Global graph database market anticipated to reach around USD 4500 Million by 2026, at a CAGR of 28.6% from 2020 to 2026.
NEW YORK, UNITED STATES, August 13, 2020 /EINPresswire.com/ — According to Facts & Factors, the global graph database market in 2019 is approximately USD 810 Million and is anticipated to reach around USD 4500 Million by 2026. The anticipated CAGR for the graph database market is around 28.6% from 2020 to 2026.
In the computing field, a graph database is also called a graph-oriented database, is a database specifically designed to treat the relationships between a set of data as equally important as the data itself. Graph databases are built to store and navigate relationships. In other words, a graph database is a database that uses graph structures for solving queries with edges, nodes, and properties to store and represent the data.
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In recent years, the popularity of graph databases has witnessed a spike from across verticals. As per a report published in 2017, around 57% of enterprise users across all industry verticals cited speed and enhanced execution as their top technology advantage of utilizing a graph database. The way in which graph databases sort out and store data keeps up the connectedness of various entities enabling the computers to translate things related to them in a context rather than simply coordinate words. Thus machines can manage, store, and recover data based on the meaning and logical relations.The global graph database market is projected to witness a notable growth rate, growing with a CAGR of around 28% during the forecast period.
The global graph database market is segmented on the basis of product type and application. Resource description framework and property graph are the product type segmentation of the graph database market. Among the product segment, the resource description framework is expected to dominate the global graph database market valued at USD 400 Million in 2019 with a CAGR of 28% from 2019 to 2026. Further, on the basis of application, the market is categorized into BFSI, IT &telecom, healthcare & life sciences, transportation & logistics, retail & eCommerce, government & public, and others. In the application segment, the baking and financial services (BFSI) segment are projected to dominate the global graph database market with a revenue share of around 32% by 2026.
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The global graph database market is categorized into Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa. North America region is dominating the global graph database market and is continuing the trend during the analysis period. It accounted for around 41% revenue share of the total regional pie. The Asia Pacific is prognosticated to register the highest growth rate during the estimated period. Major countries included in this research report are the U.S., Canada, Mexico, UK, Germany, France, China, Japan, India, South Korea, Brazil, GCC Countries, South Africa, and Argentina among others.
Some of the major players analyzed and profiled in the market study are Oracle, International Business Machines Corporation, Neo Technology, Inc., OrientDB, Franz Inc., DataStax, Sirma AI, ArangoDB GmbH, Sparsity Technologies, and Objectivity Inc. among others.
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This report segments the graph database market as follows:
Global Graph DatabaseMarket: By Product Type Segment Analysis
Resource Description Framework
Global Graph DatabaseMarket: By Application Segment Analysis
IT & Telecom
Healthcare & Life Sciences
Transportation & Logistics
Retail & Ecommerce
Government & Public
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