DUBLIN, Nov. 5, 2019 /PRNewswire/ -- The "Graph Analytics Market by Component, Deployment Mode, Organization Size, Application (Route Optimization and Fraud Detection), Vertical (Healthcare and Life Sciences, Transportation and Logistics, and BFSI), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Graph Analytics Market Size is Projected to Grow from USD 584 Million in 2019 to USD 2,522 Million by 2024, at a CAGR of 34.0%.
The graph analytics market is driven by the growing demand to analyze low-latency queries, advancements in graph analytics by the integration of technologies, such as Artificial Intelligence (AI) and Internet of Things (IoT), and the ability of graph analytics to uncover relationships between data in real-time to drive the growth of the market. However, a lack of technical skills may hinder the growth of the graph analytics market.
Services segment to grow at a higher CAGR during the forecast period
The graph analytics market by component is segmented into solutions and services. The services segment is expected to grow at a rapid pace during the forecast period. The services considered in the report are consulting, system integration, and support and maintenance. The growth of this segment can be attributed to the increasing deployment of graph analytics software tools and platform, which leads to the increasing the demand for pre- and post-deployment services, as these solutions require training due to technical complexities.
Healthcare and life sciences vertical to grow at the highest CAGR during the forecast period
The graph analytics market by vertical has been segmented into Banking, Financial Services and Insurance (BFSI), telecom, retail and eCommerce, healthcare and life sciences, manufacturing, government and public sector, transportation and logistics, and others (media and entertainment, education, and real estate). The health care and life sciences segment is projected to grow at the highest CAGR during the forecast period, owing to the increasing demand for controlling fraud related to health data, achieving better patient experience, and offering personalized treatment in real-time.
APAC to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. Increasing investments by the technology companies in major APAC countries, such as China, Japan, India, South Korea, Jong Kong, and Malaysia; growing digitalization; increasing adoption of advanced AI and big data technologies; and government regulations and initiatives are expected to drive the growth of the market in the APAC region.
- Ability to Uncover Relationships Between Data in Real-Time to Drive the Market
- Growing Demand to Analyze Low-Latency Queries
- Advancements in Graph Analytics By Integration of Ai, IoT, and Blockchain to Drive the Market
- Lack of Standardization and Programming Ease
- Growing Need to Identify Complex Patterns From the Data in Motion
- Rapid use of Virtualization for Big Data Analytics
- Lack of Technical Skills
- General Data Protection Regulation
- Payment Card Industry Data Security Standard
- Health Insurance Portability and Accountability Act of 1996
- Basel Committee on Banking Supervision 239 Compliance
- Sarbanes-Oxley Act of 2002
- Cambridge Intelligence
- Lynx Analytics
- TIBCO Software
- Tom Sawyer Software
For more information about this report visit https://www.researchandmarkets.com/r/jey5bl
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