The growing needs of rapid usage of virtualization for big data analytics and to identify complex patterns are the opportunities for the graph analytics market.
The global graphs analytics market size is projected to reach nearly USD 5,221.52 million by 2028. In addition, it is projected to gather a CAGR of around 33.08% over the forecast years 2018-2028. Graph analytics is among the analytical solution sub - categories which comprises Big Data Analytics, Advanced Analytics and Artificial Intelligence (AI). It is an analytical method for determining the intensity and orientation of the relationships in a graphic format among data nodes, vertical, ties, and edges. The analytical solution provides the platform to define the structural characteristics and real-time graph as a whole relation between the two objects. There are four different types of graphical analysis, namely analyzing connectivity, path analysis, analyzing centrality and analyzing community analysis. This graphical analysis assists in edging-out disinformation and bots on credit card fraud, social media, pandemic healthcare, and detection of Vat fraud. In addition, the graph analytics is being used in national security activities, recommendation engines, and monitoring of social networks.
The demand for graph analytics is expected to see rapid growth in the COVID-19 pandemic as the introduction of a graphical database makes it easier for governments to monitor the virus spread. We-Yun, a China-based big data firm, has recently partnered with Neo4 to develop an application that uses the neo4J platform to monitor people affected by the virus.
The future and existing graphs analytics market progress are outlined to know the market attractiveness. Key influencing factors focus on the graphs analytics of market opportunities over the forecast years. Factors such as growing demand to analyze low-latency queries are driving the market growth. Also, ability to uncover relationships between data in real-time is boosting the global graphs analytics market growth. However, the lack of technical skills regarding graph analytics is expected to be a challenge for the growth of this market. Furthermore, the growing need to identify complex patterns from the data in motion is anticipated to be an opportunity for the graphs analytics market.
The report also outlines the various characteristics of the global graphs analytics industry by assessing the market from value chain analysis. Moreover, the graphs analytics market report comprises various qualitative parts of the graphs analytics industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The graphs analytics market has solid competition amongst the already well-known and new market players. Also, the graphs analytics industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
Based on the deployment mode segment, the market is bifurcated into on-premise and cloud. In the year 2019, the cloud segment gathered the major growth and it is likely to maintain its position during the forecast years. In the graph analytics industry, number of vendors provides cloud-based maintenance solutions to make complete profits and efficiently optimize the process of maintaining equipment. It is anticipated that the adoption of cloud-based graph analytics solutions will witness a positive amount of growth, due to benefits including easy data generation maintenance, cost-effectiveness, scalability, and efficient management of these solutions.
The North American region dominated the overall market in 2019 and it is projected to keep its position during the forecast years 2020-2028. However, the Asia-Pacific region is anticipated to gather the highest growth over the forecast years. The market growth in this region is mostly ascribed to the growing need for improved productivity and increased demand in this region. On the worldwide graph analytics market, North America is estimated to hold the largest market share, while Asia Pacific (APAC) is expected to rise at the highest CAGR over the forecast period. APAC's high rate of growth can be attributed to companies in the region taking opportunities to go beyond maintaining enforcement and implementing technology to curb illicit capital flows that endanger clients and their communities. When applied to a transactional data history, Graph analytics and Machine Learning (ML) will help companies uncover transaction patterns.
The major players of the global graphs analytics market are Graphistry (US), Teradata (US), Microsoft Corporation (US), AWS (US), IBM Corporation (US), Dataiku (US), Lynx Analytics (Singapore), Neo4j (US), Oracle Corporation (US), TIBCO Software (US), Cray, Inc. (US), Linkurious (France), DataStax (US), Objectivity (UK), and TigerGraph (US). The graphs analytics market comprises well established local as well as global players. In addition, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Segment Overview of Global Graphs Analytics Market
Deployment Mode Overview, 2018-2028 (USD Million)
Organization Size Overview, 2018-2028 (USD Million)
- Small And Medium-Sized Enterprises
- Large Enterprises
Application Overview, 2018-2028 (USD Million)
- Transport and Logistics
- Media and Entertainment
- IT and Telecom
Regional Overview, 2018-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America