DUBLIN–(BUSINESS WIRE)–The “Graph Database Market with COVID-19 Impact Analysis, By Type (RDF and LPG), Application (Fraud Detection and Prevention, and Recommendation Engine), Component (Software and Services), Deployment Mode, Vertical, and Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global graph database market size to grow from USD 1.9 billion in 2021 to USD 5.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 22.5% during the forecast period.
The cloud segment to have the largest CAGR during the forecast period
By deployment mode, the graph database market has been segmented into on-premises and cloud. The CAGR of the cloud deployment mode is estimated to be the largest during the forecast period. The cloud-based deployment helps businesses more efficiently process and report data findings, enhance collaboration, and enable decision-makers to get faster access to business intelligence leading to its higher adoption in the graph database market.
The SMEs segment to hold higher CAGR during the forecast period
The graph database market has been segmented by organization size into large enterprises and SMEs. The market for SMEs is expected to register a higher CAGR during the forecast period as cloud-based solutions and services help them improve business performance and enhance productivity. Whereas the large enterprises segment is expected to hold a larger market share in the graph database market during the forecast period due to the affordability and the acceptance of emerging technologies.
Among regions, APAC to hold higher CAGR during the forecast period
APAC is expected to grow at a good pace during the forecast period. Opportunities for smaller graph database vendors to introduce graph database solutions for numerous sectors have also increased. All these factors are responsible for the expeditious growth of the graph database market in the region. Companies operating in APAC continue to focus on improving customer services to drive market competitiveness and revenue growth. China, Japan, and AnZ have displayed ample growth opportunities in the graph database market.
Market Dynamics
Drivers
Need to Incorporate Real-Time Big Data Mining with Visualization of Result Growing Demand for Solutions That Can Process Low-Latency Queries Adoption of Ai-Based Graph Database Tools and Services to Drive the Market Restraint
Lack of Standardization and Programming Ease Challenges
Lack of Technical Expertise Opportunity
Enterprise Data Unification and Rapid Proliferation of Knowledge Graphs Semantic Knowledge Graphs for Addressing Complex Scientific Research Emergence of Open Knowledge Networks Companies Mentioned
Amazon Web Services Inc. (AWS) ArangoDB Bitnine Co Blazegraph Cambridge Semantics DataStax Dgraph Labs Eccenca Fluree Franz Inc. (Franz) Graph Story Graphbase Hewlett Packard Enterprise (HPE) IBM Corporation (IBM) Ltd. (Bitnine) MarkLogic Corporation (MarkLogic) Microsoft Corporation (Microsoft) Neo4j Inc. (Neo4j) Objectivity Inc. (Objectivity) Ontotext Openlink Software Oracle Corporation (Oracle) Redis Labs SAP SE (SAP) Stardog Union (Stardog) Teradata Corporation (Teradata) TIBCO Software Inc. (TIBCO) TigerGraph Inc. (TigerGraph) For more information about this report visit https://www.researchandmarkets.com/r/uz298