Allied Market says demand of Graph Database is growing in IoT to networking to customer 360 Area in 2020

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.

Graph databases have the power to see deeply into real-time data relationships and make it easy to use relationship patterns for instant insight into large data sets. From IoT to networking to customer 360 to solving business problems with multi-model support, the power of graph can never be understated.

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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.

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.

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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.

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.

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