its new cloud-based graph database called Neo4j AuraDB. The new offering features a Gen AI console and an interactive dashboard builder to improve its real-time read capabilities.
- In August 2024, Google Cloud announced the launch of a new graph database called Spanner Graph. The new database will allow users to scale their operations across multiple edge environments with graph, relational, search, and AI integration capabilities.
- In October 2022, Amazon, a leading tech giant from the United States announced the launch of a new managed graph database called Amazon Neptune Serverless. The solution is capable of automatically scaling as per workload requirements of the organization or users.
Graph Database Key Market Trends
- Need for Real-time Analytics: Graph databases with their ability to handle real-time streaming data, are being used to process and analyze live data as they flow through networks. This is also expected to expand the application scope for graph database companies in the future. Use of graph database for social media analysis, recommendation engines, and IoT applications will boost market development in the long run.
- Development of Cloud-based Graph Databases: Graph database companies should focus on providing cloud-based solutions to maximize their business scope in the future. Cloud-based graph databases provide scalability, flexibility, and cost-effectiveness, driving a shift from traditional on-site databases to cloud-hosted options that offer more accessible, on-demand functionality. These factors make this a key graph database market trend for companies going forward.
Graph Database Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing demand for connected data analysis and increasing use of data-driven decision-making are forecasted to bolster graph database market development in the future. However, lack of standardization and steep learning curve for query languages are estimated to impede graph database demand outlook over the coming years. The presence of a strong technological infrastructure is a key graph database market trend that allows North America to dominate the global graph database demand. Development of cloud-based graph database solutions is forecasted to create new business scope for graph database companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.13 billion |
| Market size value in 2031 | USD 15.27 billion |
| Growth Rate | 21.9% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Graph Database Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Graph Database Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Graph Database Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Graph Database Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Graph Database Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Graph Database Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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