New York, NY, June 19, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Graph Database Market by Solution (Software and Services), by Vertical (Financial Services, Manufacturing, Public Sector, Telecom, Retail, Travel and Hospitality, and Others) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024’’. According to the report, global graph database market was valued at around USD 499 million in 2017 and is expected to reach approximately USD 5,611 million in 2024, growing at a CAGR of slightly above 41.0% between 2018 and 2024.
A graph database is a sort of NoSQL database that utilizes graph hypothesis to store, guide, and query relationships. A graph database is basically gathering of nodes and edges. Every node represents a substance, (for example, a person or business) and each edge represents a connection or relationship between two nodes. Each node in a graph database is characterized by a unique identifier, an arrangement of active edges as well as incoming edges and a set of properties communicated as key/value sets. Each edge is characterized by a unique identifier, a beginning spot as well as ending-place node, and a set of properties.
Browse through 69 Tables & 23 Figures spread over 110 Pages and in-depth TOC on "Global Graph Database Market Size & Share 2017: Industry Trends, Growth Opportunities Analysis and Forecast, 2024”.
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Global consumer goods and manufacturing companies have to comply with local regulations along with meeting the market demands. This can range from safety standards to supply chain and labeling requirements. They need regular information on products and materials to comply with regulatory norms along with maintaining their operational efficiency. Capgemini and Informatics have collaborated to produce a master data management solution for consumer goods and manufacturing industries. The solution provides companies to view global distribution and manufacturing information consistently coupled with delivering tailored regional regulatory and consumer requirements. Rising adoption of the technology by multinationals will boost the revenue generation of global graph database market over the forecast period.
Master data management is even used in public sector to enhance decision -making through a single trusted data source about employees, providers, departments, programs, and citizens. Since the inception of the digital era, government bodies are storing and collecting data in systems made for specific programs or tasks. Sharing data across these systems provides business process improvement opportunities with the government.
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Hybrid cloud adoption has increased three times in 2016 as compared to last year from 19% to 57% in organizations. Cloud services consolidation coupled with rapid hybrid cloud sector growth is giving a positive outlook to the cloud platform in enterprises. Most of the organizations are setting up goals to produce “Cloud First” app that are replacing legacy apps that which are no longer suitable for their existing and future business models. Increasing rate of cloud platform adoption will boost the global graph database market over the forecast timeframe.
The global graph database market is segmented on the basis of the solution as software and services. Smart cities are offering advanced services exploiting and aggregating data from various sources. Cities collect statistical data such as service description, road graphs, and real-time data that includes events, city sensors, bus positions, traffic sensors, weather forecast, and emergency flows, etc.
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North America is anticipated to capture nearly half of the global graph database market share during the forecast period. Its major chunk is attributed to significant foothold of the U.S. in the global manufacturing sector. The U.S. produces nearly 18% of global manufactured goods that makes it the biggest manufacturing nation globally. Goods ranging from medium to high technology accounts for 56% of the U.S. manufactured products by value. Furthermore, manufacturing industry impacts 23% of the U.S. output, as per the Bureau of Economic Analysis. Thus, the industry is quite crucial to the U.S. economy; it had witnessed a growth of 21% in the period of 1980 to 2007. This proves that the sector is growing in terms of the value of goods being manufactured.
Europe will have a substantial share in the global graph database market due to its retailing and telecom sector. In 2014, European retail trade industry was valued at nearly USD 3.74 trillion. Most important and largest retail Europe market was Russia with a turnover of USD 519 billion, followed by France (USD 507 billion), Germany (USD 504 billion), and the United Kingdom (USD 483 billion). In 2014, most promising countries were Luxembourg, with a growth of 9.2% and Estonia at 7.1%. In 2016, Europe’s most valuable retail brand was Nestle, having a brand value of nearly USD 27.77 billion, followed by IKEA (USD 20.53 billion).
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Europe’s telecommunication services are contributing substantially to its developing information society. Public, enterprises, and individual organizations depend on reliable and convenient telecommunication services and networks. In recent years, a shift in various services is observed from voice to data services and wired to mobile networks. By 1998, Europe telecommunications industry was fully liberalized that lead to considerable price reductions, for the member states joining European Union from 2004.
The Asia Pacific will depict highest growth rate in global graph database market during the forecast period owing to its flourishing financial services. Its retail banking income has grown by nearly 8% in 2017 after a growth of 10% in 2015 and 7.5% in 2016. Retail financial services gross income is estimated to grow at a CAGR of 10% from 2016 to 2020. The gross income has grown at a slightly faster rate in 2017 as compared to previous year owing to improved outlooks in Hong Kong, Korea, Thailand, and Indonesia. Retail banking income of the region reached USD 500 billion in 2016.
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Economic growth in Latin America along with the Caribbean was nearly 0.9% in 2017 after a contraction of 2 years in the regional economy. Private consumption contributed majorly to the economic growth of the region while shrinking investments were responsible for declining growth from past four consecutive years. Brazil witnessed a stronger growth than expected. Brazil has registered a growth of 1% following a recession of 2 long years owing to its recovering industrial production and retail trade. Argentina’s recovery from recession offered it a growth of 2.7% primarily driven by its rising private consumption and rebound in investment.
The Middle East & Africa’s growth in the global graph database market is attributed to its booming travel & tourism industry. In 2016, the industry contributed directly for around USD 81.4 billion in the regional GDP corresponding to 3.3% of total GDP. It is expected to increase by 4.5% in 2017 and will register gains of 4.6% per annum from 2017 to 2027 reaching up to USD 133.1 billion in 2027. In 2016, the industry contributed 7.6% of total employment in the region that includes jobs provided directly as well as indirectly. This figure corresponds to nearly 5,730,500 jobs and is anticipated to increase by 2.7% in 2017. It is estimated to rise by 2.4% per annum to 7,433,000 jobs till 2027. In 2016, travel and tourism investment was USD 49.6 billion that is 7.2% of the total investment of the region; increasing by 6.4% per annum in next 10 years to USD 98.9 billion in 2027.
Prominent manufacturers in the market include Oracle Corporation, IBM, Neo Technology, Inc., Franz Inc., DataStax, Inc., Objectivity, Inc., Sparsity Technologies, ArangoDB GmbH, OrientDB Ltd., and Sirma AI.
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The report segments global graph database market as follows:
Graph Database Market: Solution Segment Analysis
- Software
- Services
Graph Database Market: Vertical Segment Analysis
- Financial services
- Manufacturing
- Public sector
- Telecom
- Retail
- Travel and hospitality
- Others
Graph Database Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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