NoSQL Market Expected to Reach USD 22,087 Billion by 2026 | Top Players Such as - MongoDB, Neo Technology and Objectivity

According to the report published by Allied Market Research, The NoSQL Market Expected to Reach USD 22,087 Billion by 2026 | Top Players Such as - MongoDB, Neo Technology and Objectivity. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Rise in unstructured data, increase in demand for data analytics, and surge in application development business across the globe drive the growth of the global NoSQL market. On the other hand, complexities related to testing NoSQL applications curtail the growth to some extent. However, growth in big data is expected to create multiple opportunities in the industry.

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The global decision intelligence market was valued at USD 9.8 billion in 2021, and is projected to reach USD 39.3 billion by 2031, growing at a CAGR of 15.2% from 2022 to 2031.

The global decision intelligence market is segmented on the basis of component, deployment mode, enterprise size, industry vertical, and region. On the basis of component, it is segregated into platform, solutions, and services. On the basis of deployment mode, it is segregated into cloud and on-premises. On the basis of enterprise size, it is segregated into large enterprises and small and medium-sized enterprises (SMEs). On the basis of industry vertical, it is segregated into energy and utilities, BFSI, IT and telecom, government, healthcare, manufacturing, retail and consumer goods, and others. On the basis of region, it is segregated into North America, Europe, Asia-Pacific, and LAMEA.

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Based on type, the key value store segment contributed more than two-fifths of the global NoSQL market revenue in 2018 and is expected to lead the trail by the end of 2026. The simplicity in implementation of database is a major driver of the segment. On the other hand, the graph-based segment would register the fastest CAGR of 34.2% throughout the forecast period. The ability to support a large number of connections drives the growth of the segment.

Based on application, the web apps segments accounted for more than one-fourth of the global NoSQL market share in 2018 and is anticipated to lead the trail till 2026. NoSQL is emerging as one of the most suitable technological options for storing web app session information which drives the segment. At the same time, the mobile apps segment would manifest the fastest CAGR of 33.5% during the study period. Due to storage in schema-less format, app developers can comfortably modify applications without making any major infrastructure changes which augments the growth of the segment.

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Based on geography, North America held the lion's share, generating more than two-fifths of the global NoSQL market. The higher awareness among North American users regarding the benefits of NoSQL technology is driving the adoption of NoSQL in this region. On the other hand, the Asia-Pacific region is also projected to portray the fastest CAGR of 35.5% during the estimated period. This is due to a rise in its adoption for social network development and app development purposes in the Asia-Pacific region.

The market players operating in the NoSQL market analysis include Aerospike, Inc., Amazon Web Services, Inc., DataStax, Inc., Microsoft Corporation, Couchbase, Inc., Google LLC, MarkLogic Corporation, MongoDB, Inc., Neo Technology, Inc., and Objectivity, Inc.

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Impact of COVID-19 Pandemic on NoSQL Market Globally (Pre and Post Analysis)

● Due to global lockdown, the usage of social networking and online gaming has increased. This fueled the demand for NoSQL application in the social networking and online gaming market.

● The adoption of NoSQL applications in regions including North America and Asia-pacific has been increased amid COVID-19.

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