NoSQL Market - Growth, Trends and Forecast 2015 - 2023
NoSQL provides comprehensive solution to organizations to manage the big data generated through daily operations; moreover it’s increased usage for data analysis and storage and web applications drives the growth of this market. NoSQL database cater to a wide variety of applications such as management of web session, e-commerce and mobile application development among others, which in turn contributes to its increased adoption worldwide. Large amount of big data is being generated and processed regularly which has a positive impact on the growth of NoSQL market. NoSQL database have found increased popularity among customers as it allows organizations to process and store large volumes of data at less cost compared to RDBMS. Advancement of information technology (IT) and increase Internet access across the globe has propelled the growth of NoSQL market. Due to increased usage of IT, management of social media and increasing Internet access across North America, this region is a major driver for NoSQL market. In addition, Asia Pacific in terms of growth is expected to be the most lucrative for NoSQL market.
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NoSQL market can be segmented based on application and geography. In terms of application it’s categorized into defense, finance and banking, geosciences, biotechnology, mobile and telecommunication and others.
NoSQL Database are in their pre-production versions which pose a hindrance to its market growth as the users are not well informed about the technologies employed. Moreover, NoSQL is an open source database so security of data is questionable. However, flexibility of various data models, elastic scalability, seamless operation with cloud and others continue to drive the growth of NoSQL market. Innovation launches and collaborative efforts from customers and vendors offer a positive upsurge to the growth of NoSQL market.
Some of the key players in NoSQL market include IBM Corporation, Aerospike, Inc., Oracle Corporation, Basho Technologies, Objectivity, Inc., MarkLogic Corporation, Microsoft Corporation, Couchbase, Neo technology, Inc., Cisco Systems, Inc., Hypertable, Inc., and others.
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