The Graph Database Market revenues were estimated at US$ 1.9 Billion in 2021 and is anticipated to grow at a CAGR of 15% from 2022 to 2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 9.6 Billion.
Graph database tools and services are widely used, to the point where some legacy database providers are attempting to implant graph database schemas on top of their established relational database architectures. While the approach may reduce costs in theory, it can limit and compromise the performance of queries run against the database in practice.
A graph database is transforming traditional brick-and-mortar businesses into digital business powerhouses when it comes to digital business initiatives. Companies face challenges when storing massive amounts of linked data in a database that is not optimized for any specific purpose.
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Businesses can use a real-time recommendation system built on top of a graph database capable of processing low-latency queries instead of a complex batch process on top of a legacy relational database. It can be used to query customers’ previous purchases during an online visit in order to match historical and session data in a way that significantly outperforms traditional relational databases.
Lower latency is provided by graph databases. Because the nodes and links ‘point’ to each other, millions of related records can be traversed with a constant response time regardless of database size. To achieve low latency and high throughput, queries are divided into sub-queries that run concurrently.
Competitive Landscape
A large number of regional and global players operate in this market. These companies compete based on the innovation of their products, their quality, their brand reputation, and their market presence in order to sell their products through various industries. A variety of strategies are being employed by companies to remain competitive.
- In June 2021, Neo4j released its new graph database NEO4J version 4.3, with gradual improvements that display past innovations. Relationship chain locking for higher write transaction throughput, graph data science, and parallelized backup are all included in the recent version, owing to new smart IO scheduling and relationship property indexes.
- In April 2021, MANTA, a data lineage platform, established a strategic agreement with Neo4j, with the intention of immediately integrating Neo4j’s graph database technology into MANTA’s pipeline analysis platform. As organizations continue to shift to the digital era, customers will be able to process increasingly huge volumes of data more efficiently owing to the increased graph database capabilities. Similarly, recent developments related to companies offering Graph Database have been tracked by the team at Future Market Insights, which are available in the full report.
- In April 2021, MarkLogic Corporation released MarkLogic data hub central, a new low-code/no-code user interface for MarkLogic data hub. Data hub central is included with the MarkLogic data hub service and works with MarkLogic data hub in any environment, on-premises or in the cloud. It paves the way for cloud modernization by increasing the agility and usability of data infrastructure.
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Graph Database: Market Segmentation
By Component:
- Software
- Services
By Deployment Mode:
- Cloud
- On-premises
By Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
By Application:
- Customer Analytics
- Risk, Compliance and Reporting Management
- Recommendation Engines
- Fraud Detection and Prevention
- Supply Chain Management
- Operations Management and Asset Management
- Infrastructure Management, IoT, Industry 4.0
- Knowledge Management
- Content Management, Data Extraction and Search
- Metadata and Master Data Management
- Scientific Data Management
- Others
By Type:
- RDF
- Labeled Property Graph
By Vertical:
- BFSI
- Retail and eCommerce
- Telecom and IT
- Healthcare, Pharmaceuticals, and Life Sciences
- Government and Public Sector
- Manufacturing and Automotive
- Media and Entertainment
- Energy and Utilities
- Travel and Hospitality
- Transportation and Logistics
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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