Global Graph Database Market Forecast to 2028 - Growing Demand for Solutions to Process Low-Latency Queries

Dublin, Dec. 13, 2023 (GLOBE NEWSWIRE) -- The "Global Graph Database Market by Model Type (RDF, LPG, Hypergraph), Offering (Solutions, Services), Analysis Type (Community Analysis, Connectivity Analysis, Centrality Analysis, Path Analysis), Vertical, and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global graph database market size to grow from USD 2.9 billion in 2023 to USD 7.3 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 20.2% during the forecast period. Graph databases find their applications in linguistics, chemistry, and social networks. For instance, the integration of technology enables the user to demonstrate the relationship between people and their organizations. Companies operating in the market have come up with several use cases to describe specific graph database applications in multiple industry verticals. One such instance is fraud detection using the graph database technology developed by Ravelin Technology. Ravelin visualizes graph databases to identify suspicious nodes. The company has developed its own proprietary graph database solution to generate a full graph for any given data set in single-digit microseconds.

The cloud segment to have the largest CAGR during the forecast period

By deployment mode, the graph database market has been segmented into on-premises and cloud. The CAGR of the cloud deployment mode is estimated to be the largest during the forecast period. The cloud-based deployment helps businesses more efficiently process and report data findings, enhance collaboration, and enable decision-makers to get faster access to business intelligence leading to its higher adoption in the graph database market.

The native graph database segment to have the largest CAGR during the forecast period

Native graph database is a specialized database management system designed to efficiently store, manage, and query graph-structured data, where entities (nodes) are connected by relationships (edges). Unlike traditional relational databases, native graph databases are optimized for traversing complex relationships and performing graph-oriented queries. They enable the representation of real-world connections in a more intuitive and natural manner, making them particularly well-suited for use cases like social networks, recommendation systems, fraud detection, and knowledge graphs.

The healthcare, pharmaceuticals, and life sciences segment to have the largest CAGR during the forecast period

Graph databases offer significant advantages to the healthcare, pharmaceutical, and life sciences sectors due to their ability to model and query complex relationships within data. Graph databases can help researchers identify potential drug targets by analyzing the interactions between proteins, genes, and pathways. Relationships between proteins and diseases can be modeled, aiding in the validation of therapeutic targets.

Among regions, APAC to hold higher CAGR during the forecast period

APAC is expected to grow at a good pace during the forecast period. Opportunities for smaller graph database vendors to introduce graph database solutions for numerous sectors have also increased. All these factors are responsible for the expeditious growth of the graph database market in the region. Companies operating in APAC continue to focus on improving customer services to drive market competitiveness and revenue growth. China, Japan, India, and ANZ have displayed ample growth opportunities in the graph database market.

The report provides insights on the following :

• Analysis of key drivers (Need to incorporate real-time big data mining with result visualization, Growing demand for solutions to process low-latency queries, and Adoption of AI-based graph database tools and services), restraints (Shortfall of standardization and programming ease), opportunities (Lack of technical expertise), and challenges (Enterprise data unification and rapid proliferation of knowledge graphs, Semantic knowledgeable graphs for addressing complex scientific research, Emergence of open knowledge networks) influencing the growth of the graph database market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the graph database market.
• Market Development: Comprehensive information about lucrative markets - the report analyses the graph database market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in graph database market strategies; the report also helps stakeholders understand the pulse of the graph database market and provides them with information on key market drivers, restraints, challenges, and opportunities
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players such as Microsoft (US), SAP (Germany), and IBM (US) among others in the graph database market.

Case Study Analysis

• Kerberos Prevented Money-Laundering and Developed Compliance Management Application for Risk Management with Neo4J
• Allegrograph Created Self-Descriptive Repository of Graph to Deliver Critical Answers to Complex Questions and Power Smart Applications
• Kincards Used Neo4J to Revolutionize Business Cards
• Yahoo7 Represented Content Within Knowledge Graph with Help of Blazegraph
• Neo4J Enabled Pulitzer Prize-Winning Investigation into Global Tax Evasion to Visualize and Analyze Pertaining to Panama Papers Leaks
• Graph Technology Helped Us Army by Tracking and Analyzing Equipment Maintenance After Employing Neo4J
• Objective Ecm Underpinned Critical Health and Safety Processes in Offshore Petroleum Industry
• Redisgraph Offered Great Mix of Maturity, Feature Completeness, and Interoperability to Thinkdata
• Springermaterials Accelerated Research with Semantic Search
• Medeanalytics Delivered High-Performance Databases Capable of Handling Multiple Application Scenarios Using Redis Enterprise
• Jaguar Land Rover Accelerated Supply Chain Planning from Three Weeks to 45 Minutes
• Macy's Reduced Catalog Data Refresh Time by Six-Fold
• Metaphacts and Ontotext Enabled Global Pharma Company to Boost R&D Knowledge Discovery
• RFS Optimized Its Global Product and Inventory Management by Using Eccenca's Solution

Key Attributes:

Key Topics Covered:

Executive Summary

• Market Size and Growth Rate, 2018-2022 (USD Million, Y-O-Y%)
• Market Size and Growth Rate, 2023-2028 (USD Million, Y-O-Y%)
• Solutions Segment to Account for Larger Market Size in 2023
• Professional Services to be Larger Segment in 2023
• Labeled Property Graph Segment to Hold Larger Market Size in 2023
• On-Premises Deployment to Account for Larger Market in 2023
• Community Analysis Segment to Hold Larger Market Share in 2023
• Banking, Financial Services, and Insurance Vertical to Hold Largest Market Size in 2023
• North America to Hold Highest Market Share in 2023

Premium Insights

• Attractive Opportunities for Key Players in Market - Growing Need to Ensure Market Competitiveness to Boost Market Growth
• Overview of Recession in Global Market - Market to Witness Minor Decline in Y-O-Y Growth in 2023
• Market, by Vertical - Banking, Financial Services, and Insurance Vertical to be Largest Vertical Market During Forecast Period
• Market, by Region - North America to Hold Largest Market Share by 2028
• Market, by Model Type and Vertical - LPG and BFSI Segments to Hold Largest Market Shares by 2028

Market Dynamics

Drivers

• Need to Incorporate Real-Time Big Data Mining with Result Visualization
• Growing Demand for Solutions to Process Low-Latency Queries
• Adoption of AI-based Graph Database Tools and Services

Restraints

• Shortage of Standardization and Programming Ease

Opportunity

• Data Unification and Rapid Proliferation of Knowledge Graphs
• Provision of Semantic Knowledgeable Graphs to Address Complex-Scientific Research
• Emphasis on Emergence of Open Knowledge Networks

Challenges

• Lack of Technical Expertise

Industry Trends

• Growing Popularity of Enterprise Knowledge Graph
• Rapid Use of Virtualization for Big Data Analytics
• Massive Data Generation Across BFSI, Retail, and Media & Entertainment Industries

Companies Mentioned

• Arangodb
• Aws
• Bitnine
• Blazegraph
• Cambridge Semantics
• Datastax
• Dgraph Labs
• Eccenca GmbH
• Fluree
• Franz Inc
• Graph Story
• Graphbase
• Hpe
• Ibm
• Memgraph
• Microsoft
• Neo4J
• Objectivity
• Ontotext
• Openlink Software
• Oracle
• Redis Labs
• Sap
• Stardog
• Teradata
• Tibco
• Tigergraph

For more information about this report visit https://www.researchandmarkets.com/r/vgoa5l

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• Global Graph Database Market