Graph Technology Market 2024-2033: Growth Trends, Outlook & Top Major Key Players

The graph technology market size has grown exponentially in recent years. It will grow from $4.31 billion in 2023 to $5.26 billion in 2024 at a compound annual growth rate (CAGR) of 22.2%. The growth in the historic period can be attributed to rise in social network analysis, semantic web and linked data, search engines and recommendation systems, fraud detection and security, and biological and chemical research.

The graph technology market size is expected to see exponential growth in the next few years. It will grow to $11.63 billion in 2028 at a compound annual growth rate (CAGR) of 21.9%. The growth in the forecast period can be attributed to AI and machine learning integration, IoT and sensor data analysis, knowledge graphs for enterprise applications, graph-based supply chain optimization, and graphs for healthcare and life sciences. Major trends in the forecast period include the convergence of AI and graph technology, growth of knowledge graphs, expansion of graphs in IoT and supply chain management, the rise of graphs in healthcare and life sciences, focus on graph-based cybersecurity solutions.

Market Overview -
Graph technology refers to a set of tools and techniques that allow for the efficient storage, retrieval, and analysis of data represented as nodes and edges in a graph. It offers a versatile and powerful approach to understanding and working with interconnected data, making it applicable in a wide range of fields and industries.

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Growth Of The Graph Technology Market Driven By The Expansion Of Internet of Things (IoT)
The expansion of the Internet of Things (IoT) is expected to propel the growth of the graph technology market going forward. The Internet of Things (IoT) refers to the network of interconnected devices embedded with sensors, software, and other technologies that enable them to collect and exchange data with other devices and systems over the Internet. It arises because of advancements in technology, business opportunities, and consumer preferences for smart devices. Graph technology is increasingly being used in the Internet of Things (IoT) because of its ability to efficiently model and analyze complex relationships between various data points, allowing for better decision-making, increasing data visibility, and improving the overall functionality and efficiency of IoT applications. For instance, in December 2021, according to the GSM Association, a UK-based lobby organization that represents the interests of mobile network operators worldwide, IoT connections are expected to increase from 15.1 billion in 2021 to 23.3 billion IoT connections in 2025. Additionally, total IoT connections will more than double between 2021 and 2030, reaching 37.4 billion. Therefore, the expansion of the Internet of Things (IoT) is driving the growth of the graph technology market.

Competitive Landscape -
Major companies operating in the graph technology market are Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, Teradata Corporation, Progress Software Corporation, DataStax Inc., Neo4j Inc., TigerGraph Inc., Bitnine Global Inc., Tom Sawyer Software, Cambridge Semantics Inc., Sparsity Technologies, Stardog Union, ArangoDB Inc., OrientDB Ltd., Franz Inc., Ontotext Corp., Cray Inc., Grakn Labs Ltd., GraphAware Ltd., Blazegraph Inc., Dataiku, Linkurious SAS, GraphGrid Inc.

Innovations In Graph Technology For Space Object Tracking
Major companies operating in the graph technology market are focused on developing innovative and integrated advanced technologies, such as visualization tools for tracking space objects, to gain a competitive edge in the market. This technology refers to specialized software applications designed to identify, monitor, and visualize space objects' location and behavior, such as satellites and space debris in Earth's orbit. For instance, in March 2022, Privateer, a US-based space sustainability and exploration-focused company, launched Wayfinder, a proprietary knowledge graph technology to map and track space debris and satellites in earth orbit. It provides an open-access, near-real-time digital catalog of satellites and space debris orbiting the Earth, essential for deorbiting, refueling, tugging, and other on-orbit services. Additionally, it features a real-time digital catalog, a data mapping system, on-orbit services, and vital data infrastructure to contribute to safer and more efficient operations in space.

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Key Segments -
The graph technology market covered in this report is segmented -
1) By Component: Software, Services
2) By Graph Type: Property Graph, Resource Description Framework (RDF), Hypergraph
3) By Database Type: Relational (SQL), Non-Relational (No SQL)
4) By Application: Fraud Detection, Data Management And Analysis, Customer Analysis, Identity And Access Management, Compliance And Risk, Other Applications
4) By Industry: Banking Financial Services And Insurance (BFSI), Retail And E-commerce, Information Technology (IT) And Telecommunications, Healthcare And Life Science, Government And Public Sector, Media And Entertainment, Supply Chain And Logistics, Other Industries

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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