Global Graph Database Market to reach USD 6.31 Billion by 2027.Global Graph Database Market is valued approximately at USD 1.55 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 22.2% over the forecast period 2021-2027. The global Graph Database market is being driven by rising requirement of incorporating the real-time big data mining along with visualization of result, also the rising demand for the solutions which can process with low-latency queries and adoption of AI-based graph database tools and services. Furthermore, enterprise data unification and rapid proliferation of knowledge graphs and semantic knowledge graphs for addressing complex scientific research will provide new opportunities for the global Graph Database industry. For instance, as per Statista, The big data and business analytics (BDA) across the world was valued at around 168.8 billion U.S. dollars in 2018 and reached USD 189.1 billion in year 2019 and it is anticipated to grow to USD 215.7 billion by year 2021. In 2021, more than half of BDA spending will drive towards services in which IT services is expected to make up about USD 85 billion and business services will account for the remainder. As a result, increased use of big data analytics in services will serve as a catalyst for the Graph Database industry in the future. However, lack of standardization and programming ease may impede market growth over the forecast period of 2021-2027.
Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key region considered for the regional analysis of global graph database market. The growing number of graph database players across regions makes North America the leading region across the world in terms of market share. Whereas North America is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to rising technological advancement in the region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Resource description framework
Labelled property graph
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Graph Database Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers