Vancouver, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The global graph analytics market is set to witness substantial growth, reaching a staggering USD USD 20.57 Billion in 2032 and projecting a rapid revenue Compound Annual Growth Rate (CAGR) of 33.5% throughout the forecast period. Key drivers include the integration of Artificial Intelligence (AI), Internet of Things (IoT), and blockchain into graph analytics, meeting the growing demand for data-driven decision-making across various industries.
Graph analytics, a subset of analytical solutions encompassing big data analytics, advanced analytics, and AI, plays a pivotal role in deciphering relationships and patterns within data sets. This graphical format aids businesses in optimizing operations, unveiling hidden patterns, and making informed decisions. Notably, the market is witnessing a surge in demand for low-latency queries, enabling enhanced logistics services, journalism research, and more.
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However, challenges such as the high cost of implementation, data privacy concerns, a shortage of technical skills, and a lack of standardization pose potential constraints on market growth. Companies venturing into graph analytics must navigate legal and regulatory requirements, implement robust cybersecurity measures, and ensure data accuracy and quality while managing the associated costs and complexities.
In terms of deployment mode, the cloud segment dominated in 2022, securing the largest revenue share in the global graph analytics market. Cloud-based platforms provide easy access to powerful graph analytics tools, eliminating the need for hefty hardware or software investments. This accessibility extends to Small and Medium-sized Enterprises (SMEs), fostering collaboration and real-time project engagement irrespective of location. On-premises analytics platforms are expected to exhibit moderate growth, driven by the rising adoption of edge computing to enhance database capabilities.
Large enterprises are expected to command a significantly large revenue share in the graph analytics market, fueled by their capacity to implement advanced technology and optimize productivity. Graph analytics aids large enterprises in accessing exclusive team data, enhancing transparency, and ensuring compliance with complex data governance requirements. Meanwhile, SMEs are anticipated to register steady growth, particularly in developing regions, driven by increasing investments in cloud deployment and maintenance services.
In terms of industry, the Banking, Financial Services, and Insurance (BFSI) sector is poised to capture the largest revenue share during the forecast period. The surge in data volumes within BFSI, coupled with the rise of online banking and augmented analytics for compliance reporting, drives the adoption of graph analytics solutions. The retail and ecommerce segment is anticipated to witness the fastest growth, as retailers leverage advanced analytical tools to understand customer preferences, enhance customer experience, and boost sales.
North America emerged as the leader in the global graph analytics market in 2022, driven by a surge in demand, technology integration, and substantial investments in real-time analytics. The U.S. market, in particular, showcased the largest share, with companies leveraging graph databases across various industries. Europe is expected to exhibit the fastest growth rate, propelled by infrastructure development and initiatives like euBusinessGraph. The Asia Pacific market, with India at the forefront, is set to account for a substantial revenue share, driven by widespread adoption of graph database technology and cost-effective services.
As the global graph analytics market continues its upward trajectory, businesses across industries are poised to benefit from enhanced decision-making capabilities, streamlined operations, and improved customer experiences
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Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 1.14 Billion |
| CAGR (2023–2032) | 33.5% |
| Revenue Forecast To 2032 | USD 20.57 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Component, deployment mode, applications, enterprise size, and industry |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Russia, Rest of Europe, China, India, Japan, South Korea, ASEAN Countries, Oceania, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Microsoft Corporation, Dataiku, Expero, Cambridge Intelligence, Lunx Analytics, Cloud Software Group, DataStax, TigerGrapg, Neo4j, Inc., Oracle Corporation, Amazon Web Services, IBM corporation, Tom Sawyer Software, Teradata, Linkurious SAS, Carnegie Mellon Database Group, SAP, ArangoDB, Objectivity Ltd., and Kinevix |
| Customization Scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global graph analytics market is fragmented with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective graph analytics. Some major players included in the global graph analytics market report are:
- Microsoft Corporation
- Dataiku
- Expero
- Cambridge Intelligence
- Lunx Analytics
- Cloud Software Group
- DataStax
- TigerGrapg
- Neo4j, Inc.
- Oracle Corporation
- Amazon Web Services
- IBM corporation
- Tom Sawyer Software
- Teradata
- Linkurious SAS
- Carnegie Mellon Database Group
- SAP SE
- ArangoDB
- Objectivity Ltd
- Kinevix
Strategic Development
- In June 2023, OTORIO, the leading provider of Operational Technology (OT) cyber and digital risk management solutions, announced a significant advancement in OT security with the availability of its Attack Graph Analysis technology, integrated into the company's powerful Cyber Digital Twin (CDT) model.
- On November 2022, TigerGraph, the leading advanced analytics and Machine Learning (ML) platform for connected data, released the latest version of TigerGraph Cloud, the industry's first and only native parallel graph database-as-a-service, featuring two powerful new tools for visual graph analytics and machine learning. TigerGraph Insights, a user-friendly visual graph analytics tool for searching and exploring meaningful business insights, and ML Workbench, a powerful Python-based framework for accelerating the development of graph-enhanced machine learning applications, are now available to TigerGraph Cloud customers.
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For the purpose of this report, Emergen Research has segmented the global graph analytics market on the basis of component, deployment mode, solutions, enterprise size, and industry:
- Deployment mode Outlook (Revenue, USD Billion; 2019-2032)
- Cloud
- On-premises
- Component Outlook (Revenue, USD Billion; 2019-2032)
- Solutions
- Services
- Enterprise size Outlook (Revenue, USD Billion; 2019-2032)
- Small and Medium Enterprises (SMEs)
- Large Enterprises
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Customer Analytics
- Risk and Compliance Management
- Recommendation Engines
- Route Optimization
- Fraud detection
- Industry Outlook (Revenue, USD Billion; 2019-2032)
- Banking, Financial Services, and Insurance (BFSI)
- Information Technology and Telecom
- Transportation & Logistics
- Healthcare and Life sciences
- Manufacturing
- Retail and Ecommerce
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- ASEAN Countries
- Oceania
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- Israel
- Turkey
- South Africa
- Rest of Middle East & Africa
- North America
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