Increased adoption of graph database software in the healthcare industry, surge in penetration of connected data, and rise in requirement for enhanced response time & accuracy have boosted the growth of the global graph database market. However, the market across the Asia-Pacific region is expected to register the fastest CAGR of 27.8% during the forecast period.
portland, OR, Aug. 19, 2019 (GLOBE NEWSWIRE) -- According to the report, the global graph database market was pegged at $651 million in 2018 and projected to manifest $3.73 billion by 2026, growing at a 24.5% CAGR from 2019 to 2026.
Rise in adoption of graph database software in the healthcare industry, increase in requirement for enhanced response time & accuracy in finding out new data correlations, and surge in penetration of connected data to improve marketing performance have boosted the growth of the global graph database market. However, scarcity of technical experts and high initial expenditure hamper the market growth. On the contrary, increase in usage of virtualization in big data analytics and technological advancements in graph database are expected to create lucrative opportunities in the near future.
The global graph database market is divided on the basis of component, deployment model, type of database, analysis type, application, organization size, end user, and geography. Based on component, the market is divided into software and services. The software segment dominated the market in 2018, accounting for nearly three-fourths and is expected to continue its dominance by 2026. On the other hand, the services segment is projected to manifest the fastest CAGR of 26.4% during the forecast period.
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Based on deployment model, the market is segmented into on-premise and cloud. The on-premise deployment model segment held the largest share in 2018, contributing more than half of the market. However, the cloud segment is expected to portray the fastest CAGR of 26.6% during the forecast period.
On the basis of end user, the market is segmented into BFSI, retail & e-commerce, IT & telecom, healthcare & life science, government & public sector, media & entertainment, manufacturing, transportation & logistics, and others. The IT & telecom segment held the largest share in 2018, accounting for more than two-fifths of the market. However, the transportation & logistics segment is expected to manifest the fastest CAGR of 34.5% during the forecast period.
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The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2018, accounting for more than two-fifths of the market. However, the market across the Asia-Pacific region is expected to register the fastest CAGR of 27.8% during the forecast period.
The market report provides an in-depth analysis of the key market players such as DataStax, Neo4j, Inc., Franz Inc., Oracle Corporation, OrientDB, MongoDB, Objectivity Inc., Stardog Union Inc., Teradata Corporation, and Microsoft Corporation.
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