Increasing demand for systems competencies of processing low latency queries, precise real-time data mining through visualization of results, along with adoption of AI-based graph database services and tools drives the demand for graph database market
The global graph database market size is projected to reach at USD 2 billion by 2025. The growth in demand for higher response time as well as precision for discovering new correlations and multi-dimensional data management based on real-time is the key factor fueling the graph database industry growth. Moreover, exponentially growing business data volumes and its significance to produce meaningful customer insights, growing demand for master data management systems, are other factors that are likely to augment the market growth.
Graph database systems have been widely used for fraud detection across different industry verticals including BFSI, e-commerce, among others. On the other hand, these solutions are provide optimized marketing performance, enhance operational agility for customer service, and create new sources for customer value. Continuous implementation of cloud computing environment throughout the verticals coupled with growing IoT applications is projected to augment the graph database market over the forecast period.
Based on the vertical, the market is segmented into telecom & IT, BFSI, retail, government & utilities, media & entertainment, healthcare, manufacturing, and others. The market for BFSI sector is anticipated to possess the highest growth rate over the forecast period since the need for graph database find a wide applications in banking, finance & insurance companies for cash flow analysis, fraud detection, and transaction analysis. Moreover, the growing regulatory scrutiny coupled with enhanced customer satisfaction, as well as advantages such as risk management, and customized solutions are some of the factors responsible for the graph database demand.
The global graph database market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global graph database industry is a wide range to North America, APAC, South America, Europe, and the Middle East & Africa. North America is considered a mature market in the graph database applications, owing to an outsized presence of organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the graph database market in North America.
The major players of the global graph database market are IBM, Oracle, AWS, Microsoft, Neo4j, OrientDB, Franz, OpenLink Software, TIBCO, MarkLogic, DataStax, Ontotext, Stardog, TigerGraph, Cray, and more. The graph database market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Graph Database Market
Type Overview, 2018-2025 (USD Billion)
- RDF (Resource Description Framework)
- Property graph
Application Overview, 2018-2025 (USD Billion)
- Customer Analytics
- Risk & Compliance Management
- Recommendation Engines
- Fraud Detection
- Supply Chain Management
Vertical Overview, 2018-2025 (USD Billion)
- Telecom & IT
- Government & Utilities
- Media & Entertainment
Regional Overview, 2018-2025 (USD Billion)
- 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