Graph Database Market Insights 2023: How Top Companies Are Impacted by Market Size and Share 2030

Market Overview:
In computing, a graph database is a database that uses graph structures for semantic queries with nodes, edges and properties to represent and store data. A key concept of the system is the graph (or edge or relationship), which directly relates data items in the store. The relationships allow data in the store to be linked together directly, and in many cases retrieved with one operation. Key factors which gives growth to the graph database market are emerging need to have precision and better response time to discover new correlations and multi-dimensional data management with real-time query support. Expanding business applications with connected data coupled with rising technological challenges of connected data is the prominent factor drives the growth of global graph database market. Additionally, expanding enterprise data volumes coupled with growing importance to generate insight from existing data, rising focus on data monetization solutions and increasing demand for master data management solutions, are the factors further accelerates the growth of global graph database market. Also, growing dependency on connected data for fraud detection across various industries including e-commerce, banking, financial services and insurance, contributes the growth of growth of global graph database market. Furthermore, rising demand for connected data to optimize marketing performance, continuous adoption to cloud computing environment across various industries and expanding (IoT) applications, expected to fuel the growth of global graph database market. In developed market, they have more international companies, good channels, highly market maturity, fierce competition, a highly competent management team, technology and finance advantages, keep on innovation, all of which make a growing market demand for Graph Database. Graph database tools play an important role in the healthcare and life sciences industry vertical, starting from recording patients' information from different sources to discharging patients. Healthcare-focused start-ups, such as Zephyr Health, leverage the graph database technology for fulfilling the unmet needs of their customers. Healthcare organizations and institutions use graph database tools and services to improve their operational efficiency, enhance the safety, improvise the quality of patient care, and reduce costs. Industry regulations, such as HIPAA and HITECH, provide guidelines for healthcare data privacy and the safe transmission of electronic health data. From 2022-2027, North America is estimated to witness robust growth prospects. Neo4j is one of the major players operating in the Graph Database market, holding a share of 14.66% in 2022.

Graph Database market reached a value of USD 1786.16 million in 2022. It's expected that the market will achieve USD 6089.23 million by 2028, exhibiting a CAGR of 22.68% during the forecast period.

A thorough understanding of the Services sector and its commercial potential is the aim of the market study. The Graph Database Market Report has 125 pages and has a detailed table of contents, a list of data, tables, and charts, along with an in-depth analysis.

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Market Segmentation:
Leading Players in the Graph Database Industry:
Neo4j
Cray
AWS
Oracle
Microsoft
DataStax
SAP
Marklogic
Tibco Software
IBM

To preserve their position, these big corporations relied on primary growth tactics such as product portfolio expansion, current trends, financing, mergers and acquisitions, partnerships, new product invention, and geographical development.

Based on Type:
RDF
Property Grap

Based on Application:
Risk Management & Fraud Detection
Customer Analytics
Recommendation Engines
Other

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Key Factors Considered:
COVID-19 - Amid the COVID-19 crisis, the Graph Database market has definitely taken a hit. The report describes the market scenario during and post the pandemic in the vision of upstream raw materials, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research. The epidemic is still causing tremendous disruption in industries throughout the world. We've been tracking the direct and indirect consequences of the COVID-19 outbreak on the Graph Database market. To Know How Covid-19 Pandemic will Impact this Industry - https://www.precisionreports.co/enquiry/request-covid19/23298729

Regional Conflict / Russia-Ukraine War - The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it's going to evolve in the years to come.

Challenges & Opportunities - Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.

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Market is changing rapidly with the ongoing expansion of the industry. Advancement in the technology has provided today's businesses with multifaceted advantages resulting in daily economic shifts. Thus, it is very important for a company to comprehend the patterns of the market movements in order to strategize better. An efficient strategy offers the companies with a head start in planning and an edge over the competitors. Precision Reports is the credible source for gaining the market reports that will provide you with the lead your business needs.

This release was published on openPR.